April 25, 2018 - 7:00 AM EDT
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Anfield Energy Identifies Vanadium Potential in Acquired Database

VANCOUVER, British Columbia, April 25, 2018 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V:AEC) (OTCQB:ANLDF) (FRANKFURT:0AD) (“Anfield” or “the Company”) is pleased to announce that it has identified vanadium exploration targets in its recently-acquired exploration database of mining projects in the Western United States. These targets, found in both Colorado and Utah, are considered complementary to Anfield’s Utah-based Shootaring Canyon mill as Anfield could include a vanadium processing circuit on this asset. Moreover, these vanadium projects could serve as a potential extended vanadium project pipeline beyond the Velvet-Wood uranium/vanadium project on which Anfield has previously announced a vanadium exploration target. Finally, Anfield’s prospective energy partners have shown an increasing interest in the Company’s vanadium assets due to the recent upturn in the vanadium price – from US$4.00 to US$15.00 per pound.

Corey Dias, Anfield CEO, states, “The identification of potential vanadium targets in in our recently-acquired database offers a distinct advantage to the Company. Further to our news release on December 13, 2017, Anfield has already identified a vanadium exploration target of between 6.3 million pounds and 9.7 million pounds at its past-producing Velvet-Wood uranium mine – at which vanadium was previously produced as a byproduct – and the potential to create a significant pipeline of vanadium projects is compelling.  This is even more attractive to Anfield as it holds one of only three licensed, permitted and constructed uranium mills in the U. S., and the ability to add a vanadium processing circuit to the Shootaring Canyon mill provides a strategic advantage to the Company in relation to its peers as Anfield could accelerate the vanadium production process.

"Vanadium is increasingly being embraced by battery manufacturers as a core material in the production of batteries to be used in both small-scale and large-scale applications; in fact, vanadium redox-flow batteries (VFBs) have started to grow in influence as energy companies look to improve energy storage.  This ranges from grid-scale uses, such as Prudent Technology’s use of a VFB for its solar installation in Italy, to smaller-scale uses such as Warren Buffett’s BYD company using vanadium batteries for its electric vehicles and Subaru using a VFB to power its Subaru G4e vehicle. Vanadium is clearly viewed as an attractive alternative to other battery technology sources.  Anfield is fortunate in having the ability to exploit two energy metal resources together, both with highly positive demand projections: uranium and vanadium”.

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 two production centres, as summarized below:

Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)

Anfield has signed a Resin Processing Agreement with Uranium One whereby Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.

Anfield’s 24 ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming. Anfield’s three projects in Wyoming for which NI 43-101 resource reports have been completed are Red Rim, Nine Mile Lake and Clarkson Hill.

The Charlie Project, acquired from Cotter Corporation is located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. The Charlie Project consists of a 720-acre Wyoming State uranium lease which has been in development since 1969.

Arizona/Utah – 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 and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project.  All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.

On behalf of the Board of Directors
ANFIELD ENERGY 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 Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
[email protected]
www.anfieldenergy.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 SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, 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 WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR 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.

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Source: GlobeNewswire (April 25, 2018 - 7:00 AM EDT)

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