The Uranium Market is Projected to Be More of a Prominent Source of Electricity

NEW YORK, May 22, 2018 /PRNewswire/ --

Nuclear power is an important source of electricity generation. According to data provided by the U.S. Department of Commerce, the global civil nuclear market is projected to be valued between $500 and $740 billion over the next 10 years (by 2026) and to have the potential to generate more than $100 billion in U.S. exports and create thousands of new jobs. In addition, a research report by the World Nuclear Association specifies that Mainland China has 36 nuclear power reactors in operation, 21 under construction, and more about to start construction. The upcoming reactors are expected to be the world's most advanced, designed to double nuclear capacity to at least 58 GWe by 2020-21, then up to 150 GWe by 2030, and much more by 2050. The high growth of nuclear power in China is largely due to air pollution from coal-fired plants. Anfield Energy Inc. (OTC: ANLDF), Energy Fuels Inc. (NYSE: UUUU), Uranium Energy Corp. (NYSE: UEC), Fission Uranium Corp. (OTC: FCUUF), NexGen Energy Ltd. (NYSE: NXE)

Uranium is a non-renewable energy source that cannot be replenished in a short period of time. A research report published by Mordor Intelligence indicates that once uranium is extracted, it should be sent to processing facility where the ore is processed into enriched fuel in the form of fine pellets, which is then transported to the power plant. "The USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity… Ever growing energy demand, need for clean energy generation and governments initiatives towards achieving energy security are some of the factors which are expected to drive the market growth," the report explains.

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 Anfieldcould 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."

Energy Fuels Inc. (NYSE: UUUU) is a leading integrated U.S. uranium mining company, supplying U3O8 to major nuclear utilities. Its corporate offices are in Denver, Colorado, and all of its assets and employees are in the western United States. Earlier this month, the company announced that it has closed the sale of certain non-core uranium properties in Wyoming to Uranium Energy Corp. ("UEC") for $5.39 million, including $2.94 million of cash and $2.45 million of shares in UEC at a deemed issuance price of $1.5072 per share of UEC. The disposed properties, which are adjacent to UEC's Reno Creek Project, are considered non-core to the Company, as they would require extensive permitting and licensing work, and significant time and capital, for Energy Fuels to bring them into commercial operation as a standalone project in the future. Therefore, the Company believes these assets are much better suited to be combined with UEC's Reno Creek Project. In addition, the Company holds other low cost ISR assets that are currently in production, or that can be brought into production sooner and on a greater scale than the disposed assets.

Uranium Energy Corp. (NYSE: UEC) is a U.S.-based uranium mining and exploration company. On February 9, 2018, the company announced that the company has closed a definitive Property Purchase Agreement, with Nuinsco Resources Limited to acquire 100% of the Diabase project located on the south rim of the Athabasca Basin uranium district in Saskatchewan, Canada. The Project delivers a significant land package of 21,949 hectares, which overlies a highly prospective regional corridor within 75 km of Cameco's Key Lake mill in a stable and leading jurisdiction for uranium exploration and mining. Efficient acquisition that preserves balance sheet flexibility in the bottom of the uranium cycle at less than 0.1% dilution to current UEC shareholders.

Fission Uranium Corp. (OTCQX: FCUUF) is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna, British Columbia. On May 10, 2018, the company announced assay results from all eight winter program holes drilled on the R1515W zone at its PLS property, in Canada\'s Athabasca Basin region. These include six holes with high-grade intervals, of particular note is hole PLS18-571 (line 1560W), which returned 94.5m of total composite mineralization including multiple high-grade intervals such as 5.0m @ 7.14% U3O8in 18.0m @ 2.44% U3O8 and 3.0m @ 5.98% U3O8 in 10.50m @ 1.97% U3O8. Importantly, these holes have better defined and expanded the known mineralized outline over 60m of strike length between lines 1560W to 1500W.

NexGen Energy Ltd. (NYSE: NXE) is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. Earlier this month, the company reported radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan. Follow up drilling to the northwest of the Arrow deposit (where hole GAR-17-001 recently discovered mineralization that returned 8.0 m at 1.43% U3O8) has successfully confirmed mineralization in a new shear named the "A0 Shear". Furthermore, the last hole of the 2018 winter program intersected off-scale mineralization 160 mnorthwest of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains completely open and untested for the future expansion of the Arrow Deposit.

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