Anfield's JD-8 mine application passes initial review

Executive Summary

• Anfield Energy Inc. received an affirmative initial completeness determination from the Colorado Division of Reclamation, Mining and Safety (DRMS) for its JD-8 mine restart application.
• The review confirms the application contains all required technical, environmental, reclamation, and financial assurance components, allowing the project to advance to a full substantive review.
• The company targets potential approval and mobilization in mid-2026, with a production restart scheduled for the second half of 2026.

Key Details

• Regulatory Milestone: The Colorado DRMS issued an affirmative initial completeness determination for the JD-8 uranium and vanadium mine restart application.
• Application Submission: The application package was submitted on November 19, 2025.
• Project Scope: The JD-8 mine is part of Anfield's West Slope project portfolio and is a past-producing uranium and vanadium mine located in Montrose County, Colorado.
• Infrastructure: The restart plan leverages existing underground workings and historical production records, supported by the company's 100%-owned Shootaring Canyon mill (one of only three licensed, permitted conventional uranium mills in the U.S.).
• Strategic Approach: The project utilizes a "hub and spoke" production strategy.
• Timeline: The 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.
• Risk Disclosure: The decision to advance development is based on historical production data and drilling sample analysis, not a feasibility study of mineral reserves, introducing additional uncertainty regarding economic and technical viability.
• Qualified Person: Douglas L. Beahm, PE, PG, Principal Engineer at BRS Inc. and Anfield's COO, has reviewed and approved the technical content as a qualified person under National Instrument 43-101.

Notable Quotes

• Corey Dias, CEO: "This positive completeness finding is a critical early derisking event for JD-8 and demonstrates the strength of the application prepared by our team. With strong uranium market fundamentals, escalating domestic nuclear fuel demand, and continued federal and state support for critical minerals production, JD-8 is ideally positioned to become one of the next conventional uranium mines to resume operations in the United States."