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Anfield Energy to Acquire 175 Federal Unpatented Uranium Claims in Utah
VANCOUVER, British Columbia, Oct. 19, 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, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has entered into a definitive agreement with Nolan Holdings, Inc. (“the Seller”) to acquire a 100% interest in 175 federal unpatented uranium mining claims (“Claims”), located in San Juan and Grand Counties in Utah. Corey Dias, Anfield’s CEO commented: “We are pleased to acquire these uranium claims as we believe that they are complementary to our existing portfolio holdings in Utah. They are in close proximity to Anfield Energy’s Shootaring Canyon mill, which makes them ideally suited for future exploration and production. When combined with a favorable regulatory environment and low transportation costs, these claims are an ideal addition to Anfield’s portfolio. “We will continue to seek out prospective assets which fit into 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. We believe that these claims will both complement our existing portfolio of assets and serve as part of our longer-term uranium production strategy.” As consideration for the Claims and associated data, the Seller will receive US$85,000 in cash and 15,000,000 common shares (the “Consideration Shares”) of Anfield. Completion of the acquisition of the Claims, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day. No finders’ fees or commissions are owing by the Company in connection with the acquisition of the Claims. Qualified Persons Douglas L. Beahm, P.E., P.G., principal engineer at BRS Inc., is a Qualified Person as defined in NI 43-101 and has reviewed and approved th...