Nuclear Power Demand to Grow With Green Energy

NEW YORK, May 8, 2018 /PRNewswire/ --

Nuclear power is crucial for generation of electricity around the world. The demand for cleaner energy sources are accelerating and developing markets such as China and India are in need of stronger energy infrastructure. A research report published by the World Nuclear Association, explains that Mainland China has 36 nuclear power reactors in operation, 21 under construction, and more starting construction. The increased growth of nuclear power in China is mostly attributed to air pollution from coal-fired plants. The new reactors being built are expected to be the world's most innovative, designed to double nuclear capacity of about 58 GWe by 2020-21, then up to 150 GWe by 2030, and much more by 2050. Anfield Energy Inc. (OTC: ANLDF), Uranium Energy Corp. (NYSE: UEC), Energy Fuels Inc. (NYSE: UUUU), Ur-Energy Inc. (NYSE: URG), Denison Mines Corp. (NYSE: DNN)

According to a recent report by the World Nuclear Association, "Access to electricity and the need for clean air are vital. Electricity consumption will continue to rise whilst more people require access to electricity for a better quality of life. At the same time it is important that there is a reduction in air pollution and greenhouse gas emissions. The Harmony goal is based on the International Energy Agency's 2°C Scenario, which sets out a pathway that avoids the most damaging consequences of climate change… Achieving the Harmony goal means nuclear energy capacity must triple globally by 2050."

Anfield Energy Inc. (OTCQB: ANLDF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: AEC). On April 25th the company announced that it has, "identified vanadium exploration targets in its recently-acquired exploration database of mining projects in the Western United States. These targets, found in both Colorado and Utah, are considered complementary to Anfield's Utah-based Shootaring Canyon mill as Anfield could include a vanadium processing circuit on this asset. Moreover, these vanadium projects could serve as a potential extended vanadium project pipeline beyond the Velvet-Wood uranium/vanadium project on which Anfield has previously announced a vanadium exploration target. Finally, Anfield's prospective energy partners have shown an increasing interest in the Company's vanadium assets due to the recent upturn in the vanadium price - from US$4.00 to US$15.00 per pound."

Corey Dias, Anfield CEO, states, "The identification of potential vanadium targets in in our recently-acquired database offers a distinct advantage to the Company. Further to our news release on December 13, 2017, Anfield has already identified a vanadium exploration target of between 6.3 million pounds and 9.7 million pounds at its past-producing Velvet-Wood uranium mine - at which vanadium was previously produced as a byproduct - and the potential to create a significant pipeline of vanadium projects is compelling.  This is even more attractive to Anfield as it holds one of only three licensed, permitted and constructed uranium mills in the U. S., and the ability to add a vanadium processing circuit to the Shootaring Canyon mill provides a strategic advantage to the Company in relation to its peers as Anfield could accelerate the vanadium production process.

"Vanadium is increasingly being embraced by battery manufacturers as a core material in the production of batteries to be used in both small-scale and large-scale applications; in fact, vanadium redox-flow batteries (VFBs) have started to grow in influence as energy companies look to improve energy storage.  This ranges from grid-scale uses, such as Prudent Technology's use of a VFB for its solar installation in Italy, to smaller-scale uses such as Warren Buffett's BYD company using vanadium batteries for its electric vehicles and Subaru using a VFB to power its Subaru G4e vehicle. Vanadium is clearly viewed as an attractive alternative to other battery technology sources.  Anfield is fortunate in having the ability to exploit two energy metal resources together, both with highly positive demand projections: uranium and vanadium".

Uranium Energy Corp. (NYSE: UEC) is a U.S.-based uranium mining and exploration company. Recently, the company announced that it has recently completed its previously announced Purchase Agreement with Uranerz Energy Corporation, a wholly owned subsidiary of Energy Fuels Inc., and now holds 100% of its advanced stage North Reno Creek ISR project located immediately adjacent to and within UEC's existing Reno Creek Project permitting boundary in the Powder River Basin, Wyoming.  The North Reno Creek leases and claims acquired through this Acquisition consolidate UEC's land and resource* position in the region. The North Reno Creek ISR Project is located in the Powder River Basin, Campbell County, Wyoming, approximately 80 miles northeast of Casper.

Energy Fuels Inc. (NYSE: UUUU) is a leading integrated US-based uranium mining company, supplying U3O8 to major nuclear utilities. Recently, the company reported its financial results for the quarter ended March 31, 2018. At March 31, 2018, the Company had $23.6 million of working capital, including cash and cash equivalents of $6.6 million and approximately 600,000 pounds of uranium concentrate inventory. During the first three months of 2018, the Utah Department of Environmental Quality renewed the Company's White Mesa Mill license for another ten years, and the Company received amendments from the U.S. Bureau of Land Management and U.S. Forest Service to its Plans of Operations to expand operations at its La Sal Uranium/Vanadium Project and Daneros Uranium Project, both of which are currently on standby. The Company completed the shaft at its Canyon Project to a depth of 1,470 ft. during the first three months of 2018, and also completed the construction of a sump at the bottom of the shaft, as well as miscellaneous other development activities at the mine. Currently planned field activities at the mine are now complete.

Ur-Energy Inc. (NYSE: URG) is a dynamic junior mining company operating the Lost Creek in-situ recovery (ISR) uranium facility in south-central Wyoming. The Lost Creek processing facility has a two million pounds per year physical design capacity. Shirley Basin, its newest project, is one of the Pathfinder Mines assets the company acquired in 2013. On April 12, 2018, the company provide the operational results for first quarter 2018. For the quarter, 84,047 pounds of U3O8 were captured within the Lost Creek plant, 79,961 pounds of U3O8 were packaged in drums and 73,515 pounds of U3O8 drummed inventory were shipped out of the Lost Creek processing plant. At March 31, 2018, inventory at the conversion facility was approximately 159,296 pounds U3O8. During the quarter, sales totaled $19.7 million on 380,000 pounds at an average price of $51.75 per pound, which was 140% above the average spot price for the same period of $21.52 per pound.

Denison Mines Corp. (NYSE: DNN) is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan - including its 60% owned Wheeler River project, which hosts the high grade Phoenix and Gryphon uranium deposits. Denison also owns a 22.5% interest in the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement, and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride. Recently, the company reported Results from Q1 2018. On January 31, 2018, Denison announced an 88% increase in the Indicated Mineral Resources estimated for the Wheeler River project (63.3% Denison owned). The result was attributable to an increase in the estimated resources at the Gryphon deposit, which is estimated to include, above a cut-off grade of 0.2% U3O8, 61.9 million pounds of U3O8(1,643,000 tonnes at 1.71% U3O8) in Indicated Mineral Resources, plus 1.9 million pounds of U3O8 (73,000 tonnes at 1.18% U3O8) in Inferred Mineral Resources.

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