VANCOUVER, British Columbia, April 29, 2025 – Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) welcomes the U.S. government’s efforts to facilitate domestic uranium mining through the issuance of Executive Orders (“EO”). These efforts not only bring increased investor attention to the sector but will also help boost Anfield’s production prospects as one of very few companies with a near-term path to U.S. uranium production.
The Administration’s relevant Executive Orders are as follows:
Establishing the National Energy Dominance Council (“NEDC”)
The NEDC, Chaired by the Secretary of the Interior and Vice-Chaired by the Secretary of Energy, is tasked to prepare and recommend a strategy to increase domestic energy production. Other agencies represented on the NEDC are the Department of State, Department of Defense, Environmental Protection Agency, U.S. Trade Representative, the Office of Management and Budget and the Department of Transportation.
Immediate Measures to Increase American Mineral Production
This EO aims to boost American mineral production, streamline permitting and enhance national security. It directs Federal agencies to accelerate domestic mining, processing and refining of key minerals – including uranium – by prioritizing strategic projects, reducing regulatory delays, improving access to Federal lands and mobilizing public and private investment. This EO also invokes the Defense Production Act, which is designed to address US reliance on foreign sources for minerals.
Unleashing American Energy
This EO seeks to expand production of energy and critical minerals in the U.S. and includes uranium as a critical mineral. To this end, this EO pushes to accelerate regulatory approvals in furtherance of this goal. Amongst other considerations, the EO requires a review of Agency actions as follows: 1) identify and revise any regulations that are decreed to impede energy development, with revisions to be developed in consultation with the White House within 30 days; and 2) have the US Geological Survey (“USGS”) consider updating the USGS’s list of critical minerals, “…including for the potential of including uranium”.
Zero-Based Regulatory Budgeting to Unleash American Energy
This EO creates a regulatory budgeting framework to streamline Federal energy regulations at Federal departments such as the Nuclear Regulatory Commission (”NRC”), Department of Energy (“DoE”), the Environmental Protection Agency (“EPA”) and the Federal Energy Regulatory Commission (“FERC”). It also mandates sunset clauses for both existing and new regulations (excluding permitting regimes) unless affirmatively extended.
Corey Dias, Anfield CEO, states “As a Company which is currently pursuing a NASDAQ listing, and with all of its uranium assets in the United States – including one of only three licensed, permitted and constructed conventional uranium mills in the U.S. – Anfield is well-positioned to benefit from the U.S. government’s Executive Orders. The U.S. has the largest installed base of nuclear reactors of any country in the world and consumes close to 50 million pounds of uranium on an annual basis; however, its domestic uranium production represents less than 1% of its annual requirements. Anfield aims to be a needed, near-term contributor to the U.S. domestic uranium supply.”
“The establishment of the NEDC to create a national energy production strategy – which includes uranium as an energy source – provides Anfield with unique opportunities. The NEDC will introduce mandates to accelerate domestic mineral production through faster regulatory approvals, which will open the door to increased investment – both private and public – and will provide greater access to Federal lands for the purpose of potential mineral production. Anfield is positioned to take advantage of these Executive Orders to advance its uranium assets into production and become a U.S. domestic supplier. In our path to production:
- We have submitted our Plan of Operations (PoO) for the Velvet-Wood uranium project in Utah, and expect to receive approval by the end of 2025;
- We have recently completed our Slick Rock data review and expect to release an updated uranium and vanadium resource estimate later in 2025; and
- We continue to work with the Utah Department of Waste Management and Radiation Control (UDWMRC) to both upgrade our current Radioactive Materials License (RML) for our Shootaring mill to Operational from Standby status and increase our annual uranium production capacity to 3 million pounds per year from its current 1 million pounds per year.
“As shown above, the Company is currently aligning the development timelines for its core uranium and vanadium mining projects – Slick Rock and Velvet-Wood – in order to have both ready for production prior to the restart of the Shootaring Canyon mill.
As a reminder, the combined 2023 Preliminary Economic Assessment (PEA) for Slick Rock and Velvet-Wood demonstrated a pre-tax NPV8% of US$238M and IRR of 40% assuming U3O8 and V2O5 prices of US$70/lb and US$12/lb, respectively.”
Qualified Person
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.
Results of the PEA represent forward-looking information. This economic assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. For further information, readers are encouraged to review the PEA which is available on the corporate website for the Company (www.anfieldenergy.com) and under the SEDAR+ profile for the Company (www.sedarplus.ca).
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).
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Contact:
Anfield Energy Inc.
Corey Dias, Chief Executive Officer
Corporate Communications
604-699-5762
[email protected]
www.anfieldenergy.com
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 news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated completion of the Consolidation and the pursuit of a listing on a US stock exchange.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will receive shareholder approval for the Consolidation; that the Company will receive regulatory approval for the Consolidation; and that the Company will be able to pursue a listing on a US stock exchange. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that the Company may not use the proceeds of the Equity Financing as currently anticipated; that the Company may not receive regulatory approval with respect to the Equity Financing; the risk that the Company may not have the resources, or may otherwise be unable to pursue a listing on a US stock exchange; risks relating to the actual results of the Company’s operational activities, fluctuating commodity prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. We seek safe harbor.