Announcement • Jun 18
Anfield Energy Files Updated Preliminary Economic Assessment for Shootaring Canyon Mill and Tributary Mines Anfield Energy Inc. has filed its combined preliminary economic assessment titled, “The Shootaring Canyon Mill and Tributary Mines, Utah and Colorado, USA, Preliminary Economic Assessment” on SEDAR+. The PEA incorporates its Utah-based Velvet-Wood uranium and vanadium project, its Colorado-based Slick Rock uranium and vanadium project and six of the nine mines which comprise the West Slope complex. These eight projects, being Velvet-Wood, Slick Rock and the West Slope Mines, are located proximal to one another within the prolific Uravan Mineral Belt, and within close distance of the Company’s Shootaring Canyon Mill which will act as a centralized mineral processing facility in the PEA. The PEA was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The updated PEA indicates a pre-tax project internal rate of return of 106% and a net present value of USD 606 million (with a post-tax IRR of 97% and NPV of USD 533 million), based on a discount rate of 8% and a uranium price of USD 100 per pound, along with a vanadium price of USD 9 per pound, with an expected mine and mill capex payback period of 1.3 years. Average annual production of approximately 1.3 million pounds of uranium (U3O8) and 6.4 million pounds of vanadium (V2O5) per year is estimated over the 15-year mine life, including a peak production year of 1.9 million pounds of uranium and 7.8 million pounds of vanadium. The combined feed of the Velvet-Wood, Slick Rock and the West Slope Mines is designed to meet the increased tonnage capacity at Shootaring of 1,000 tons per day. Estimated mill-related capital expenditures at Shootaring, including 20% contingency amount for each item, of: (1) USD 31.1 million for general upgrades; (2) USD 34.6 million to install a modern vanadium circuit; and (3) USD 14.4 million to update the tailings management facility, for a total of USD 80.1 million. Estimated mine-related capital expenditures, including: (1) engineering and design; (2) mine facilities; (3) mine equipment; (4) the reopening of the decline at Velvet and the sinking of a production shaft at Wood; and (5) the sinking of two production shafts at Slick Rock, with a 10% contingency, of a combined total of USD 37.5 million, partially offset by expected cash flow of approximately USD 23.2 million related to initial uranium production from Anfield’s stockpiled material. The future potential addition of the Company’s thirteen remaining U.S. Department of Energy leases to Anfield’s production model pipeline - which will require little incremental capital expenditure - provides significant valuation upside, especially given that Shootaring’s restart costs will have already been borne by initial production from the Velvet-Wood, Slick Rock and West Slope mines. The prospect of the largest single uranium mine – Marquez-Juan Tafoya – as an additional source of uranium could further extend the production timeline or provide an incentive to once again expand throughput capacity at Shootaring. The prospect of Shootaring becoming the second of only two operational conventional uranium and vanadium mills in the United States is significant both economically as well as with respect to security of supply for utilities. The PEA not only represents a significant milestone for Anfield but also outlines a technical and economic path towards commercial development of its core uranium and vanadium assets. The Company is currently reviewing a number of other value-added techniques and technologies to facilitate the reduction of waste in order to improve uranium and vanadium grades which can provide the Company with an opportunity to further improve annual production output. The PEA provides for a 12-month pre-production period. This includes the following capital expenditures, forecasted at approximately USD 97 million (including a 20% contingency): (1) initial mill and mine permitting and licensing; (2) an updated mining and reclamation plan; (3) initiation of mine development; (4) completion of the construction of mine facilities and purchasing of equipment; (5) refurbishment of the Shootaring uranium circuit and the construction of a vanadium circuit; and (6) the updating of the tailings waste management facility. An additional USD 20 million of mine-related expenditures will occur during the initial production year. The total costs for “Life of Mine” is estimated at USD 173 million, including sustaining capital. The PEA indicates a pre-tax IRR of 106% at a uranium price of USD 100 per pound and USD 9 per pound of vanadium. The pre-tax NPV of the project at an 8% discount rate at the aforementioned prices is USD 606 million. The PEA also indicates a post-tax IRR of 97% and a pre-tax NPV of USD 533 million. Changing the commodity price for uranium and vanadium equally by 10% varies the NPV@8% approximately +/- USD 136 million pre-tax, and +/- USD 117 million post-tax. In both pre-tax and post-tax scenarios the IRR varies by approximately 20% with a 10% variation in price. Shootaring area covers approximately 265 acres of surface ownership and approximately 905 acres of mineral leases. Shootaring was licensed and constructed by Plateau Resources Limited and operated in 1982. U.S. Energy Corp. and Uranium One Inc. were also previous owners of Shootaring. Shootaring has not been decommissioned and has been under care and maintenance since cessation of operations. The mill license has been maintained and Anfield is currently conducting engineering and design studies for both the refurbishment of Shootaring and tailings facility in support of converting the license from its status of care and maintenance to operations. Velvet-Wood covers approximately 2,140 acres, including unpatented mining claims and a State of Utah mineral lease related to the Velvet-Wood mine areas comprising Velvet-Wood. Announcement • Jun 09
Anfield Energy Provides Operational Update on Shootaring Canyon Uranium Mill License Renewal and Refurbishment Anfield Energy Inc. provided a current update on the renewal and reactivation of its radioactive materials license for the Shootaring Canyon Uranium Mill in Utah. During the first months of 2026, the Company worked closely with the Utah Department of Environmental Quality to address all requests for additional information related to the License renewal application. As part of these efforts, Anfield successfully completed the drilling of 8 additional monitoring wells, a key requirement prior to resuming full operations at Shootaring. Anfield has initiated preparatory refurbishment work at the Shootaring. The Company has begun the removal of existing leach tanks in the leach building to prepare the facility for comprehensive refurbishment and future operational upgrades. All current site activities are being conducted under the Company’s existing License and in full regulatory compliance. This effort has the dual purpose of reducing Anfield’s reclamation obligations and preparing Shootaring for refurbishment. The Company continues to work with PSE Engineering to prepare the final detailed engineering designs. This work is intended to enable Anfield to move quickly and efficiently through the necessary refurbishment steps toward resuming production in 2027. The Company expects to complete the License renewal by the end of the year and plans to be fully prepared to quickly move forward with the refurbishment upon approval. Anfield has begun the buildout of a new temporary man camp to support upcoming construction and operational activities. The man camp is being constructed just outside of the mill boundaries on private land owned by the Company. The facility is expected to be completed by the end of the year to coincide with the anticipated start of major refurbishment construction. It will accommodate up to 40 workers and will also serve to house personnel during the transition from refurbishment to initial production. These early refurbishment activities, detailed engineering progress, and supporting infrastructure development represent an important step forward in the Shootaring reactivation process. Shootaring remains one of only three licensed and permitted conventional uranium mills in the United States and is central to Anfield’s hub-and-spoke strategy for near-term uranium and vanadium production in the U.S. The Company continues to advance the overall License renewal while simultaneously progressing Shootaring refurbishment plans, including upgrades targeting 1,000 tons per day throughput capacity. These efforts are aligned with Anfield’s objective of recommencing mineral resource processing from its nearby uranium-vanadium projects. Anfield will continue to provide updates on the License renewal process, ongoing site work, detailed engineering progress, and integration with the Company’s mine development pipeline (including the Velvet-Wood project) as further milestones are achieved. Announcement • Jun 02
