/EIN News/ — VANCOUVER, British Columbia, 20 July 2023 (Globe Newswire) — Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; Frankfurt: 0AD) (“Anfield” or “company) is pleased to announce that the acquisition has been completed, in addition to the June 6 news release (“transactionNeutron Energy, Inc. (“neutronA wholly owned subsidiary of enCore Energy Corp. (NYSE American: EU; TSXV: EU) (“ Encore”), Marquez Juan Tafoyaulan Project (“Juan Tafoya”) Located 80 miles west-northwest of Albuquerque, New Mexico, in the Grantu Uran Mineral District.
Anfield CEO Cory Diaz said: In addition, the addition of Marques Juan Tafoya, our largest single uranium project to date in terms of resource size, significantly expands our uranium resource base.
“At the time of global nuclear glunsa dance, and the shortage of worldwide uranium, we believe that it is extremely important to pursue advanced uranium deposits that promote short -term uranium production. We believe that Kazakhstan shifts to the east side to support China’s strong nuclear development plan. The important part of the country’s utility uranium is increasingly crisis. This scenario is highlighting the opportunity for US Uranian producers to be doubtful.
“To that end, we will continue to pursue both a short-term strategy centered on our advanced Utah and Colorado uranium and vanadium projects, Velvetwood, West Slope and Slickrock, backed by our wholly-owned Shooting Canyon plant, one of three licensed conventional plants in the United States, and a long-term production strategy that includes the acquisition of complementary assets that may provide additional uranium and vanadium resources for our Shooting Canyon plant. , we believe Marquez Juan Tafoya will complement our existing portfolio of assets and serve as part of our long-term uranium production strategy.”
The Company issued 185 million shares of common stock as consideration for the acquisition of Neutron (hereinafter “Consideration stock”) to enCore and agreed to pay C$5 million in cash (“payment of considerationPursuant to the agreement with enCore, C$4,000,000 of the Consideration Payment will be due upon completion of the transaction, with the remainder due by September 25, 2023. We have also granted enCore the right to appoint one director to our Board of Directors so long as enCore continues to own at least 10% of our outstanding shares. Eugene Spiering has been appointed to the Company’s Board of Directors as an initial nominee for enCore.
The company is arm’s length from enCore and Neutron. Consideration shares are subject to legal restrictions on resale until November 20, 2023, in accordance with applicable securities laws. We are not required to pay any finder fees or commissions in connection with this transaction. For more information regarding Juan Tafoya, we encourage you to refer to our news release dated June 6, 2023.
About Anfield
Anfield is a uranium and vanadium development and short-term producer committed to becoming a leading energy-related fuels supplier by creating value through sustainable and efficient asset growth. Anfield is a public company listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield focuses on traditional asset centers, as summarized below.
Arizona/Utah/Colorado – Canyon Mill Shooting
A key asset in Anfield’s portfolio is Shooting Canyon Mill in Garfield County, Utah. The Shootering Canyon Plant is strategically located in one of the United States’ historically most prolific uranium producing regions and is one of only three licensed uranium plants in the United States.
Anfield’s traditional uranium assets consist of mining interests and state leases in southeastern Utah, Colorado and Arizona, covering areas where uranium has been mined and explored in the past. Anfield’s existing uranium assets include the Velvet Wood Project, Slick Rock Project, West Slope Project, Frank M. Uranium Project and Findlay Tank Breccia Pipe. I just finished an integrated NI 43-101 PEA for the Velvet Wood and Slickrock projects. The PEA is preliminary in nature and includes inferred mineral resources that are considered too geologically speculative to apply economic considerations that can be classified as Mineral Reserves, and as a result there is no certainty that the preliminary economic valuations included will materialize. All conventional uranium assets are located within a 200 mile radius of the shooting mill.
Technical disclosure
Table 1. Anfield’s existing conventional uranium-vanadium project portfolio resources.
| plan | position | classification | tons (kt) |
uranium School year (%U3○8) |
include uranium (MLB U3○8) |
vanadium School year (% V2○Five) |
include vanadium (MLB V2○Five) |
||
| velvet wood | Utah | M&I | 811 | 0.29 | % | 4.6 | – | – | |
| Estimate | 87 | 0.32 | % | 0.6 | 0.404 | % | 7.3 | ||
| west slope | Colorado | It is shown | 1,367 | 0.197 | % | 5.4 | – | – | |
| Estimate | 1,367 | – | – | 0.984 | % | 26.9 | |||
| historic* | 630 | 0.31 | % | 3.9 | 1.59 | % | 20.0 | ||
| slick rock | Colorado | Estimate | 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 | |||
*Our Qualified Persons have not done sufficient work to classify these Historical Estimates as Current Mineral Resources and Anfield does not treat such Historical Resources as Current Mineral Resources.
