Anfield Energy updates preliminary economic assessment for uranium-vanadium hub

Highlights include: The updated PEA indicates a pre-tax project internal rate of return (“IRR”) of 106% and a net present value (“NPV”) of US$606 million (with a post-tax IRR of 97% and NPV of $533 million), based on a discount rate of 8% and a uranium price of US$100 per pound, along with a vanadium price of US$9 per pound, with an expected mine and mill capex payback period of 1.3 years . Average annual production of approximately 1.3 million pounds of uranium (U 3 O 8 ) and 6.4 million pounds of vanadium (V 2 O 5 ) per year is estimated over the 15-year mine life, including a peak production year of 1.9 million pounds of uranium and 7.8 million pounds of vanadium. The combined feed of the Velvet-Wood, Slick Rock and the West Slope Mines is designed to meet the increased tonnage capacity at Shootaring of 1,000 tons per day.

Estimated mill-related capital expenditures at Shootaring, including 20% contingency amount for each item, of: (1) US$31.1 million for general upgrades; (2) US$34.6 million to install a modern vanadium circuit; and (3) US$14.4 million to update the tailings management facility, for a total of US$80.1 million. Estimated mine-related capital expenditures, including: (1) engineering and design; (2) mine facilities; (3) mine equipment; (4) the reopening of the decline at Velvet and the sinking of a production shaft at Wood; and (5) the sinking of two production shafts at Slick Rock, with a 10% contingency, of a combined total of US$37.5 million, partially offset by expected cash flow of approximately $23.2 million related to initial uranium production from Anfield’s stockpiled material. VANCOUVER, British Columbia, May 04, 2026 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (NASDAQ: AEC; TSX.V: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to report the results of a combined preliminary economic assessment (“PEA”) for both its Utah-based Velvet-Wood uranium and vanadium project (“Velvet-Wood”), its Colorado-based Slick Rock uranium and vana