Velvet-Wood uranium mine enters Phase Two for Anfield (NASDAQ: AEC)

Rhea-AI Filing Summary

Anfield Energy Inc. reports that it has completed phase one surface construction at its Velvet-Wood uranium and vanadium project in Utah. This first phase included stripping and stockpiling approximately 4,500 cubic yards of topsoil, installing temporary office and power, improving nearly 3 miles of roads, rehabilitating about 1,500 feet of decline, and activating the mine ID with the U.S. Mine Safety and Health Administration.

The company will now move into Phase Two, focused on dewatering and rehabilitating existing underground workings and building the ore pad, which is expected to take about six months, with initial underground development activities targeted to begin within the next 30 days. A planned Phase Three will add permanent surface infrastructure, with Anfield intending to produce mined material while that work is completed. Anfield states it remains on track to return Velvet-Wood to production by the end of 2026, supporting its hub-and-spoke strategy centered on the Shootaring Canyon Mill.

Key Figures

Topsoil stockpiled: 4,500 cubic yards Roads built or improved: Nearly 3 miles Decline rehabilitated: Nearly 1,500 feet +2 more

5 metrics

Topsoil stockpiled 4,500 cubic yards Clean topsoil stripped and stored for future reclamation at Velvet-Wood

Roads built or improved Nearly 3 miles County and site roads constructed or upgraded during Phase One

Decline rehabilitated Nearly 1,500 feet Underground decline rehabilitation completed in Phase One

Phase Two duration Approximately 6 months Expected length of dewatering and rehabilitation phase

Target production restart End of 2026 Stated goal for returning Velvet-Wood mine to production

Key Terms

forward-looking statements, hub-and-spoke strategy, Shootaring Canyon Mill, expedited permitting, +1 more

5 terms

forward-looking statements regulatory

"This news release contains forward-looking statements and forward-looking information"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

hub-and-spoke strategy financial

"This progress supports Anfield’s hub-and-spoke strategy, centered on the fully permitted Shootaring Canyon Mill"

Shootaring Canyon Mill technical

"centered on the fully permitted Shootaring Canyon Mill in Utah"

expedited permitting regulatory

"Velvet-Wood was the first uranium mine to be advanced through expedited permitting under the current administration"

Mine Safety and Health Administration regulatory

"Activated the mine ID with the U.S. Mine Safety and Health Administration, enabling the start of mining"

The Mine Safety and Health Administration (MSHA) is a U.S. federal agency that sets and enforces safety and health standards for mining operations, conducts inspections, investigates accidents, and issues citations or fines. Its actions matter to investors because safety rules, enforcement actions, or accident findings can increase operating costs, interrupt production, create legal and cleanup liabilities, and damage a miner’s reputation—similar to how building inspections or traffic enforcement affect a company’s ability to operate smoothly.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-42808

Anfield Energy Inc.
(Translation of registrant's name into English)

2005-4390 Grange Street, Burnaby, British Columbia, Canada, V5H 1P6
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Anfield Energy Inc.
		(Registrant)
Date: June 1, 2026		/s/ Corey Dias
		Corey Dias
		Chief Executive Officer

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated June 1, 2026

EXHIBIT 99.1

Anfield Energy Inc. Completes Phase One Surface Construction at Velvet-Wood Project

VANCOUVER, British Columbia, June 01, 2026 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (NASDAQ: AEC; TSX.V: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”) is pleased to announce the successful completion of phase one surface construction (“Phase One”) at its Velvet-Wood uranium and vanadium project in Utah (“Velvet-Wood”). With Phase One now complete, the Company will shift focus to phase two of mine construction at Velvet-Wood (“Phase Two”).

Corey Dias, Anfield CEO, commented: “The successful completion of Phase One surface construction at Velvet-Wood marks strong progress on the ground made possible by our expanded workforce. We are now advancing into Phase Two, with initial underground development activities expected to commence within the next 30 days. This advancement is significant in the broader U.S. context, as Velvet-Wood was the first uranium mine to be advanced through expedited permitting under the current administration.

Anfield is proud to do its part in answering the call to vastly expand America’s nuclear capacity and energy independence. We remain firmly on track to resume production at Velvet-Wood by the end of 2026.”

Phase Two will focus on the dewatering and rehabilitation of the existing underground workings, along with construction of the ore pad to allow for mining to begin upon completion of the dewatering. Phase Two is expected to last approximately 6 months. Initial underground development activities are expected to commence within the next 30 days at Velvet-Wood.

Phase three of mine construction at Velvet-Wood (“Phase Three”) will involve the buildout of permanent surface infrastructure, including the mine office, shop/warehouse, and permanent power. The Company intends to produce mined material concurrently with the completion of this final development phase.

