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Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) ("Anfield" or the "Company"), applauds the U.S. Geological Survey's (USGS) finalization of the 2025 List of Critical Minerals, which reinstates uranium as a critical mineral essential for national security, energy independence, and economic resilience.
This landmark decision, announced on November 6, 2025, and aligned with Executive Order 14154 ("Unleashing American Energy"), expands the list from 50 to 60 minerals and recognizes uranium's vital role in powering commercial nuclear reactors, fueling U.S. Navy submarines, and supporting defense applications. As the United States imports over 95% of its uranium—much of it from foreign adversaries—the designation addresses a critical supply chain vulnerability and positions domestic sources like Anfield to lead the nuclear renaissance.
The timing of this addition could not be more auspicious, coinciding with Anfield's successful groundbreaking ceremony at the Velvet-Wood Uranium-Vanadium Mine in San Juan County, Utah, held on November 6, 2025. Attended by key stakeholders and featuring the symbolic first dig, the event marked the official launch of construction activities—including mine reopening, dewatering, and development—following expedited federal and state approvals. This milestone, just weeks after Utah's final construction permit approval, sets the stage for potential first production in 2026 and underscores the alignment between policy advancements and on-the-ground progress in revitalizing America's domestic uranium supply chain.
"This is a transformative moment for both American energy security and Anfield," said Corey Dias, Anfield CEO. "With uranium now officially classified as a critical mineral, our advanced-stage projects located in both Utah and Colorado potentially stand to benefit from expedited permitting, targeted federal investments, and enhanced market access. We've now broken ground at our Velvet-Wood mine, and this policy shift will supercharge our path to near-term production, delivering clean, reliable nuclear fuel to the grid while reducing reliance on overseas suppliers."
Jeff Duncan, Anfield Director and former U.S. Representative (R-SC), added: "As someone who championed energy independence and nuclear power during my time in Congress, I'm proud to see this Administration take decisive action to secure America's uranium supply. Designating uranium as a critical mineral is a national security imperative—it powers our reactors, strengthens our defense, and creates high-paying American jobs. Anfield is at the forefront of this effort, and with federal support now aligned behind domestic production, we're poised to bring critical assets online faster than ever."
Key Benefits to Anfield Energy
The critical minerals designation unlocks a suite of federal incentives and streamlined processes under the Energy Act of 2020, Bipartisan Infrastructure Law, and Inflation Reduction Act, directly supporting Anfield's hub-and-spoke model centered on its Shootaring Canyon Mill—one of only three conventional uranium mills located in the U.S. Specific advantages include:
- Accelerated Permitting and Project Advancement: Anfield's flagship Velvet-Wood Uranium-Vanadium Mine in southeastern Utah, approved for fast-tracked development earlier this year, and having just completed its groundbreaking on November 6, 2025. The designation prioritizes uranium projects for reduced regulatory timelines, enabling construction and production to commence in 2026—potentially ahead of schedule—and facilitating restarts at nearby assets like Slick Rock and the JD-8 Mine, both located in Colorado.
- Access to Federal Funding and Investments: Eligibility for billions in grants, loans, and tax credits through programs like the Defense Production Act and Industrial Base Analysis and Sustainment Program. This includes support for mine development, processing infrastructure, and resource recovery, bolstering Anfield's existing resources at Velvet-Wood alone.
- Enhanced Economic and Market Competitiveness: Tax incentives for domestic processing and potential Section 232 tariffs on imports will level the playing field against foreign competitors. With vanadium already a critical mineral, Anfield's dual-commodity projects offer diversified revenue streams, including premiums for strategic materials used in aerospace and defense alloys.
- Strategic Positioning for National Goals: Anfield's 20+ uranium assets across the Western U.S. align with the push for onshoring supply chains, supporting carbon-free nuclear power to meet rising electricity demands from AI data centers and electrification. By leveraging existing infrastructure and low-impact underground mining, the Company minimizes environmental footprints while maximizing contributions to energy security.
Anfield is uniquely positioned as one of the few U.S.-focused uranium developers with a permitted mill, enabling a "hub-and-spoke" strategy to process materials from multiple nearby mines efficiently. This designation not only de-risks our operations but also attracts both private and public capital to scale production rapidly.
Velvet-Wood Uranium-Vanadium Mine Production Decision
The Company notes that its decision to advance development of the Velvet-Wood Uranium-Vanadium Mine is not based on a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there is additional uncertainty and risk related to the economics and viability of development.
About Anfield
Anfield is a uranium and vanadium development 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 NASDAQ (AEC-Q), the TSX-Venture Exchange (AEC-V) and the Frankfurt Stock Exchange (0AD).
On behalf of the Board of Directors
Anfield Energy Inc.
Corey Dias, Chief Executive Officer
Neither the 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.
Corporate Communications
604-669-5762
contact@anfieldenergy.com
www.anfieldenergy.com
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