Received by email:
File: 8-15-14 ARY NR -Shootaring Mill Acquisition.docx
608, 1199 West Pender Street
Vancouver, BC V6E 2R1
Tel: (604) 687-0300
Fax: (604) 687-0151
www.anfieldresources.com
TSX.V: ARY
OTCQB: ANLDF
ANFIELD RESOURCES INC. INKS DEAL TO ACQUIRE SHOOTARING CANYON URANIUM MILL AND CONVENTIONAL URANIUM ASSETS
VANCOUVER, BRITISH COLUMBIA-TNW-ACCESSWIRE-August 15, 2014-Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) ("Anfield
--->" or "the Company") is thrilled to announce that it has entered into definitive agreements with Uranium One to acquire
---> the Shootaring Canyon uranium mill (the "Shootaring Mill") located in Garfield County, Utah, and a portfolio of conve
--->ntional uranium assets containing a historical estimate of U3O8 resource of 6.8 million pounds (see Table 1 below).
--->The properties, located in Utah, Arizona and South Dakota increase Anfield's uranium asset acreage by more than 250%.
---> The deal, which is valued at five million US dollars, will be settled over a period of up to four years with a combin
--->ation of cash and shares.
This transaction provides a number of strategic advantages to Anfield, including:
Potential creation of one of the very few uranium producers in the U. S.
Shootaring Canyon Mill is one of only three licensed uranium mills in the United States, reflecting its scarcity value
--->.
The establishment of Anfield as one of the largest owners of uranium properties in the U.S.
Increases Anfield's uranium asset acreage by more than 250% to reach approximately 65,500 acres (~26,507 hectares).
Adds a historical estimate of U3O8 resource of 6.8 million pounds.
The flagship resource, the Velvet-Wood Deposit, contains a historical resource estimate of 4.63 million pounds of meas
--->ured and indicated U3O8 at an average grade of 0.285%.
Past production at Velvet-Wood recovered 4 million pounds at an average grade of 0.46% U3O8.
The location of the acquired assets is positive from a production perspective
The geographical position of both the Shootaring Mill and the acquired uranium properties are within one of the histor
--->ically most prolific uranium production areas in the U. S.
Anfield's uranium holdings, which include past producing mines, lie within a 125-mile radius of the Shootaring Mill.
The control over the production process from mining to production of yellowcake offers both operational synergies and
--->capital efficiencies.
The ability to address the U.S. uranium deficit;
Domestic consumption of 57 million pounds of U3O8 per year versus domestic production of only 4.6 million pounds of U
--->3O8 per year.
Anfield's CEO Corey Dias commented: "We are extraordinarily excited about this acquisition as it is transformational
--->for the Company. With the acquisition of one of only three licensed and permitted uranium mills in the United States,
---> we have significantly accelerated our timeline with regard to becoming a uranium producer. The mill is currently in g
--->ood condition as it has been on continuous care and maintenance since it ceased operations. Finally, with the recent
--->positive news with regard to Japan's steps towards restarting two of its nuclear reactors, we are confident that urani
--->um will continue to play a significant role in the energy sector both today and into the future."
The Shootaring Canyon mill, located approximately 48 miles (77 kilometers) south of Hanksville, Utah, is a conventiona
--->l acid-leach facility that is permitted to process up to 750 tonnes of ore per day, with a capacity to process up to 1
--->,000 tonnes per day. The mill was built in 1980 and during its period of operation it produced and sold 27,825 pounds
---> of U3O8. The mill ceased operations in 1982 due to the depressed price of uranium, and has since been kept on care
--->and maintenance. The surface stockpiles at the facility include a historical estimate of 250,000 pounds of U3O8 at an
---> average grade of 0.13% U308.
The portfolio of conventional uranium assets encompasses approximately 48,000 acres (~19,425 hectares) and consists of
--->: 1) 12 patented mining claims; 2) 1,748 unpatented mining claims in Utah and Arizona; and 3) 17 State mining leases i
--->n Utah, Arizona and South Dakota. The portfolio also includes a historical estimate of measured and indicated mineral
---> resource of 6.8 million pounds of U3O8 grading approximately 0.19% U3O8. Finally, surface stockpiles contain uranium
---> ore with a historical mineral resource estimate of approximately 165,000 pounds of U3O8 grading 0.09% U3O8.
