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Jun 14, 2018 8:00 AM ET

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Nuclear Energy Expected to Experience a Surge in Demand

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iCrowdNewswire - Jun 14, 2018

NEW YORK, —

According to data published by Energias Market Research Pvt. Ltd., the global nuclear power market is projected to witness a CAGR of 8.9% and reach USD 205.2 Billion by 2024. The research indicates that the strong demand for clean energy from residential and industrial sectors, as well as the decreasing fossil fuel reserves, are crucial factors contributing to the positive projections of the nuclear power market. The World Nuclear Association specifies that there was a total of 440 nuclear power plants operating around the world in January, delivering about 11% of the world’s energy. Anfield Energy Inc. (OTC: ANLDF), Ur‐Energy Inc. (NYSE: URG), Denison Mines Corp. (NYSE: DNN), Uranium Energy Corp. (NYSE: UEC), Westwater Resources, Inc. (NASDAQ: WWR)

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 May 23rd 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 caliber 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.

We also announce the resignation of Jim Rasmussen from the Anfield Board. We would like to thank Mr. Rasmussen for his significant contributions to the Company over the years and wish him all the best in his future endeavors.”

Ur‐Energy Inc. (NYSE: URG) is a uranium mining company operating the Lost Creek in‐situ recovery uranium facility in south‐central Wyoming. 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. On March 31, 2018, inventory at the conversion facility was approximately 159,296 pounds U3O8. During the quarter, sales totaled USD 19.7 Million on 380,000 pounds at an average price of USD 51.75 per pound, which was 140% above the average spot price for the same period of USD 21.52 per pound, according to the Company. During the quarter, the second of the first three header houses in the second mine unit (MU2) at Lost Creek commenced production. The third of these houses came online in May. With the addition of MU2 production, both grades and flow levels have continued to increase. Currently, more than four and a half years into production, Lost Creek U3O8 head grade has averaged 85.7 mg/l, life‐of‐project.

Denison Mines Corp. (NYSE: DNN) is the largest undeveloped high-grade uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan. The Company recently announced the report assay results from the winter 2018 drilling program, for the Company’s 63.3% owned Wheeler River project in northern Saskatchewan. The assay results were on average 26% higher, in terms of combined grade and thickness, than the preliminary equivalent uranium (“eU3O8”) results reported previously. Assay results confirmed high-grade intercepts from reconnaissance drill holes targeting the sub-Athabasca unconformity, to the northeast of Gryphon, along the K-North trend. The results showed evidence of 1.4% U3O8 over 5.5 meters, located 600 meters northeast of Gryphon, including 7.2% U3O8 over 1.0 meter in drill hole WR-704 as well as of 1.1% U3O8 over 3.0 meters, located 1-kilometer northeast of Gryphon, including 2.8% U3O8 over 1.0 meter in drill hole WR-710D1.

Uranium Energy Corp. (NYSE: UEC) is a U.S.-based uranium mining and exploration company. Uranium Energy recently announced that the Company has recently completed its previously announced Purchase Agreement with Uranerz Energy Corporation and now holds 100% of its advanced stage North Reno Creek ISR project. North Reno Creek is situated within UEC’s existing permitting boundary at Reno Creek, allowing for integrated development. Additionally, it increases Reno Creek’s combined Measured and Indicated resource by 20%, based upon Uranerz’s previously reported NI 43-101 Measured and Indicated resource of 3.8 million tons grading 0.056% U3O8 yielding 4.3 million lbs at North Reno Creek. UEC plans to engage a qualified person to compete the necessary work to incorporate the North Reno Creek resource estimate into the Company’s Reno Creek Project and complete an updated technical report under NI 43-101

Westwater Resources, Inc. (NASDAQ: WWR) formerly known as Uranium Resources, Inc., is focused upon the development of energy-related minerals and materials. The Company recently announced the completion of a Technical Report on its Ambrosia Lake Uranium Project, which is located in McKinley County in the State of New Mexico. The project area covers a significant part of the now-inactive Ambrosia Lake mining district, which has historically been the largest single source of uranium production in the United States. The Ambrosia Lake Uranium Project Technical Report concludes that the project is of merit and is worthy of additional work to advance it to the next stage of technical evaluation. Three distinct uranium deposit targets, Mesa Redonda, Section 23 and Section 27, have been identified within the Company’s properties according to the announcement. These mineralized zones were estimated by the historical operators and qualified industry consulting geologists to contain approximately 6.81 million pounds of U3O8.

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