Anfield Energy Completes Phase One Surface Construction At Velvet-Wood Project Anfield Energy Inc. has completed phase one surface construction at its Velvet-Wood uranium and vanadium project in Utah. With Phase One now complete, the Company will shift focus to phase two of mine construction at Velvet-Wood. Phase Two will focus on the dewatering and rehabilitation of the existing underground workings, along with construction of the ore pad to allow for mining to begin upon completion of the dewatering. Phase Two is expected to last approximately 6 months. Initial underground development activities are expected to commence within the next 30 days at Velvet-Wood. Phase three of mine construction at Velvet-Wood will involve the buildout of permanent surface infrastructure, including the mine office, shop/warehouse, and permanent power. The Company intends to produce mined material concurrently with the completion of this final development phase. The completed Phase One work at Velvet-Wood included the following actions: Stripped the topsoil from the original mine area and stockpiled approximately 4,500 cubic yards of clean topsoil, set aside for future reclamation work; Completed a full site survey to orient the surface with the underground workings; Installed a temporary office and shop to support construction and site development; Built or improved nearly 3 miles of roads, including both county roads and site roads; Installed temporary power to the site; Uncovered the previous plugged/reclaimed decline shaft and constructed the new portal and gates; Installed ventilation for the underground; Rehabilitated nearly 1,500 feet of decline; Activated the mine ID with the U.S. Mine Safety and Health Administration, enabling the start of mining and mine construction; Built pads for the permanent facilities (mine office, shop/warehouse, and water treatment); and Restarted the Company’s Papoose limestone quarry, supplying all aggregate used on site for road and pad construction. This progress allows Anfield to remain on schedule to return the Velvet-Wood mine to production by the end of 2026. This milestone is made more significant by the fact that the mine last produced in 1984, while the remaining Lisbon Valley mines were ultimately shuttered by 1988. For more than 40 years this resource area has been waiting for the return of the U.S. uranium industry. This progress supports Anfield’s hub-and-spoke strategy, centered on the fully permitted Shootaring Canyon Mill in Utah and its portfolio of high-quality uranium-vanadium assets in Utah and Colorado. New Risk • May 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$18m free cash flow). Earnings have declined by 7.2% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (US$85.0m market cap). Announcement • May 05
Anfield Energy Inc. Demonstrates Economic Viability of Hub-And-Spoke Uranium and Vanadium Production Strategy Anfield Energy Inc. reported the results of a combined preliminary economic assessment for both its Utah-based Velvet-Wood uranium and vanadium project, its Colorado-based Slick Rock uranium and vanadium project and six of the nine mines which comprise the West Slope complex. These projects are located proximal to one another within the prolific Uravan Mineral Belt, and within close distance of the Company’s Shootaring Canyon Mill which will act as a centralized mineral processing facility in the PEA. The PEA was prepared in accordance with National Instrument 43-101. The updated PEA indicates a pre-tax internal rate of return of 106% and a net present value of USD 606 million, with a post-tax IRR of 97% and NPV of USD 533 million, based on a discount rate of 8% and a uranium price of USD 100 per pound, along with a vanadium price of USD 9 per pound, with an expected payback period of 1.3 years. Average annual production of approximately 1.3 million pounds of uranium and 6.4 million pounds of vanadium is estimated over the 15-year mine life, including a peak production year of 1.9 million pounds of uranium and 7.8 million pounds of vanadium. The combined feed is designed to meet the increased tonnage capacity at Shootaring of 1,000 tons per day. Estimated mill-related capital expenditures at Shootaring total USD 80.1 million. Estimated mine-related capital expenditures total USD 37.5 million, partially offset by expected cash flow of approximately USD 23.2 million related to initial uranium production. The PEA provides for a 12-month pre-production period, with capital expenditures of approximately USD 97 million. An additional USD 20 million of mine-related expenditures will occur during the initial production year. Total costs for Life of Mine are estimated at USD 173 million. Changing the commodity price by 10% varies the NPV approximately +/- USD 136 million pre-tax and +/- USD 117 million post-tax, with IRR varying by approximately 20%. The Shootaring area covers approximately 265 acres of surface ownership and approximately 905 acres of mineral leases and has been under care and maintenance since cessation of operations. Velvet-Wood covers approximately 2,140 acres. Between 1979 and 1984, Atlas Minerals mined approximately 400,000 tons of ore from the Velvet deposit, recovering approximately 4.0 million pounds of U3O8 and 5.0 million pounds of V2O5. The current mineral resources have been estimated to comprise measured, indicated and inferred mineral resources with a vanadium-to-uranium ratio of 1.4 to 1. Slick Rock Complex covers approximately 6,130 acres with indicated and inferred mineral resources with a vanadium-to-uranium ratio of 6 to 1. The JD Mines represent four of the nine West Slope mines with indicated mineral resources. The SR-11 and SM-18 mines represent two of the nine West Slope mines with inferred mineral resources. The mineral resource estimates were reviewed by qualified persons and deemed to remain valid and effective. The PEA is preliminary in nature such that it includes inferred mineral resources which are too speculative geologically to be categorized as mineral reserves, and there is no certainty that the outcomes estimated in the PEA will be realized. New Risk • Apr 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (US$94.7m market cap). Announcement • Apr 08
Anfield Energy Inc Submits Permit Amendment for JD-8 Mine Restart Anfield Energy Inc. announced that, following receipt of comments regarding the Company’s Plan of Operations submittal from the U.S. Department of Energy (DOE) and the Colorado Division of Reclamation, Mining and Safety (DRMS), the Company has thoroughly addressed all outstanding comments and has submitted a permit amendment for the restart of its past-producing JD-8 uranium and vanadium mine (the “JD-8 Mine”) in Montrose County, Colorado.Key HighlightsRegulatory Clearance: Anfield has addressed all outstanding technical, financial and environmental comments from the DOE and DRMS. Production Timeline:The JD-8 Mine remains on schedule for potential approval and mobilization in mid-2026, with a targeted production restart in the second half of 2026. Operational Base: The JD-7 mine infrastructure will now serve as the central base of operations for the entire Monogram Mesa Mine Complex, improving efficiency and reducing costs. Mined material from JD-8, as part of Anfield’s hub-and-spoke production strategy, will be processed at Anfield’s Shootaring Canyon mill in Utah, one of only three licensed conventional mills in the United States. Competitive Advantage: The Company is leveraging its recent acquisition of BRS Inc. to streamline the regulatory process and technical development. This permit amendment builds directly on the Company’s initial comprehensive Plan of Operations permitting application submitted to DRMS on November 19, 2025, which received an affirmative initial completeness determination from DRMS on December 22, 2025, confirming that all required technical, environmental, reclamation, and financial assurance components were in place to advance to full substantive review. The permit amendment incorporates all regulatory feedback received and further strengthens the application as it progresses through the review process. The Company is confident regarding the quality and completeness of the current submission and reaffirms that the JD-8 Mine remains on track for potential approval and mobilization in mid-2026, with targeted production restart in the second half of 2026. Announcement • Apr 02