The most advanced asset in this portfolio is the Velvet-Wood deposit. Between 1979 and 1984 approximately 400,000 ton
--->s of ore were mined from the Velvet deposit at grades of 0.46% U3O8 and 0.64% V2O5 (recovering approximately 4 million
---> pounds of U3O8 and 5 million pounds of V2O5) . Some underground infrastructure is already in place at the Velvet mine
---> including a 3,500 ft long, 12' x 9' decline to the ore body. The remaining historical mineral resources of the combi
--->ned Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8 at a grade of 0.285% U3O8 (measur
--->ed and indicated resource) and 638,500 pounds of U3O8 at a grade of 0.173% U3O8 (inferred resource).
Other acquired uranium assets include the Frank M deposit, located approximately 12 km north of the mill, with a histo
--->rical mineral resource estimate of 2.2 million pounds of U3O8 at a grade of 0.101% U3O8. Also included are the Wate
--->and Findlay Tank Breccia Pipes in northern Arizona. Approximately 1.4 million pounds of the historical resource estim
--->ates are attributable to Uranium One's interest in these two breccia pipes (see Table 1). Importantly, the grade of m
--->ineralization at these breccia pipe deposits is typically higher than other U. S. deposits (in this case 0.76% U3O8 an
--->d 0.23% U3O8 respectively).
All historical resources referenced in this report are from technical reports prepared by well-known mineral explorati
--->on and mining consulting firms using current CIM standards and terminology (see Table 2). The Company intends to work
---> with the same groups to complete the reports such that they comply with all requirements of NI 43-101.
The table below summarizes the historical estimate of U3O8 resources present at these properties:
Table 1
Measured
Indicated
Inferred
Total Measured + Indicated
Deposit
Tons
Grade (% U3O8)
Lbs U3O8
Tons
Grade (% U3O8)
Lbs U3O8
Tons
Grade (% U3O8)
Lbs U3O8
Tons
Grade (% U3O8)
Lbs U3O8
Velvet
363,000
0.271
1,966,0001
71,000
0.384
548,0002
174,000
0.174
604,0001
434,000
0.290
2,514,0001
Wood
377,000
0.280
2,113,0001
11,000
0.157
34,5001
377,000
0.280
2,113,0001
Frank M
1,095,000
0.101
2,210,0001
42,000
0.09
75,0001
1,095,000
0.101
2,210,0001
Findlay Tank
211,000
0.226
954,0001
50% of Wate Breccia Pipe
29,000
0.760
443,0004
Total
363,000
0.271
1,966,000
1,543,000
4,871,000
467,000
2,110,500
1,906,000
6,837,000
Table 2
Date
Title
Author
12/10/2008
Velvet Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report
BRS, Inc
12/10/2008
Wood Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report
BRS, Inc
6/10/2008
Frank M Uranium Project, 43-101 Mineral Resource Report, Garfield County, Utah USA
BRS, Inc
10/2/2008
Findlay Tank SE Breccia Pipe Uranium Project, Mohave County, Arizona USA 43-101 Mineral Resource Report
BRS, Inc
8/18/2010
Updated NI 43-101 Technical Report on Resources Wate Uranium Breccia Pipe Northern Arizona, USA
SKR Consulting
The Company executed definitive agreements with Uranium One to acquire the assets upon the following terms: 1) Anfield
---> will issue to Uranium One the equivalent of US$1,000,000 in Anfield Shares upon Closing; and 2) Anfield will make cas
--->h payments to Uranium One of US$4,000,000, with US$2,000,000 to be paid upon the earlier of July 1, 2017 or the restar
--->t of Commercial Production at the mill (defined as the Shootaring mill operating for 60 consecutive days at 60% of cap
--->acity, or 450tpd), and US$2,000,000 to be paid upon the earlier of July 1, 2019 or twenty four months following the re
--->start of Commercial Production at the mill.
