Anfield Energy Inc. (“Anfield” or the “Company”) (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) today announced that its operating subsidiary, Highbury Resources, Inc. (“Highbury”), has advanced Colorado state permitting for the JD-8 uranium and vanadium mine in Montrose County.
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subsidiary → announce → County
By rationale dated August 24, 2026, the Colorado Division of Reclamation, Mining and Safety (“DRMS”) determined that Highbury’s Regular (112d) reclamation permit application (File No. M-2025-056) meets the requirements of the Colorado Mined Land Reclamation Act and the Mineral Rules and Regulations of the Colorado Mined Land Reclamation Board (the “Board” or “MLRB”) and recommended that the Board approve the application.
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Board → date → application
A staff finding of completeness, together with a recommendation for approval, is a significant de-risking event.
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finding → risk → approval
A formal public hearing is scheduled for the Board’s October 14–15, 2026 meeting in Denver.
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hearing → schedule → Denver
A Division recommendation for approval moves JD-8 from staff-level review into a defined Board decision window — a significant milestone in Anfield’s Colorado West Slope / Monogram Mesa permitting program.
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recommendation → move → program
The Board hearing is the final step in completing Anfield’s state permitting for JD-8.
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hearing → complete → JD-8
Corey Dias, Anfield CEO, commented: “DRMS’s recommendation that the Board approve the JD-8 permit is a major permitting milestone.
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Board → comment → permit
Colorado DRMS is the primary state authority for this mine-plan decision, and the October Board hearing puts us in a defined decision window.
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hearing → put → window
JD-8 is planned as Anfield’s second mine after Velvet-Wood, with a targeted restart by the end of Q2 2027, after which we intend to advance both JD-7 and Slick Rock.
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we → plan → JD-7
This is concrete progress toward domestic conventional production feeding our Shootaring-centered hub-and-spoke strategy.
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This → feed → strategy
Permitting Path
This milestone follows a defined sequence of steps in the process:
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milestone → permit → process
- December 22, 2025 — DRMS issued an initial completeness determination on Highbury’s JD-8 restart application package, allowing the matter to advance through substantive review.
- April 29, 2026 — The 112d application under File No. M-2025-056 was filed with DRMS (as reflected in the Division’s September 10, 2026 hearing notice).
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application → issue → notice
- August 24, 2026 — DRMS issued its rationale recommending that the Board approve the application.
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Board → issue → application
- September 10, 2026 — DRMS announced a Formal Board Hearing during the Board’s October 14–15, 2026 meeting in Denver.
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DRMS → announce → Denver
Updated Timeline and Hub-and-Spoke Strategy
Subject to Board approval and remaining operational readiness work, Anfield is targeting a restart of uranium and vanadium production at JD-8 by the end of the second quarter of 2027.
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Anfield → update → 2027
This updated timeline reflects the remaining Board process, mobilization, and underground restart activities at a past-producing brownfield site.
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timeline → update → site
Velvet-Wood in Utah remains the Company’s first mine advancing toward production; JD-8, along with Slick Rock, are intended to be the next mines in Anfield’s hub-and-spoke model, with ore shipped to a permitted mill — supporting the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the United States.
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JD-8 → remain → States
No on-site processing or milling is proposed in the JD-8 application.
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processing → propose → application
Upon completion of JD-8 state reclamation permitting, Anfield intends to focus on advancing additional Colorado mine permitting at both JD-7 (within the Monogram Mesa Mine Complex) and at Slick Rock.
Market and U.S. Policy Backdrop
Since Anfield’s April 8, 2026 JD-8 amendment announcement, uranium market conditions and U.S. nuclear-fuel policy have continued to strengthen.
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conditions → intend → announcement
The uranium long-term contract price closed August 2026 at US$96.50 per pound, above its 2007 peak, while spot U₃O₈ has recently traded near US$90 per pound.
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U₃O₈ → close → pound
In the United States, policy support for domestic nuclear fuel has accelerated.
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support → accelerate → fuel
The U.S. Department of Energy has advanced large-scale nuclear supply-chain financing, including US$17.5 billion in conditional American Nuclear Supply Chain loans to support new large reactors, and has continued implementation of domestic enrichment and fuel-cycle programs under the Defense Production Act.
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Department → advance → Act
Additional recent developments include federal support for reactor restarts, expansion plans at the only commercial-scale U.S. enrichment plant, and continued administration emphasis on reducing reliance on foreign uranium as the ban on Russian uranium imports phases toward full effect in 2028.
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ban → include → 2028
EIA data have also shown a rebound in U.S. uranium concentrate production.
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data → show → production
Anfield believes this combination of stronger term and spot pricing and a more supportive U.S. nuclear-fuel policy environment reinforces the strategic value of advancing permitted, past-producing conventional mines that can feed a licensed U.S. mill.
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that → believe → mill
About JD-8
The JD-8 Mine is located approximately 11 miles west of Naturita, Colorado, on approximately 28.3 acres within Department of Energy Uranium Leasing Program lease tracts.
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Mine → locate → tracts
It is a past-producing conventional underground uranium and vanadium mine and a key asset within Anfield’s Monogram Mesa Mine Complex.
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It → produce → Complex
Historic Cotter operations at JD-8 were suspended in 2006 due to market conditions.
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operations → suspend → conditions
The Company’s decision to advance development and permitting of the JD-8 uranium and vanadium mine is based on historical production data and analysis of available technical information, and not on a feasibility study of mineral reserves demonstrating economic and technical viability.
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decision → advance → viability
About Anfield
Anfield Energy is a uranium and vanadium development and near-term production company committed to becoming a significant supplier of energy-related fuels through sustainable, efficient growth of its U.S.-based assets.
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Energy → commit → assets
The Company’s flagship asset is the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the country.
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asset → license → country
Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico.
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portfolio → include → Utah
All of Anfield’s assets are located in the United States, positioning the Company to help meet America’s growing nuclear fuel needs.
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All → locate → needs
The U.S. consumes nearly 50 million pounds of uranium annually yet produces only a small fraction domestically.
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U.S. → consume → fraction
Corey Dias, Chief Executive Officer
Contact:
Anfield Energy, Inc.
Corporate Communications
604-669-5762
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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term → define → release
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
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release → contain → 1995
All statements, other than statements of historical facts, are forward-looking statements.
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statements → look → facts
Generally, forward-looking statements can be identified by the use of terminology such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” (including negative variations).
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actions → look → variations
Forward-looking statements in this release include, but are not limited to, statements regarding the completion of construction of the Velvet-Wood water treatment plan and installation of the dewatering pump; the commencement of treated water discharge; the expected timeframe for dewatering; and statements regarding ongoing rehabilitation work at Velvet-Wood.
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statements → look → Wood
Forward-looking statements are based on the Company’s current beliefs and assumptions as to the outcome and timing of future events, including, but not limited to, that the anticipated timing for completion of construction of the Velvet-Wood water treatment plant and installation of the dewatering pump will be consistent with the Company’s current expectations.
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timing → look → expectations
…and 4 more, not listed.
The Aporia