Anfield Energy Inc. Submits Notice Of Intent For Underground Drilling Program At SM-18 Uranium-Vanadium Project In Colorado Anfield Energy Inc. submitted a Notice of Intent to the relevant regulatory authorities in preparation for an underground drilling program at its SM-18 uranium-vanadium project in Colorado. The planned underground drilling program is designed to verify and potentially expand existing mineral resources at SM-18. In parallel, the Company will use the drilling campaign as an opportunity to advance the preparation of a comprehensive Plan of Operations, targeted for completion later this year. This work supports the longer-term development of SM-18 as a producing mine. The Company notes that the underground workings at SM-18 remain in good condition, with the overall mine area benefiting from well-preserved historic infrastructure that will facilitate efficient access and drilling activities. Upon successful advancement, SM-18 is expected to become Anfield’s fourth mine, joining the Company’s Slick Rock and JD-8 projects in Colorado and the Velvet-Wood project in Utah. Each of these four mines—Velvet-Wood, Slick Rock, JD-8, and SM-18—will become flagships for Anfield within their respective mine complexes. This progression aligns with Anfield’s hub-and-spoke production model, which leverages the Company’s 100%-owned Shootaring Canyon mill in Utah — one of only three licensed and permitted conventional uranium mills in the United States. The Company is also advancing plans to expand the Shootaring Canyon Mill’s capacity to 1,000 tons per day with a licensed annual production capacity of 3,000,000 pounds of U3O8. This upgrade, part of the mill reactivation process currently under review by the Utah Department of Environmental Quality, will significantly enhance the Shootaring Canyon Mill’s ability to process feed from multiple mines efficiently, supporting scaled production of both uranium and vanadium. The SM-18 project is part of Anfield’s broader West Slope and regional portfolio in Colorado, which benefits from historical production data and proximity to existing infrastructure. All of Anfield’s conventional uranium assets are located within a 200-mile radius of the Shootaring Canyon Mill, enhancing logistical and economic synergies. New Risk • Mar 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$98.9m market cap). Board Change • Feb 19
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ross McElroy was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 13
Anfield Energy Inc. announced that it has received CAD 14.013456 million in funding from Uranium Energy Corp. On January 12, 2026, Anfield Energy Inc. closed the Non-Brokered LIFE Offering and Concurrent Non-Brokered Private Placement. The company issued 1,345,292 common shares at a price of CAD 6.25 ($4.46) per LIFE share for gross proceeds of CAD 8,408,075 ($6,000,002.32) (the “LIFE Offering”) and issued 896,861 subscription receipts at a price of CAD 6.25 ($4.46) for gross proceeds of CAD 5,605,381.25 ($4,000,000.06) under concurrent private placement raising total aggregate gross proceeds of CAD 14,013,456.25 ($10,000,002.38). The transaction included participation from UEC Energy Corp. (“UEC”), a subsidiary of Uranium Energy Corp. an insider and controlling shareholder of the Company for . CAD 5,605,381.25 ($4,000,000). Uranium Energy’s participation in the Concurrent Offering through its wholly-owned subsidiary, UEC, and Mr. Corey Dias’s participation in the LIFE Offering, for 44,882 LIFE Shares and gross proceeds of CAD 280,512.5 ($200,173.72). The LIFE Shares were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”). The LIFE Shares were offered for sale to purchasers resident (i) in each of the provinces and territories of Canada, except Quebec, pursuant to the Listed Issuer Financing Exemption, and (ii) in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “1933 Act”). As the LIFE Offering was completed pursuant to the Listed Issuer Financing Exemption, the LIFE Shares issued to Canadian subscribers pursuant to the LIFE Offering are not subject to a hold period pursuant to applicable Canadian securities laws. The Subscription Receipts issued pursuant to the Concurrent Offering are subject to a hold period of four months and a day under applicable Canadian securities laws. Announcement • Dec 31
Anfield Energy Inc. Announces Chief Financial Officer Changes, Effective January 1, 2026 Anfield Energy Inc. has appointed Lubica (Luba) Niemann as Chief Financial Officer, effective January 1, 2026. Lubica Niemann is a seasoned financial professional with fifteen years of experience in accounting and financial reporting, primarily within the public company sector. She has held senior finance positions including controller for several TSXV-listed companies, including Kutcho Copper Corporation and MineHub Technologies Inc., and brings a practical, hands-on approach to financial operations, reporting, and audit coordination. Lubica Niemann holds a Bachelor of Technology in Accounting from the British Columbia Institute of Technology. Laara Shaffer, the current Chief Financial Officer of Anfield, will remain as a Director of the Company. Announcement • Dec 25
Anfield Energy Inc. announced that it expects to receive CAD 14.013456 in funding from Uranium Energy Corp. and other investors Anfield Energy Inc. announced a non-brokered private placement offering of up to 1,120,000 common shares at a price of CAD 6.25 per for gross proceeds CAD 7,000,000 and the company also announced a concurrent non-brokered private placement of up to 1,120,000 subscription receipts at a price of CAD 6.25 for gross proceeds of CAD 7,000,000 for total aggregate gross proceeds of CAD 14,000,000 on December 24, 2025. Uranium Energy Corp. will subscribe for 1,120,000 subscription receipts. The offering is expected to close on or about December 31, 2025. The offering is subject to customary closing conditions, including receipt of required approvals of the TSXV and the Nasdaq Capital Market LLC. The LIFE offering will not be subject to a hold period pursuant to applicable Canadian securities laws. The subscription receipts issued pursuant to the concurrent offering will be subject to a hold period of four months and a day under applicable Canadian securities laws. The company may elect to pay finders’ fees to eligible parties who have introduced subscribers to the offering and will determine the amount of such fees in negotiation with the eligible parties, in accordance with the policies of the TSXV. The company requires the approval of the TSX venture exchange and the approval of the disinterested shareholders of the company.
On the same date, the company amended the terms of the transaction. The company will now issue 1,345,292 common shares at an issue price of CAD 6.25 for gross proceeds of CAD 8,408,075 under LIFE offering and 896,861 subscription receipts at an issue price of CAD 6.25 for gross proceeds of CAD 5,605,381.25 under non-brokered private placement for aggregate proceeds of CAD 14,013,456.25. Uranium Energy Corp. will subscribe for 896,861 subscription receipts under non-brokered private placement. The company requires the approval of the TSX venture exchange. The offering is expected to close on or about January 7, 2026 and is subject to customary closing conditions, including receipt of required approvals of the TSXV and the Nasdaq Capital Market LLC. The company may elect to pay finders’ fees to eligible parties who have introduced subscribers to the offering and will determine the amount of such fees in negotiation with the eligible parties, in accordance with the policies of the TSXV. LIFE offering will not be subject to a hold period pursuant to applicable Canadian securities laws. The subscription receipts issued pursuant to the concurrent offering will be subject to a hold period of four months and a day under applicable Canadian securities laws. Announcement • Dec 19
Anfield Energy Inc. (TSXV:AEC) signed a definitive stock purchase agreement to acquire BRS Inc. from Douglas L. Beahm for $5 million. Anfield Energy Inc. (TSXV:AEC) signed a definitive stock purchase agreement to acquire BRS Inc. from Douglas L. Beahm for $5 million on December 18, 2025. As part of the acquisition, Mr. Beahm and the BRS team will join Anfield Energy Inc., with Mr. Beahm firmly committed to serving the Company in the Chief Operating Officer role while continuing to serve as principal engineer.
