Anfield Closes Financing and Issues 6-Month Corporate Update26 Jul 2017
VANCOUVER, BC–(July 26, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD)(“Anfield” or “the Company”) following the recent closing of its $3.1 million financing, is pleased to provide this review and corporate update with regard to its 2017 activities. Anfield continues to position itself to become a top-tier U.S.-based uranium producer in the near future. The following list highlights the Company’s achievements so far in 2017:
- Engaged BRS Inc., an engineering firm, to prepare a series of NI 43-101 compliant technical reports for Anfield’s 24 Wyoming-based projects;
- Announced the receipt of an NI 43-101 compliant mineral resources technical report for the Red Rim uranium project, based in Wyoming;
- Announced that Robert Lumadue, a uranium industry veteran, joined the Company as Vice President, Uranium Sales and Marketing;
- Continued advancing the Shootaring Canyon Uranium Mill license towards operational status with the Utah Division of Waste Management and Radiation Control; and
- Closed two private placement financings totaling approximately $6 million to be used for project development.
Corey Dias, Anfield’s CEO stated, “Following the closing of our recent financing, we will continue to fund the advancement of our current assets in anticipation of a rebound in the uranium price. At the same time, we will also continue to seek opportunities via acquisition and believe that this strategy will provide significant growth prospects for the Company. Finally, with the addition of a VP of Uranium Sales and Marketing, we have ramped up our interaction with a number of U.S.-based utilities with regard to pursuing long-term contracts and are pleased with the feedback we have received. We have no doubt that 2017 will be a transformational year for Anfield.”
Anfield is an energy metals exploration, 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 energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
The key asset in Anfield’s existing 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 uranium assets consist of conventional 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 Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield’s 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, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September 2016.
Anfield has agreed to enter into a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray Central Processing Plant in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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