Anfield Energy Inc. announced that Doug Beahm, P.E., P.G., has joined the Company as its Chief Operating Officer. Mr. Beahm?s 50 years of extensive uranium-related experience in exploration, project assessment, mine planning and development, permitting, mine and processing facility operation, and mine reclamation is critical to Anfield?s next steps of advancing its assets to become a U.S. uranium producer. Mr. Beahm will also continue to serve as the Principal of BRS Inc. and, while BRS will continue to serve other clients, BRS will also bring to Anfield the expertise of its staff which includes 16 professional and technical members of which 5 are Professional Engineers and 4 are Professional Geologists.

About the Uranium Market The macro view of the nuclear and uranium markets remains strongly positive. With a continued shift away from Russia, the value of European and North American uranium conversion and enrichment has increased significantly as these continents look to not only pivot from Russian-sourced fossil fuels but to also embrace nuclear power. In fact, legislation introduced in U.S. Congress seeks to prohibit the import of enriched uranium from Russia, accelerating the need for increased Western capacity.

Moreover, the challenges related to Kazakhstan?s uranium supply chain have already disrupted product flow to the West. As a result, China has taken the opportunity to seek closer ties to Kazakhstan as it continues to build out its extensive nuclear reactor fleet, negatively affecting uranium supplies available to the U.S. and other Western countries. In the U.S., the National Nuclear Security Administration?s Uranium Reserve awarded five contracts for near-term supply of uranium and the Sprott Physical Uranium Trust purchased millions of pounds of uranium on the spot market, further removing supply from the market.

Moreover, the US government?s creation of a 200GW energy roadmap to expand domestic milling and mining operations by 500,000MT per year ? 110 million pounds of uranium per year ? is a significant catalyst for US-based producers.

This is taking place while U.S. uranium production fell to essentially zero in the fourth quarter of 2023. Significantly, Japan has begun to restart its nuclear reactors ? including its largest reactor - and extend the life of others while commissioning additional ones, underscoring Japan?s 180-degree turn regarding nuclear.

This decision reflects the worldwide recognition of the need for new reactors to meet population increases, economic growth, electrical intensification and the critical task of meeting carbon emission targets. The requirement for increased baseload supply is sizeable. The worldwide requirement for major new baseload supply is being met with plans in many countries for both large-scale (1GW) reactors and Small Modular Reactors (SMRs).

The World Nuclear Association in March 2024 records that there are 61 reactors under construction world-wide and another 105 reactors planned. In short, it remains a story of supply and demand; demand is rapidly growing, while supply is shrinking.