Mr. Corey Dias reports

ANFIELD PREPARES FOR AN INCREASE IN MILL PRODUCTION CAPACITY WITH THE ACQUISITION OF ADDITIONAL DOE LEASES IN COLORADO

Anfield Energy Inc.'s subsidiary, Highbury Resources Inc., has entered into a definitive agreement with Gold Eagle Mining Inc. (GEM) and Golden Eagle Uranium LLC (GEU) to acquire a 100-per-cent interest in 12 Department of Energy (DOE) leases and associated data in various counties in Colorado. The acquisition meets Anfield's strategic objective of securing additional uranium and vanadium prospects as the company prepares for an increase in production capacity throughput at Shootaring to 1,000 tons per day from 750 tons per day as part of its mill restart plan. Crucially, it provides Anfield with control over 21 of the 31 DOE leases in existence in Colorado, further strengthening the company's long-term strategic production position in the state.

Corey Dias, Anfield's chief executive officer, commented: "We are quite pleased to acquire these 12 additional DOE leases, which we believe are complementary to both our Slick Rock project and the nine DOE leases we currently hold in Colorado, and underscores our commitment to uranium and vanadium production coming from this state. The strategic value of these leases cannot be overstated, as many of them are contiguous to Anfield's current Colorado holdings and could, therefore, be combined to create improved production economies of scale. Moreover, given that the stated uranium resource associated with each lease has been determined by the DOE and its predecessor agencies and, when married to the historical production at each lease site, we are confident that these uranium pounds will serve as an established base from which these resources could grow. Finally, the securing of these leases provides the company with the flexibility to categorize all of our DOE leases within our DOE lease portfolio in order to identify those we would consider the most prospective and prioritize their advancement to production.

"We will continue to seek out prospective uranium and vanadium assets which align with our two-fold production strategy. The near-term strategy centres on our advanced Utah and Colorado uranium and vanadium projects -- Velvet Wood, West Slope, Slick Rock and our newly-acquired DOE leases -- underpinned by our wholly owned Shootaring Canyon mill, one of only three licensed, permitted and constructed conventional mills in the U.S. The long-term production strategy remains focused on the acquisition of complementary assets with the potential to feed additional uranium and vanadium resources to our Shootaring Canyon mill. The uranium and vanadium pounds associated with these DOE leases may serve as near-term feed under either the mill's current throughput capacity of 750 tons per day or the proposed expanded throughput capacity of 1,000 tons per day. Finally, the company will continue to pursue an expanded annual licenced uranium production capacity of up to three million pounds."

DOE leases

There has been historical uranium and vanadium production on 10 of the 12 acquired DOE leases, as shown in the associated table.

According to the DOE uranium lease program, there remains significant uranium pounds associated with many of the acquired leases, as shown in the associated table. Please note that the bid amount, that is, the stated uranium pounds as determined by DOE and its predecessor agencies such as the Atomic Energy Corp., is a function of the historical permitted ore from a DOE lease minus the historical production from that lease. The company is providing this information to assist readers in assessing the scope of the DOE leases. Readers are cautioned that these amounts are not necessarily indicative of mineral resources which may exist on the DOE leases, nor is the company treating them as current mineral resources.

As consideration for the DOE leases and associated data, the sellers will receive:

• At closing, $500,000 (U.S.) in cash and $1.25-million (U.S.) in common shares of the company valued at the volume-weighted average trading price of the company's common shares as traded on the TSX Venture Exchange for the 10 trading days ending on the last trading day prior to the closing date, subject to a minimum issue price of five cents per share;
• $750,000 (U.S.) in cash at the one-year anniversary of closing;
• $1-million (U.S.) in cash at the two-year anniversary of closing;
• $1-million (U.S.) in cash at the three-year anniversary of closing; and
• $1.5-million (U.S.) in cash at the four-year anniversary of closing.

Completion of the acquisition of the DOE leases, and the issuance of the consideration shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the consideration shares will be subject to statutory restrictions on resale for a period of four months and one day. No finder's fees or commissions are owing by the company in connection with the acquisition of the DOE leases.

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 focused on its conventional asset centre, as summarized below:

• Arizona/Utah/Colorado -- 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, Colorado 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, the West Slope project, as well as the Findlay Tank breccia pipe. A NI 43-101 preliminary economic assessment has been completed for the Velvet-Wood project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and, resultantly, there is no certainty that the included preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring mill.

Technical disclosure

We seek Safe Harbor.