Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) announces that it
has amended the terms of its current non-brokered private placement
which was announced on January 11, 2022. The updated Offering now
consists of up to 90,000,000 Units at a price of $0.085 per Unit,
for a total equity raise of up to $7,650,000 (“the Offering”). Each
Unit consists of one common share and one share purchase warrant,
with each warrant entitling the holder to purchase an additional
common share at a price of $0.13 for a period of twenty-four (24)
months. Red Cloud Securities, Inc. is acting as a Finder with
respect to the Offering.
The private placement may be closed in tranches.
Finders’ fees may be paid in certain circumstances. The foregoing
is subject to regulatory approval. All securities to be issued in
connection with the private placement will be subject to a
four-month-and-one-day statutory hold period in accordance with
applicable securities laws.
The proceeds from the private placement will be
used for property-related costs and development, and general
working capital.
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 also a
precious metals development company. 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 three asset centres, 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. A Preliminary Economic Assessment has been completed for the
Charlie Project.
Anfield’s 24 remaining 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
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. 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.
The Newsboy Gold ProjectThe
Newsboy Gold Project, located 45 miles northwest of Phoenix,
Arizona and 10 miles southeast of Wickenberg in Maricopa County,
consists of 2,243 acres of land which is comprised of 35 Federal
Lode Claims and 4 State leases.
Between 1987 and 1989, Westmont Mining Company
conducted reconnaissance geological mapping, rock chip geochemistry
and 102 holes (totaling 7,184 metres) of reverse-core drilling at
Newsboy. In 1990, Pima Mining NL drilled 12 diamond core holes (512
metres), 40 reverse core holes (2,000 metres), and completed
metallurgical test work, resource and reserve estimates and
mine-planning studies.
In 2009, Aurum National Holdings, Ltd.
Commissioned North American Environmental Group (NAEG) to produce a
report on the Newsboy property which was titled “Technical Report
of the Newsboy Gold Property, Maricopa County, Arizona, United
States, by Clive R. G. Bailey, dated September 1, 2009.” Anfield
considers this a historic report and does not warrant that it meets
current NI 43-101 guidance.
Using available data and a cut off grade of
0.02opt Au, NAEG estimated a total in-situ resource of 5.3Mt in the
following categories:
- A Measured
resource of 2.533Mt at 0.05opt Au and 0.87opt Ag for a total of
127,000oz Au and 2,196,000oz Ag;
- An Indicated
resource of 1.076Mt at 0.04opt Au and 0.44opt Ag for a total of
43,000oz Au and 471,000oz Ag; and
- An Inferred
resource of 1.719Mt at 0.038opt and 0.45opt Ag for a total of
65,000oz Au and 765,000oz Ag
The NAEG report also identified areas in which
the author, based on geologic interpretation, felt the resource
could be expanded. The NAEG report also recommended an exploration
program for this area. To Anfield’s knowledge these recommendations
have not yet been implemented.
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.
Douglas L. Beahm, P.E., P.G. has approved the
scientific and technical disclosure, relating to the Newsboy Gold
Project, in the news release. He is a Qualified Person as defined
in NI 43-101.
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 StatementTHIS 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
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 WITH SEEKING THE CAPITAL NECESSARY TO
COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY
APPROVAL PROCESS, COMPETITIVE COMPANIES, 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 WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION,
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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