Anfield Completes Agreement To Process Up To 500,000 Pounds Of Uranium Per Annum At Operating Processing Plant06 Dec 2016
VANCOUVER, BRITISH COLUMBIA – December 6, 2016 — Further to our news release of September 14, 2016, Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF) (FRANKFURT: 0AD)(“Anfield” or “the Company”) is pleased to announce, that it has finalized the terms of the Resin Processing Agreement (“RPA”) with Uranium One Americas Inc. (“Uranium One”).
Under the terms of the RPA, Uranium One will receive uranium containing resins from Anfield, and then will strip, elute, precipitate, wash, dry, produce and drum uranium yellowcake on behalf of Anfield. Anfield may process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray In Situ Recovery Central Processing Plant (ICPP) in Wyoming, USA, under this Agreement.
Corey Dias, Anfield’s CEO stated, “We are extremely satisfied with the continued execution and implementation of Anfield’s strategy with its recently acquired Wyoming assets. Moreover, following Anfield’s program of engaging utility fuel buyers, finalizing this RPA with an option to buy, sell and borrow yellowcake with Uranium One at mutually acceptable terms and conditions is an important step forward in Anfield’s further development.
As we have noted previously, the RPA with Uranium One allows Anfield to reduce capital costs and expedite the permitting process for our new projects. Moreover, it enhances our ability to potentially enter into and backstop utility sales contracts under our current arrangement with Uranium One and strengthens Anfield’s value proposition in the market place. Access to Conventional and ISR uranium production infrastructure at both the Shootaring Mill and the ICPP, respectively, will allow the Company to develop multiple potential uranium production scenarios, placing Anfield in a favorable position vis-à-vis its peers.”
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 centers, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
The key asset in Anfield’s conventional uranium 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 Properties – 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.
About Uranium One
Uranium One is one of the world’s largest and a low-cost uranium producers, with a globally diversified portfolio of assets located in Kazakhstan, the United States and Tanzania. ROSATOM State Atomic Energy Corporation, through its affiliates, is the main shareholder of Uranium One.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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