VANCOUVER, BRITISH COLUMBIA / TheNewswire / September 14, 2016 -- Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) is pleased to announce that it has closed a transaction with Uranium One Americas Inc. ("Uranium One") for the transfer of 24 uranium mining properties in Wyoming, comprising 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases (the "Properties") in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas.
As a part of the acquisition Anfield has acquired a database of drilling and geologic work done by Uranium One that includes 575 drill holes totaling approximately 395,000 feet of drilling. In addition to the Uranium One database, Anfield has also acquired an historic database of geological information pertaining to the acquired projects and of surrounding properties. The historic information contains historic resource estimates that identify significant potential for further development. The Company is carefully analyzing the current and historic data to identify and prioritize the data to generate NI 43-101 technical reports for new projects.
As a key part of the transaction, Anfield has also agreed in principle on the final terms of 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.
Corey Dias, Anfield's CEO stated, "We are delighted to announce the closing of this transaction. With this transfer of mineral leases and claims, we have taken another major step toward developing a balanced portfolio of near and long-term uranium production assets. In addition, many of these leases and claims are in areas of Wyoming in which a number of uranium producers have already established ISR production bases. Finally, the successful completion of a Resin Processing Agreement with Uranium One would allow Anfield to reduce certain capital costs, expedite the permitting process and facilitate entering into production. We are increasingly optimistic about both the domestic and global uranium markets and our timing for entering the uranium market. This transaction represents our commitment to executing Company strategy and becoming a top-tier U.S. uranium company."
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