Anfield Resources Discloses Conceptual Vanadium Exploration Target at its Velvet-Wood Mine
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2005, 4390 Grange Street
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TSX.V: ARY
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Anfield Resources Discloses Conceptual Vanadium Exploration Target at its
Velvet-Wood Mine
VANCOUVER, BRITISH COLUMBIA -- MARKETWIRED – December 13, 2017 — Anfield Resources Inc.
(TSX.V: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) (“Anfield” or “the Company”) announces a
conceptual vanadium exploration target at its Velvet-Wood Mine, located in Utah. BRS Engineering, Inc.
has completed an Exploration Target report, entitled “Velvet-Wood Vanadium Exploration Target,
National Instrument 43-101, Utah, U.S.A.”, with effective date of December 11, 2017 (the “Velvet-Wood
Vanadium Report”) which provides a vanadium exploration target of between 6.3Mlbs and 9.7Mlbs at a
grade of between 0.4% V2O5 and 0.61% V2O5. BRS is a consulting and engineering firm with nearly 40
years of experience assessing both uranium and vanadium projects. The potential quantities and grades,
as stated below, are conceptual in nature and have been approximated. There has been insufficient
exploration to define a mineral resource for vanadium. Furthermore, it is uncertain if additional
exploration will result in the exploration target being delineated as a mineral resource.
Corey Dias, Anfield’s CEO stated, “We are pleased to announce a vanadium exploration target at our
Velvet-Wood mine, which builds on the historical production of 5 million pounds of vanadium at this site
– as stated in our 2016 Preliminary Economic Assessment for the Velvet-Wood project. We believe that
the recent upsurge of interest in vanadium provides Anfield with a unique opportunity to create a
vanadium co-product production plan” which will both complement and enhance the attractiveness of
uranium extraction at the Velvet-wood mine.
A summary of the Vanadium Exploration Target included in the Velvet-Wood Vanadium Report is
presented in Table 1.
Table 1. Exploration Target Summary
Exploration Target Grade % V2O5 Pounds (x1,000)
Velvet/Wood 0.40 – 0.61 6,300 -9,700
This report includes disclosure permitted under Section 2.3(3) of NI 43-101 as Exploration Target. No
mineral resources or mineral reserves have been estimated for Vanadium. No economic assessment has
been completed for Vanadium. Reasonable prospects for eventual economic extraction are dependent
upon development of the project for uranium and recovery of vanadium as a by-product.
To the best of our knowledge there are no other legal or environmental matters that could materially
affect the potential development of this resource.
Velvet-Wood Mine
Based upon historical production, the Velvet-Wood Mine has the potential to be a significant source of
vanadium. Between 1979 and 1984, Atlas Minerals mined approximately 400,000 tons of ore from the
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Velvet Deposit at grades of 0.46% U3O8 and 0.64% V2O5, recovering approximately 4 million pounds of
U3O8 and 5 million pounds of V2O5.
The current mineral resources of the combined Velvet and Wood mines have been estimated to
comprise 4.6 million pounds of U3O8 at a grade of 0.29% U3O8 (measured and indicated resource) and
552,000 pounds of U3O8 at a grade of 0.32% U3O8 (inferred resource). (Source: Velvet-Wood Mine
Uranium Project, Preliminary Economic Assessment, National Instrument 43-101, Utah USA, Author: BRS
Inc.; Date: 05/31/2016).
NI 43-101 Disclosure
The Vanadium Exploration Target Report completed for Velvet-Wood has been authored by Douglas L.
Beahm, P.E., P.G. Principal Engineer, of BRS Inc. The author has reviewed and approved the technical
content of this news release.
About Anfield
Anfield is an energy metals exploration, development and near-term production company that is
committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable,
efficient growth in its energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-
Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).
Anfield is focused on two production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has also signed a Resin Processing Agreement with Uranium One wherein Anfield would process
up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in
Wyoming. In addition, should Anfield sign uranium sales contracts, the Company can both buy and
borrow uranium from Uranium One in order to fulfill some or all of its contracts.
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin,
Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming.
Arizona/Utah – Shootaring Canyon Mill
A key asset in Anfield’s existing portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The
Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium
production areas in the United States, and is one of only three licensed uranium mills in the United
States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah,
and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional
uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay
Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the
Shootaring Mill.
About BRS
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral
exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine
design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects
including technical reports and feasibility studies for underground, open pit, ISR, and conventional
uranium mills. Representative projects include technical reports and due diligence for project financing
for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming,
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the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous
ISR uranium projects in Wyoming and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, has approved the scientific and technical
disclosure in the news release. He is a Qualified Person as defined in NI 43-101 with 40 years of
professional and managerial experience. Mr. Beahm has a proven track record in a variety of mining and
mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and
uranium mill tailings projects. Mr. Beahm’s experience includes coal, precious metals, and industrial
minerals, but his emphasis throughout his career has been on uranium.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Resources, Inc.
Clive Mostert
Corporate Communications
780-920-5044
www.anfieldresources.com
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