File: Attachment 4-2-2024 AEC NR - Acquisition of DOE Leases.pdf

Head Office: 4390 Grange Street, Suite 2005

Burnaby, B.C. V5H 1P6

www.anfieldenergy.com Office: 604.669.5762 Fax: 604.608.4804

Anfield Provides Update on Acquisition of Additional DOE Leases in Colorado

VANCOUVER, British Columbia, April 2, 2025 Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) ("Anfield" or the "Company") announces that it is finalizing the acquisition (the "Acquisition") of twelve Department of Energy leases (the "DoE Leases") located in various counties in Colorado, along with any associated data. The Acquisition is being completed pursuant to an asset transfer agreement (the "Transfer Agreement") previously entered into by Highbury Resources, Inc., a wholly-owned subsidiary of the Company, and Gold Eagle Mining Inc. and Golden Eagle Uranium LLC (collectively, the "Vendors"), and which was subsequently amended.

Pursuant to the amended Transfer Agreement, the Company's consideration for the Acquisition consists of the following share issuance and payments:

dot US$400,000 in cash (paid), and 12,729,464 common shares (the "Consideration Shares") of the Company, the Consideration Shares representing a value of US$1,250,000 based upon a deemed price of C$0.14 per Consideration Share and a deemed exchange rate of US$1.00 to C$1.4257;

dot US$750,000 in cash at the one-year anniversary of closing, with an option to extend by two subsequent ninety-day periods;

dot US$1,000,000 in cash at the two-year anniversary of closing;

dot US$1,000,000 in cash at the three-year anniversary of closing; and

dot US$1,500,000 in cash at the four-year anniversary of closing.

As stated in the Company's news release of January 3, 2024, the acquisition meets Anfield's strategic objective of securing additional uranium and vanadium prospects as the Company prepares for an increase in production capacity throughput at Shootaring to 1,000 tons per day from 750 tons per day as part of its mill restart plan. Crucially, it provides Anfield with control over 21 of the 31 DOE leases in existence in Colorado, further strengthening the Company's long-term strategic production position in the State.

For further information concerning the DoE Leases, readers are encouraged to review the news release issued by the Company on January 3, 2024.

The Company is at arms-length from the Vendors. Completion of the Acquisition, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. No finders' fees or commissions are payable by the Company in connection with the Acquisition. About Anfield

Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).

On behalf of the Board of Directors

ANFIELD ENERGY INC. Corey Dias, Chief Executive Officer

Contact:

Anfield Energy Inc. Corey Dias, Chief Executive Officer

Corporate Communications 604-699-5762 contact@anfieldenergy.com www.anfieldenergy.com

Neither the 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 news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated completion of the Consolidation and the pursuit of a listing on a US stock exchange.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will receive shareholder approval for the Consolidation; that the Company will receive regulatory approval for the Consolidation; and that the Company will be able to pursue a listing on a US stock exchange. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Company may not use the proceeds of the Equity Financing as currently anticipated; that the Company may not receive regulatory approval with respect to the Equity Financing; the risk that the Company may not have the resources, or may otherwise be unable to pursue a listing on a US stock exchange; risks relating to the actual results of the Company's operational activities, fluctuating commodity prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. We seek safe harbor.

File: '\\swfile\EmailIn\20250402 164329 Attachment 4-2-2024 AEC NR - Acquisition of DOE Leases.docx'

LEGAL*67907825.2

Head Office: 4390 Grange Street, Suite 2005 Burnaby, B.C. V5H 1P6

www.anfieldenergy.com Office: 604.669.5762

Fax: 604.608.4804

Anfield Provides Update on Acquisition of Additional DOE Leases in Colorado

VANCOUVER, British Columbia, April 2, 2025 - Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) ("Anfield" or the "Company") announces that it is finalizing the acquisition (the "Acquisition") of twelve Department of Energy leases (the "DoE Leases") located in various counties in Colorado, along with any associated data. The Acquisition is being completed pursuant to an asset transfer agreement (the "Transfer Agreement") previously entered into by Highbury Resources, Inc., a wholly-owned subsidiary of the Company, and Gold Eagle Mining Inc. and Golden Eagle Uranium LLC (collectively, the "Vendors"), and which was subsequently amended.

Pursuant to the amended Transfer Agreement, the Company's consideration for the Acquisition consists of the following share issuance and payments:

US$400,000 in cash (paid), and 12,729,464 common shares (the "Consideration Shares") of the Company, the Consideration Shares representing a value of US$1,250,000 based upon a deemed price of C$0.14 per Consideration Share and a deemed exchange rate of US$1.00 to C$1.4257;

US$750,000 in cash at the one-year anniversary of closing, with an option to extend by two subsequent ninety-day periods;

US$1,000,000 in cash at the two-year anniversary of closing;

US$1,000,000 in cash at the three-year anniversary of closing; and

US$1,500,000 in cash at the four-year anniversary of closing.

As stated in the Company's news release of January 3, 2024, the acquisition meets Anfield's strategic objective of securing additional uranium and vanadium prospects as the Company prepares for an increase in production capacity throughput at Shootaring to 1,000 tons per day from 750 tons per day as part of its mill restart plan. Crucially, it provides Anfield with control over 21 of the 31 DOE leases in existence in Colorado, further strengthening the Company's long-term strategic production position in the State.

For further information concerning the DoE Leases, readers are encouraged to review the news release issued by the Company on January 3, 2024.

The Company is at arms-length from the Vendors. Completion of the Acquisition, and the issuance of the Consideration Shares, remains subject to the approval of the TSX Venture Exchange. Following issuance, the Consideration Shares will be subject to statutory restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. No finders' fees or commissions are payable by the Company in connection with the Acquisition.

About Anfield

Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).

On behalf of the Board of Directors

ANFIELD ENERGY INC.

Corey Dias, Chief Executive Officer

Contact:

Anfield Energy Inc.

Corey Dias, Chief Executive Officer

Corporate Communications

604-699-5762

contact@anfieldenergy.com

www.anfieldenergy.com

Neither the 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 news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated completion of the Consolidation and the pursuit of a listing on a US stock exchange.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will receive shareholder approval for the Consolidation; that the Company will receive regulatory approval for the Consolidation; and that the Company will be able to pursue a listing on a US stock exchange. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Company may not use the proceeds of the Equity Financing as currently anticipated; that the Company may not receive regulatory approval with respect to the Equity Financing; the risk that the Company may not have the resources, or may otherwise be unable to pursue a listing on a US stock exchange; risks relating to the actual results of the Company's operational activities, fluctuating commodity prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. We seek safe harbor.