NEW YORK, April 5, 2018 /PRNewswire/ --
Nuclear power plays a key role in generation of electricity around the world. The demand for more clean energy is accelerating
and developing markets such as China and India are in need of
stronger electrical infrastructure. A research report by the World Nuclear Association specifies that Mainland China has 36
nuclear power reactors in operation, 21 under construction, and more about to start construction. The upcoming reactors are
expected to be the world's most advanced, designed to double nuclear capacity to at least 58 GWe by 2020-21, then up to 150 GWe
by 2030, and much more by 2050. The high growth of nuclear power in China is largely due to air
pollution from coal-fired plants. Anfield Energy Inc. (OTC: ANLDF), Denison Mines Corp. (NYSE: DNN), Uranium Energy Corp (NYSE:
UEC), Energy Fuels Inc. (NYSE: UUUU), Ur-Energy Inc. (NYSE: URG)
Nuclear power also layers a significant role in the United States. The World Nuclear
Association indicates that the USA is the world's largest producer of nuclear power, accounting
for more than 30% of worldwide nuclear generation of electricity. Following a 30-year period in which a few new reactors were
built, it is expected that four more new units will come online by 2021. As a result, the uranium market is once again in the
spotlight. Nuclear reactors use enriched uranium as fuel.
Anfield Energy Inc. (OTCQB: ANLDF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: AEC). Earlier
today the company announced the, "receipt of an NI 43-101 compliant mineral resource technical report for the Nine Mile Lake
uranium project, entitled "Nine Mile Lake Uranium Project, Mineral Resource NI 43-101 Technical Report, Natrona County, Wyoming, USA" with effective date March 29, 2017 (the "Nine
Mile Report"). Further to Anfield's news release of March 21,
2017, the Nine Mile Report is the third in a series of NI 43-101 technical reports related to Anfield's 25 Wyoming uranium projects. The report was completed by BRS, Inc., a consulting and engineering
firm with nearly 40 years of experience assessing Wyoming uranium projects. The resource
estimate includes:
- an Indicated Resource of 2,108,000 tons of mineralized material with an average grade of 0.059% (equivalent to an Indicated
Resource of 2,504,000 pounds of U3O8); and
- an Inferred Resource of 1,297,000 tons of mineralized material with an average grade of 0.070% (equivalent to an Inferred
Resource of 1,804,000 pounds of U3O8).
Corey Dias, Anfield's CEO stated, "We are very pleased to
announce the receipt of this resource report. Since acquiring 24 Wyoming uranium projects from Uranium One in 2016, we have
committed to updating and confirming resources held on those properties. This report is the third to have been completed,
and there remains a significant opportunity to delineate further uranium resources on the remaining 21 projects. Moreover, with
the Charlie project resource report expected to be completed within the next 60 days, we expect to see continued significant
growth in our uranium resource base. Finally, Anfield remains on course to deliver on its
strategy of creating a viable uranium production complex in Wyoming as it looks to pair its
resource base with the Resin Processing Agreement it has in place with Uranium One whereby it can process up to 500,000 pounds of
uranium per year at Uranium One's Irigaray Central Processing Plant."
The Nine Mile Lake project comprises approximately 6,619 acres of Anfield's mineral rights
including mining claims and mineral leases. and includes 190 unpatented mining lode claims, 1,280 acres of State mineral leases
and 1,538.6 acres of private mineral leases. The data used in the report consists of radiometric-equivalent data (eU3O8) for
1,100 drill holes; drill intercept data from 26 core holes and 238 rotary drill holes were utilized, along with drill intercepts,
chemical assay certificates and both lithological and geophysical logs.
To the best of our knowledge there are no other legal or environmental matters that could materially affect the potential
development of these resources. Radiometric equilibrium was assumed, and is considered reasonable with respect to mineral
resources as the mineralization is well below the ground water table and not subject to surficial oxidation. A unit weight of 125
pounds per cubic foot or 16 cubic feet per ton was assumed, based on the report Author's experience working in operating mines
within similar tertiary sandstone uranium deposits where reserve estimates were routinely compared to actual production.
