Anfield Energy Demonstrates the Economic Viability of its Hub-And-Spoke Uranium and Vanadium Production Strategy Via Its Updated Preliminary Economic Assessment

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 (U3O8) and 6.4 million pounds of vanadium (V2O5) 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.