Mr. Corey Dias reports

ANFIELD ENERGY SUBMITS PERMITTING APPLICATION TO RESTART JD-8 URANIUM MINE IN MONTROSE COUNTY, COLORADO - TARGETING OPERATIONS IN SECOND HALF OF 2026

Anfield Energy Inc. has formally submitted a comprehensive permitting application to the Colorado Division of Reclamation, Mining and Safety (DRMS) for the restart of its fully permitted, past-producing JD-8 uranium and vanadium mine in Montrose county, Colorado. The Company is targeting operational restart in the second half of 2026.

The JD-8 mine project is a high-grade conventional uranium and vanadium asset within Anfield's strategic development portfolio, underpinned by the Shootaring Canyon mill -- one of only three licensed conventional uranium mills in the United States. The project leverages existing infrastructure, historic production data and previously approved permits to accelerate the path to production.

Key elements of the permitting application and restart plan include:

• Streamlined regulatory pathway: The application builds on existing state permits, focusing on operational updates, enhanced monitoring and modern reclamation standards to expedite approval.
• Proven conventional mining: Underground long-hole stoping methods will be employed, supported by updated ventilation, ground control and water management systems.
• Economic and community benefits: The restart is projected to create approximately 50 direct jobs during operations, with additional indirect employment in transportation, supply chain and local services.
• Environmental responsibility: The plan includes concurrent reclamation and full bonding in compliance with Colorado's rigorous environmental regulations.

"This permitting milestone for JD-8 is a pivotal step in Anfield's strategy to help restore U.S. uranium production capacity," said Corey Dias, chief executive officer of Anfield. "With strong market fundamentals, rising domestic demand and government support for nuclear energy, JD-8 is poised to deliver high-grade uranium to the American fuel cycle starting in H2 2026. We are fully committed to responsible development and meaningful engagement with local communities and tribal nations."

Anfield has initiated prepermitting consultations with the DRMS and local county officials and is fully committed to responsible development and meaningful engagement with both local communities and tribal nations. The company expects a thorough but efficient review process, supported by the project's brownfield status and alignment with Colorado's energy and critical minerals objectives. Upon approval, mobilization and mine rehabilitation activities will commence immediately, potentially positioning JD-8 alongside the company's Velvet-Wood mine as one of the first conventional uranium mines to resume production in the United States in over a decade.

JD-8 uranium-vanadium mine production decision

The company notes that its decision to advance development of the JD-8 uranium and vanadium mine is based on historical production data and analysis of drilling samples and not on a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there are additional uncertainty and risk related to the economics and viability of development.

Qualified persons

Douglas L. Beahm, PE, PG, principal engineer at BRS Inc. and chief operating officer of the company, is a qualified person as defined in National Instrument 43-101 and has reviewed and approved the technical content of this news release.

About Anfield Energy Inc.

Anfield is a uranium and vanadium development 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 Nasdaq Stock Market (symbol: AEC), the TSX Venture Exchange (symbol: AEC) and the Frankfurt Stock Exchange (symbol: 0AD).

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