Anfield Resources Issued State Mineral Leases in Utah; Pursuit of Near-Term Uranium Production to Complement Its Current Copper Production Continues
Anfield Resources Inc. (TSX VENTURE: ARY) ("Anfield" or "the Company") is pleased to report that it has been issued nine mineral leases on Utah State Trust Land. The leases cover a total of approximately 5,500 acres (2,225 hectares) located across three of the several uranium mining districts located in southeastern Utah. In addition, these leases lie within a 100-mile radius of the White Mesa Mill, the only currently active standard uranium mill in the United States. Utah has historically been one of the top Uranium producing states, with the majority of production coming from the uranium mining districts concentrated in the southeastern part of the state.
"We are pleased to have been issued these leases as they complement our recently acquired Uranium assets in Utah," stated Corey Dias, CEO of Anfield. "The Company now controls over 8,100 acres across several uranium mining districts. Within that acreage are a significant number of past-producing mines. This transaction advances our strategic objective of opportunistically acquiring undervalued assets to pursue near-term production and revenue generation via toll milling, a production strategy successfully followed at our Chilean copper asset. We continue to believe in the likelihood of a shortfall in uranium raw materials due to the combination of two factors: the number of nuclear reactors proposed, planned or under construction worldwide - which would more than double the current number of operating reactors - and the recent expiration of the 20-year HEU agreement between the US and Russia."
Below is a summary of the issued leases:
Henry Mountains District
Two of the leases cover past producing uranium workings in the Henry Mountains Mining District, Garfield County, Utah. The district as a whole produced an estimated 414,950 lbs U3O8 at an average grade of 0.24%.
Montezuma Canyon
Six of the leases are located in the Montezuma Canyon Area of the Monticello Mining District, three of which are prospective, and three of which include past-producing uranium workings. These leases are complementary to Anfield's previously-acquired eight claim groups consisting of 29 claims in this area. Total past production in this area is estimated at 88,000 lbs U3O8 and 775,000 lbs V2O5, with an average U3O8 grade of 0.24% and 0.31% V2O5.
Desert Area
One lease is located in the Desert Area of the Green River Mining District, Emery County, Utah. This lease is situated a few miles from Energy Fuels' San Rafael Uranium Project. Information regarding pounds of production of U3O8 for the District has not been forthcoming; however an estimated 600,000 tons of material has been mined from the District.
Production figures in this report are as reported in Uranium-Vanadium Occurrences of Utah, Utah Geological and Mineral Survey Report for the U.S. Bureau of Mines, Open-File Report 18 (1974). The presence of economic uranium mineralization in the Utah Districts is not necessarily indicative on economic uranium mineralization on the Anfield properties.
About Anfield Resources Inc.
Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V) and is engaged in mineral exploration, development and production in the United States and Chile. Its focus is on acquiring and developing an array of strategic mineral projects, including further developing its nascent copper production operation in Chile and its uranium assets in Utah and Arizona, and its longer-term focus on the development of its Arizona-based copper properties. To find out more about Anfield, visit its website at www.anfieldresources.com.
R. Tim Henneberry, P.Geo., Advisor to Anfield is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
ANFIELD RESOURCES 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. www.anfieldresources.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 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'S EXPLORATION EFFORTS WILL SUCCEED AND 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. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Contacts: Anfield Resources Inc. Corey Dias (604) 687-0300 www.anfieldresources.comSOURCE: Anfield Resources Inc.
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