Indicated mineral resources were estimated using the GT contour method which is considered appropriate for this type of
deposit. The GT was determined for each drill hole, by major stratigraphic horizon, and the GT was summed for all intercepts
meeting the cut-off criteria by horizon for each hole. Inferred mineral resources were estimated for those areas where location
of the REDOX front was known based on past drilling but the available data was not sufficient to estimate Indicated Mineral
Resources.
Denison Mines Corp. (NYSE: DNN) is a uranium exploration and development company with interests focused in the
Athabasca Basin region of northern Saskatchewan, Canada. On
March 27th, the company announced an increase in the mineral resources estimated for the Midwest
Project, located in the eastern Athabasca Basin, northern Saskatchewan, Canada. Dale Verran, Vice President Exploration, commented,
"This updated and independently audited mineral resource estimate for Midwest is supported by an upgraded project database,
vastly improved 3D models and industry best-practice estimation procedures for high-grade Athabasca uranium deposits. With the application of more rigorous and robust estimation procedures, in
accordance with NI 43-101, we are pleased to see a significant increase in overall project resources, without additional recent
drilling. These resources add to Denison's growing inventory of high-gradeuranium resources concentrated in the infrastructure
rich eastern portion of the Athabasca Basin. We would like to compliment Orano on the work done
to start readying the project resources for future development."
Uranium Energy Corp (NYSE: UEC) is a U.S.-based uranium mining and exploration company. Earlier in August the
company announced that, further to its news release dated May 9, 2017, the Company has completed
its acquisition of the fully permitted Reno Creek in-situ recovery project located in the Powder River Basin, Wyoming ("Reno Creek" or the "Project"). Amir Adnani, President & CEO, stated: "We are very
pleased to have completed an acquisition of this scale on an advanced, fully permitted, low cost ISR project in the prolific
Powder River Basin of Wyoming. We will continue to advance and
optimize the Project in order to position it for turn-key development once the uranium market signals a recovery. Reno Creek is
an exceptional addition to the UEC uranium mining portfolio near the bottom of the cycle."
Energy Fuels Inc. (NYSE: UUUU), a leading producer of uranium in the United States, is
pleased to announce that it has received approval from the U.S. Bureau of Land Management ("BLM") and U.S. Forest Service ("USFS") for the expansion of its 100%-owned La Sal Complex of uranium/vanadium mines.
Mark S. Chalmers, President and CEO of Energy Fuels, stated: "We are pleased that the BLM and USFS issued approvals for
expansion of this project following a comprehensive multi-year analysis. This is particularly important, as the mines and
properties comprising the La Sal Complex contain large quantities of uranium resources, along with significant high-grade
vanadium resources. We have recently seen vanadium prices increase significantly, and our nearby White Mesa Mill has a long
history of producing uranium and vanadium from these mines. The Environmental Assessment prepared for the expansion of this
project thoroughly considered all aspects of proposed operations, including environmental protection, transportation, cultural
issues, jobs, economic benefits, and environmental justice concerns. This project is fully-permitted and constructed, and is
currently on standby status, ready to resume mining operations within approximately six months of a production decision, with
minimal capital required. We believe these approvals once again demonstrate that Energy Fuels is a responsible operator and an
asset to the region. We also acknowledge and appreciate the hard work and professionalism of the BLM and USFS staff involved in
the preparation of this EA. We are the largest private employer in San Juan County, Utah,
including a major employer of Native Americans, and these approvals set the stage for our Company to grow in the region in the
future."
Ur-Energy Inc. (NYSE: URG) is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in
south-central Wyoming. Earlier in January, the company provided operational results for fourth quarter 2017. In 2017,
uranium sales totaled $38.3 million from 780,000 pounds sold. Our overall price per pound sold
averaged $49.09. There were no spot sales during the year. A total of 261,000 pounds were sold from
Lost Creek production. Additionally, we delivered 519,000 purchased pounds into contractual obligations. Purchases for these
deliveries averaged $21.35 per pound.
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