Technological Breakthroughs are Increasing Nuclear Power Applications

NEW YORK, July 19, 2018 /PRNewswire/ --

According to a study published by Energias Market Research, the global nuclear power market is projected to witness a CAGR of 8.9% and is likely to reach USD 205.2 Billion by 2024. The research indicates that nuclear energy, being a low-carbon alternative for conventional sources of energy such as coal and other fossil fuels, has expanded its application across a wide range of industries. Increasing technological advancements, with regard to power generation as well as decommissioning of nuclear facilities after the end of their lifespan, has further actuated the market demand over the forecast period. Anfield Energy Inc. (OTC: ANLDF), Cameco Corporation (NYSE: CCJ), Energy Fuels Inc. (NYSE: UUUU), Uranium Energy Corp. (NYSE: UEC), NexGen Energy Ltd. (NYSE: NXE)

The World Nuclear Association indicates that the USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity. Following a 30-year period in which few new reactors were built, it is expected that four more new units will come online by 2021. A report by Forbes indicates the potential of U.S.A.'s involvement in the nuclear energy technology market, "The global market for nuclear reactors is at least USD 75 Billion per year, even more if you include lucrative fuel and maintenance contracts. American products use to dominate this sector, but Russia, Korea, and China have passed us. The U.S. could easily compete for these Billion-dollar contracts using advanced reactors. This would employ tens of thousands of American engineers, manufacturers, and tradesmen, and open up entirely new markets for the United States. But only if we move fast to finish development and construction of these new designs," Forbes reports.

Anfield Energy Inc. (OTCQB: ANLDF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: AEC). Earlier in May, the Company announced that, "Stephen S. Lunsford has agreed to join the Company's Board of Directors. Mr. Lunsford has had an extensive career as a geologist in the uranium sector, spanning four decades, with his vast experience generated through his time working with entities such as Cameco Resources Inc., American Nuclear Corp. and Power Resources Inc. (PRI). In addition, Mr. Lunsford was involved in a feasibility study completed by PRI for Cotter with regard to Anfield's recently-acquired Charlie project in Wyoming. Overall, Mr. Lunsford's regional expertise and uranium asset knowledge will be a significant asset to Anfield.

'We are excited to have someone of Mr. Lunsford's calibre joining our board of directors,' commented Anfield's CEO, Corey Dias. 'His successful career spanning four decades in the uranium industry with well-known entities in the sector, such as Cameco and PRI, is impressive, and his extensive knowledge of Wyoming uranium will prove to be a great value to the Company as we move our projects forward. Moreover, his direct knowledge with regard to the Charlie project could allow Anfield to further streamline our path to production.'

Mr. Lunsford began his career with American Nuclear Corp. in 1972 where he began as a Field Geologist supervising field drilling programs for as many as seven drill rigs. He later became a Project Geologist where he organized and directed all aspects of exploration drilling programs.

In 1987, Mr. Lunsford began work as a Project Geologist with Everest Minerals, which became PRI in 1989. In 1996, PRI was acquired by Cameco Inc., and in 2008, PRI's name was changed to Cameco Resources. During his time with Everest/PRI/Cameco, Mr. Lunsford planned and implemented delineation and exploration drilling programs and mapped subsurface roll fronts by means of drill hole geophysical logs. As Project Geologist, he generated uranium reserve/resource evaluations, created and maintained drill hole databases and planned and designed in-situ patterns. His responsibilities also included data collection and geology for generating mine permit applications.

From 2000 to 2002, Mr. Lunsford served as the Senior Project Geologist on PRI's Smith Ranch-Highland Mine where he evaluated the uranium reserve/resource estimation by geologic and geostatistical methods. He designed and evaluated uranium in-situ production patterns, performed prospect evaluations, and created and/or supervised maintenance of the geophysical drill hole database. He also managed production databases, tracked production and created monthly production reports.

In 2002, he became Chief Geologist for the Smith Ranch-Highland Mine where he evaluated uranium prospects and supervised uranium IST mining efforts. As Chief Geologist, he functioned as the Qualified Person (QP) for purposes of NI 43-101 reports.

From 2006 until his retirement in 2013, Mr. Lunsford served as Senior Evaluation Geologist for PRI/Cameco Resources. In this position, he generated uranium prospects internally and evaluated prospects submitted from outside sources. During this period, he continued to serve as the QP on NI 43-101 reports for PRI/Cameco.

From 2013 to 2014, Mr. Lunsford was a consulting geologist to Tetra Tech and Anatolia Energy on the Temrezil Uranium project in Turkey. His responsibilities included reserve/resource estimation to enable definition of mineral resource boundaries and assisting in preparation of a preliminary wellfield layout to support the development of a pre-feasibility study."

Cameco Corporation (NYSE: CCJ) is one of the world's largest uranium producers accounting for about 16% of global production from its tier-one operations in Canada and Kazakhstan. The Company recently announced that it has advanced an agreement signed in 2017 that will see the Company play a significant role in Bruce Power's Major Component Replacement Project over the next 15 years. First announced last May, the USD 62 Million agreement contracts Cameco Fuel Manufacturing (CFM) to manufacture calandria tubes and annulus spacers for Bruce Power's Major Component Replacement (MCR) Project. The 'Made in Ontario' agreement covers all six units that will undergo an MCR between 2020 and 2033, which will allow Bruce Power to provide low-cost, carbon-free nuclear power to the province until 2064. Cameco also supplies Bruce Power with reactor fuel, which benefits the economy in both Port Hope and Cobourg, while also creating and sustaining mining jobs in Saskatchewan, where the uranium used in Canada's nuclear reactors originates.

Energy Fuels Inc. (NYSE: UUUU) is a leading uranium producer in the U.S. In May, the Company announced that it has closed the sale of certain non-core uranium properties in Wyoming to Uranium Energy Corp. ("UEC") for USD 5.39 Million, including USD 2.94 Million of cash and USD 2.45 Million of shares in UEC at a deemed issuance price of USD 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. Earlier this year, 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 ISR Project is located in the Powder River Basin, Campbell County, Wyoming, approximately 80 miles northeast of Casper.

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 assay results for all fifty-four holes from its recently concluded winter drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan. Assays have confirmed uranium mineralization was intersected in areas representing significant step-outs to the northeast and northwest of the Arrow Deposit representing large, wide-open areas of potential mineralization growth. Additionally, uranium mineralization was intersected in both A1 and A2 Inferred expansion areas.

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