Mr. Corey Dias reports

ANFIELD RESOURCES INC. CONSIDERS VANADIUM POTENTIAL OF ITS ASSETS

Anfield Resources Inc., as part of its asset review, has identified for consideration the vanadium potential of both its Velvet-Wood uranium property and its Henry Mountains uranium property. Both of these assets were acquired as part of the Uranium One transaction.

Velvet-Wood project

The Velvet-Wood project is one of the most advanced conventional uranium projects in the United States. Between 1979 and 1984, approximately 400,000 tons of ore were mined from the Velvet deposit at grades of 0.46 per cent U3O8 (triuranium octoxide) and 0.64 per cent V2O5 (vanadium oxide), recovering approximately four million pounds of U3O8 and five million pounds of V2O5 (vanadium oxide).

The remaining mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8 at a grade of 0.29 per cent U3O8 (measured and indicated resource) and 552,000 pounds of U3O8 at a grade of 0.32 per cent U3O8 (inferred resource). A vanadium resource has not yet been calculated (source: Velvet-Wood mine uranium project, San Juan county, Utah, U.S., National Instrument 43-101 mineral reserve and resource report, by BRS Inc., Nov. 14, 2014).

Henry Mountains project

Henry Mountains lies within 12 miles of the Shootaring Canyon mill. Based on historical production and resources hosted by the Salt Wash member of the Jurassic Morrison formation, U.S. Energy identified geological targets within two areas of the Henry Mountains. Combined, the potential of these two target areas is five million tons grading 0.3 per cent U3O8 to 0.4 per cent U3O8, containing 30 million pounds to 40 million pounds of U3O8, and 0.5 per cent V2O5 to 0.6 per cent V2O5, containing 50 million pounds to 60 million pounds of V2O5.

U.S. Energy stated that the potential quantity and grade of the exploration targets were conceptual in nature, and there was no assurance the targets would be further defined by further exploration drilling. Further, Anfield Resources has been unable to verify the data and further states that the presence of uranium mineralization and geological targets on the U.S. Energy property are not necessarily indicative of similar mineralization on the Anfield Resources Henry Mountains property.

Vanadium market

The historical vanadium market focused on its ability to strengthen steel and other alloys, along with increased use in the aerospace and military markets. However, with the greater awareness of the risks associated with climate change and greenhouse gases, vanadium has become a significant player in the energy market. Vanadium has the ability to store mass energy via vanadium flow batteries, which strengthens the renewable energy proposition of both wind and solar power. Moreover, lithium-vanadium phosphate batteries continue to bridge the perceived reliability gap between electric vehicles and their gas-driven counterparts. Industry spending on energy storage is expected to be approximately $75-billion (U.S.) in 2016, reaching $200-billion (U.S.) in 2020 alone.

R. Tim Henneberry, PGeo, adviser to Anfield, is the qualified person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.

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