Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
announce that it has engaged BRS Inc. and Wright Environmental
Services to restart the permit application process with regard to
the Company’s Velvet-Wood uranium and vanadium project in Utah. An
updated Plan of Operations and necessary environmental studies are
being commissioned to capitalize on the advanced permitting and
licensing work previously undertaken by Uranium One in 2008 and
2009. Both BRS and Wright Environmental were involved in Uranium
One’s previous efforts to permit Velvet-Wood, bringing a wealth of
asset-specific experience and knowledge to the effort.
Studies previously completed include:
- 607 acre cultural resources
survey
- Hydrogeologic and Groundwater
Quality Study
- Mine Water Treatment Study
- Baseline Surface Radiological
Survey
- Baseline Wildlife, Vegetation and
Soil Survey
In addition to the above, a UPDES Discharge
Permit for the mine dewatering treatment system was issued to
Uranium One by the State of Utah in October 2008.
Corey Dias, Anfield CEO, stated, “The
Velvet-Wood project is a critical part of Anfield’s production
objectives, given its past-producer status and robust economics
tied to a previously-completed economic assessment. A great deal of
work has already been completed in pursuit of a mining permit for
Velvet-Wood, significantly shortening the timeline that would be
required otherwise. We are confident that Velvet-Wood will play an
important role in the execution of our conventional mine and mill
complex production plan.”
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 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, P.E., P.G., the principal
engineer at BRS, is a Qualified Person as defined in NI 43-101 with
more than 45 years of professional and managerial experience, and
has reviewed and approved the technical content of this news
release. 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 Wright Environmental
Services
Toby Wright, President of Wright Environmental
Services, is a hydrogeologist and a registered professional
geologist (Wyoming) with a masters degree in geotechnical
engineering and over 30 years experience in uranium mining and
milling regulatory compliance. He was the contract project manager
at the UMTRA Moab Site reclamation project for the US Department of
Energy between 2002 and 2005, and was the Environmental Manager for
Uranium One Americas conventional mining and milling assets from
2007 to 2010, during which he was responsible for permitting and
compliance of the Shootaring Canyon Mill and Uranium One’s
Utah-based conventional uranium assets, which Anfield subsequently
acquired. Mr. Wright was a Director on Anfield’s Board between 2014
and 2019. Since 2010, Mr. Wright has provided technical and
regulatory support for the uranium industry as a private
contractor.
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 two asset centres, 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 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 and vanadium 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.
Wyoming – Resin Capture and Processing
Agreement
Anfield 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 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.
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
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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