Mr. Corey Dias reports

ANFIELD ENERGY COMPLETES FIRST UNDERGROUND BLAST IN NEARLY 40 YEARS AT VELVET-WOOD MINE

Anfield Energy Inc. has completed the first underground blast at its Velvet-Wood uranium and vanadium project in San Juan county, Utah, following receipt of a blast permit from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) in June, 2026. This is the first underground blast conducted at the project in nearly 40 years and represents another key milestone in the continuing underground rehabilitation and development program.

Anfield has now rehabilitated the first 700 feet of the decline. Rehabilitation work completed to date includes the installation of rock bolts and wire mesh for improved ground support, road building, mucking (removal of waste rock from the decline), surveying, and the installation of mine ventilation and utilities. This includes a primary surface ventilation fan and attendant ducting, an air compressor, air line, water line, electrical power, and communication infrastructure.

In parallel, construction of the water treatment plant and installation of the dewatering pump is nearly complete. The company expects to begin testing and sampling of the plant within the coming weeks. After construction is complete, Anfield will undertake a 60-day testing and reporting period to confirm the system's effectiveness before advancing to the dewatering of the historic workings. The company expects the remaining portion of the decline to dewater within three weeks of active dewatering, with approximately two to three months required to dewater the existing underground workings.

This work supports Anfield's hub-and-spoke uranium and vanadium strategy, centered on the fully permitted Shootaring Canyon mill in Utah. Velvet-Wood last produced in 1984.

Anfield also recently hosted a site visit attended by representatives of San Juan county, the Utah State Senate, the Governor's Office of Economic Development, the Utah Division of Oil, Gas and Mining, and the Utah Office of Energy Development. The visit underscores continued strong support within the state of Utah for projects such as Anfield's Shootaring Canyon mill and Velvet-Wood mine.

This progress at Velvet-Wood continues against the backdrop of the Trump Administration's sustained focus on strengthening America's domestic nuclear fuel supply chain and critical minerals production. Utah's recent selection as one of five state contenders for Department of Energy nuclear life cycle campuses further underscores the state's strategic importance in advancing responsible U.S. uranium and vanadium development.

Corey Dias, chief executive officer of Anfield, commented: "Completing the first underground blast at Velvet-Wood since the mid-1980s, following the receipt of our ATF blast permit in June, is a concrete step in rehabilitating the decline and moving the project toward dewatering of the historic workings. The water treatment plant and dewatering pump are nearly complete, which gives us a defined path to the next phase of underground development. Continued engagement from Utah state and local officials underscores support for responsible development of domestic uranium and vanadium resources. We remain focused on advancing Velvet-Wood as a key component of our hub-and-spoke strategy centered on the Shootaring Canyon mill."

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.

We seek Safe Harbor.