The transaction is subject to a number of conditions, including receipt of any required regulatory approvals and satisfaction of customary closing deliverables. New Risk • Nov 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$16m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Nov 19
Anfield Energy Inc. Submits Permitting Application to Restart JD-8 Uranium Mine in Montrose County, Colorado - Targeting Operations in Second Half of 2026 Anfield Energy Inc. announced the formal submission of a comprehensive permitting application to the Colorado Division of Reclamation, Mining and Safety (DRMS) for the restart of its fully permitted, past-producing JD-8 uranium and vanadium mine in Montrose County, Colorado. The Company is targeting operational restart in the second half of 2026. The JD-8 mine project is a high-grade conventional uranium and vanadium asset within Anfield's strategic development portfolio, underpinned by the Shootaring Canyon Mill--one of only three licensed conventional uranium mines in the United States. The project leverages existing infrastructure, historic production data, and previously approved permits to accelerate the path to production. Key elements of the permitting application and restart plan include: Streamlined Regulatory Pathway: The application builds on existing state permits, focusing on operational updates, enhanced monitoring, and modern reclamation standards to expedite approval. Proven Conventional Mining: Underground long-hole stoping methods will be employed, supported by updated ventilation, ground control, and water management systems. Economic and Community Benefits: The restart is projected to create approximately 50 direct jobs during operations, with additional indirect employment in transportation, supply chain, and local services. Environmental Responsibility: The plan includes concurrent reclamation and full bonding in compliance with Colorado's rigorous environmental regulations. The Company notes that its decision to advance development of the JD-8 uranium and van vanadium mine is based on historical production data and analysis of drilling samples, and not on a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there is additional uncertainty and risk related to the economics and viability of development. Announcement • Oct 23
Anfield Energy Inc. Announces Ground-Breaking Ceremony for Velvet-Wood Uranium-Vanadium Mine, Advancing U.S. Energy Independence Anfield Energy Inc. announced plans for a ceremonial groundbreaking on November 6, 2025, at its Velvet-Wood uranium-vanadium mine in San Juan County, Utah. This pivotal event will signal the official launch of construction activities, following the U.S. Department of the Interior's expedited federal approval in May and the Utah Department of Oil, Gas and Mining's greenlight in October. Reviving a site that produced 4 million pounds of U3O8 and 5 million pounds of V2O5 from 1979 to 1984, Velvet-Wood's current resources (per the 2023 Preliminary Economic Assessment) stand at 4.6 million pounds eU3O8 at 0.29% grade (Measured & Indicated) and 552,000 pounds eU3O8 At 0.32% (Inferred), with a 1.4:1 vanadium-to-uranium ratio. The PEA forecasts a pre-tax NPV8% of USD238M and IRR of 40% at USD 70/lb U3O8 and USD 12/lb V2O5, affirming strong potential amid rising commodity prices. This announcement follows the Department of the Interior's trailblazing 14-day environmental review under President Trump's energy emergency declaration, as praised by Secretary Doug Burgum: "This is mineral security in action." Anfield's fully U.S.-based assets--including Slick Rock, Frank M, and the Paradox Mine Complex--all within 200 miles of Shootaring Canyon, further solidify the Company's hub-and-spoke model. Ongoing mill license upgrades aim for 3 million pounds annual capacity, aligning with surging demand from utilities and advanced reactors. Announcement • Oct 22
Anfield Energy Inc. Completes Confirmation Drill Program at JD-7 Mine and Prepares for Resource Update Anfield Energy Inc. announced the completion of a 20-hole, 8,000-foot confirmation drill program at its JD-7 mine, one of the five mines (JD5, JD-6, JD-7, JD-8 and JD-9) which make up the Company's Paradox Mine Complex. The drill results will be incorporated into a new uranium and vanadium resource report in First Quarter/26, alongside the additional drilling to be completed at the other JD mines. Significant intercepts of mineralization from the program include: 17.0 ft grading an average of 5,190 ppm (0.519%) eU3O8 in Hole JD7-25-004B, with a peak of 14,850 ppm (1.485%) eU3O8 at 153.5 ft; Drill program results: Drilling commenced on September 15th, 2025, and preliminary downhole gamma results have been highly encouraging. A total of 23 drill holes were performed over the 20 planned drilling targets. All drilling activities were completed on October 9th, 2025, with reclamation activities ongoing to date. A total of 7,564 ft of drilling was performed of which 149 ft was performed by split barrel coring and the remainder was air rotary. Gamma ray logging results indicate elevated uranium mineralization exceeding the typical minimum cutoff grade of 0.02%eU3O8 (200 ppm) eU3O8 and minimum Grade Thickness (GT) of 0.2 in 15 of the 23 drill holes completed. These findings verify the presence of uranium mineralization at depths and locations consistent with the historical drilling dataset for the JD-7 mine. The drilling results demonstrate robust uranium mineralization across the targeted areas, with eleven holes yielding a Grade Thickness (GT) over 0.5, indicating high-potential zones; six holes showing GT values between 0.1 and 0.5, reflecting moderate mineralization; five holes containing only trace mineralization, and one drill hole containing no mineralization over the 0.02% eU3O8 grade cutoff. The lower-strength intercepts are associated with the program's objective to delineate the outer boundaries of the mineralization, providing valuable data for refining resource models and supporting future mine planning and development at JD-7. This data will be used along with correlation to downhole geophysical logging to assess radiometric equilibrium and to verify the vanadium to uranium ratio (V:U). The verification of the historic drill data, confirmation of radiometric equilibrium and verification of the vanadium uranium ratio will allow re-assessment of the uranium and associated vanadium mineral resources at JD-7. The drill results will provide a higher level of confidence in the uranium and vanadium resource estimates. Split barrel core intervals were obtained from 5 of the 23 drill holes at 5 of the 20 planned drilling locations. These corings will be employed to provide physical samples of mineralized material. The cores can also be used for mineralogical and metallurgical testing. This data will enhance the accuracy of the geological model and supports Anfield's efforts to advance the project toward production readiness. Announcement • Oct 07
