Anfield Resources Inc. Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / October 8, 2014 / Anfield Resources Inc. (TSX.V: ARY)(OTCQB: ANLDF)(FRANKFURT: 0AD)("Anfield" or "the Company") is pleased to provide a corporate update. Given that the Company has now operated under the Anfield banner for the past year, it is an ideal time to provide investors with a synopsis with regard to the Company's actions over this period and the potential future impact of these actions on Anfield.

Early pursuit of uranium assets in order to diversify our portfolio and establish market position

Since late 2013, Anfield has both redefined and reinvigorated its corporate strategy as the Company sought to target undervalued assets with near-term, cash-flow-generating potential. While Anfield clearly still sees a great deal of value in its copper assets - and has a tentative JV agreement in place with regard to its Binghampton Copper Queen project - the Company has also taken advantage of low commodity prices and lukewarm near-term investor sentiment with regard to the uranium sector. To this end, Anfield has executed its strategy via the pending acquisition of a number of uranium properties - many associated with past-producing mines - totalling over 17,500 acres in Utah, Arizona and Colorado to become one of the largest owners of uranium landholdings in the Southwestern US.

Impending transition to near term uranium producer via Uranium One conventional asset acquisition

Moreover, on August 14th, following months of negotiations, Anfield signed definitive agreements with Uranium One to acquire all of Uranium One's US conventional uranium assets for US$5 million, with payment to be settled over a period of four years via a combination of both cash and shares. Upon closing of this transaction, Anfield will be one of only a handful of near-term or currently-producing junior uranium entities. The acquisition would result in the following strategic advantages to Anfield:

• - Potential creation of one of the few uranium producers in the U.S.

• • - The Shootaring Canyon Mill is one of only three licensed, permitted and constructed uranium mills in the United States - reflecting both its scarcity value and potentially high barriers to entry in the sector - and is located within one of the historically most prolific uranium producing areas in the US.

• - The establishment of Anfield as one of the largest owners of uranium properties in the U.S.

  • - Increases Anfield's uranium asset acreage by more than 250% to reach approximately 65,000 acres (~26,507 hectares).

    - Adds a historic resource estimate of 6.8 million pounds in the combined properties.

    - The flagship resource, the Velvet-Wood Deposit, contains a historical resource estimate of 4.63 million pounds of measured and indicated U3O8 at an average grade of 0.285%, with past production recovering 4 million pounds at an average grade of 0.46% U3O8i.

  - The control over the production process from mining to production of yellowcake offers both operational synergies and capital efficiencies.

  - The ability to address the US uranium deficit.

The acquisition is subject to regulatory approval.

With both a mill and a significant initial resource, the Company's aim would be to achieve production by 2017. Assuming that the uranium price continues to trend positively, Anfield believes that it will be well positioned to benefit as production commences.

As part of the acquisition process, Anfield has submitted an application to the Utah Department of Radiation Control (UDRC) for the transfer of the Radioactive Materials License to Anfield. This License transfer is a crucial step in the process of restarting the Shootaring Canyon Mill. In addition, the Company has engaged engineering consulting firm BRS Inc. to prepare an updated NI 43-101 compliant mineral resource estimate and technical report with regard to the Velvet-Wood property.

The uranium market not without risk, but the future looks bright

According to the WNA, as of August 1st there were 435 operable nuclear reactors worldwide. However, there are also: 1) 72 nuclear reactors under construction; 2) 174 nuclear reactors planned; and 3) 299 reactors proposed. While uranium supply from both primary and secondary sources essentially meets current demand, the expected future demand related to those reactors in the construction pipeline may not be as easily met, especially given that the current uranium price does not incentivize additional production to come online.

With uncertainty in uranium supply tied to an ever-increasing tension between the West and Russia, questions are being asked as to the sustainability of current uranium supply from Eurasia - arguably the largest uranium-producing region worldwide - as geopolitical risk increases. Moreover, given the US's current uranium supply/demand imbalance - and its dependence on unstable markets for some, or a majority, of its supply - US-based utilities are likely to seek the security of domestic supply where they can. Finally, with Japan's impending plans to re-enter the nuclear power sphere and China's current nuclear reactor build-out, Anfield remains quite positive with regard to the uranium market's future prospects.

