Anfield Energy improves its private placement
VANCOUVER, British Columbia, May 5, 2021 (GLOBE NEWSWIRE) – Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has increased the size of its broker-less private placement to 50,000,000 units at a price of $ 0.085 per unit, for a total capital increase of up to $ 4,250,000 (“the Placement”) . Each unit consists of one common share and one warrant, each warrant entitling the holder to purchase one additional common share at a price of $ 0.13 for a period of twenty-four (24) months. Red Cloud Securities, Inc. is acting as Finder with respect to the Offer.
The private placement can be closed in installments. Finder’s fees may be paid in certain circumstances. The above is subject to regulatory approval. All securities to be issued under the private placement will be subject to a statutory holding period of four months and one day in accordance with applicable securities laws.
The proceeds of the private placement will be used for the development of the West Slope vanadium / uranium properties, the Charlie project and other Wyoming SRI projects, the Newsboy gold project, ownership costs and general working capital.
Anfield is a short-term uranium and vanadium development and production company committed to becoming a leading supplier of energy-related fuels by creating value through sustainable and efficient growth of its assets. Anfield is also a precious metals development company. Anfield is a public company listed on the TSX Venture Exchange (AEC-V), OTCQB Market (ANLDF) and Frankfurt Stock Exchange (0AD). Anfield focuses on three asset centers, as summarized below:
The Newsboy Gold Project
The Newsboy Gold Project, located 45 miles northwest of Phoenix, Arizona and 10 miles southeast of Wickenberg in Maricopa County, consists of 2,243 acres of land that includes 35 federal claims and 4 leases. of state.
Between 1987 and 1989, the Westmont Mining Company completed reconnaissance geological mapping, rock chip geochemistry and 102 holes (totaling 7,184 meters) of reverse core drilling at Newsboy. In 1990, Pima Mining NL drilled 12 diamond core holes (512 meters), 40 reverse core holes (2000 meters) and completed metallurgical testing, resource and reserve estimates, and mine planning studies.
In 2009, Aurum National Holdings, Ltd. commissioned the North American Environmental Group (NAEG) to produce a report on the Newsboy property, entitled “Technical Report of the Newsboy Gold Property, Maricopa County, Arizona, United States, by Clive RG Bailey, dated September 1, 2009.” Anfield considers this to be a historical report and does not guarantee that it meets current NI 43-101 guidelines.
Using the available data and a cut-off grade of 0.02opt Au, NAEG estimated a total in situ resource of 5.3 Mt in the following categories:
- A measured resource of 2.533 Mt at 0.05opt Au and 0.87opt Ag for a total of 127,000 oz Au and 2,196,000 oz Ag;
- An indicated resource of 1.076 Mt at 0.04opt Au and 0.44opt Ag for a total of 43,000 oz Au and 471,000 oz Ag; and
- An inferred resource of 1.719 Mt at 0.038opt and 0.45opt Ag for a total of 65,000 oz Au and 765,000 oz Ag
The NAEG report also identified areas where the author, based on the geological interpretation, believed that the resource could be expanded. The NAEG report also recommended an exploration program for this area. To Anfield’s knowledge, these recommendations have not yet been implemented.
Anfield considers these estimates to be historical in nature and cautions that a Qualified Person has not done sufficient work to classify the historical estimate as a Mineral Resource or Current Mineral Reserve and Anfield does not treat the historical estimate as existing mineral resources or mineral reserves.
Douglas L. Beahm, PE, PG approved the Newsboy Gold Project scientific and technical disclosure in the press release. He is a qualified person within the meaning of NI 43-101.
Wyoming Resin Capture and Processing Agreement
Anfield signed a resin capture and processing agreement with Uranium One under which Anfield would process up to 500,000 pounds per year of its material mined at the Uranium One processing plant in Irigaray, Wyoming.
Project Charlie, Anfield’s flagship uranium project, is located in the Pumpkin Buttes uranium district in Johnson County, Wyoming. Project Charlie consists of a 720 acre Wyoming State uranium lease that has been in development since 1969. A preliminary economic assessment has been completed for Project Charlie.
Anfield’s remaining 24 SRI mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin regions of Wyoming. The three projects in Anfield, Wyoming for which NI 43-101 resource reports have been completed are Red Rim, Nine Mile Lake and Clarkson Hill.
Arizona / Utah / Colorado – Shootaring Canyon Windmill
A key asset in the Anfield portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon plant is strategically located in one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium plants in the United States.
Anfield’s conventional uranium assets consist of mining concessions and state leases in southeastern Utah, Colorado and Arizona, targeting areas where mining or prospecting for uranium has taken place. Anfield’s conventional uranium assets include the Velvet-Wood project, the Uranium Frank M project, the West Slope project as well as the Findlay Tank breach pipeline. A preliminary NI 43-101 economic assessment has been completed for the Velvet-Wood project. The PEA is preliminary in nature and includes inferred mineral resources that are considered too geologically speculative to have economic considerations that would allow them to be classified as mineral reserves, and there is no certainty that the preliminary economic assessment would be carried out. All conventional uranium assets are located within a 200 mile radius of the Shootaring plant.
On behalf of the board of directors
ANFIELD ENERGY INC.
Corey Dias, Managing Director
Neither the 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.
Anfield Energy, Inc.
Safe Harbor Declaration
THIS PRESS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS PRESS RELEASE THAT ARE NOT REALLY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ALL STATEMENTS CONCERNING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS FOR THE FUTURE.
EXCEPT FOR HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS DISCUSSED IN THIS PRESS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS WHICH ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS THAT DIFFERENTLY DIFFERENT PERFORMANCE, OR PERFORMANCE. COME. STATEMENTS WHICH ARE NOT HISTORICAL FACT, INCLUDING STATEMENTS PRECEDED, FOLLOWED BY, OR WHICH INCLUDE WORDS SUCH AS “ESTIMATE”, “ANTICIPATE”, “BELIEVE”, “PLAN” OR “WAIT” OR SIMILAR STATEMENTS FORWARD-LOOKING STATEMENTS. THE RISKS AND UNCERTAINTIES TO THE COMPANY INCLUDE, BUT NOT LIMITED TO, THE RISKS ASSOCIATED WITH THE EXPLORATION AND FINANCING OF MINERALS, AS WELL AS THE RISKS INDICATED IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME TO TIME. TIME IN OTHER PUBLICLY AVAILABLE INFORMATION CONCERNING THE COMPANY. OTHER RISKS INCLUDE RISKS RELATED TO SEARCHING FOR THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE CAPACITY AND LEVEL OF SUPPORT FOR THE COMPANY OF EXPLORATION AND DEVELOPMENT. THERE IS NO GUARANTEE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL BE SUCCESSFUL, OR THAT THE COMPANY WILL ACHIEVE BUSINESS SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS PRESS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS OR TO UPDATE THE REASONS WHY THE ACTUAL RESULTS MAY DIFFER FROM THESE PROSPECTIVE STATEMENTS IN THE FORWARD-LOOKING STATEMENTS. . ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS PRESS RELEASE ARE REASONABLE, THERE IS NO ASSURANCE THAT SUCH BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS PROVE TO BE ACCURATE. INVESTORS MUST CONSIDER ALL INFORMATION PROVIDED HEREIN AND MUST ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE PERIODIC REPORTS OF THE COMPANY FILED FROM TIME TO TIME.
THIS PRESS RELEASE HAS BEEN PREPARED BY THE MANAGEMENT OF THE COMPANY WHICH TAKES FULL RESPONSIBILITY FOR ITS CONTENT.