The completed Phase One work at Velvet-Wood included the following actions:

• Stripped the topsoil from the original mine area and stockpiled approximately 4,500 cubic yards of clean topsoil, set aside for future reclamation work;
• Completed a full site survey to orient the surface with the underground workings;
• Installed a temporary office and shop to support construction and site development;
• Built or improved nearly 3 miles of roads, including both county roads and site roads;
• Installed temporary power to the site;
• Uncovered the previous plugged/reclaimed decline shaft and constructed the new portal and gates;
• Installed ventilation for the underground;
• Rehabilitated nearly 1,500 feet of decline;
• Activated the mine ID with the U.S. Mine Safety and Health Administration, enabling the start of mining and mine construction;
• Built pads for the permanent facilities (mine office, shop/warehouse, and water treatment); and
• Restarted the Company’s Papoose limestone quarry, supplying all aggregate used on site for road and pad construction.
  
  

This progress allows Anfield to remain on schedule to return the Velvet-Wood mine to production by the end of 2026. This milestone is made more significant by the fact that the mine last produced in 1984, while the remaining Lisbon Valley mines were ultimately shuttered by 1988. For more than 40 years this resource area has been waiting for the return of the U.S. uranium industry.

This progress supports Anfield’s hub-and-spoke strategy, centered on the fully permitted Shootaring Canyon Mill in Utah and its portfolio of high-quality uranium-vanadium assets in Utah and Colorado.

About Anfield

Anfield is a uranium and vanadium development company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the NASDAQ (AEC-Q), the TSXV (AEC-V) and the Frankfurt Stock Exchange (0AD).

On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact:

Anfield Energy, Inc.
Corporate Communications
604-669-5762
contact@anfieldenergy.com
www.anfieldenergy.com

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements in this release include, but are not limited to, statements regarding Phase Two, including, without limitation, the dewatering and rehabilitation of the existing underground workings, the construction of the ore pad to allow for mining to begin upon completion of the dewatering, the duration of Phase Two expecting to last approximately six months, and the expectation that initial underground development activities will commence within the next 30 days at Velvet-Wood; statements regarding Phase Three, including, without limitation, the buildout of permanent surface infrastructure, including, without limitation, the mine office, shop/warehouse, and permanent power, and the intention to produce mined material concurrently with the completion of this Phase Three; the Company returning the Velvet-Wood mine to production by the end of 2026; ; and statements regarding the Company’s hub-and-spoke uranium and vanadium strategy, centered on the Shootaring Canyon Mill as the central processing facility. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, among other things: risks that Phase Two will not be completed as contemplated, or at all; risks that Phase Three will not be complete as contemplated, or at all; risks that the Velvet-Wood mine may not be returned to production as contemplated, or at all; the risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the need to comply with environmental and governmental regulations in Canada and the United States; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties and other such factors as are set forth in the annual information form for the Company’s most recently completed year end, as well as the management discussion and analysis and other disclosures of risk factors for the Company, filed on SEDAR+ at www.sedarplus.ca. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

FAQ

What did Anfield Energy (AEC) announce about the Velvet-Wood project?

Anfield Energy announced completion of phase one surface construction at its Velvet-Wood uranium and vanadium project in Utah. The work included site preparation, road building, power installation, decline rehabilitation, and regulatory activation, positioning the project to begin underground development in the next construction phase.

What is included in Phase Two of Anfield Energy’s (AEC) Velvet-Wood mine construction?

Phase Two will focus on dewatering and rehabilitating existing underground workings and constructing the ore pad. This phase is expected to last about six months and is intended to allow mining to begin once dewatering is completed, following initial underground activities anticipated within 30 days.

When does Anfield Energy (AEC) expect to resume production at Velvet-Wood?

Anfield states it remains on schedule to return the Velvet-Wood mine to production by the end of 2026. The plan depends on completing Phase Two dewatering and rehabilitation, followed by Phase Three surface infrastructure buildout while producing mined material.

What specific work was completed in Phase One at Anfield Energy’s (AEC) Velvet-Wood project?

Phase One work included stripping and stockpiling about 4,500 cubic yards of topsoil, building or improving nearly 3 miles of roads, rehabilitating about 1,500 feet of decline, installing temporary facilities and power, adding ventilation, and activating the mine ID with U.S. Mine Safety and Health Administration.

How does Velvet-Wood fit into Anfield Energy’s (AEC) broader strategy?

Velvet-Wood supports Anfield’s hub-and-spoke uranium and vanadium strategy centered on the fully permitted Shootaring Canyon Mill in Utah. The project is part of a portfolio of uranium-vanadium assets in Utah and Colorado aimed at supplying energy-related fuels.

Why is Anfield Energy’s (AEC) Velvet-Wood progress described as significant in a U.S. context?

The company notes Velvet-Wood was the first uranium mine advanced through expedited permitting under the current U.S. administration. It highlights this progress as contributing to efforts to expand U.S. nuclear capacity and support domestic energy independence objectives.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 8.9 KB