Anfield Resources Reports Positive Preliminary Economic Assessment on Velvet-Wood Uranium Project in Utah

Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced it has released the results of its preliminary economic assessment with regard to the Velvet-Wood uranium project. The independent PEA was prepared in accordance with National Instrument 43-101 standards of disclosure for mineral properties. Velvet-Wood, as discussed herein, consists of two mine areas, located in Lisbon Valley, Utah and the Shootaring Canyon Uranium Mill, located in Ticaboo, Utah.
As quoted in the press release:

Highlights include:

• Using a vat leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (“IRR”) of 41% and a Net Present Value (“NPV”) of US$63.0 million, based on a discount rate of 8% and a uranium price of US$65 per pound.
• Using a heap leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (“IRR”) of 37% and a Net Present Value (“NPV”) of US$53.5 million, based on a discount rate of 8% and a uranium price of US$65 per pound.
• Under both scenarios, average production would be approximately 663,000 pounds per annum, for total production of 4.6 million pounds over a seven-year mine life.
• Under both scenarios, total project capex is estimated at approximately US$46 million.
• Direct operating costs of $10.75 per pound of uranium via vat leach and $11.39 via heap leach have been estimated.

Using a vat leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (“IRR”) of 41% and a Net Present Value (“NPV”) of US$63.0 million, based on a discount rate of 8% and a uranium price of US$65 per pound. — Using a heap leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (“IRR”) of 37% and a Net Present Value (“NPV”) of US$53.5 million, based on a discount rate of 8% and a uranium price of US$65 per pound. — Under both scenarios, average production would be approximately 663,000 pounds per annum, for total production of 4.6 million pounds over a seven-year mine life. — Under both scenarios, total project capex is estimated at approximately US$46 million. — Direct operating costs of $10.75 per pound of uranium via vat leach and $11.39 via heap leach have been estimated.

Anfield Resources CEO, Corey Dias, stated:

Anfield continues to add shareholder value to its undervalued story. In the past eighteen months, we completed an NI 43-101 mineral resource estimate for the Velvet-Wood mine. The Velvet-Wood Mine, located in Lisbon Valley, Utah, includes one of the most advanced conventional uranium deposits in the U.S. The past-producing, licensed and permitted Velvet deposit and the Wood deposit both boast rich uranium resources and have significant exploration upside.
Today, we are extremely satisfied with the outcome of this preliminary economic assessment as it provides Anfield with evidence of the true potential of Velvet-Wood. Since our acquisition of Uranium
One’s conventional uranium assets, we have been keen to highlight the economic value of this mine and mill combination. This PEA not only represents a significant milestone for Anfield but also outlines a path towards commercial development of Velvet-Wood. Anfield is clearly well-positioned to benefit from an improving uranium market

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