Mr. Corey Dias reports

ANFIELD COMPLETES ACQUISITION OF URANIUM PROJECT WITH HISTORICAL INDICATED URANIUM RESOURCE OF 18.1 MILLION POUNDS

Further to its news release of June 6, Anfield Energy Inc. has completed the acquisition of Neutron Energy Inc., a wholly owned subsidiary of EnCore Energy Corp. which holds the Marquez-Juan Tafoya uranium project located in the Grants uranium mineral district, 50 miles west-northwest of Albuquerque, N.M.

Corey Dias, Anfield's chief executive officer, commented: "We are pleased to complete the acquisition of the Marquez-Juan Tafoya uranium project as it both reinforces our acquisition strategy whereby we pursue advanced uranium and or vanadium projects. Moreover, the addition of Marquez-Juan Tafoya -- now our largest-single uranium project, in terms of resource size -- significantly expands our uranium resource base.

"With a global nuclear renaissance under way, we believe that our pursuit of advanced uranium deposits that will facilitate near-term uranium production is critical at this time as the global uranium supply deficit continues to grow. As Kazakhstan pivots east to support China in its robust nuclear growth plans, an important piece of U.S. utility uranium supply is increasingly at risk. This scenario highlights an unquestionable opportunity for uranium producers in the U.S.

"To that end, we will continue to advance both our near-term strategy, which centres on our advanced Utah and Colorado uranium and vanadium projects -- Velvet Wood, West Slope and Slick Rock -- underpinned by our wholly owned Shootaring Canyon mill, one of only three licensed conventional mills in the U.S., and our longer-term production strategy, which includes the acquisition of complementary assets with potential to feed additional uranium and vanadium resource to our Shootaring Canyon mill. We believe that Marquez-Juan Tafoya will both complement our existing portfolio of assets and serve as part of our longer-term uranium production strategy."

As consideration for the acquisition of Neutron, the company has issued 185 million common shares to EnCore and has agreed to pay $5-million in cash. Pursuant to an agreement reached with EnCore, $4-million of the consideration payment was made at closing, with the balance due and owing on or before Sept. 25, 2023. The company has also granted EnCore the right to nominate one director to the board of the company, to serve so long as EnCore continues to hold at least 10 per cent of the outstanding shares of the company. During this time, EnCore has agreed to vote the consideration shares in support of any decisions made by management of the company. Eugene Spiering has been appointed to the board of directors of the company as the initial nominee of EnCore.

The company is at arm's length from EnCore and Neutron. The consideration shares are subject to statutory restrictions on resale until Nov. 20, 2023, in accordance with applicable securities laws. No finders' fees or commissions are owing by the company in connection with the transaction. For further information regarding Juan Tafoya, readers are encouraged to review the news release issued by the company on June 6, 2023.

About Anfield Energy Inc.

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). Anfield is focused on its conventional asset centre.

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