Anfield Resources to Evaluate Vanadium Potential at its Velvet-Wood Mine
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608, 1199 West Pender Street
Vancouver, BC V6E 2R1
Tel: (604) 687-0300
Fax: (604) 687-0151
www.anfieldresources.com
TSX.V: ARY
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield Resources to Evaluate Vanadium Potential at its Velvet-Wood
Mine
VANCOUVER, BRITISH COLUMBIA -- MARKETWIRED – November 21, 2017 — Anfield Resources Inc.
(TSX.V: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) (“Anfield” or “the Company”) announces that it is
placing increased emphasis on the vanadium potential of its Velvet-Wood Mine, located in Utah. Anfield
has engaged BRS Engineering, Inc. to update Anfield’s NI 43-101 resource report related to the Velvet-
Wood Mine to include a vanadium exploration target. The report is expected to be completed within six
to eight weeks.
Anfield’s prospective energy partners have shown a greater interest in the Company’s vanadium assets
due to the significant upturn in the vanadium price this year – from US$4.00 to US$22.60. Anfield is also
exploring the feasibility of including a vanadium circuit on its Shootaring Canyon uranium mill, which
would allow it to process vanadium.
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
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 of0.29% 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, San Juan County, Utah USA NI 43-101 Mineral Reserve and Resource Report, Author:
BRS Inc.; Date: 11/14/2014).
Corey Dias, Anfield’s CEO stated, “Vanadium is increasingly being embraced by battery manufacturers as
a core material in the production of batteries to be used in both small-scale and large-scale applications;
in fact, vanadium redox-flow batteries (VFBs) have started to grow in influence as energy companies
look to improve energy storage. This ranges from grid-scale uses, such as Prudent Technology’s use of a
VFB for its solar installation in Italy, to smaller-scale uses such as Warren Buffett’s BYD company using
vanadium batteries for its electric vehicles and Subaru using a VFB to power its Subaru G4e vehicle.
Vanadium is clearly viewed as an attractive alternative to other battery technology sources. Anfield is
fortunate in having two energy metal resources together, both with highly positive demand projections:
uranium and vanadium”.
Vanadium – an important commodity in a strategic location
85% of current vanadium production comes from three countries: China, Russia and South Africa. With
increasing geopolitical trade uncertainty, it is clearly an advantage to have a domestic U.S. supply source
for a strategic material driving an important new technology. Vanadium has traditionally been used to
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strengthen steel; however, its recent resurgence has come about due to its large-scale energy storage
potential. VFBs have the ability to store mass energy, which potentially strengthens grid stability and
the case for electric vehicles, and renewable energy..
Technical advances are driving flow battery technology closer to mass commercialization. In Dalian,
China, there are plans to create a 200MW - 800MWh storage station, the largest VFB installation in the
world. Since 2014, more than 30 VFB installations have either been deployed or are currently under
construction. In addition, the use of VFBs in vehicles has the potential to improve upon lithium-ion
batteries by increasing the voltage and energy density metrics. With all the developing needs and uses
for advanced battery technology, industry spending on energy storage is expected to reach US$200
billion in 2020 alone -- providing attractive marketing opportunities for Anfield.
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,
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.
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:
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.
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
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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.
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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