Anfield Energy Inc. Doubles its Contiguous Claim Portfolio in the Artillery Peak Project Area

Anfield Energy (TSX.V AEC; OTCQB: ANLDF) announced that it has entered into a
definitive agreement with LiVada Corporation to acquire a 100% interest in 119
unpatented mining Claims and historical data to further consolidate the uranium-
rich Atillery Peak project area, located in Mohave County, Arizona. The Claims,
which are contiguous to Anfield’s current project in the Date Creek Basin, double
Anfield’s holdings in the area, bringing the total number of Claims to 238.

Management seems very confident in the uranium processing potential at its soon
to restart Shootaring Canyon Mill, given the company’s aggressive resource
acquisition strategy. Anfield looks to ensure that adequate sources of uranium
will be available to feed the mill through the decade to take advantage of rising
prices for North America sourced uranium.

Also importantly, the combined claim body will be considered by BRS Inc. in
Anfield’s upcoming NI 43-101 technical report for its Date Creek Basin/Artillery Peak
projects. The NI 43-101 will be key in helping investors judge the resource potential,
drilling costs and production timeline for Anfield’s significant uranium portfolio.

Corey Dias, Anfield’s CEO commented:

“We are pleased to begin 2023 with a further expansion of our uranium holdings in
the Artillery Peak project area through the acquisition of these additional claims and
related data. We will main this momentum as we continue to expand our Arizona-
based holdings in this region which also hosts Uranium Energy Corporation’s
Anderson uranium mine. In addition to its uranium prospectivity, the Seller also
believes the project area is prospective to lithium mineralization.”

Mr. Dias further stated,

“This undertaking fits our previously stated two-fold strategy of acquiring uranium
assets which fit into either our near-term or longer-term production plans. The near-
term strategy centers on our Colorado- and Utah-based uranium and vanadium
mines, underpinned by our wholly owned Shootaring Canyon mill, one of only 3
licensed conventional mills in the U.S. The longer-term production strategy – of
which the Artillery Peak project is part – includes the acquisition of complementary
assets with the potential to feed additional uranium and vanadium resource to our
Shootaring Canyon mill. We believe that the expected uranium resource delineated
for these expanded holdings will serve as a core component of our longer-term
strategy.”

The Outlook for Uranium is Bright

Capital10X remains very constructive on uranium demand and believes nuclear
power generation is entering a new renaissance. Demand for economical solutions
to the world’s emission problems are driving governments to realize the potential of
clean nuclear energy.

Geopolitical concerns driven by the invasion of Ukraine by major natural gas
exporter Russia have only sped up the urgency for additional conflict-free sources of
uranium and non-fossil fuel energy supply in the developed world – and North
America is poised to become a major supplier of both.  Uranium currently represents 10% of global electricity with 437 reactors online worldwide. With 338+ reactors pending construction, the world is moving to nuclear as a key part of the global energy mix.

Transaction Details

As consideration for the claims and associated data, LiVada Corporation will receive
US$50,000 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 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.

Anfield Energy is a market awareness client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

LEAVE A REPLY

Please enter your comment!
Please enter your name here