Mr. Corey Dias reports

ANFIELD ENERGY AMENDS CREDIT FACILITY WITH SHAREHOLDER

Anfield Energy Inc. has amended the terms of its previously announced credit facility (see the company's news release dated Oct. 6, 2023), with Extract Advisors LLC, as agent of the credit facility. Pursuant to the amendment, Extract consented to the acquisition of the company's proposed acquisition of additional Department of Energy leases in Colorado (see the company's news release dated Jan. 3, 2024), and has agreed to amend to ease certain covenants on the part of the company, including providing greater flexibility in certain corporate transactions without Extract's consent and alleviating the company's working capital requirement.

In consideration for the Amendment and Consent, the Company has agreed to issue 4,000,000 warrants (the "Warrants") to Extract, where each Warrant will entitle Extract to acquire one common share of the company at an exercise price of $0.095 per warrant until September 26, 2028. Extract's Consent and the Amendment are conditional upon the Company's issuance of the Warrants to Extract. The issuance of the Warrants is subject to the approval of the TSX Venture Exchange.

About Anfield

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, 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 Slick Rock Project, the West Slope Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. A combined NI 43-101 PEA has been completed for the Velvet-Wood and Slick Rock Projects. 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.

We seek Safe Harbor.