Anfield Announces Positive Results of Prefeasibility Study on

Anfield Announces Positive Results of Prefeasibility Study on
Mayaniquel Nickel Project 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/24/12 -- Anfield
Nickel Corp. ("Anfield") (TSX VENTURE:ANF) is pleased to announce the
results of a Prefeasibility Study (the "PFS") on its 100% owned
Mayaniquel nickel project located in northeastern Guatemala (the
"Project"). The results of the PFS, which has considered
significantly higher mining and processing rates (average 36,500
tonnes per year of nickel over the life of the mine) due to the
addition of a second rotary kiln electric arc furnace unit in the
fifth year of production compared to the 2011 Preliminary Economic
Assessment ("PEA") (average 19,900 tonnes per year of nickel),
demonstrates that a ferronickel operation at Mayaniquel is
economically viable and the Project should be advanced to a
feasibility study. Highlights of the study's various estimates are as
follows (all dollar figures in US dollars):  
Highlights 


 
--  Robust project economics driven by a higher grade starter pit (plant
    feed grade of 1.86% nickel for first 3 years of operation), low strip
    ratio (0.4:1), positive metallurgy (average nickel recoveries of 90%),
    large reserve base and good existing infrastructure. 
 
--  Base case ("Base Case") net present value ("NPV") of $1.39 billion, at
    an 8% discount rate, and an internal rate of return ("IRR") of 19.9%
    (compared to an NPV of $606 million and IRR of 14.1% in the PEA). 
 
--  The Base Case assumes a long term nickel price of $8.50/lb, a $0.18/lb
    contained iron credit, $0.08/kWh power cost and $113/tonne long term
    coal price (including freight). 
 
--  An upside case (the "Analyst Case") based upon the consensus long term
    nickel price of $8.94/lb nickel as forecast by 23 banking analysts was
    also considered. Under the Analyst Case, the net present value for the
    Project increases to $1.58 billion at an 8% discount rate, and an IRR of
    21.2%. 
 
--  The Project contains proven mineral reserves of 6.7 million tonnes
    grading 1.57% nickel, and probable mineral reserves of 63.2 million
    tonnes grading 1.39% nickel - for total proven and probable reserves of
    69.9 million tonnes grading 1.41% nickel. 
 
--  Average Life of Mine ("LOM") n
ickel in ferronickel production will be
    36,500 tonnes per year for 22 years with an average nickel in
    ferronickel grade of 22.5%. Production will peak in year 9 with 42,800
    tonnes of nickel in ferronickel produced following the commissioning of
    a second furnace in year 5. 
 
--  C-1 LOM cash costs (net of iron credits) estimated to average $3.05 per
    pound of nickel sold ($3.14/lb nickel in the PEA). 
 
--  Initial capital of $946 million and total LOM sustaining capital of $1.1
    billion (compared to initial capital of $1.23 billion and total
    sustaining capital of $200 million in the PEA). The increased sustaining
    capital is due principally to the addition of a second 80MW rotary kiln
    electric arc furnace unit and associated infrastructure and equipment to
    the processing plant in the fifth year of production ($533 million). 
 
--  Capital payback (initial and the capital for the second furnace) is
    expected to be in 5.3 years after production begins. 
 
--  The Project is expected to generate approximately 800 permanent jobs at
    the start of production and an additional 150 permanent jobs once the
    second furnace unit is commissioned in year 5 for a total of 950
    permanent jobs. During the initial 3 year construction period, 1,000
    direct jobs will be generated with another 700 direct jobs required for
    the construction of the second furnace unit in years 3 and 4. 
 
--  The Project will potentially generate $2.3 billion in taxes and
    government royalties payable to the Guatemalan government. 

 
The salient details of the PFS are summarized in the table below (all
dollar figures are in US dollars): 


 
----------------------------------------------------------------------------
                                    Prefeasibility Study                 PEA
----------------------------------------------------------------------------
NPV (8% discount rate)                    $1,387 million        $606 million
----------------------------------------------------------------------------
IRR                                                19.9%               14.1%
----------------------------------------------------------------------------
Nickel price                                    $8.50/lb            $8.25/lb
----------------------------------------------------------------------------
By-production iron credit                  $0.18/lb iron       $0.19/lb iron
----------------------------------------------------------------------------
Initial Capital Expenditure                 $946 million      $1,224 million
----------------------------------------------------------------------------
LOM Total Sustaining Capital                                                
 Expenditure                                $1.1 billion        $199 million
----------------------------------------------------------------------------
LOM C-1 Cash Costs (net by-product                                          
 credits)                               $3.05/lb Ni sold    $3.14/lb Ni sold
----------------------------------------------------------------------------
Rotary Kiln Electric Arc Furnace                                            
 Capacity                                        2x 80MW             1x 80MW
----------------------------------------------------------------------------
LOM Annual Mining Rate               3.30 million tonnes 1.33 million tonnes
----------------------------------------------------------------------------
Strip Ratio (excluding sorting plant                                        
 rejects)                                          0.4:1              0.35:1
----------------------------------------------------------------------------
Mine Life                                       22 years          29.5 years
----------------------------------------------------------------------------
Average grade of material delivered                                         
 to plant                                       1.68% Ni            1.68% Ni
----------------------------------------------------------------------------
LOM average annual nickel in                                                
 ferronickel production                    36,500 tonnes       19,900 tonnes
----------------------------------------------------------------------------

