Canadian firm buys uranium claims

A Canadian energy company has purchased 4,800 acres of uranium mining claims the company said have near-term cash-flow potential.

Anfield Resources Inc. (ARY-V) purchased the claims from Alamosa Mining Corp.

The purchase affects properties within 120 miles of the existing White Mesa Mill in Blanding, Utah, and within 35 miles of the proposed Pinyon Ridge mill near Naturita, Anfield noted in announcing the acquisition.

The White Mesa Mill is owned by Energy Fuels Inc., which also is seeking to build the mill in Naturita.

Energy Fuels has said it plans to operate both mills, with each serving different geographic regions that contain mines it owns. Officials have said they also will mill ore from other than their mines.

The company had no comment on Anfield’s acquisition Thursday.

The spot price of uranium oxide on Thursday was $29 a pound.

Anfield’s uranium portfolio now consists of 600 unpatented mining claims in 113 claim groups in Utah, Colorado and Arizona, and nine mineral leases on Utah State Trust Land.

Anfield said it now has access to mineral rights on more than 17,500 acres in Utah and Colorado in districts where historical uranium and vanadium production reached more than 37 million pounds and 100 million pounds, respectively.

Anfield’s acquisitions include nine claim groups consisting of 46 individual claims in the Gateway District in southern Mesa County; 15 claim groups consisting of 105 individual claims situated in the Slick Rock District in western San Miguel County; and 10 claim groups consisting of 45 individual claims in the Paradox District in Montrose County.

The agreement with Alamosa calls for Anfield to issue 1,950,000 common shares to Alamosa, as well as $600,000 in cash payments spread over three years.

Anfield is a publicly traded corporation listed on the TSX-Venture Exchange. It has mineral exploration, development and production in the United States and Chile.


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