Anfield to Acquire Marysvale and Calf Mesa Uranium Projects in Utah
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 Marysvale and Calf Mesa Uranium Projects in Utah
VANCOUVER, BRITISH COLUMBIA -- GLOBE NEWSWIRE – January 3, 2023 — 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 Nedeel LLC & BBL-2 LLC (“the Sellers”) to acquire a 100%
interest in 65 unpatented mining claims and historical data of the Marysvale uranium project, located in
Beaver County, Utah, and 100% interest in 26 unpatented mining claims and historical data of the Calf
Mesa uranium project, located in Emery County, Utah.
Corey Dias, Anfield’s CEO commented: “ We are please d to secure additional claims near our Utah
projects, including the Shootaring Canyon Mill, and will continue to seek out prospective assets which fit
into our two -fold strategy of acquiring both near term and longer -term uranium and vanadium assets
which will fit into our overall production plan. The near-term strategy centers on our advanced Utah and
Colorado uranium and vanadium projects – Velvet Wood, West Slope and Slick Rock – underpinned by
our wholly -owned Shootaring Canyon mill, one of only 3 licensed conventional mills in the U.S. The
longer-term production strategy includes the acquisition of complementary assets with potential to feed
additional uranium and vanadium resource to our Shootaring Canyon mill. Much like our Artillery Peak
acquisition, we believe that Marysvale and Calf Mesa will complement our existing a ssets and serve as
part of our longer-term strategy.”
As consideration for the claims and associated data, the Sellers will receive US$60,000 in cash and 9
million common shares (the “Consideration Shares”) of Anfield. 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.
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
About Marysvale
Uranium was discovered in the Marysvale area in 1949 and produced approximately 1.4 million pounds,
at a reported average grade of 0.22 %U3O8, of uranium between 1952 and 1967. Mined material was
shipped to a government ore-buying station located in Marysvale, Utah (Trigon Exploration Canada Ltd,
Technical Report on the Marysvale Property, Newton Mining District, Beaver County District, Utah,
U.S.A., 2006).
The Project is located within the Marysvale volcanic field approximately 100 air miles west and north of
the Shootaring Canyon mill.
Mineralization is hosted within hydrothermal veins associated with the “Central intrusive” and as
supergene enrichment within altered rhyolitic volcanics. Historic mining was dominantly within the vein-
type mineralization (Steven, T.A., Cunningham, and Machette, M.N., Integrated Uranium Systems in the
Marysvale volcanic field, west-central, Utah, AAPG Studies in Geology No. 13).
Companies such as Energy Fuels Exploration Co. and Philips Uranium Corp. have held claims in the area,
while both Philips and Trigon Exploration conducted drill programs.
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 throu gh 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 centre, 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 proli fic 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, th e 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 s peculative geologically to have economic considerations applied to them that would
enable them to be categorized as mineral reserves and , resultantly, there is no certainty that the
included preliminary economic assessment would be realized. All convention al 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
Slick Rock Colorado Inferred 2,549 0.228% 11.6 1.37% 69.6
Frank M Utah Historic* 1,137 0.101% 2.3 - -
Findlay Tank Arizona Historic* 211 0.226% 1.0 - -
Date
Creek/Artillery
Peak
Arizona Historic* 2,602 0.054% 2.8
* The Company’s Qualified Person has not done sufficient work to classify these historic estimates as current mineral resourc es 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.
Slick Rock: Historical resource estimate prepared by BRS Engineering, Inc. (effective April 2014). GT cut-offs range from 0.25%-0.50%
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.
Artillery Peak: Artillery Peak Exploration Project, Mohave Co unty, Arizona, 43 -101 Technical Report, authored by Dr. Karen Wenrich, October
12, 2010. GT cut-off varies by locality from 0.01%-0.05%.
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
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