Mr. Corey Dias reports

ANFIELD ENERGY ANNOUNCES C$5 MILLION FINANCING

Anfield Energy Inc. has entered into an agreement with Haywood Securities Inc., on behalf of a syndicate of agents, which have agreed to sell, on a commercially reasonable efforts private placement basis, 90,909,090 units of the company at a price of 5.5 cents per unit, for aggregate gross proceeds of $4,999,999.95. Each unit will comprise one common share in the capital of the company plus one-half of one share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of 8.5 cents for 24 months following the completion of the offering.

The units to be issued under the offering will be offered to purchasers pursuant to the listed issuer financing exemption (LIFE exemption) under Part 5A of National Instrument 45-106, and will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company plans to use the net proceeds from the offering to finance the advancement of the company's uranium and vanadium assets in the United States, and for general corporate purposes, including the acquisition of the Marquez-Juan Tafoya uranium project in New Mexico (as previously announced by the company on June 6, 2023). The offering is scheduled to close on or about July 6, 2023, and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange. The company has agreed to pay the agents a cash commission of 6 per cent of the gross proceeds raised under the offering and will issue to the agents that number of compensation options equal to 6 per cent of the units issued under the offering, with each compensation option exercisable into one share at an exercise price equal to the offering price for a period of 24 months.

About Anfield Energy Inc.

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.

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