VANCOUVER, BC --(Marketwired - November 21, 2017) - Anfield Resources
Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) ("Anfield" or "the Company") announces that it is placing increased emphasis
on the vanadium potential of its Velvet-Wood Mine, located in Utah. Anfield has engaged BRS Engineering, Inc. to update Anfield's
NI 43-101 resource report related to the Velvet-Wood Mine to include a vanadium exploration target. The report is expected to be
completed within six to eight weeks.
Anfield's prospective energy partners have shown a greater interest in the Company's vanadium assets due to the significant
upturn in the vanadium price this year. Anfield is also exploring the feasibility of including a vanadium circuit on its
Shootaring Canyon uranium mill, which would allow it to process vanadium.
Velvet-Wood Mine
Based upon historical production, the Velvet-Wood Mine has the potential to be a significant source of vanadium. Between 1979
and 1984, Atlas Minerals mined approximately 400,000 tons of ore from the Velvet Deposit at grades of 0.46%
U3O8 and 0.64% V2O5, recovering approximately 4 million pounds of
U3O8 and 5 million pounds of V2O5.
The current mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of
U3O8 at a grade of0.29% U3O8 (measured and indicated resource) and 552,000 pounds of
U3O8 at a grade of 0.32% U3O8 (inferred resource). (Source:
Velvet-Wood Mine Uranium Project, San Juan County, Utah USA NI 43-101 Mineral Reserve and Resource Report,
Author : BRS Inc.; Date: 11/14/2014).
Corey Dias, Anfield's CEO stated, "Vanadium is increasingly being embraced by battery manufacturers as a core material in the
production of batteries to be used in both small-scale and large-scale applications; in fact, vanadium redox-flow batteries
(VFBs) have started to grow in influence as energy companies look to improve energy storage. This ranges from grid-scale uses,
such as Prudent Technology's use of a VFB for its solar installation in Italy, to smaller-scale uses such as Warren Buffett's BYD
company using vanadium batteries for its electric vehicles and Subaru using a VFB to power its Subaru G4e vehicle. Vanadium is
clearly viewed as an attractive alternative to other battery technology sources. Anfield is fortunate in having two energy metal
resources together, both with highly positive demand projections: uranium and vanadium."
Vanadium - an important commodity in a strategic location
85% of current vanadium production comes from three countries: China, Russia and South Africa. With increasing geopolitical
trade uncertainty, it is clearly an advantage to have a domestic U.S. supply source for a strategic material driving an important
new technology. Vanadium has traditionally been used to strengthen steel; however, its recent resurgence has come about due to
its large-scale energy storage potential. VFBs have the ability to store mass energy, which potentially strengthens grid
stability and the case for electric vehicles, and renewable energy.
Technical advances are driving flow battery technology closer to mass commercialization. In Dalian, China, there are plans to
create a 200MW - 800MWh storage station, the largest VFB installation in the world. Since 2014, more than 30 VFB installations
have either been deployed or are currently under construction. In addition, the use of VFBs in vehicles has the potential to
improve upon lithium-ion batteries by increasing the voltage and energy density metrics. With all the developing needs and uses
for advanced battery technology, industry spending on energy storage is expected to reach US$200 billion in 2020 alone --
providing attractive marketing opportunities for Anfield.
About BRS
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular
note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and
reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open
pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project
financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project
in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and
Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, has approved the scientific and technical disclosure in the news
release. He is a Qualified Person as defined in NI 43-101 with 40 years of professional and managerial experience. Mr. Beahm has
a proven track record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach
recovery, ISR, and uranium mill tailings projects. Mr. Beahm's experience includes coal, precious metals, and industrial
minerals, but his emphasis throughout his career has been on uranium.
About Anfield
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier
energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets. Anfield is a
publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock
Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Utah - Shootaring Canyon Mill
A key asset in Anfield's existing portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill
is strategically located within one of the historically most prolific uranium production areas in the United States, and is one
of only three licensed uranium mills in the United States.
Anfield's conventional uranium assets consist of mining claims and state leases in southeastern Utah, and Arizona, targeting
areas where past uranium mining or prospecting occurred. Anfield's conventional uranium assets include the Velvet-Wood Project,
the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a
125-mile radius of the Shootaring Mill.
Wyoming - Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has also signed a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per
annum of its mined material at Uranium One's Irigaray processing plant in Wyoming. In addition, should Anfield sign uranium sales
contracts, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its contracts.
Anfield's ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley
Basin and Wind River Basin areas in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
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