VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V:AEC)
(OTCQB:ANLDF) (FRANKFURT:0AD) (“Anfield” or “the Company”) is pleased to announce that Stephen S. Lunsford
has agreed to join the Company’s Board of Directors. Mr. Lunsford has had an extensive career as a geologist in the uranium sector,
spanning four decades, with his vast experience generated through his time working with entities such as Cameco Resources, Inc.,
American Nuclear Corp. and Power Resources, Inc. (PRI). In addition, Mr. Lunsford was involved in a feasibility study completed by
PRI for Cotter with regard to Anfield’s recently-acquired Charlie project in Wyoming. Overall, Mr. Lunsford’s regional expertise
and uranium asset knowledge will be a significant asset to Anfield.
“We are excited to have someone of Mr. Lunsford’s calibre joining our board of directors,” commented Anfield’s CEO Corey Dias.
“His successful career spanning four decades in the uranium industry with well-known entities in the sector, such as Cameco and
PRI, is impressive, and his extensive knowledge of Wyoming uranium will prove to be a great value to the Company as we move our
projects forward. Moreover, his direct knowledge with regard to the Charlie project could allow Anfield to further streamline our
path to production.”
Mr. Lunsford began his career with American Nuclear Corp. in 1972 where he began as a field geologist supervising field drilling
programs for as many as seven drill rigs. He later became a project geologist where he organized and directed all aspects of
exploration drilling programs.
In 1987 Mr. Lunsford began work as a project geologist with Everest Minerals, which became PRI in 1989. In 1996 PRI was acquired
by Cameco Inc., and in 2008 PRI’s name was changed to Cameco Resources. During his time with Everest/PRI/Cameco, Mr. Lunsford
planned and implemented delineation and exploration drilling programs and mapped subsurface roll fronts by means of drill hole
geophysical logs. As project geologist he generated uranium reserve/resource evaluations, created and maintained drill hole
databases and planned and designed in-situ patterns. His responsibilities also included data collection and geology for generating
mine permit applications.
From 2000 to 2002 Mr. Lunsford served as the senior project geologist on PRI’s Smith Ranch-Highland Mine where he evaluated the
uranium reserve/resource estimation by geologic and geostatistical methods. He designed and evaluated uranium in-situ production
patterns, performed prospect evaluations, and created and/or supervised maintenance of the geophysical drill hole database. He also
managed production databases, tracked production and created monthly production reports.
In 2002 he became chief geologist for the Smith Ranch-Highland Mine where he evaluated uranium prospects and supervised uranium
IST mining efforts. As chief geologist he functioned as the qualified person (QP) for purposes of NI 43-101 reports.
From 2006 until his retirement in 2013, Mr. Lunsford served as senior evaluation geologist for PRI/Cameco Resources. In this
position he generated uranium prospects internally and evaluated prospects submitted from outside sources. During this period he
continued to serve as the QP on NI 43-101 reports for PRI/Cameco.
From 2013 to 2014 Mr. Lunsford was a consulting geologist to Tetra Tech and Anatolia Energy on the Temrezil Uranium project in
Turkey. His responsibilities included reserve/resource estimation to enable definition of mineral resource boundaries, and
assisting in preparation of a preliminary wellfield layout to support the development of a pre-feasibility study.
We also announce the resignation of Jim Rasmussen from the Anfield Board. We would like to thank Mr. Rasmussen for his
significant contributions to the Company over the years, and wish him all the best in his future endeavours.
About Anfield
Anfield is a uranium and vanadium 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 assets. Anfield is a publicly-traded
corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).
Anfield is focused on two production centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin Processing Agreement with Uranium One whereby 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, the Company can both buy and borrow uranium
from Uranium One in order to fulfill some or all of its sales contracts.
Anfield’s 24 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. Anfield’s two projects in Wyoming for which NI 43-101 resource reports have been
completed are Red Rim and Clarkson Hill.
The Charlie Project, acquired from Cotter Corporation is located in the Pumpkin Buttes Uranium District in Johnson County,
Wyoming. The Charlie Project consists of a 720-acre Wyoming State uranium lease which has been in development since 1969.
Arizona/Utah – Shootaring Canyon Mill
A key asset in Anfield’s 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. An NI 43-101 Preliminary Economic Assessment has been completed
for the Velvet-Wood Project. All conventional uranium assets are situated within a 125-mile radius of the Shootaring
Mill.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Anfield Energy, Inc.
Clive Mostert
Corporate Communications
780-920-5044
contact@anfieldenergy.com
www.anfieldenergy.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE
FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE
FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING
STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE
RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING
STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT”
OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE
RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY
REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED
WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE
COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S
EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE
MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO
UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY
BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO
ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE
INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