 
Note: The 2011 PEA is preliminary in nature and includes the use of
inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that
would enable them to be categorized as mineral reserves. Thus, there
is no certainty that the PEA will be realized. Actual results may
vary, perhaps materially. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. 
Anfield will host a conference call on Wednesday October 24th, 2012
at 11:00 am (Pacific Time) or 2:00 pm (Eastern Time) to discuss these
results. Call-in information is provided at the end of this news
release.  
The PFS was supervised by Mr. Neil Prenn, P.E., an independent
qualified person. Mr. Prenn has reviewed and approved the contents of
this news release. The PEA was managed by MTB Project Management
Professionals, Inc. (p
roject management, infrastructure, ancillary
capital and operating costs and cash flow modeling) and comprised
several studies prepared by: SIM Geological Inc. and BD Resource
Consulting, Inc. (resource estimate and model, quality assurance,
quality control program); Neil Prenn, P.E. President of Mine
Development Associates, (reserve estimate, mine plan, production
schedule, and mining capital and operating costs); Dr. Nic Barcza,
PrEng., (metallurgical consultant); Laser Analytical Systems &
Automation GmbH (ore sorting test work); IGEO Mineracao Inteligente
(pilot plant test work, process engineering, infrastructure, plant
capital and operating costs); MineSense Technologies (ore upgrading
test work, pilot-scale upgrading test work, pilot- and upgrading
plant design); Ausenco Vector (geotechnical facilities, port
facilities, and capital and operating costs); Gochnour & Associates,
Inc. (environmental studies); and Social Capital Group (socioeconomic
studies).  
The National Instrument 43-101 ("NI 43-101") technical report
summarizing the results of the PFS will be available on the Company's
website (www.anfieldnickel.com) and SEDAR (www.sedar.com) by December
8, 2012. 
The following consultants will serve as qualified persons for their
respective sections of the PFS technical report:  


 
--  Robert Sim, P. Geo. of SIM Geological Inc. 
--  Bruce Davis, FAusIMM of BD Consulting, Inc. 
--  Dr. Nic Barcza, HLF SAIMM 
--  Neil Prenn, P.E. of Mine Development Associates. 

 
Each of the above qualified persons is independent of Anfield within
the meaning of NI 43-101. 
Project Economics 
MTB Project Management Professionals, Inc. developed a cash flow
valuation model for the Project based upon the geologic and
engineering work completed to date. The Base Case was developed using
a long term forecast nickel price of $8.50/lb. This price forecast is
lower than the consensus long term forecast of approximately $8.94/lb
nickel made by 23 banking analysts. In addition, a by-product credit
of $0.18/lb iron contained within the ferronickel product has been
included in the Base Case.  
The following table shows the NPV of the Base Case and the Analyst
Case at various discount rates: 


 
----------------------------------------------------------------------------
                                               NPV                      NPV 
Discount Rate (Real)                    (Base Case)           (Analyst Case)
----------------------------------------------------------------------------
0%                                   $5,375 million           $5,908 million
----------------------------------------------------------------------------
4%                                   $2,740 million           $3,052 million
----------------------------------------------------------------------------
6%                                   $1,957 million           $2,202 million
----------------------------------------------------------------------------
8%                                   $1,387 million           $1,582 million
----------------------------------------------------------------------------
10%                                    $967 million           $1,124 million
----------------------------------------------------------------------------
12%                                    $654 million             $783 million
----------------------------------------------------------------------------