The Company also agrees to make cash deposits to replace the long-term government reclamation bonds that are currently
---> in place over the mill as a surety. A US$5,000,000 deposit will be made to the current bond-providing institution at
---> Closing, and within twenty four months following Closing the Company will make an additional deposit to cover the rem
--->aining amount of the reclamation bonds.
Contemporaneous with this agreement, Anfield, Uranium One and U.S. Energy have entered into an Amended Assignment and
--->Assumption Agreement whereby Anfield will assume the obligations of Uranium One relative to Uranium One's agreements w
--->ith U.S. Energy under revised terms negotiated between Anfield and US Energy. These terms state that: 1) Anfield will,
---> upon Closing, issue US$2.5 million in Anfield shares to US Energy, to be held in escrow and released over a period of
---> 36 months from Closing; 2) Anfield will make cash payments of US$5 million in two tranches of US$2.5 million, with th
--->e first following 18 months of Commercial Production and the second following 36 months of Commercial Production.
The acquisition is subject to regulatory approval.
Disclaimer: Anfield is not treating the historical estimate as current mineral resources or mineral reserves. A qual
--->ified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral
--->reserves.
About Anfield Resources Inc.
Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (ARY-V) and is engaged in mineral explorat
--->ion, development and production in the United States and Chile. Its focus is on acquiring and developing an array of s
--->trategic mineral projects that are summarized below:
Anfield's uranium assets include mining claims and state leases in southeastern Utah, Colorado and Arizona totalling o
--->ver 17,500 acres (7,082 hectares), targeting areas where past uranium mining or prospecting occurred within a potentia
--->l shipping radius to the White Mesa Mill, the only operating conventional uranium mill in the US.
The Binghampton Copper Queen (BCQ) project, located 17 miles (27 km) southeast of Prescott, Arizona, and within the Ar
--->izona VMS Belt, consists of 5,021 acres (2,032 hectares) of both patented and State land, with two past-producing mine
--->s on the property.
The North Star Copper Project, located less than 50 miles (80 km) northwest of Tucson, consisting of 200 mining claims
---> covering approximately 4,000 acres (1,619 hectares), targets relatively shallow oxide copper at the historic North St
--->ar site in the heart of copper country in southern Arizona.
The Aura Project, a nascent copper operation in Atacama, Chile, is located 20 miles (32 km) east of Copiapo and consis
--->ts of eight mining concessions totalling over 2,800 acres (1,133 hectares) in one of the foremost copper producing reg
--->ions in the world.
R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument 43-101, who ha
--->s reviewed and approved the technical content of this news release.
On behalf of the Board of Directors ANFIELD RESOURCES INC. Corey Dias, Chief Executive Officer Neither TSX Venture
--->Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) ac
--->cepts responsibility for the adequacy or accuracy of this release. Contact: Anfield Resources Inc. Clive Mostert Corp
--->orate Communications 780-920-5044 cmostert@telus.net
www.anfieldresources.com
Safe Harbor Statement THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS RELEASE THAT
--->ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTAT
--->IONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN
---> THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD C
--->AUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY
--->SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR
--->THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-L
--->OOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
--->MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS A
--->ND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIAT
--->ED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY
--->AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPL
--->ORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEME
--->NTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
--->STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATE
--->MENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEA
--->SE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURAT
--->E. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOS
--->ED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF TH
--->E COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR T
--->HE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH O
--->FFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY S
--->UCH JURISDICTION.
File: 8-15-14 ARY NR -Shootaring Mill Acquisition.pdf
608, 1199 West Pender Street
Vancouver, BC V6E 2R1
Tel: (604) 687-0300
Fax: (604) 687-0151
www.anfieldresources.com
TSX.V: ARY
OTCQB: ANLDF
ANFIELD RESOURCES INC. INKS DEAL TO ACQUIRE SHOOTARING CANYON
URANIUM MILL AND CONVENTIONAL URANIUM ASSETS
VANCOUVER, BRITISH COLUMBIA--TNW-ACCESSWIRE--August 15, 2014--Anfield Resources Inc.