Marketing Anfield's story in North America and beyond

Anfield has made a concerted effort to penetrate new markets in order to increase its visibility in the international investment community. To this end, in May it listed on the OTCQB under the symbol ANLDF. Listing on a US stock exchange provides the Company access to a market significantly larger than its domestic market. Moreover, in early September Anfield was invited to present its story at the annual Rodman & Renshaw Global Investor Conference in New York City, an event which included a number of its uranium-producing peers. This provided Anfield with an opportunity to not only widen its investor audience in general but also engage with a significantly diverse group of investors in attendance. In addition, the Company recently listed on the Frankfurt Stock Exchange, which Anfield believes will open the door to a high-quality European investor pool. Finally, Anfield has conducted, and continues to conduct, non-deal corporate marketing throughout North America, with plans to expand its marketing footprint across the pond.

Corey Dias, CEO of Anfield, states, "We feel that Anfield is well positioned to take advantage of burgeoning demand for nuclear power. While there is significant work ahead, we remain on course to become one of the next uranium producers in the US. We expect to continue to add substantial value to the Company and, by extension, our shareholders, as we move closer to our goal".

About Anfield's Uranium Properties

Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy 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 acquisition and development of an array of strategic energy metals projects as summarized below:

Uranium
Upon the closing of the Shootaring Transaction, the key asset in Anfield's portfolio will be 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.

Upon the closing of the Shootaring Transaction, Anfield's uranium assets will include mining claims and state leases in southeastern Utah, Colorado, South Dakota and Arizona totalling nearly 65,500 acres (26,507 hectares), targeting areas where past uranium mining or prospecting occurred. Upon the closing of the Shootaring Transaction, Anfield's uranium assets will contain a historical measured and indicated U3O8 resource estimate of 6.8 million pounds and will lie within a 125-mile radius of the Shootaring Mill. The flagship resource asset will be the Velvet-Wood Deposit that contains a historical resource estimate of measured and indicated U3O8 at an average grade of 0.285%, and had past production of 4 million pounds of U3O8 at an average grade of 0.46%.

N.B.: Anfield is not treating the historical estimates referred to above as current mineral resources or mineral reserves. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The tonnages, grades and sources of the 6.8 million pound historic resources referred to above are as follows: Velvet 363,000 measured tons at 0.271% U3O8 for 1,966,000 pounds and 71,000 indicated tons at 0.384% U3O8 for 548,000 pounds (Velvet Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report dated 10-December-2008); Wood 377,000 indicated tons at 0.280% U3O8 for 2,113,000 pounds (Wood Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report dated 10-December-2008); and Frank M 1,095,000 indicated tons at 0.101% U3O8 for 2,210,000 pounds (Frank M Uranium Project, 43-101 Mineral Resource Report, Garfield County, Utah USA dated 10-June-2008). All reports were prepared by BRS, Inc.

Copper
The Binghampton Copper Queen (BCQ) project, located 17 miles (27 km) southeast of Prescott, Arizona, and within the Arizona VMS Belt, consists of 5,021 acres (2,032 hectares) of both patented and State land, with two past-producing mines on the property.

The North Star Copper Project, located less than 50 miles (80 km) northwest of Tucson, consisting of 200 mining claims covering approximately 4,000 acres (1,619 hectares), targets relatively shallow oxide copper at the historic North Star site in the heart of copper country in southern Arizona.

The Aura Project, a nascent copper operation in Atacama, Chile, is located 20 miles (32 km) east of Copiapo and consists of eight mining concessions totalling over 2,800 acres (1,133 hectares) in one of the foremost copper producing regions in the world.

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.

Contact:
Anfield Resources Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com

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 ANNOUNCED TRANSACTIONS WILL BE COMPLETED, THAT 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.

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i source - Utah Geological & Mineral Survey, OFR 188, July 1990, p.38, 62 

SOURCE: Anfield Resources Inc.