Completion Of Rotary Drill Program At The Slick Rock Project

VANCOUVER - Anfield Energy Inc. 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.

Corey Dias, CEO, said, “We are very pleased to have completed our Slick Rock drill program as part of our plan to advance our Slick Rock project through the permitting stage and, ultimately, to production. Anfield will pursue a Plan of Operations and mine plan for Slick Rock in 2025. The mine plan will also include the potential of incorporating the uranium and vanadium resources of one or more of the Anfield-controlled DOE leases in the vicinity into a larger mining operation. The Company then will pursue detailed mine planning and hydrological studies for the purpose of obtaining a mine permit in 2026.“This program has helped to confirm existing historical results and to also provide data from which we can both recategorize some of the current Inferred uranium and vanadium resource to Indicated and delineate an updated uranium and vanadium resource. We expect to have an updated resource estimate for Slick Rock in Q2/25. In addition, as part of the current drill permit held for Slick Rock, Anfield is authorized to install monitoring wells at site. Up to four wells are planned with at least one to be cored for metallurgical and equilibrium testing. The monitor wells will provide initial groundwater characterization and will be sampled quarterly to determine background water quality. The Company plans to complete this work in Q2/25.

Finally, Anfield intends to align the development timelines for both the Slick Rock and Velvet-Wood mines. The aim is to have both projects ready for production prior to the restart of the Shootaring Canyon mill, with initial feed ready for transport once the mill is ready to receive it.”