(TSX.V: ARY)(OTCQB: ANLDF) ("Anfield" or "the Company") is thrilled to announce that it has entered
into definitive agreements with Uranium One to acquire the Shootaring Canyon uranium mill (the
"Shootaring Mill") located in Garfield County, Utah, and a portfolio of conventional uranium assets
containing a historical estimate of U3O8 resource of 6.8 million poundsi (see Table 1 below). The
properties, located in Utah, Arizona and South Dakota increase Anfield's uranium asset acreage by more
than 250%. The deal, which is valued at five million US dollars, will be settled over a period of up to four
years with a combination of cash and shares.
This transaction provides a number of strategic advantages to Anfield, including:
Potential creation of one of the very few uranium producers in the U. S.
o Shootaring Canyon Mill is one of only three licensed uranium mills in the United States,
reflecting its scarcity value.
The establishment of Anfield as one of the largest owners of uranium properties in the U.S.
o Increases Anfield's uranium asset acreage by more than 250% to reach approximately
65,500 acres (~26,507 hectares).
o Adds a historical estimate of U3O8 resource of 6.8 million pounds.
o The flagship resource, the Velvet-Wood Deposit, contains a historical resource estimate of
4.63 million pounds of measured and indicated U3O8 at an average grade of 0.285%.ii
o Past production at Velvet-Wood recovered 4 million pounds at an average grade of 0.46%
U3O8.iii
The location of the acquired assets is positive from a production perspective
o The geographical position of both the Shootaring Mill and the acquired uranium properties
are within one of the historically most prolific uranium production areas in the U. S.
o Anfield's uranium holdings, which include past producing mines, lie within a 125-mile radius
of the Shootaring Mill.
The control over the production process from mining to production of yellowcake offers both
operational synergies and capital efficiencies.
The ability to address the U.S. uranium deficit;
o Domestic consumption of 57 million pounds of U3O8 per yeariv versus domestic production
of only 4.6 million pounds of U3O8 per year.v
Anfield's CEO Corey Dias commented: "We are extraordinarily excited about this acquisition as it is
transformational for the Company. With the acquisition of one of only three licensed and permitted
uranium mills in the United States, we have significantly accelerated our timeline with regard to
becoming a uranium producer. The mill is currently in good condition as it has been on continuous care
and maintenance since it ceased operations. Finally, with the recent positive news with regard to
Japan's steps towards restarting two of its nuclear reactors, we are confident that uranium will continue
to play a significant role in the energy sector both today and into the future."
The Shootaring Canyon mill, located approximately 48 miles (77 kilometers) south of Hanksville, Utah, is
a conventional acid-leach facility that is permitted to process up to 750 tonnes of ore per day, with a
capacity to process up to 1,000 tonnes per day. The mill was built in 1980 and during its period of
operation it produced and sold 27,825 pounds of U3O8.vi The mill ceased operations in 1982 due to the
depressed price of uranium, and has since been kept on care and maintenance. The surface stockpiles
at the facility include a historical estimate of 250,000 pounds of U3O8 at an average grade of 0.13%
U308.vii
The portfolio of conventional uranium assets encompasses approximately 48,000 acres (~19,425
hectares) and consists of: 1) 12 patented mining claims; 2) 1,748 unpatented mining claims in Utah and
Arizona; and 3) 17 State mining leases in Utah, Arizona and South Dakota. The portfolio also includes a
historical estimate of measured and indicated mineral resource of 6.8 million pounds of U3O8 grading
approximately 0.19% U3O8. Finally, surface stockpiles contain uranium ore with a historical mineral
resource estimate of approximately 165,000 pounds of U3O8 grading 0.09% U3O8.viii
