Anfield Energy will complete a mineral resource report for

VANCOUVER, British Columbia, 02 Feb. 2022 (GLOBE NEWSWIRE) — Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that Anfield has engaged BRS Engineering (“BRS”) to complete a mineral resource report for four of the nine West Slope uranium/vanadium properties held by the Company (“West Slope”). West Slope properties are located in the prolific Uravan region of Colorado.

The targeted West Slope properties are known as JD-6, JD-7, JD-8 and JD-9 and represent a historic uranium and vanadium resource of approximately 7 Mlb and 33 Mlb, respectively, at contents described below.

Corey Dias, CEO of Anfield, said: “Given the strengthening global sentiment related to the uranium market, we are pleased to update and determine the potential economics of four of our West Slope properties in Colorado. . We believe these projects could be an essential part of Anfield’s long-term viable conventional uranium production – backed by the Shootaring Canyon plant in Utah – as part of its portfolio of uranium assets. Americans.

About the West Slope Project

The West Slope project, located in Montrose and San Miguel counties in southwestern Colorado, consists of nine Department of Energy (DOE) leases, combined with adjacent claims and mining leases, covering 6 913 acres on which uranium production took place. Between 1977 and 2006, approximately 1.3 Mlb of uranium and 6.6 Mlb of vanadium were produced from these mines. In 2007, Behre Dolbear was commissioned by Cotter to produce a technical report for the West Slope project (Technical Report on Nine Properties Owned by Cotter Corporation in Montrose and San Miguel Counties, Colorado, USA, August 16, 2007). Using available data and using a cut-off grade of 0.05% uranium, Behre Dolbear estimated a measured-in-place resource of 2.1 Mt of uranium at an average grade of 0.25% for a total of 11 Mlb of uranium and a measured in place resource of 1.2Mt of vanadium at an average grade of 1.2% for a total of 53Mlb of vanadium.

Historical Resources – West Slope
Interceptions greater than 0.05% U3O8
U3O8 V205
Property Tons (millions) % Pounds (millions) % Pounds (millions)
JD-6 0.16 0.15 0.48 0.75 2.4
JD-7 0.77 0.26 4.0 1.1 17
JD-8 0.31 0.24 1.5 1.3 7.9
JD-9 0.23 0.24 1.1 1.2 5.7
SR-11 0.17 0.29 0.99 1.9 6.6
SR-13A 0.01 0.22 0.26 1.4 1.7
SM-18N 0.097 0.23 0.45 1.1 2.1
SM-18S 0.047 0.26 0.24 1.5 1.3
LP-21 0.19 0.23 0.87 1.2 4.6
CM-25 0.092 0.36 0.66 1.7 3.2
Total 2.1 0.25 11 1.2 53

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 does not treat the historical estimate as a mineral resource or current mineral reserves. A qualified person will need to perform an analysis of data from previous exploration activities to delineate an updated uranium/vanadium resource estimate.

About BRS

BRS, Inc. is an engineering and geological consulting firm specializing in mining and mineral exploration. Of particular note, he specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mining and reclamation. She has completed numerous uranium projects, including technical reports and feasibility studies for underground, surface, ISR and conventional uranium mills. Representative projects include technical reports and project finance due diligence for conventional uranium projects, including the Sheep Mountain Project in Wyoming, the Marquez/Juan Tafoya Project in New Mexico, the Coles Hill Project in Virginia, and numerous ISR uranium projects in Wyoming, Texas and Paraguay.

Douglas L. Beahm, PE, PG, Principal Engineer at BRS, is a Qualified Person as defined in NI 43-101 with over 45 years of professional and management 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, SRI and uranium mill tailings. Mr. Beahm’s background includes coal, precious metals and industrial minerals, but throughout his career he has focused on uranium. Mr. Beahm has reviewed and approved the technical content of this press release.

About Anfield

Anfield is a near-term uranium and vanadium development and production company committed to becoming a leading energy fuels provider by creating value through sustainable and efficient growth of its assets. Anfield is a publicly traded company listed on the TSX Venture Exchange (AEC-V), OTCQB Market (ANLDF) and Frankfurt Stock Exchange (0AD). Anfield focuses on two asset centres, as summarized below:

Wyoming – Resin Capture and Processing Agreement
Anfield signed a resin capture and processing agreement with Uranium One under which Anfield would process up to 500,000 pounds per year of its mined material at Uranium One’s Irigaray processing plant in Wyoming.

The Charlie Project, Anfield’s flagship uranium project, is located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. The Charlie Project consists of a 720-acre uranium lease in the State of Wyoming that has been in development since 1969. An NI 43-101 Preliminary Economic Assessment has been completed for the Charlie Project.

Anfield’s 24 SRI mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin regions of Wyoming. The three Anfield projects in Wyoming for which NI 43-101 resource reports have been written are Red Rim, Nine Mile Lake and Clarkson Hill.

Arizona/Utah/Colorado – Shootaring Canyon Windmill
Another asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon mill is strategically located in one of the most prolific uranium production areas in the United States and is one of only three conventional uranium mills licensed, licensed, and built 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 mining or prospecting for uranium took place. 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. An NI 43-101 preliminary economic assessment has been completed for the Velvet-Wood project. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too geologically speculative to have economic considerations applied to them that would allow them to be classified as Mineral Reserves, and there is no certainty that the preliminary economic assessment would be carried out. All conventional uranium assets are located within 200 miles of the Shootaring plant.

On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, General Manager

Neither the 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
Business communication
780-920-5044
[email protected]
www.anfieldenergy.com

Safe Harbor Statement

THIS PRESS 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 FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, THE TOPICS DISCUSSED IN THIS PRESS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE A MATERIAL DIFFERENCE IN ACTUAL RESULTS FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS PRECEDED BY, FOLLOWED BY OR INCLUDING WORDS SUCH AS “ESTIMATE”, “ANTICIPATE”, “BELIEVE”, “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES TO THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FINANCING AS WELL AS THE RISKS INDICATED IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME TO TIME IN D ‘OTHER PUBLIC INFORMATION ABOUT THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH 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 BE SUCCESSFUL OR THAT THE COMPANY WILL EVEN ATTAIN COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS PRESS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS OR TO UPDATE THE REASONS 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 PRESS RELEASE ARE REASONABLE, THERE CAN BE NO GUARANTEE THAT SUCH BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL BE ACCURATE. INVESTORS SHOULD CONSIDER ALL INFORMATION PRESENTED HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME TO TIME.

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