Mr. Corey Dias reports

ANFIELD ENERGY WELCOMES DOUG BEAHM AS CHIEF OPERATING OFFICER TO SPEARHEAD THE ADVANCEMENT OF ITS U.S. URANIUM PRODUCTION PROJECTS

Doug Beahm, PE, PG, has joined Anfield Energy Inc. as its chief operating officer. Mr. Beahm's 50 years of extensive uranium-related experience in exploration, project assessment, mine planning and development, permitting, mine and processing facility operation, and mine reclamation is critical to Anfield's next steps of advancing its assets to become a U.S. uranium producer.

Corey Dias, Anfield chief executive officer, states: "We at Anfield are extremely pleased that Doug Beahm has agreed to join Anfield as chief operating officer. Mr. Beahm has been principal of his engineering firm BRS Inc. since its formation in 1986, during which time he has provided engineering consulting services to many uranium companies and has played a key role in identifying and delineating resources in a number of sectors, including uranium, as well as conducting preliminary economic assessments and various levels of feasibility studies. His experience related to engineering, procurement and construction management (EPCM) work is a critical piece of Anfield's next steps towards uranium production. Mr. Beahm's familiarity with all of Anfield's assets, both before and during Anfield's ownership, will also provide an important level of insight and expertise as we commence refurbishment of the Shootaring Canyon mill and pursue mine restart at both the Velvet-Wood and Slick Rock mines. As COO of Anfield, Mr. Beahm will lead our next phase of asset advancement toward production. We are excited to have him join our team.

The timing of Mr. Beahm's inclusion is critical, given that Anfield plans to submit its Shootaring Canyon mill uranium production restart application with the State of Utah in early April of 2024. This is a milestone event for the company as it will signal a crucial forward step in Anfield's plan to move Anfield's radioactive materials licence from its current standby status to operational status which, critically, would position Anfield to commence uranium production once refurbishment of Shootaring is completed. The review is expected to take approximately 12 months, during which time Anfield will be able to commence initial refurbishment at the mill. Completion of the refurbishment of the mill is expected to be completed approximately 12 months following the licence upgrade, resulting in a 24-month time frame from restart application submittal to completion of mill refurbishment. In parallel to the mill restart, Anfield is in the permitting process on several of its mine assets."

Mr. Beahm will also continue to serve as the principal of BRS and, while BRS will continue to serve other clients, BRS will also bring to Anfield the expertise of its staff which includes 16 professional and technical members of which five are professional engineers and four are professional geologists.

About Mr. Beahm

Mr. Beahm, PE, PG, an engineering graduate of the Colorado School of Mines, has 50 years of professional and managerial experience in natural resource exploration, mine and mill development, mine and processing facility operations, environmental permitting, and mine reclamation. Since graduation, Mr. Beahm has held senior positions with mining companies such as Homestake Mining, Union Carbide Corp. and AGIP, prior to establishing the engineering consulting firm BRS. His uranium-related expertise in mine operations and as a consultant to the minerals industry extends to both in situ recovery (ISR) projects and hard-rock conventional projects in the United States and Paraguay.

About the uranium market

The macro view of the nuclear and uranium markets remains strongly positive. With a continued shift away from Russia, the value of European and North American uranium conversion and enrichment has increased significantly as these continents look to not only pivot from Russian-sourced fossil fuels but to also embrace nuclear power. In fact, legislation introduced in U.S. Congress seeks to prohibit the import of enriched uranium from Russia, accelerating the need for increased Western capacity. Moreover, the challenges related to Kazakhstan's uranium supply chain have already disrupted product flow to the West. As a result, China has taken the opportunity to seek closer ties to Kazakhstan as it continues to build out its extensive nuclear reactor fleet, negatively affecting uranium supplies available to the United States and other Western countries.

In the U.S., the National Nuclear Security Administration's Uranium Reserve awarded five contracts for near-term supply of uranium and the Sprott Physical Uranium Trust purchased millions of pounds of uranium on the spot market, further removing supply from the market. Moreover, the U.S. government's creation of a 200-gigawatt energy road map to expand domestic milling and mining operations by 500,000 million tonnes per year -- 110 million pounds of uranium per year -- is a significant catalyst for U.S.-based producers. This is taking place while U.S. uranium production fell to essentially zero in the fourth quarter of 2023.

Significantly, Japan has begun to restart its nuclear reactors -- including its largest reactor -- and extend the life of others while commissioning additional ones, underscoring Japan's 180-degree turn regarding nuclear. This decision reflects the worldwide recognition of the need for new reactors to meet population increases, economic growth, electrical intensification and the critical task of meeting carbon emission targets. The requirement for increased baseload supply is sizable. The worldwide requirement for major new baseload supply is being met with plans in many countries for both large-scale (one GW) reactors and small modular reactors (SMRs). The World Nuclear Association in March, 2024, records that there are 61 reactors under construction worldwide and another 105 reactors planned. In short, it remains a story of supply and demand; demand is rapidly growing, while supply is shrinking.

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.

We seek Safe Harbor.