Mr. Corey Dias reports

ANFIELD ENERGY ANNOUNCES PRICING OF US$6.0 MILLION UNDERWRITTEN PUBLIC OFFERING OF COMMON SHARES

Anfield Energy Inc. has priced an underwritten public offering of 1,491,305 common shares at a price of $4.00 (U.S.) per common share for aggregate gross proceeds to the company of $6.0-million (U.S.). The offering is being conducted through a syndicate of underwriters led by Northland Capital Markets and Roth Capital Partners as joint bookrunners, pursuant to an underwriting agreement dated July 30, 2026, by and among the company and the underwriters.

In connection with the offering, the company has granted the underwriters an option to purchase up to 223,695 additional common shares at the offering price. The overallotment option is exercisable, in whole or in part, for up to 30 days after the date of the underwriting agreement.

The company intends to use the net proceeds from the offering to finance capital commitments to the Paradox complex, the Velvet-Wood project, the Slick Rock complex and the Shootaring Canyon mill, for working capital and general corporate purposes.

Closing of the offering is expected to occur on or about July 31, 2026, subject to the satisfaction of customary closing conditions, including receipt of required approval of the TSX Venture Exchange.

About Anfield Energy Inc.

Anfield Energy is a uranium and vanadium development and near-term production company committed to becoming a significant supplier of energy-related fuels through sustainable, efficient growth of its United States-based assets. The company's flagship asset is the Shootaring Canyon mill in Utah, one of only three licensed, permitted and constructed conventional uranium mills in the country. Anfield's portfolio includes the advanced Velvet-Wood project (Utah) and other conventional uranium-vanadium assets in Utah, Colorado, Arizona and New Mexico. All of Anfield's assets are located in the United States, positioning the company to help meet America's growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium annually yet produces only a small fraction domestically.

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