Acquisition Of The Dripping Springs Quartzite Uranium Project

VANCOUVER - Anfield Energy Inc. has entered into a definitive agreement with ACCO Resources to acquire 115 unpatented mining claims and associated data covering more than 2,300 acres of the Dripping Springs Quartzite uranium project, located in Gila County, Arizona.

Corey Dias, CEO, said, “We are pleased to acquire the Dripping Springs Quartzite Uranium Project, given both the history of uranium exploration and the identification by the US Geological Survey of more than 100 uranium deposits in the area. Moreover, the region hosts eight past-producing mines – which shipped material to the Globe, Arizona-based uranium buying station in the 1950s – along with Uranium Energy Corp.’s Workman Creek project.

We will continue to seek out prospective assets which align with our two-fold strategy of acquiring both near term and longer-term uranium and vanadium assets which will fit into our overall production plan. The near-term strategy centers on our advanced Utah and Colorado uranium and vanadium projects – Velvet Wood, West Slope and Slick Rock – underpinned by our wholly-owned Shootaring Canyon mill, one of only 3 licensed conventional mills in the U.S. The longer-term production strategy includes the acquisition of complementary assets with potential to feed additional uranium and vanadium resource to our Shootaring Canyon mill. Much like our Artillery Peak acquisition, we believe that Dripping Springs will both complement our existing portfolio of assets and serve as part of our longer-term uranium production strategy.”