Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
provide a corporate update. Anfield is also pleased to support the
signing of the recently-announced definitive agreement between
Uranium One Americas and Uranium Energy Corporation (UEC), and
congratulates both parties in their pursuit of this
transaction.
Corey Dias, Anfield CEO, states, "Anfield has
worked with Uranium One since 2014 and remains well-positioned to
pursue uranium production in Wyoming - via its existing Resin
Capture and Processing Agreement - once the transaction
closes. We look forward to working with UEC in this regard.”
Resource updatesThrough 2021,
Anfield has positioned itself to take advantage of the increasing
uranium price through its work with BRS to update both uranium
resource and exploration targets and also determine economics of
various projects within its portfolio. BRS is also assessing the
prospects of drill programs for Anfield's ISR projects in
Wyoming.
The Company's focus remains on its Charlie
Project in Wyoming as its primary production target, and believes
that its estimated pre-production cost of $6.7 million and its low
operating costs and favorable economics, as shown in BRS
Engineering’s Preliminary Economic Assessment of Charlie, provide
an attractive near-term opportunity for the Company and its
Shareholders. Moreover, the commodity price has
increased by 80% over the year could be set for further increases
due to production cutbacks in primary supply, the entry into the
uranium spot market by the Sprott Physical Uranium Trust and
uranium producer Kazatomprom and the recent news regarding the plan
to build 150 nuclear reactors in China within 15 years.
Landholding managementAnfield
completed the transfer of the Colorado-based West Slope
uranium/vanadium properties in 2020, and replaced the nine
reclamation bonds associated with these projects with a surety bond
in 2021. The Company has also submitted Succession-Of-Operator
applications to the Department of Reclamation Mining Services
(DRMS) in Colorado, and has subsequently received mining
permits for each of its West Slope properties. Finally, Anfield
increased its surety collateral at the Shootaring mill and remains
in good standing with Utah DEQ.
Equity funding
In 2021, Anfield has raised approximately $4.8
million via a private placement and received approximately $5
million in warrant exercises, resulting in a current cash balance
of close to $5 million.
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 asset centers, as
summarized below:
Wyoming – Resin Capture and Processing
Agreement
Anfield has signed a Resin Capture and
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.
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
Wyoming State uranium lease which has been in development since
1969. An NI 43-101 Preliminary Economic Assessment has been
completed for the Charlie Project.
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 three projects in Wyoming for which NI 43-101 resource
reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
Arizona/Utah/Colorado – Shootaring Canyon
Mill
Another 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, permitted and constructed conventional
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. 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 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.
On behalf of the Board of DirectorsANFIELD
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
MostertCorporate
Communications780-920-5044contact@anfieldenergy.comwww.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 FOR 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
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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
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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 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 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.
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