Anfield Receives Official Greenlight from Utah Regulators for Velvet-Wood Mine Construction Anfield Energy Inc. announced that it has received the required approval from the Utah Department of Oil, Gas and Mining (DOGM) for Anfield to commence the advancement of the Company’s Velvet-Wood uranium project in Utah to construction. The U.S. Department of the Interior (“DOI”) had previously approved the environmental permit for Velvet-Wood as it was previously selected as part of the federal government’s national response to the energy emergency declared by President Donald J. Trump. Anfield will post the required increase in the Velvet-Wood reclamation bond with the Bureau of Land Management. With all of its uranium assets located in the United States, including the Shootaring Canyon mill - one of only three licensed, permitted and constructed conventional uranium mills in the country - Anfield is strategically positioned to help meet America’s growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium annually and yet produces less than 1% of that total domestically. Anfield acquired the Velvet-Wood mine from Uranium One in 2015. Between 1979 and 1984, Atlas Minerals mined approximately 400,000 tons of ore 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. The current mineral resources (PEA) of the combined Velvet and Wood historical mines have been estimated to comprise 4.6 million pounds of eU3O8, at a grade of 0.29% eU3O8 (measured and indicated resource), and 552,000 pounds of eU3O8, at a grade of 0.32% U3O8 (inferred resource) with a vanadium-to-uranium ratio of 1.4 to 1. In May 2024, the Company submitted its Plan of Operation for its Velvet-Wood mine to the State of Utah and BLM. This step was undertaken as the Company advances Velvet-Wood to production-ready status concurrently with the Shootaring Canyon mill. This Plan of Operation includes specific operating actions and controls, reclamation actions, an estimate of reclamation surety based on third party costs and technical bases for how the actions meet the regulatory requirements of the State of Utah and the BLM. Past production at the mine includes four million pounds of uranium and five million pounds of vanadium. Announcement • Oct 01
Anfield Energy Inc. Provides Positive Update Regarding Its Confirmation Drill Program At Its JD-7 Mine Anfield Energy Inc. announced the completion of the first 12 holes of the Company's ongoing 20-hole, 8,000-foot confirmation drill program at its JD-7 mine, an existing uranium and vanadium open pit mine in Montrose County, Colorado. This program, announced on August 25, 2025, aims to collect geologic information related to uranium mineralization in multiple sandstone hosted deposits throughout the area; confirm the existing pit resources; confirm the extent and location of underground uranium and vanadium resources; and consider potential uranium and vanadium resource expansion. The drill program - consisting primarily of air rotary with a subset of split barrel core drilling - is being conducted by Tri-Park Drilling. Significant intercepts of mineralization from the program include: 17.0 ft grading 5,190 ppm (0.519%) eU3O8 (GT of 8.82) in Hole JD7-25-004B, with a peak of 14,850 ppm (1.485%) eU3O8 at 153.5 ft; The Company remains on track to complete the remaining holes in the coming weeks, with full results expected to inform future development plans, including integration into Anfield's hub-and-spoke production model centered around the Shootaring Canyon Mill in Utah. Drilling commenced on September 15th, 2025, and initial results have been highly encouraging, with 12 out of the planned 20 drilling targets completed to date. Gamma ray logging results indicate elevated uranium mineralization exceeding the minimum cutoff grade of 200 ppm eU3O8 and minimum Grade Thickness (GT) of 0.2 in 10 of the 12 drill holes completed so far. These findings confirm the presence of uranium mineralization at depths and locations consistent with the historical drilling dataset for the JD-7 mine. The drilling results demonstrate robust uranium mineralization across the targeted areas, with seven holes yielding a Grade Thickness (GT) over 0.5, indicating high-potential zones; three holes showing GT values between 0.1 and 0.5, reflecting moderate mineralization; and two holes containing only trace mineralization. The lower-strength intercepts are associated with the program's objective to delineate the outer boundaries of the mineralized resource, providing valuable data for refining resource models and supporting future mine planning and development at JD-7. Two of the drill holes were completed with cored intervals to obtain physical samples of mineralized material. Cored intervals were completed using split-barrel core drilling through the mineralized zones. A subset of the remaining drill holes will also be drilled with core intervals. The core samples will be analyzed by two laboratories: Pace Analytical of Sheridan, Wyoming and Hazen Research of Golden, Colorado. The cores can also be used for mineralogical and metallurgical testing. This data will enhance the accuracy of the geological model and supports Anfield's efforts to advance the project toward production readiness. Board Change • Sep 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ross McElroy was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 25
Anfield Energy Inc. to Commence Confirmation Drill Program at its JD-7 Mine Anfield Energy Inc. announced that it has received approval for its Notice of Intent ("NOI"), through its wholly owned subsidiary Highbury Resources Inc., with the Colorado Division of Reclamation, Mining and Safety ("DRMS"), to begin a 20-hole, 8,000-foot rotary drill program at the existing JD-7 open pit mine in Montrose County, Colorado. The Company has engaged Tri Park Drilling to undertake the program and expects drilling to commence in mid-September and take approximately two weeks to complete. The purpose of the in-field exploratory drilling program is to: collect geologic information related to uranium mineralization in multiple sandstone hosted deposits throughout the area; confirm the extent and location of underground uranium and vanadium resources; and consider potential uranium and vanadium resource expansion. While no formal economic evaluation, Preliminary Economic Assessment (PEA), Preliminary Feasibility study (PFS), or Feasibility Study (FS) has been completed and while mineral resources are not mineral reserves and do not have demonstrated economic viability, reasonable prospects for future economic extraction were applied to the mineral resource estimate herein through consideration of grade and GT cutoffs and by screening out areas of isolated mineralization which would not support the cost of conventional mining under current and reasonably foreseeable conditions. Anfield's conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project, as well as the Findlay Tank breccia pipe. A NI 43-101 PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and, resultantly, there is no certainty that the included preliminary economic assessment would be realized. West Slope: NI 43-101 resource estimate for the JD-6, JD-7, JD-8 and JD-9 properties, completed by BRS Inc. (effective March 2022). Indicated and Inferred mineral resources estimates were developed using GT cut-off of 0.1 ft% eU3O8. Slick Rock: The PEA for Velvet-Wood/Slick Rock was authored by Douglas L. Beahm, P.E., P.G. Principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical content of this news release. Anfield's conventional uranium assets include theVV-Wood Project, the West Slope project, as well as the Find lay Tank breccia pipe. a NI 43-101 PEA has been completed for the Velvet-Wood Project. The PEA is preliminary in nature and includes inferred mineral resources that is considered too speculative geologically to has economic considerations applied to them that will enable them to be categorized as Mineral reserves and, resultantly, There is no certainty that the includediminary economic assessment would be realized. Announcement • May 27
