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Anfield Energy Inc
Symbol AEC
Shares Issued 946,836,584
Close 2023-11-06 C$ 0.08
Market Cap C$ 75,746,927
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Anfield files Slick drill program permit application

2023-11-07 12:53 ET - News Release

Mr. Corey Dias reports

ANFIELD FILES DRILL PROGRAM PERMIT APPLICATION FOR SLICK ROCK

Anfield Energy Inc. has submitted a drill permit application to the Bureau of Land Management (BLM) to commence a 20-hole drill program at its Slick Rock uranium and vanadium project. This is a crucial step in Anfield's plan to secure a large mine permit for Slick Rock as the company looks toward future uranium and vanadium production.

Corey Dias, Anfield's chief executive officer, commented: "We are very pleased to commence development at Slick Rock as this project is integral to our hub-and-spoke uranium and vanadium production strategy. The drill program will allow us to both verify and upgrade our known resource at site and meet the criteria to secure a large mine permit from the appropriate agency. Our aim is to have Slick Rock ready for production ahead of the restart of the Shootaring Canyon mill, with initial feed ready for transport once the mill is ready to receive it. Based on our previously issued preliminary economic assessment for Shootaring, Slick Rock and Velvet Wood, production could average 750,000 pounds of uranium and 2.25 million pounds of vanadium per year over 16 years, of which roughly two-thirds of annual uranium production will come from Slick Rock."

The drill program will be used to collect geologic information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters.

Qualified person

Douglas L. Beahm, PE, PG, principal engineer at BRS Inc., is a qualified person as defined in National Instrument 43-101 and has reviewed and approved the technical content of this news release.

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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