Anfield to Acquire Artillery Peak Uranium Properties
Head Office:
4390 Grange Street, Suite 2005
Burnaby, B.C. V5H 1P6
www.anfieldenergy.com
Office: 604.669.5762
Fax: 604.608.4804
TSX.V: AEC
OTCQB: ANLDF
FRANKFURT: 0AD
Anfield to Acquire Artillery Peak Uranium Properties
VANCOUVER, BRITISH COLUMBIA -- STOCKWATCH – November 14, 2022 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it
has entered into a definitive agreement with Wayne Minerals Inc. (“WMI”) to acquire a 100% interest in
50 unpatented mining claims in the uranium-rich Artillery Peak project area, located in Mohave County,
Arizona (the “Claims”). The Claims are adjacent to Anfield’s current project in the Date Creek Basin and
increase Anfield’s uranium asset acreage in the area. Historical records indicate a potential uranium
resource in the Artillery Peak/Date Creek Basin area of approximately 2.8 million pounds of U308*.
Beginning in the 1950s, significant exploration work was completed in the Artillery Peak area, including
over 400 holes drilled by Jacquays Mining, Homestake Mining, Hecla Mining, Getty Oil, Public Service
Company of Oklahoma, and Santa Fe Mining. The Claims are also in the vicinity of the Anderson
Uranium Mine. Anfield will be engaging an engineering firm to review the associated data with both
sets of claims to assess the resource prospects for the combined projects.
Corey Dias, Anfield’s CEO commented: “As part of an overall production strategy, we continue to expand
our conventional uranium and vanadium assets through strategic tuck-in acquisitions, such as the
Artillery Peak Claims. Our aim is to pursue assets to fit both near-term and longer-term production
strategies. The near-term strategy centers on our Colorado and Utah uranium and vanadium mines
underpinned by our wholly-owned Shootaring Canyon mill, one of only 3 licensed mills in the U.S. The
longer-term production strategy is to acquire complementary assets with potential to feed additional
pounds to our Shootaring Canyon mill.”
As consideration for the Claims, WMI will receive $150,000 in cash, 25 million common shares (the
“Consideration Shares”) of Anfield and a 3% net smelter royalty (NSR) on uranium production from the
Claims. Anfield will be able to buy back the royalty for $150,000 per percentage point. Completion of
the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the
approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to
statutory restrictions on resale for a period of four-months-and-one-day. No finders’ fees or
commissions are owing by the Company in connection with the acquisition of the Claims.
*Artillery Peak Exploration Project, Mohave County, Arizona, 43-101 Technical Report, Dr. Karen
Wenrich, October 12, 2010. The resource estimates cited above are based on data and reports prepared
by the previous operator of the project. These resource estimates are of a historic nature. Work
necessary to independently verify the classification of the mineral resource estimates in accordance
with National Instrument 43-101, verified by a qualified person, and in compliance with CIM standards
has not been completed. This historical estimate should not be relied upon.
Qualified Persons
Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101
and has reviewed and approved the technical content of this news release.
About Anfield
Anfield is a uranium and vanadium 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 assets. Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (AEC-
V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its
conventional asset center, as summarized below:
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s 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,
Colorado, 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, the West
Slope Project, as well as the Findlay Tank breccia pipe. A NI 43-101 PEA has been completed for the
Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are
considered too speculative geologically to have economic considerations applied to them that would
enable them to be categorized as mineral reserves, and there is no certainty that the preliminary
economic assessment would be realized. All conventional uranium assets are situated within a 200-mile
radius of the Shootaring Mill.
Technical Disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
Project Location Classification Tons (kt)
Uranium
Grade
(% U3O8)
Contained
Uranium
(Mlbs U3O8)
Vanadium
Grade
(% V2O5)
Contained
Vanadium
(Mlbs V2O5)
Velvet-Wood Utah M & I 811 0.29% 4.6 - -
Inferred 87 0.32% 0.6 - -
West Slope Colorado Indicated 2,452 0.142% 6.9 - -
Inferred 2,452 - - 0.708% 34.7
Historic* 656 0.26% 3.5 1.49% 19.5
Frank M Utah Historic* 1,137 0.101% 2.3 - -
Findlay Tank Arizona Historic* 211 0.226% 1.0 - -
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resources and Anfield is
not treating such historical resources as current mineral resources.
Velvet-Wood: The PEA for Velvet-Wood was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS Inc., Terence P. (Terry)
McNulty, P.E., D. Sc., of T.P. McNulty and Associates Inc. (May 31, 2016). Mineral resources are not mineral reserves and do not have
demonstrated economic viability in accordance with CIM standards. GT cut-off varies by locality from 0.25%-0.50%.
West Slope: NI 43-101 resource estimate for the JD-6, JD-7, JD-8 and JD-9 properties, completed by BRS Inc. (effective March 2022); Historic
resource estimate for the SR-11, SR-13A, SM-18 N, SM-18 S, LP-21 and CM-25 properties, completed by Behre Dolbear for Cotter Corporation
(August 2007). Indicated and Inferred resources using GT cut-off of 0.1 ft% eU3O8; historic resources using cut-off of 0.05% U3O8.
Frank M: Historic Technical Report for Frank M, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G. Principal
Engineer of BRS Inc., and Andrew C. Anderson, P.E., P.G. Senior Engineer/Geologist of BRS Inc., dated June 10, 2008. Frank M historic resource
used a GT cut-off of 0.25%.
Findlay Tank: Historic Technical Report for Findlay Tank, prepared for Uranium One Americas, was authored by Douglas L. Beahm, P.E., P.G.
Principal Engineer of BRS Inc., dated October 2, 2008. Findlay Tank historic resource used a grade cut-off of 0.05% eU3O8.
Table 2. Slick Rock historical project resources.
Project Location Classification Tons (kt)
Uranium
Grade
(% U3O8)
Contained
Uranium
(Mlbs U3O8)
Vanadium
Grade
(% V2O5)
Contained
Vanadium
(Mlbs V2O5)
Slick Rock Colorado Inferred 2,549 0.228% 11.6 1.37% 69.6
Slick Rock: Historical resource estimate prepared by BRS Engineering, Inc. (effective April 2014). GT cut-offs range from 0.25%-0.50%
On behalf of the Board of Directors
ANFIELD ENERGY 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 Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT
PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FO R THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY
SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY,
FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR
STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT
LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE
COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE
INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND
THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO
ASSURANCE THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE
COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND
THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE R EASONS
WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE
COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE
REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE
ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.