AEC News & Events

Anfield Energy announces that the shareholders of the Company considered and voted at the special meeting of shareholders held on February 27, 2026 to approve Uranium Energy as a control person of the Company and the issuance by the Company to UEC Energy, a wholly-owned subsidiary of Uranium Energy, of 896,861 common shares in the capital of the Company, upon conversion of certain Subscription Receipts issued by the Company to UEC, following satisfaction of the Escrow Release Conditions, all as described in more detail in the Company's management information circular dated January 27, 2026. The common shares of Anfield beneficially owned by Uranium Energy were excluded from the vote as required by the TSX Venture Exchange. The Company also announces that it has issued the 896,861 Subscription Receipt Shares to UEC.

Corey Dias, CEO of Anfield, stated: "2025 was a pivotal year for Anfield, with regulatory greenlights, infrastructure investments, and operational milestones bringing us closer than ever to restarting U.S. uranium production. Our assets in Utah and Colorado are ideally positioned to feed the Shootaring Canyon mill in the relative near term, delivering reliable, American-sourced fuel for the nation's clean energy needs." Building on this momentum, Anfield is targeting a series of transformative production milestones in 2026 to establish itself as a leading near-term domestic uranium and vanadium producer: Commence initial uranium and vanadium production at the Velvet-Wood Mine, with delivery to the Shootaring Canyon mill soon thereafter; Achieve operational restart at the JD-8 Mine in Colorado, adding another mine to the Company's hub-and-spoke production model; Secure final radioactive materials license amendment approval and commence refurbishment of the Shootaring Canyon mill, enabling a full production restart with expanded capacity of up to 3 million pounds of uranium per year; Advance permitting and development at additional mines, including Slick Rock, to further expand the near-term resource pipeline; and Ramp up overall mine production toward an annual target contributing significantly to U.S. domestic supply, supported by long-term offtake discussions and critical mineral incentives. These goals position Anfield to capitalize on surging uranium demand driven by nuclear power expansion, AI data center requirements, and energy security priorities. Anfield's progress aligns seamlessly with broader milestones in the U.S. nuclear industry throughout 2025, driven by President Trump's executive orders in May aimed at reinvigorating the nuclear industrial base and quadrupling capacity by 2050. Key national developments include: Sweeping executive actions expediting permitting, reforming the Nuclear Regulatory Commission, and prioritizing domestic uranium enrichment and conversion to reduce foreign dependence. U.S. government's strategic recognition of uranium as a critical mineral in November, unlocking potential funding and further accelerating domestic project development. Significant investments in advanced reactors, including small modular reactors, with updated designs receiving NRC approvals and pilot programs advancing clean hydrogen production from nuclear sources. Major funding commitments, such as loans for reactor restarts and initiatives to expand high-assay low-enriched uranium production for next-generation technologies. Industry-wide efforts to bolster the nuclear workforce, secure supply chains, and power emerging demands from AI data centers and electrification. These national initiatives have created a favorable environment for companies like Anfield, emphasizing energy independence, carbon-free baseload power, and critical mineral security. Anfield remains committed to sustainable development, community engagement, and delivering shareholder value as it transitions to production. The Company is well-positioned to contribute meaningfully to America's nuclear revival and the global transition to clean energy.

Anfield Energy announced that it has appointed Lubica Niemann as CFO. Ms. Niemann will assume the role on January 1, 2026, Laara Shaffer, the current CFO of Anfield, will remain as a Director of the Company. Niemann held senior finance positions including controller for several TSXV-listed companies, including Kutcho Copper Corporation and MineHub Technologies. Anfield also announces that it intends to grant 769,401 restricted share units and 560,572 incentive stock options to certain Directors, Officers and Consultants, effective December 31, 2025. The RSUs will vest and settle in common shares after twelve months, subject to the holder continuing to be involved with the Company. The Options are exercisable to acquire an equivalent number of common shares at a price of $6.90, until December 31, 2030, and vest immediately upon grant.

Anfield Energy announces that the Colorado Division of Reclamation, Mining and Safety, DRMS, has issued an affirmative initial completeness determination for the Company's permitting application to restart its past-producing JD-8 uranium and vanadium mine in Montrose County, Colorado. The completeness review confirms that the application package - submitted on November 19, 2025 - contains all required technical, environmental, reclamation, and financial assurance components necessary to advance to full substantive review. This milestone keeps the project on track for potential approval and mobilization in mid-2026, with a targeted production restart in the second half of 2026. The JD-8 mine forms part of Anfield's West Slope project portfolio and is underpinned by the Company's 100%-owned Shootaring Canyon mill - one of only three licensed, permitted conventional uranium mills in the U.S. The restart plan leverages existing underground workings, historical production records, and Anfield's hub-and-spoke production strategy.