Contiguous Claim Portfolio Doubled In The Artillery Peak Project Area

VANCOUVER - Anfield Energy Inc. has entered into a definitive agreement with LiVada Corporation to acquire 119 unpatented mining claims and historical data to further consolidate its uranium-rich Artillery Peak project area, located in Mohave County, Arizona. The Claims, which are contiguous to Anfield’s current project in the Date Creek Basin, double the number of Anfield’s claim holdings in the area, bringing the total number of Claims to 238. The combined claim body will be considered by BRS Inc. as part of the Company’s upcoming NI 43-101 uranium resource report for its Date Creek Basin/Artillery Peak projects.

Corey Dias, CEO, said, “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 maintain 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 for lithium mineralization. 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.”