Anfield Energy Inc. Announces U.S. Department of the Interior Approval of Company's Velvet-Wood Uranium-Vanadium Mine Anfield Energy Inc. announced that the U.S. Department of the Interior ("DOI") has approved the Company's Velvet-Wood uranium project in San Juan County, Utah. Velvet-Wood was previously selected as part of the federal government's national response to the energy emergency declared by President Donald J. Trump. Velvet-Wood was the first uranium project to be prioritized under newly established emergency procedures that accelerate the environmental review process for critical energy infrastructure. The Bureau of Land Management ("BLM") completed its review of the project in less than 14 days. In announcing the Velvet-Wood approval, U.S. Secretary of the Interior Doug Burgum stated: "This approval marks a turning point in how secure America's mineral future. By streamlining the review process for critical mineral projects like Velvet-Wood, we're reducing dependence on foreign adversaries and ensuring military, medical and energy sectors have the resources they need to thrive. This is mineral security in action". On the same day that the DOI announced the Velvet-Wood mine approval, President Trump signed a number of nuclear energy-related Executive Orders outlining policies that will reinvigorate the nuclear industrial base, including "Reinvigorating the Nuclear Fuel Cycle", "Accelerating New Nuclear Energy Production", "Expanding the American Nuclear Workforce", "Strengthening the Domestic Nuclear Fuel Supply Chain" and "Unleashing American Energy". The Shootaring Canyon Mill in Utah is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed conventional uranium mills in the United States. Anfield's conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield's conventional uranium assets include the Velvet-Wood Project, the West Slope Project, the Frank M Uranium Project, the Findlay Tank breccia pipe as well as an additional 12 U.S. Department of Energy (DoE) leases in Colorado. A combined NI 43-101 PEA has been completed for the Velvet-Wood Project and the Slick Rock Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill. Announcement • Apr 15
Anfield Energy Inc., Annual General Meeting, Jun 13, 2025 Anfield Energy Inc., Annual General Meeting, Jun 13, 2025. Announcement • Apr 02
Anfield Energy Inc. Appoints Ross Mcelroy to Board of Director Anfield Energy Inc. announced the appointment of Ross McElroy to its Board of Directors. Mr. McElroy is a professional geologist bringing more than 38 years of mining industry experience both in operation and corporate capacities, involved with major, mid-tier and junior mining and exploration companies. As a very successful exploration geologist, he has been a key member in the discoveries of numerous world-class uranium and gold orebodies, several of which have been advanced to development and mining operations. Mr. McElroy specializes in the exploration and development phases of projects and sits on various public and private boards. For the past 15 years, he has served on the boards of several publicly listed and private companies, as both an independent and executive director. His most recent executive role was as President and CEO of Fission Uranium Corp., a company of which he was a co-founder, and where under his leadership as CEO the company eliminated its debt and raised ~$200M in equity finance and where he ultimately navigated the $1.14B sale of Fission Uranium Corp. to Paladin Energy in December 2024. Mr. McElroy was appointed following the recent death of Company director Eugene Spiering. Announcement • Jan 29
Anfield Energy Inc. Announces Completion of Verification Drilling, Plans for Updated Resource and Mine Permitting At Slick Rock Anfield Energy Inc. announced that it has completed a 14-hole, 14,100-foot rotary drill program at its Slick Rock uranium and vanadium project, located in San Miguel County, Colorado. Anfield will use the drill results to both upgrade its uranium and vanadium resource estimate for Slick Rock – as found in its existing PEA – and prepare mine designs for a large mine permit for the project. Slick Rock Project Drilling: Highlights: 14 drill holes completed at the Slick Rock property in 2024 for 14,100 feet drilled, Gamma ray logging results show elevated uranium mineralization exceeding 200ppm eU3O8 in 7 of 14 drill holes, Significant intercepts of mineralization include: 10.0 ft grading 1560 ppm eU3O8 (GT of 1.56) in Hole SR-24-01, peak of 2610 ppm eU3O8 at 925.0 ft and 5.0 ft grading 2180 ppm eU3O8 (GT of 1.09) in Hole SR-24-04, peak of 5910 ppm eU3O8 at 809.5 ft. Drilling results confirm the presence of uranium mineralization at depths and locations consistent with the historical drilling dataset. The objective of Anfield’s initial drilling program was to verify the historical drilling dataset of 285 drill holes at Slick Rock which was generated by the USGS and various subsequent operators. The company has completed fourteen rotary drill holes in the Slick Rock project area totaling 14,100 feet of drilling. The local drilling contractor, Tri Park Corporation, mobilized out of Nucla Colorado on September 22, 2024. The drilling employed standard circulation rotary drilling techniques, varying between Air, Foam, and Mud circulation depending on the depth and groundwater conditions. Lithological samples were taken on 5-foot intervals and recorded by on-site geologists. Fourteen drill holes were completed by November 12, 2024 and all associated drill pads were reclaimed and seeded by November 22, 2024. The drill holes were designed to offset and verify drilling targets derived from historical drilling data used in preparation of the Inferred Mineral Resource estimate for the Slick Rock project (PEA dated May 6, 2023). The depths and grades of mineralization encountered in this drilling program were consistent with the historical depths and grades of mineralization contained in the historical drilling data. Variance between the historical drill hole intercepts and the verification holes was experienced, with some intercepts yielding greater or lesser values. Variances are to be expected due to the distances between the historical collars and offset holes and the variable downhole drift of the drill holes. The verification holes demonstrated close stratigraphic correlation and a prevalence of mineralization of similar tenor and character to the historical intercepts, placing a high level of confidence in the quality and validity of the historical drill hole data. Intercepts are reported at a 0.02 (200 ppm) eU3O8% grade cut-off. All grades were calculated from gamma-ray logs measured by an experienced commercial independent logging contractor, Hawkins CBM Logging of Cody, Wyoming. Hawkins CBM’s downhole sonde was calibrated at the US Department of Energy’s Casper, Wyoming logging test pits prior to deployment to the field. The calibrated downhole sonde is used to measure natural gamma emission from the rock formation down the borehole. The recorded natural gamma data was used in creating the geophysical well log and calculate “equivalent” (“e”) grades of U3O8. The drill holes were vertical in orientation and all drill holes were measured for downhole drift with the geophysical probe. Drift values for each drill hole are listed in Table 1 and in the most extreme cases, the drill hole deviation value was less than 3 degrees from vertical. The geologic units hosting the mineralization are generally flat lying, therefore reported thicknesses are apparent true thicknesses. Announcement • Oct 03
IsoEnergy Ltd. (TSX:ISO) entered into an agreement to acquire Anfield Energy Inc. (TSXV:AEC) from Mega Uranium Ltd. (TSX:MGA), enCore Energy Corp. (TSXV:EU), NexGen Energy Ltd. (TSX:NXE) and others for CAD 110 million. IsoEnergy Ltd. (TSX:ISO) entered into an agreement to acquire Anfield Energy Inc. (TSXV:AEC) from Mega Uranium Ltd. (TSX:MGA), enCore Energy Corp. (TSXV:EU), NexGen Energy Ltd. (TSX:NXE) and others for CAD 110 million on October 2, 2024. Under the terms of the transaction, Anfield shareholders will receive 0.031 of a common share of IsoEnergy for each Anfield share held. Following completion of the Transaction, the ISO shares will continue trading on the TSX and the Anfield shares will be de-listed from the TSXV. In addition, the agreement provides that, under certain circumstances, IsoEnergy would receive a CAD 5 million termination fee. The transaction has been unanimously approved by each company board of directors. The transaction is subject to approval of both companies shareholders and regulatory approvals including, but not limited to, approval of the Toronto Stock Exchange and the TSX Venture Exchange. The transaction is expected to be completed in the fourth quarter of 2024.
