Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
announce that it has entered into a definitive agreement with
LiVada Corporation (“the Seller”) to acquire a 100% interest in 119
unpatented mining claims and historical data to further consolidate
its uranium-rich Artillery Peak project area, located in Mohave
County, Arizona (the “
Claims”). The Claims, which
are contiguous to Anfield’s current project in the Date Creek
Basin, double the number of Anfield’s claim holdings in the area,
bringing the total number of Claims to 238. The combined claim body
will be considered by BRS Inc. as part of the Company’s upcoming NI
43-101 uranium resource report for its Date Creek Basin/Artillery
Peak projects.
Corey Dias, Anfield’s CEO commented: “We are
pleased to begin 2023 with a further expansion of our uranium
holdings in the Artillery Peak project area through the acquisition
of these additional claims and related data. We will maintain this
momentum as we continue to expand our Arizona-based holdings in
this region which also hosts Uranium Energy Corporation’s Anderson
uranium mine. In addition to its uranium prospectivity, the Seller
also believes the project area is prospective for lithium
mineralization.”
Mr. Dias further stated, “This undertaking fits
our previously-stated two-fold strategy of acquiring uranium assets
which fit into either our near-term or longer-term production
plans. The near-term strategy centers on our Colorado- and
Utah-based uranium and vanadium mines, underpinned by our
wholly-owned Shootaring Canyon mill, one of only 3 licensed
conventional mills in the U.S. The longer-term production strategy
– of which the Artillery Peak project is part – includes the
acquisition of complementary assets with the potential to feed
additional uranium and vanadium resource to our Shootaring Canyon
mill. We believe that the expected uranium resource delineated for
these expanded holdings will serve as a core component of our
longer-term strategy.”
As consideration for the claims and associated
data, the Sellers will receive US$50,000 in cash and 6 million
common shares (the “Consideration Shares”) of Anfield. Completion
of the acquisition of the Claims, and the issuance of the
Consideration Shares, remains subject to the approval of the TSX
Venture Exchange. Following issuance, the Consideration Shares will
be subject to statutory restrictions on resale for a period of
four-months-and-one-day. No finders’ fees or commissions are owing
by the Company in connection with the acquisition of the
Claims.
Qualified Persons
Douglas L. Beahm, P.E., P.G., principal engineer
at BRS Inc., is a Qualified Person as defined in NI 43-101 and has
reviewed and approved the technical content of this news
release.
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) |
ContainedUranium(Mlbs
U3O8) |
VanadiumGrade(%
V2O5) |
ContainedVanadium(Mlbs
V2O5) |
Velvet-Wood |
Utah |
M & I |
811 |
0.29% |
4.6 |
- |
- |
|
|
Inferred |
87 |
0.32% |
0.6 |
- |
- |
West
Slope |
Colorado |
Indicated |
2,452 |
0.142% |
6.9 |
- |
- |
|
|
Inferred |
2,452 |
- |
- |
0.708% |
34.7 |
|
|
Historic* |
656 |
0.26% |
3.5 |
1.49% |
19.5 |
Slick
Rock |
Colorado |
Inferred |
2,549 |
0.228% |
11.6 |
1.37% |
69.6 |
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 |
|
|
* 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 was
authored by Douglas L. Beahm, P.E., P.G. Principal Engineer, of BRS
Inc., Terence P. (Terry) McNulty, P.E., D. Sc., of T.P. McNulty and
Associates Inc. (May 31, 2016). 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: Historical resource estimate
prepared by BRS Engineering, Inc. (effective April 2014). GT
cut-offs range 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%.
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
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FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
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INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE
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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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