Anfield to Complete a Uranium Resource Report for the Charlie Project
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Anfield to Complete a Uranium Resource Report for the Charlie Project
VANCOUVER, BRITISH COLUMBIA -- MARKETWIRED – MARCH 26, 2018 — Anfield Energy Inc. (TSX.V:
AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that BRS
Engineering, Inc. (“BRS”) has begun work on a resource report for the Charlie uranium project (the
“Charlie Project”) located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. BRS will
utilize the data from previous exploration activities and estimates that it will complete the report within
60 days. Please see Anfield’s March 12 news release for further details related to the Charlie Project
transaction.
Corey Dias, Anfield CEO, states, “We are very pleased to begin updating the technical reports on the
Charlie Project, and anticipate, based on previous reports commissioned by Cotter Corporation, that the
BRS report will be positive. We view Charlie as an extremely strategic asset in our portfolio due not only
to its advanced nature but also to its close proximity to two of Uranium One’s currently-producing mines
and its uranium satellite processing plant where Anfield has a processing agreement. Based on the new
report we would hope to quickly move into the next development phase on the Charlie Project.”
The Charlie Project is located in the Powder River Basin in Wyoming near an existing uranium ISR mine
and operating oilfields which have road and power line infrastructure. Previous owners and operators of
the Charlie Project have conducted sufficient exploration drilling to delineate a portion of a major roll-
front system which crosses the property and continues on to adjacent lands. As a result of this previous
work, a database of over 1300 drill holes is available as well as several hydrological, analytical and
mineralogical reports. Previous reports have shown that the uranium mineralization underlying the
Charlie Project exist as narrow and sinuous multiple roll-fronts which are commonly developed in the
Tertiary sedimentary formations of the Powder River Basin. Roll-fronts of this type are currently mined
by ISR methods on the adjacent Christensen Ranch Project – owned by Uranium One – and further south
at Cameco’s Highland Project.
About The Charlie Project
The Charlie Project is located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. The
Charlie Project consists of a 720-acre Wyoming State uranium lease which has been in development
since 1969.
Inexco Oil began exploration drilling on the Charlie Project in 1969 and over a two year period
completed 215 holes, comprising 91,000 ft. of drilling. A joint venture was formed with Uranerz USA in
1974 and an additional 715 holes were completed, including 57 core holes, totaling 283,906 ft. Cotter
acquired the project from Uranerz and proceeded to evaluate it for both conventional open pit and in
situ mining methods. Cotter excavated a 200 ft. test pit in 1981 on a small ore zone east of the main
trend. Falling uranium prices in the 1980s halted further development on the project. In January, 1995
Power Resources Inc. (PRI) completed what it defined as a “feasibility study” for the project under an
agreement with Cotter Corporation for development as an ISR mine. PRI estimated what it defined as
“total geologic (indicated and inferred) ore reserves” for the project. The estimate was based on a data
from some 1,252 exploration drill holes using an initial cutoff of 2 feet of 0.02 %eU3O8. PRI utilized both
manual GT contouring and computer-aided geostatistical mineral resource estimation methods to
estimate the contained pounds by blocks (42’ by 42’). PRI then applied economic criteria based on
estimated uranium content, by ISR wellfield pattern, which resulted in range of 3.1 to 4.6 million pounds
of uranium oxide “total geologic ore reserve” and a corresponding range of average GT of 1.64 to 2.72.
PRI did not state the average thickness or grade. Anfield considers these estimates to be historical in
nature and cautions that a qualified person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves and Anfield is not treating the historical
estimate as current mineral resource or mineral reserves. The term “ore reserve” disclosed as an
historical estimate is not consistent with the requirement of the definition of a mineral reserve per CIM
definitions as the economic viability and technical feasibility of the project have not been established by
preparation and filing of a preliminary feasibility study or feasibility study.
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., has approved the scientific and technical disclosure in the news release.
Mr. Beahm, the principal engineer at BRS, 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 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 two
production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin Processing Agreement with Uranium One whereby 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, the Company can both buy and borrow uranium from Uranium One in order to
fulfill some or all of its sales contracts.
Anfield’s 24 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. Anfield’s two projects in Wyoming
for which NI 43-101 resource reports have been completed are Red Rim and Clarkson Hill.
Arizona/Utah – 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
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. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-
Wood Project. All conventional uranium assets are situated within a 125-mile radius of the Shootaring
Mill.
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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