VANCOUVER, British Columbia, Oct. 02, 2018 – Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to learn that Wyoming Governor, Matt Mead, signed an agreement with the United States Nuclear Regulatory Commission (NRC) which gives the Wyoming Department of Environmental Quality (DEQ) the authority to regulate uranium recovery operations in Wyoming. With this approval, Wyoming becomes the 38th state to receive Agreement State status.
Governor Mead stated, “Wyoming DEQ has done a great job ensuring that all the program requirements have been met and will continue to be effectively implemented. I thank the NRC and DEQ for standing this program up quickly and cost efficiently.”
This is a significant – and positive – development for Anfield. Under the Wyoming DEQ approval process, the Company will be able to advance the Charlie Project more quickly upon the expected closing of the transaction with Cotter Corporation.
As reported in our previous news release, dated September 5, 2018, the recently-announced resource estimate for the Charlie Project includes:
- an Indicated Mineral Resource of 1,260,000 tons of mineralized material with an average grade of 0.123% eU3O8 (equivalent to an Indicated Resource of 3,100,000 pounds of eU3O8); and
- an Inferred Mineral Resource of 558,000 tons of mineralized material with an average grade of 0.125% eU3O8 (equivalent to an Inferred Resource of 1,400,000 pounds of eU3O8); and
- an Exploration Target ranging from 280,000 to 680,000 tons with an average grade ranging from 0.090 to 0.151 %eU3O8 (equivalent to an Exploration Target ranging from 500,000 to 1,300,000 pounds of eU3O8).
Corey Dias, Anfield CEO, states, “We are very pleased to see Wyoming achieve Agreement State status. This is critical as it will allow for an even faster path to the licensing and permitting of projects, similar to what we have experienced in Utah. Moreover, it creates a much more straightforward path towards potential production for our 25 Wyoming-based uranium projects, including the Charlie Project, as the timeline for licensing and permitting is expected to decrease in this new environment. As a reminder, Charlie is the focus of Anfield’s near-term ISR production strategy. Anfield’s near-term goal of creating a uranium production complex in Wyoming through the combination of Charlie and Anfield’s resin processing agreement with Uranium One is strengthened by this news”.
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 two production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin 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. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.
Anfield’s 24 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 Nine Mile Lake, Red Rim and Clarkson Hill.
The Charlie Project is located in the Powder River Basin in Wyoming near an existing uranium ISR mine and operating oilfields which have an infrastructure of roads and power lines. Previous owners and operators of the Charlie Project have conducted sufficient exploration drilling to delineate a portion of a major roll-front system which crosses the property and continues on to adjacent lands. As a result of this previous work, a database of over 1,300 drill holes is available as well as several hydrological, analytical and mineralogical reports. Previous reports have shown that the uranium mineralization underlying the Charlie Project exist as narrow and sinuous multiple roll-fronts which are commonly developed in the Tertiary sedimentary formations of the Powder River Basin. Roll-fronts of this type are currently mined by ISR methods on the adjacent Christensen Ranch Project and further south at Smith Ranch/Highland.
Arizona/Utah – 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 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, as well as the Findlay Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
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Anfield Energy, Inc.
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