Anfield Energy Inc. announced that BRS Engineering (BRS) has begun a Preliminary Economic Assessment (PEA) for the Company's Slick Rock uranium and vanadium project (Slick Rock). Slick Rock is located in the prolific Uravan region of Colorado, in close proximity to Anfield's West Slope uranium and vanadium project. The property holds a historical inferred resource of 2.5 million tons at 0.228% uranium and 1.37% vanadium, returning 11.6 million pounds of uranium and 69.6 million pounds of vanadium and, between 1957 and 1983, Slick Rock produced 2.2 million pounds of uranium and 13.9 million pounds of vanadium.

Finally, in 2014 Uranium Energy Corporation ("UEC"), the previous owner of Slick Rock, issued a PEA which stated a pre-tax project Internal Rate of Return (IRR) of 33% and a Net Present Value of USD 63.5 million, based on a discount rate of 7% and a uranium price of USD 60 per pound, along with a vanadium price of USD 10 per pound. The mineral resource estimates and PEA cited above are based on data and reported prepared by the previous operator of the project. Anfield is treating these reported as historic in nature.

Work necessary to independently verify the classification of the mineral resource estimates and the PEA in accordance with National Instrument 43-101, verified by a qualified person, and in compliance with CIM standards has not been completed. This historical estimate and PEA should not be relied upon. Slick Rock is located in a well-known uranium mining region in Colorado, within the historic Uravan Mineral Belt and at the intersection of two major mineral trends.

Uranium and vanadium were produced historically at the Burro Mine within the Slick Rock property package between 1957 and 1983, and future exploration targets continue to focus on the down-dip extensions of the Burro and Sunday-Carnation mineral trends. The property was the subject of a preliminary economic assessment in 2014.