Haywood Securities acted as legal and financial advisor to Anfield. Canaccord Genuity Corp. acted as legal and financial advisor to IsoEnergy. DuMoulin Black LLP acted as legal advisor to Anfield. Evans & Evans, Inc. acted as fairness opinion provider to the Anfield special committee. Cassels Brock & Blackwell LLP acted as legal advisor to IsoEnergy. Announcement • Jun 18
Anfield Receives Drill Program Permit Application Approval for Slick Rock Anfield Energy Inc. announced that it has received final approvals for its drill permit application to commence a 20-hole, 20,000-foot rotary drill program at its Slick Rock uranium and vanadium project, located in San Miguel County, Colorado. Permits approvals included the Bureau of Land Management, the Colorado Division of Resources Mining and Safety, and a Special Use Permit from San Miguel County, Colorado to allow access via county roads for the drilling project. The permits allow drilling between the months of June and September. Anfield will use local contractors to complete the drilling. Anfield expects to commence the drill program in the third quarter of 2024. This is a crucial step in Anfield’s plan to secure a large mine permit for Slick Rock as the Company looks towards future uranium and vanadium production. The drill program will be used to collect geological information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters. Announcement • May 03
Anfield Energy Inc. Submits Plan of Operation to the State of Utah for the Velvet-Wood Mine as the Company Continues Its March Towards Uranium Production Anfield Energy Inc. announced that it has submitted its Plan of Operation for its Velvet-Wood mine to the State of Utah and BLM. This important step is being undertaken as the Company advances Velvet-Wood to production-ready status concurrently with the Shootaring Canyon mill. This Plan of Operation includes specific operating actions and controls, reclamation actions, an estimate of reclamation surety based on third party costs and technical bases for how the actions meet the regulatory requirements of the State of Utah and the BLM. Following the approval of the Plan of Operation, Anfield will be well-positioned to recommence uranium production at Velvet-Wood ahead of the planned restart of the Shootaring Canyon mill in 2026. The nuclear renaissance remains robust, with no shortage of positive news entering the market daily. The continued buildout of new reactors in disparate regions such as Asia, Europe, North America and Africa truly underscores the global nature of the nuclear embrace. At the same time, the Japanese reactor restarts and life extensions reflect the continued confidence of Japan’s reengagement of nuclear power, post-Fukushima. The U.S.’s commitment to nuclear is reflected in not only life extensions of existing NPPs and commissioning of new reactors, but also the recommissioning of the Palisades nuclear power plant in Michigan. Finally, China’s accelerated buildout of nuclear reactors continues unabated. While the demand side of the uranium market is rapidly growing, the supply side continues to face challenges to meet demand. Recent concerns regarding Kazatomprom’s ability to meet its production targets, coupled with recent floods in Kazakhstan, has created unexpected challenges for the world’s uranium producer. Supply chain logistics for access to western consumers have also weakened due to war in Ukraine, exacerbated by China’s aggressive pursuit of Kazakh uranium supplies. Moreover, the U.S. government’s push to ban the sale of Russian enriched uranium is likely to lead to a division between western-derived nuclear fuel supply – including uranium – and eastern-derived material. While these challenges are likely to remain in the near term, the US government’s recognition of these issues has led to the creation of a 200GW energy roadmap to expand domestic milling and mining operations by 500,000MT per year – 110 million pounds of uranium per year – is a significant catalyst for US-based producers. This is taking place while, according to the U.S. EIA, U.S. uranium production fell to essentially zero in the fourth quarter of 2023. Announcement • Apr 28
Anfield Energy Inc., Annual General Meeting, Jun 28, 2024 Anfield Energy Inc., Annual General Meeting, Jun 28, 2024. Announcement • Apr 02
Anfield Energy Announces Appointment of Doug Beahm as Chief Operating Officer Anfield Energy Inc. announced that Doug Beahm, P.E., P.G., has joined the Company as its Chief Operating Officer. Mr. Beahm’s 50 years of extensive uranium-related experience in exploration, project assessment, mine planning and development, permitting, mine and processing facility operation, and mine reclamation is critical to Anfield’s next steps of advancing its assets to become a U.S. uranium producer. Mr. Beahm will also continue to serve as the Principal of BRS Inc. and, while BRS will continue to serve other clients, BRS will also bring to Anfield the expertise of its staff which includes 16 professional and technical members of which 5 are Professional Engineers and 4 are Professional Geologists. About the Uranium Market The macro view of the nuclear and uranium markets remains strongly positive. With a continued shift away from Russia, the value of European and North American uranium conversion and enrichment has increased significantly as these continents look to not only pivot from Russian-sourced fossil fuels but to also embrace nuclear power. In fact, legislation introduced in U.S. Congress seeks to prohibit the import of enriched uranium from Russia, accelerating the need for increased Western capacity. Moreover, the challenges related to Kazakhstan’s uranium supply chain have already disrupted product flow to the West. As a result, China has taken the opportunity to seek closer ties to Kazakhstan as it continues to build out its extensive nuclear reactor fleet, negatively affecting uranium supplies available to the U.S. and other Western countries. In the U.S., the National Nuclear Security Administration’s Uranium Reserve awarded five contracts for near-term supply of uranium and the Sprott Physical Uranium Trust purchased millions of pounds of uranium on the spot market, further removing supply from the market. Moreover, the US government’s creation of a 200GW energy roadmap to expand domestic milling and mining operations by 500,000MT per year – 110 million pounds of uranium per year – is a significant catalyst for US-based producers. This is taking place while U.S. uranium production fell to essentially zero in the fourth quarter of 2023. Significantly, Japan has begun to restart its nuclear reactors – including its largest reactor - and extend the life of others while commissioning additional ones, underscoring Japan’s 180-degree turn regarding nuclear. This decision reflects the worldwide recognition of the need for new reactors to meet population increases, economic growth, electrical intensification and the critical task of meeting carbon emission targets. The requirement for increased baseload supply is sizeable. The worldwide requirement for major new baseload supply is being met with plans in many countries for both large-scale (1GW) reactors and Small Modular Reactors (SMRs). The World Nuclear Association in March 2024 records that there are 61 reactors under construction world-wide and another 105 reactors planned. In short, it remains a story of supply and demand; demand is rapidly growing, while supply is shrinking. Announcement • Dec 23
Anfield Energy Inc. announced that it has received CAD 3.102197 million in funding On December 22, 2023 Anfield Energy Inc. closed the oversubscribed non-brokered private placement. The company issued 47,726,100 Units at an issue price of CAD 0.065 per unit for gross proceeds of CAD 3,102,196.5. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of CAD 0.10 until December 20, 2025. The company paid finder's fees of CAD 124,798 and 1,919,970 broker warrants, respectively, were paid to certain arms-length brokerage firms in connection with completion of the Offering. The broker warrants are exercisable at a price of $0.065 until December 20, 2025. All securities issued in connection with the Offering are subject to a statutory hold period until April 21, 2024 in accordance with applicable securities laws. Announcement • Dec 07
Anfield Energy Inc. announced that it expects to receive CAD 2.6 million in funding Anfield Energy Inc. announced a non-brokered private placement for up to 40,000,000 units at a price of CAD 0.065 per unit for gross proceeds of up to CAD 2,600,000 on December 7, 2023. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of CAD 0.10 for a period of twenty-four months. The company may pay finders’ fees in certain circumstances. The transaction is subject to regulatory approval. All securities to be issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Announcement • Nov 08
