Anfield Resources Inc. Closes Transaction with Energy Fuels Inc.
Vancouver, British Columbia / TheNewswire / November 5, 2015 -- Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF)(FRANKFURT: 0AD)("Anfield" or "the Company") is pleased to announce that it has closed a transaction with a subsidiary of Energy Fuels Inc. (TSX:EFR)(NYSE MKT:UUUU) ("Energy Fuels") to sell Anfield's 50% interest in the Wate breccia pipe to Energy Fuels in a cash and stock transaction valued at US$1.1 million.
Corey Dias, Anfield's CEO stated, "Given how recently we closed the acquisition of Uranium One's U.S. conventional uranium assets, we are satisfied to have come to terms with Energy Fuels to sell our interest in the Wate breccia pipe. Moreover, given that Wate is a non-core uranium asset for Anfield, and that Energy Fuels has significant expertise in mining this type of deposit, we view this as a win-win transaction. We will continue to focus on our development of the Velvet-Wood mine and the Shootaring Canyon mill, the key assets at the heart of our Uranium One transaction".
Anfield will receive 50% of the US$1.1 million at Closing, with this initial payment equally divided between cash and stock. The second payment of US$550,000 will be made upon the achievement of certain milestones related to the Wate project and will also be evenly divided between cash and stock.
About Anfield's Properties
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 (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on the development of projects, as summarized below:
Uranium
On August 31st, Anfield announced that it had completed the acquisition Uranium One's US conventional uranium assets. A key asset acquired 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 uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, South Dakota and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield's uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All assets are situated within a 125-mile radius of the Shootaring Mill.
On behalf of the Board of Directors
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 Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
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