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

Highlights include:

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 vanadium project (“Slick Rock”) and six of the nine mines which comprise the West Slope complex (“West Slope Mines”). The technical report on the PEA titled, “The Shootaring Canyon Mill and Velvet-Wood and Slick Rock Uranium Projects, Preliminary Economic Assessment”, will be published on SEDAR+ within 45 days from the date of this news release. These eight projects, being Velvet-Wood, Slick Rock and the West Slope Mines, are located proximal to one another within the prolific Uravan Mineral Belt, and within close distance of the Company’s Shootaring Canyon Mill (“Shootaring”) which will act as a centralized mineral processing facility in the PEA. The PEA was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”).