Anfield Energy Inc. Files Drill Program Permit Application for Slick Rock Anfield Energy Inc. announced that it has submitted a drill permit application to the Bureau of Land Management (BLM) to commence a 20-hole drill program at its Slick Rock uranium and vanadium project. This is a crucial step in Anfield's plan to secure a large mine permit for Slick Rock as the Company looks towards future uranium and vanadium production. The drill program will be used to collect geologic information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters. Announcement • Oct 20
Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire Uranium Claims in Utah for $0.96 million. Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire Uranium Claims in Utah for $0.96 million on October 19, 2023. As consideration for the Claims and associated data, the Seller will receive $85,000 in cash and 15,000,000 common shares (the “Consideration Shares”) of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. No finders’ fees or commissions are owing by the Company in connection with the acquisition of the Claims. Announcement • Jul 12
Anfield Energy Inc. announced that it has received CAD 4.5001 million in funding On July 10, 2023, Anfield Energy Inc. closed the transaction. The company has issued 81,820,000 units at a price of CAD 0.055 per unit, for aggregate gross proceeds of CAD 4,500,100. The transaction included participation from management and directors for an aggregate of 9,080,000 units representing CAD 499,400 of the gross proceeds of the offering. Announcement • Jun 16
Anfield Energy Inc. announced that it expects to receive CAD 5 million in funding Anfield Energy Inc. announced a private placement of 90,909,090 units of the company at a price of CAD 0.055 per unit for aggregate gross proceeds of CAD 4,999,999.95 on June 15, 2023. Each unit will be comprised of one common share in the capital of the company and one-half of one Share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of CAD 0.085 for 24 months following the completion of the transaction. The transaction is scheduled to close on or about July 6, 2023 and is subject to certain conditions customary for transactions of this nature including, but not limited to, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange. Announcement • Jun 08
Anfield Energy Inc. (TSXV:AEC) entered into a definitive share purchase agreement to acquire Neutron Energy, Inc. from enCore Energy Corp. (TSXV:EU) for CAD 16.1 million. Anfield Energy Inc. (TSXV:AEC) entered into a definitive share purchase agreement to acquire Neutron Energy, Inc. from enCore Energy Corp. (TSXV:EU) for CAD 16.1 million on June 5, 2023. As consideration enCore will receive 185 million common shares of the Anfield Energy Inc. and CAD 5 million in cash. Through the acquisition of Neutron Energy, Anfield Energy will acquire a 100% interest in the Marquez-Juan Tafoya uranium project. Anfield Energy Inc. has also agreed to grant enCore the right to nominate one Director to the board of directors of the Anfield Energy Inc., to serve as long as enCore continues to hold at least 10% of the outstanding shares of the Anfield Energy Inc. Completion of the acquisition of Neutron, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Closing of the Transaction is anticipated to take place on or before July 21, 2023. Red Cloud Securities Inc. acted as an advisor in connection with the transaction. Announcement • Feb 14
Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire Dripping Springs Quartzite Uranium Project from ACCO Resources. Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire Dripping Springs Quartzite Uranium Project from ACCO Resources for $0.95 million on February 13, 2023. As consideration for the claims and associated data, the ACCO Resources will receive $50,000 in cash and 15 million common shares (the “Consideration Shares”) of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. Announcement • Feb 08
Uranium Royalty (USA) Corp. completed the acquisition of Uranium Royalty Portfolio from Anfield Energy Inc. (TSXV:AEC) for $1.5 million. Uranium Royalty (USA) Corp. agreed to acquire Uranium Royalty Portfolio from Anfield Energy Inc. (TSXV:AEC) for $1.5 million on November 17, 2022. The closing of the transaction is subject to customary conditions, including the approval of the TSX Venture Exchange.Uranium Royalty (USA) Corp. completed the acquisition of Uranium Royalty Portfolio from Anfield Energy Inc. (TSXV:AEC) on February 6, 2023. Announcement • Feb 02
Anfield Energy Inc. to Complete Preliminary Economic Assessment of Its Slick Rock Uranium Project Anfield Energy Inc. announced that BRS Engineering (BRS) has begun a Preliminary Economic Assessment (PEA) for the Company's Slick Rock uranium and vanadium project (Slick Rock). Slick Rock is located in the prolific Uravan region of Colorado, in close proximity to Anfield's West Slope uranium and vanadium project. The property holds a historical inferred resource of 2.5 million tons at 0.228% uranium and 1.37% vanadium, returning 11.6 million pounds of uranium and 69.6 million pounds of vanadium and, between 1957 and 1983, Slick Rock produced 2.2 million pounds of uranium and 13.9 million pounds of vanadium. Finally, in 2014 Uranium Energy Corporation ("UEC"), the previous owner of Slick Rock, issued a PEA which stated a pre-tax project Internal Rate of Return (IRR) of 33% and a Net Present Value of USD 63.5 million, based on a discount rate of 7% and a uranium price of USD 60 per pound, along with a vanadium price of USD 10 per pound. The mineral resource estimates and PEA cited above are based on data and reported prepared by the previous operator of the project. Anfield is treating these reported as historic in nature. Work necessary to independently verify the classification of the mineral resource estimates and the PEA in accordance with National Instrument 43-101, verified by a qualified person, and in compliance with CIM standards has not been completed. This historical estimate and PEA should not be relied upon. Slick Rock is located in a well-known uranium mining region in Colorado, within the historic Uravan Mineral Belt and at the intersection of two major mineral trends. Uranium and vanadium were produced historically at the Burro Mine within the Slick Rock property package between 1957 and 1983, and future exploration targets continue to focus on the down-dip extensions of the Burro and Sunday-Carnation mineral trends. The property was the subject of a preliminary economic assessment in 2014. Announcement • Jan 17
Anfield Energy Inc. entered into a definitive agreement to acquire 119 Unpatented mining claims and historical data of the Artillery Peak project area, located in Mohave County, Arizona from LiVada Corporation for $0.86 million. Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire 119 Unpatented mining claims and historical data of the Artillery Peak project area, located in Mohave County, Arizona from LiVada Corporation for $0.86 million on January 16, 2023. As consideration for the claims and associated data, LiVada Corporation will receive $0.5 million in cash and 6 million common shares of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. Announcement • Jan 04
Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire 100% Interest in 65 Unpatented Mining Claims and Historical Data of the Marysvale Uranium Project from Nedeel LLC and BBL-2 LLC. Anfield Energy Inc. (TSXV:AEC) entered into a definitive agreement to acquire 100% Interest in 65 Unpatented Mining Claims and Historical Data of the Marysvale Uranium Project from Nedeel LLC and BBL-2 LLC on January 3, 2023. In a related transaction, Anfield Energy Inc. also entered into a definitive agreement to acquire 100% interest in 26 unpatented mining claims and historical data of the Calf Mesa uranium project, located in Emery County, Utah. As consideration for the claims and associated data, the Sellers will receive $60,000 in cash and 9 million common shares (the “Consideration Shares”) of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. No finders’ fees or commissions are owing by the Company in connection with the acquisition of the Claims. Announcement • May 15
Anfield Energy Inc. announced that it has received CAD 4.89985 million in funding On May 14, 2021, Anfield Energy Inc. (TSXV:AEC) closed the transaction. The company received 57,645,295 Units at a price of CAD 0.085 per Unit for gross proceeds of CAD 4,899,850. All securities issued in the Offering are subject to a hold period expiring on September 15, 2021.The company paid an aggregate of CAD 271,292 and issued 3,156,671 Warrants as finder's fees to certain arms-length finders including Red Cloud Securities, Inc. The Offering included subscriptions from directors and officers of the Company for an aggregate of 4,250,000 Units. 