The most advanced asset in this portfolio is the Velvet-Wood deposit. Between 1979 and 1984
approximately 400,000 tons of ore were mined from the Velvet deposit at grades of 0.46% U3O8 and
0.64% V2O5 (recovering approximately 4 million pounds of U3O8 and 5 million pounds of V2O5)ix. Some
underground infrastructure is already in place at the Velvet mine including a 3,500 ft long, 12' x 9'
decline to the ore body. The remaining historical mineral resources of the combined Velvet and Wood
mines have been estimated to comprise 4.6 million pounds of U3O8 at a grade of 0.285% U3O8 (measured
and indicated resource) and 638,500 pounds of U3O8 at a grade of 0.173% U3O8 (inferred resource).x
Other acquired uranium assets include the Frank M deposit, located approximately 12 km north of the
mill, with a historical mineral resource estimate of 2.2 million pounds of U3O8 at a grade of 0.101%
U3O8.xi Also included are the Wate and Findlay Tank Breccia Pipes in northern Arizona. Approximately
1.4 million pounds of the historical resource estimates are attributable to Uranium One's interest in
these two breccia pipes (see Table 1). Importantly, the grade of mineralization at these breccia pipe
deposits is typically higher than other U. S. deposits (in this case 0.76% U3O8 and 0.23% U3O8
respectively).xii
All historical resources referenced in this report are from technical reports prepared by well-known
mineral exploration and mining consulting firms using current CIM standards and terminology (see Table
2). The Company intends to work with the same groups to complete the reports such that they comply
with all requirements of NI 43-101.
The table below summarizes the historical estimate of U3O8 resources present at these properties:
Table 1
Measured Indicated Inferred
---> Total Measured + Indicated
Deposit Tons Grade (% Lbs U3O8 Tons Grade (% Lbs U3O8 Tons Grade
--->(% Lbs U3O8 Tons Grade (% Lbs U3O8
U3O8) U3O8) U3O8)
---> U3O8)
1 2
---> 1
Velvet 363,000 0.271 1,966,000 71,000 0.384 548,000 174,000 0.174
---> 604,000 434,000 0.290 2,514,0001
Wood 377,000 0.280 2,113,0001 11,000 0.157
---> 34,5001 377,000 0.280 2,113,0001
Frank M 1,095,000 0.101 2,210,0001 42,000 0.09
---> 75,0001 1,095,000 0.101 2,210,0001
Findlay 211,000 0.226
---> 954,0001
Tank
50% of 29,000 0.760
---> 443,0004
Wate
Breccia
Pipe
Total 363,000 0.271 1,966,000 1,543,000 4,871,000 467,000
---> 2,110,500 1,906,000 6,837,000
Table 2
Date Title
---> Author
12/10/2008 Velvet Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report
---> BRS, Inc
12/10/2008 Wood Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report
---> BRS, Inc
6/10/2008 Frank M Uranium Project, 43-101 Mineral Resource Report, Garfield County, Utah USA
---> BRS, Inc
10/2/2008 Findlay Tank SE Breccia Pipe Uranium Project, Mohave County, Arizona USA 43-101 Mineral Resource Repo
--->rt BRS, Inc
8/18/2010 Updated NI 43-101 Technical Report on Resources Wate Uranium Breccia Pipe Northern Arizona, USA
---> SKR Consulting
The Company executed definitive agreements with Uranium One to acquire the assets upon the
following terms: 1) Anfield will issue to Uranium One the equivalent of US$1,000,000 in Anfield Shares
upon Closing; and 2) Anfield will make cash payments to Uranium One of US$4,000,000, with
US$2,000,000 to be paid upon the earlier of July 1, 2017 or the restart of Commercial Production at the
mill (defined as the Shootaring mill operating for 60 consecutive days at 60% of capacity, or 450tpd), and
US$2,000,000 to be paid upon the earlier of July 1, 2019 or twenty four months following the restart of
Commercial Production at the mill.
The Company also agrees to make cash deposits to replace the long-term government reclamation
bonds that are currently in place over the mill as a surety. A US$5,000,000 deposit will be made to the
current bond-providing institution at Closing, and within twenty four months following Closing the
Company will make an additional deposit to cover the remaining amount of the reclamation bonds.
