Filing Of Drill Program Permit Application The Slick Rock

VANCOUVER - Anfield Energy Inc. has submitted a drill permit application to the Bureau of Land Management (BLM) to commence a 20-hole drill program at its Slick Rock uranium and vanadium project in Colorado. This is a crucial step in Anfield’s plan to secure a large mine permit for Slick Rock as the Company looks towards future uranium and vanadium production.

Corey Dias, CEO, said, “We are very pleased to commence development at Slick Rock as this project is integral to our hub-and-spoke uranium and vanadium production strategy. The drill program will allow us to both verify and upgrade our known resource at site and meet the criteria to secure a large mine permit from the appropriate agency. Our aim is to have Slick Rock ready for production ahead of the restart of the Shootaring Canyon mill, with initial feed ready for transport once the mill is ready to receive it. Based on our previously-issued Preliminary Economic Assessment for Shootaring, Slick Rock and Velvet Wood, production could average 750,000 pounds of uranium and 2,250,000 pounds of vanadium per year over sixteen years, of which roughly two thirds of annual uranium production will come from Slick Rock.”

The drill program will be used to collect geologic information related to uranium mineralization in the area. Activities include minor repairs to the access roads, preparation of drill sites, drilling with mud rotary drilling equipment, data collection and reclamation of drill sites. Three or four of the drill holes will be converted into groundwater monitoring and observation wells to establish baseline aquifer parameters.