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Anfield Energy Completes Acquisition of Uranium Project with Historical Indicated Uranium Resource of 18.1 Million Pounds
VANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pl
About this update from Anfield Energy Inc
[{"type":"text","content":" VANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to announce, further to its news release of June 6, that it has completed the acquisition (the “Transaction”) of Neutron Energy, Inc. (“Neutron”), a wholly-owned subsidiary of enCore Energy Corp. (NYSE American: EU; TSXV: EU) (“ enCore”), which holds the Marquez-Juan Tafoya uranium project (“Juan Tafoya”) located in the Grants Uranium Mineral District, 50 miles west-northwest of Albuquerque, New Mexico. Corey Dias, Anfield’s CEO commented: “We are pleased to complete the acquisition of the Marquez-Juan Tafoya Uranium Project as it both reinforces our acquisition strategy whereby we pursue advanced uranium and or vanadium projects. Moreover, the addition of Marquez-Juan Tafoya - now our largest-single uranium project, in terms of resource size - significantly expands our uranium resource base. “With a global nuclear renaissance underway, we believe that our pursuit of advanced uranium deposits that will facilitate near-term uranium production is critical at this time as the global uranium supply deficit continues to grow. As Kazakhstan pivots East to support China in its robust nuclear growth plans, an important piece of US utility uranium supply is increasingly at risk. This scenario highlights an unquestionable opportunity for uranium producers in the US. “To that end, we will continue to advance both our near-term strategy, which 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 three licensed conventional mills in the U.S. and our longer-term production strategy, which includes the acquisition of complementary assets with potential to feed additional uranium and vanadium resource to our Shootaring Canyon mill. We believe that Marquez-Juan Tafoya will both complement our existing portfolio of assets and serve as part of our longer-term uranium production strategy.” As consideration for the acquisition of Neutron, the Company has issued 185,000,000 common shares (the “Consideration Shares”) to enCore and has agreed to pay C$5,000,000 in cash (the “Consideration Payment”). Pursuant to an agreement reached with enCore, C$4,000,000 of t...