Contemporaneous with this agreement, Anfield, Uranium One and U.S. Energy have entered into an
Amended Assignment and Assumption Agreement whereby Anfield will assume the obligations of
Uranium One relative to Uranium One's agreements with U.S. Energy under revised terms negotiated
between Anfield and US Energy. These terms state that: 1) Anfield will, upon Closing, issue US$2.5
million in Anfield shares to US Energy, to be held in escrow and released over a period of 36 months
from Closing; 2) Anfield will make cash payments of US$5 million in two tranches of US$2.5 million, with
the first following 18 months of Commercial Production and the second following 36 months of
Commercial Production.
The acquisition is subject to regulatory approval.
Disclaimer: Anfield is not treating the historical estimate as current mineral resources or mineral
reserves. A qualified person has not done sufficient work to classify the historical estimate as current
mineral resources or mineral reserves.
About Anfield Resources Inc.
Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (ARY-V) and is engaged in
mineral exploration, development and production in the United States and Chile. Its focus is on
acquiring and developing an array of strategic mineral projects that are summarized below:
Anfield's uranium assets include mining claims and state leases in southeastern Utah, Colorado and
Arizona totalling over 17,500 acres (7,082 hectares), targeting areas where past uranium mining or
prospecting occurred within a potential shipping radius to the White Mesa Mill, the only operating
conventional uranium mill in the US.
The Binghampton Copper Queen (BCQ) project, located 17 miles (27 km) southeast of Prescott, Arizona,
and within the Arizona VMS Belt, consists of 5,021 acres (2,032 hectares) of both patented and State
land, with two past-producing mines on the property.
The North Star Copper Project, located less than 50 miles (80 km) northwest of Tucson, consisting of 200
mining claims covering approximately 4,000 acres (1,619 hectares), targets relatively shallow oxide
copper at the historic North Star site in the heart of copper country in southern Arizona.
The Aura Project, a nascent copper operation in Atacama, Chile, is located 20 miles (32 km) east of
Copiapo and consists of eight mining concessions totalling over 2,800 acres (1,133 hectares) in one of
the foremost copper producing regions in the world.
R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument
43-101, who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
cmostert@telus.net
www.anfieldresources.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS
RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY
STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS
RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE
RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS.
STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY,
FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR
"EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL
EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT
ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE
INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE
REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND
THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL
SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-
LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY
ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE
REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING
STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND
INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE
THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS
SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR
THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO
REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
i
source - Table 1 contains a list of historical resource estimates of key properties in the acquisition. Historical re
--->source
estimates are categorized as measured, indicated, and inferred.
ii
source - Velvet Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, BRS, Inc
--->.,
December 10, 2008; Wood Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, BRS,
Inc., December 10, 2008.
iii
source - Utah Geological & Mineral Survey, OFR 188, July 1990, p.38, 62
iv
source - http://www.eia.gov/uranium/marketing/?src=nuclearcapital-f2
v
source - http://www.eia.gov/uranium/production/annual
vi
source � Environmental Report for Shootaring Canyon Uranium Processing Facility, Revision 1, Environmental Restorati
--->on
Group, Inc., December 2006.
vii
source - Definitive Cost Estimate for the Restart of Shootaring Canyon Mill, Ticaboo, Utah, Lyntek Incorporated
--->, July 28, 2008.
viii
source - Technical Report on the Lisbon Valley Uranium Properties Utah, Roscoe Postle Associates Inc., Septembe
--->r 12, 2005.s
ix
source - Utah Geological & Mineral Survey, OFR 188, July 1990, p.38, 62
x
source - Velvet Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, BRS, Inc
--->.,
December 10, 2008; Wood Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, BRS,
Inc., December 10, 2008.
xi
source - Frank M Uranium Project, 43-101 Mineral Resource Report, Garfield County, Utah USA, BRS Inc., June 10,
--->2008.
xii
source - Updated NI 43-101 Technical Report on Resources Wate Uranium Breccia Pipe Northern Arizona, USA; SRK
Consulting, Augusta 18, 2010; Findlay Tank SE Breccia Pipe Uranium Project, Mohave County, Arizona USA 43-101 Mineral
Resource Report, BRS, Inc., October 2, 2008.
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