Anfield Energy (TSXV:AEC) validates uranium and vanadium projects

• Anfield Energy (AEC) has released a preliminary economic assessment for its Velvet-Wood and Slick Rock projects in Utah and Colorado
• The assessment indicates a pre-tax project internal rate of return of 40 per cent and a net present value of US$238 million
• Average annual production will be around 750,000 pounds of uranium and 2.5 million pounds of vanadium over a 15-year mine life
• CEO Corey Dias spoke with Shoran Devi about the news
• Anfield Energy is a uranium and vanadium development and near-term production company
• Anfield Energy (AEC) opened unchanged trading at $0.06 per share

Anfield Energy (AEC) has issued a PEA for its Velvet-Wood and Slick Rock projects in Utah and Colorado.

The combined NI 43-101 PEA for the projects indicates:

• A pre-tax project internal rate of return of 40 per cent and a net present value of US$238 million
• Average annual production will be around 750,000 pounds of uranium and 2.5 million pounds of vanadium over a 15-year mine life

The two projects are within close distance of Anfield’s 750 ton/day Shootaring Canyon Mill, the centralized mineral processing facility in the PEA:

• Estimated mill-related capital expenditures at Shootaring, including a 25 per cent contingency amount for each item, are: 1) US$31.4 million for general upgrades, 2) US$13.4 million to install a modern vanadium circuit, and 3) US$20 million to update the tailings management facility
• Estimated mine-related capital expenditures, including a 25 per cent contingency, are: 1) US$15.3 million for Velvet-Wood, and 2) US$27.2 million for Slick Rock
• Pre-production capital over two years is estimated at US$112 million
• Total capital over the life of mine is estimated at US$130 million, including sustaining capital

The current mineral resources (2023) of Velvet-Wood are comprised of 4.6 million pounds of eU3O8 at 0.29 per cent (measured and indicated), and 552,000 pounds of eU3O8 at 0.32 per cent (inferred resource), with a vanadium-to-uranium ratio of 1.4 to 1.

The current PEA (2023) for Slick Rock estimates 1.7 million tons containing 7.7 million pounds eU3O8 with a vanadium-to-uranium ratio of 6 to 1.

The PEA also includes Anfield-controlled mineralized stockpiles located near the Shootaring Mill, which are estimated to contain 77,500 tons averaging 0.161 per cent U3O8 for 250,000 pounds of uranium.

CEO Corey Dias spoke with Shoran Devi about the news.

Anfield Energy is a uranium and vanadium development and near-term production company.

Anfield Energy (AEC) opened unchanged trading at $0.06 per share.

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