Velvet Wood: Velvet Wood/Slick Rock PEA was created by Douglas L. Beahm, PE, PG, Harold H. Hutson, PE, PG, Carl D. Warren, PE, PG, and Terence P. (Terry) McNulty, PE, D. Sc. 3 years). Mineral Resources are not Mineral Reserves and have not demonstrated economic viability according to CIM criteria. GT cutoff varies by region from 0.25% to 0.50%.
West Slope: NI 43-101 resource estimates for JD-6, JD-7, JD-8, and JD-9 properties. Completed by BRS Inc. (Effective March 2022). Historical resource estimates for SR-11, SR-13A, SM-18 N, SM-18 S, LP-21, and CM-25 assets. Completed by Behle Dolbear for Cotter Corporation (August 2007). Indicated and estimated resources using a GT cutoff of 0.1 ft% eU3○8; historical resources using a cutoff of 0.05% U3○8.
Slick Rock: Velvet-Wood/Slick Rock’s PEA was created by PE, PG Principal Engineer, Douglas L. Beahm, PE, PG, Harold H. Hutson, PE, PG, Carl D. Warren, PE, PG, and Terence P. (Terry) McNulty, PE, D. Sc. ) ). Mineral Resources are not Mineral Reserves and have not demonstrated economic viability according to CIM criteria. GT cutoff varies by region from 0.25% to 0.50%.
Frank M: Frank M’s Historical Technical Report for Uranium One Americas was written by Douglas L. Beahm, PG Principal Engineer, BRS Inc. and Andrew C. Anderson, PG Senior Engineer/Geologist, BRS Inc., and was dated June 10, 2008. Frank M’s historical resource used a GT cutoff of 0.25%.
Findlay Tank: The Findlay Tank Historical Technical Report was prepared for Uranium One America, dated October 2, 2008, by Douglas L. Beam, PG Principal Engineer, BRS Inc. A grade cutoff of 0.05% eU was used in the Findlay Tank Historical Resource.3○8.
Artillery Peak: Artillery Peak Exploration Project, Mohave County, Arizona, 43-101 Technical Report, by Karen Wenrich, PhD, October 12, 2010. GT cutoff is 0.01% to 0.05% depending on region.
Marquez-Juan Tafoya: The Marquez-Juan Tafoya Historical Technical Report, Preliminary Economic Assessment, prepared for Uran Energy Corporation, was authored by BRS Inc. Principal Engineer Douglas L. Beam, PE, PG and McNulty and Associates Terrence P. McNulty, PE, PhD, dated June 9, 2021. Mineral resources are reported at 0. 60GT cutoff.
On behalf of the Board of Directors
Anfield Energy Co., Ltd.
Cory Diaz, Chief Executive Officer
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
contact:
Anfield Energy Company
Clive Mostert
Corporate communication
780-920-5044
contact@anfieldenergy.com
www.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 statements of beliefs, plans, expectations and intentions regarding the future.
Except for the historical information contained herein, the 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 future results, performance or achievements. statements expressed or implied by such statements; Statements that are not historical facts (including statements that precede or follow or contain words such as “estimate,” “expect,” “believe,” “plan,” “expect,” or similar statements) are forward-looking statements. Our risks and uncertainties include, but are not limited to, risks associated with mineral exploration and financing, risks indicated from time to time in our most recent annual and quarterly reports and other publicly available information about minerals. company. Other risks include risks related to future capital requirements and the ability and level of support for the company’s exploration and development activities. There can be no assurance that the Company’s exploration efforts will be successful or ultimately achieve commercial success. These forward-looking statements are made as of the date of this news release and the Company does not undertake any obligation to update any forward-looking statements or the reasons why actual results may differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there is no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all information contained herein and 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 the management of the company who take full responsibility for its contents.
