Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
announce that it will conduct a non-brokered private placement for
up to 40,000,000 Units at a price of $0.065 per Unit, for a total
equity raise of up to $2,600,000 (“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 $0.10 for a period of twenty-four (24) months.
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 the funding of the Company’s Radioactive Materials License
restart application with the State of Utah, drill program
permitting costs for both the Slick Rock and Velvet-Wood mines,
acquisitions 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 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 its conventional asset centre, 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 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. A NI 43-101 PEA
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, resultantly, there is no
certainty that the included preliminary economic assessment would
be realized. All conventional uranium assets are situated within a
200-mile radius of the Shootaring Mill.
Technical Disclosure
Table 1. Anfield’s existing conventional
uranium-vanadium project portfolio resources.
Project |
Location |
Classification |
Tons (kt) |
UraniumGrade(%
U3O8) |
Contained Uranium(Mlbs
U3O8) |
VanadiumGrade(%
V2O5) |
Contained Vanadium(Mlbs
V2O5) |
Velvet-Wood |
Utah |
M & I |
811 |
0.29 |
% |
4.6 |
- |
|
- |
|
|
Inferred |
87 |
0.32 |
% |
0.6 |
0.404 |
% |
7.3 |
West Slope |
Colorado |
Indicated |
1,367 |
0.197 |
% |
5.4 |
- |
|
- |
|
|
Inferred |
1,367 |
- |
|
- |
0.984 |
% |
26.9 |
|
|
Historic* |
630 |
0.31 |
% |
3.9 |
1.59 |
% |
20.0 |
Slick Rock |
Colorado |
Inferred |
1,760 |
0.224 |
% |
7.9 |
1.35 |
% |
47.1 |
Frank M |
Utah |
Historic* |
1,137 |
0.101 |
% |
2.3 |
- |
|
- |
Findlay Tank |
Arizona |
Historic* |
211 |
0.226 |
% |
1.0 |
- |
|
- |
Date Creek/Artillery Peak |
Arizona |
Historic* |
2,602 |
0.054 |
% |
2.8 |
|
|
Marquez-Juan Tafoya |
New Mexico |
Historic* |
7,100 |
0.127 |
% |
18.1 |
|
|
* The Company’s Qualified Person has not done
sufficient work to classify these historic estimates as current
mineral resources and Anfield is not treating such historical
resources as current mineral resources.
Velvet-Wood: The PEA for Velvet-Wood/Slick Rock
was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of
BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G.,
and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and
Associates Inc. (May 6, 2023). Mineral resources are not mineral
reserves and do not have demonstrated economic viability in
accordance with CIM standards. GT cut-off varies by locality from
0.25%-0.50%.
West Slope: NI 43-101 resource estimate for the
JD-6, JD-7, JD-8 and JD-9 properties, completed by BRS Inc.
(effective March 2022); Historic resource estimate for the SR-11,
SR-13A, SM-18 N, SM-18 S, LP-21 and CM-25 properties, completed by
Behre Dolbear for Cotter Corporation (August 2007). Indicated and
Inferred resources using GT cut-off of 0.1 ft% eU3O8; historic
resources using cut-off of 0.05% U3O8.
Slick Rock: The PEA for Velvet-Wood/Slick Rock
was authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of
BRS Inc., Harold H. Hutson, P.E., P.G., Carl D. Warren, P.E., P.G.,
and Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and
Associates Inc. (May 6, 2023). Mineral resources are not mineral
reserves and do not have demonstrated economic viability in
accordance with CIM standards. GT cut-off varies by locality from
0.25%-0.50%.
Frank M: Historic Technical Report for Frank M,
prepared for Uranium One Americas, was authored by Douglas L.
Beahm, P.E., P.G. Principal Engineer of BRS Inc., and Andrew C.
Anderson, P.E., P.G. Senior Engineer/Geologist of BRS Inc., dated
June 10, 2008. Frank M historic resource used a GT cut-off of
0.25%.
Findlay Tank: Historic Technical Report for
Findlay Tank, prepared for Uranium One Americas, was authored by
Douglas L. Beahm, P.E., P.G. Principal Engineer of BRS Inc., dated
October 2, 2008. Findlay Tank historic resource used a grade
cut-off of 0.05% eU3O8.
Artillery Peak: Artillery Peak Exploration
Project, Mohave County, Arizona, 43-101 Technical Report, authored
by Dr. Karen Wenrich, October 12, 2010. GT cut-off varies by
locality from 0.01%-0.05%.
Marquez-Juan Tafoya: The Historical Technical
Report, Preliminary Economic Assessment, for Marquez-Juan Tafoya,
prepared for Uranium Energy Corporation, was authored by Douglas L.
Beahm, P.E., P.G., Principal Engineer of BRS Inc., and Terence P.
McNulty, P.E., PhD, McNulty & Associates, dated June 9, 2021.
The mineral resources are reported at a 0.60 GT cut-off.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
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
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 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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