Nuclear Power is Seen as a Solution to Insufficiencies in Energy Infrastructures

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Jun 27, 2018, 09:00 ET

NEW YORK, June 27, 2018 /PRNewswire/ --

The demand for cleaner energy sources is accelerating and developing markets, such as China and India, are in need of stronger energy infrastructure. Data provided by the World Nuclear Association, explains that Mainland China has 36 nuclear power reactors in operation, 21 under construction, and more starting construction. The increasing growth of nuclear power in China is mostly credited to air pollution from coal-fired plants. The new reactors, which are currently in construction and are expected to be the world's most innovative, are meant to double the nuclear capacity of about 58 GWe by 2020-21, then up to 150 GWe by 2030, and much more by 2050. Anfield Energy Inc. (OTC: ANLDF), Cameco Corporation (NYSE: CCJ), Westwater Resources, Inc. (NASDAQ: WWR), NexGen Energy Ltd. (NYSE: NXE), Alexco Resource Corp. (NYSE: AXU)

Recently, the U.S.A., Canada and Japan partnered to promote nuclear energy power. Director General of the World Nuclear Association, Agneta Rising, explained, according to Forbes that, "Countries will need to use nuclear energy alongside other forms of clean energy to deliver a sustainable energy mix that is affordable to all and that supports economic development."

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 providing about 16% of the world's production from our tier-one operations in Canada and Kazakhstan. In April, the Company reported its consolidated financial and operating results for the first quarter ended March 31, 2018 in accordance with International Financial Reporting Standards (IFRS). Net earnings were USD 55 Million and adjusted net earnings was USD 23 Million. Earnings were higher this quarter as compared to 2017, largely due to the gain realized on the restructuring of JV Inkai and higher realized prices and deliveries in our uranium segment.

Westwater Resources, Inc. (NASDAQ: WWR) is focused on developing energy-related materials. The Company's battery materials projects include lithium mineral properties in three prospective lithium brine basins in Nevada and Utah and now with the acquisition of AGC, the Coosa Graphite Project and the associated Coosa Graphite Mine located across 41,900 acres in east-central Alabama. WWR's uranium projects are located in Texas, New Mexico and the Republic of Turkey. On May 14th, 2018, the Company announced its results for the first quarter of fiscal year 2018, and also discussed its business outlook and its energy materials business development in 2018. The Company continued to maintain its uranium properties on standby, in anticipation of improved uranium prices. Work continues to complete reclamation at Rosita in Production Areas 1 & 2 and well-field reclamation at Vasquez. In New Mexico, the Company published a new technical report outlining resources on its property holdings at Ambrosia Lake. The Company's Temrezli uranium property in Turkey, with estimated operating costs in the lowest quartile world-wide, is also being maintained on standby.

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. NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Deposit in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. Earlier this year, the Company reported assay results for the final 28 holes from its summer 2018 drill program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan. A1 shear with a geotechnical test hole and will be followed up during the winter 2018 drill program.

Alexco Resource Corp. (NYSE: AXU) owns 100% of the high-grade Keno Hill Silver District in Canada's Yukon. Recently, the Company announced that its wholly owned U.S. subsidiary, Alexco Water and Environment Inc., entered into a Master Services Agreement with Colorado Legacy Land LLC to become the Operator of Responsible Charge for the Schwartzwalder Mine and the former Cañon City Uranium Mill reclamation and cleanup projects located approximately 45 miles northwest and 115 miles south of Denver, respectively. The two projects comprise a total of approximately 3,300 acres of freehold land which are subject to a mine reclamation permit and radiation materials licenses.

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