 
The following chart shows the sensitivity of the Base Case's NPV (8%
discount rate) and IRR to changes in the nickel price:
http://media3.marketwire.com/docs/anf-1024-chart1.pdf. 
Mineral Resources and Reserves 
Mine Development Associates used an updated mineral resource estimate
(effective date of March 22, 2012) completed by Sim Geological Inc.
and BD Resource Consulting, Inc. and the corresponding block model,
to estimate the Project's mineral reserves and develop the mine plan
and production schedule for the Project.  
The Project's mineral reserves and mine plan were estimated using
only those mineral resources contained within the measured and
indicated categories. Inferred resources were treated as waste where
applicable.  
Floating cone analyses were used to determine the extent of laterite
mining areas and the best sequence for economic development. The
floating cone analysis, based on a nickel price of $5.00/lb, defined
the mineral reserves, which were subsequently adjusted to conform to
current concession boundaries. The resulting pit limits were then
used to estimate the Project's mineral reserves, total waste of 27.6
million tonnes, mine plan and production schedule. This mine plan
resulted in a LOM stripping ratio of 0.4:1.  
The updated mineral resource estimate (at a 1% nickel cutoff grade)
and mineral reserve estimate are shown in the table below: 


 
----------------------------------------------------------------------------
       Mineral Resources(1)(2)                Mineral Reserves(1)(3)        
----------------------------------------------------------------------------
                            Contained                              Contained
                                   Ni                                     Ni
             Tonnes Ni Grade (million               Tonnes Ni Grade (million
Category     ('000)      (%)     lbs) Category      ('000)      (%)     lbs)
----------------------------------------------------------------------------
Measured(2)                                                                 
--------------------------------------                                      
Transition                                                                  
 &                                                                          
 Saprolite    4,176     1.80    165.4                                       
--------------------------------------                                      
Limonite      2,350     1.23     63.8                                       
----------------------------------------------------------------------------
Total                                                                       
 Measured     6,526     1.59    229.2 Proven(3)      6,689     1.57    231.0
----------------------------------------------------------------------------
Indicated(2)                                                                
--------------------------------------                                      
Transition                                                                  
 &                                                                          
 Saprolite   48,556     1.47  1,575.5                                       
--------------------------------------                                      
Limonite     21,752     1.17    560.9                                       
----------------------------------------------------------------------------
Total                                                                       
 Indicated   70,307     1.38  2,136.4 Probable(3)   63,200     1.39  1,938.1
----------------------------------------------------------------------------
Measured + Indicated(2)                                                     
--------------------------------------                                      
Transition                                                              
    
 &                                                                          
 Saprolite   52,731     1.50  1,740.8                                       
--------------------------------------                                      
Limonite     24,102     1.18    624.7                                       
----------------------------------------------------------------------------
Total                                                                       
 Measured                                                                   
 +                                    Proven +                              
 Indicated   76,833     1.40  2,365.5 Probable(3)   69,889     1.41  2,169.0
----------------------------------------------------------------------------
Inferred(4)                                                                 
--------------------------------------                                      
Transition                                                                  
 &                                                                          
 Saprolite   31,282     1.39    958.1                                       
--------------------------------------                                      
Limonite     10,504     1.16    268.5                                       
--------------------------------------                                      
Total                                                                       
 Inferred    41,786     1.33  1,226.6                                       
----------------------------------------------------------------------------
                                                                            
Notes:  (1)  Mineral reserves have been estimated as at August 28, 2012.    
             Mineral resources have been estimated as at March 22, 2012.    
             Totals may not add up due to rounding.                         
        (2)  Mineral resources presented herein include amounts that have   
             been identified as mineral reserves. Mineral resources that are
             not mineral reserves have no demonstrated economic viability.  
        (3)  Mineral reserves presented herein have also been identified    
             herein as mineral resources.                                   
        (4)  Inferred mineral resources have a great amount of uncertainty  
             as to their existence and as to whether they can be mined      
             legally or economically. It cannot be assumed that all or any  
             part of inferred mineral resources will ever be upgraded to a  
             higher category.                                               

 
The Program's quality assurance/quality control (QA/QC) program is
monitored by independent consultant Dr. Bruce M. Davis, FAusIMM of BD
Consulting, Inc. Logging and sampling are completed at Anfield's
secure facility located at the project. Drill core is mechanically
split on site with sample preparation completed at a facility at
Anfield's exploration compound. Samples are prepared in accordance
with ALS Chemex's standards with pulps subsequently shipped to their
laboratory in Vancouver, Canada for X-Ray Fluorescence Spectroscopy
analysis, the common analytical technique used in nickel laterite
exploration. Quality from the on-site sample preparation lab is
monitored by an independent, rigorous program including pulp and
coarse-reject duplicates and analyzing cleaning materials from the
crusher and pulverizer units to assure contamination-free sample
processing. Anfield also inserts blanks and standards selected on a
random basis into the sample stream and sends 5% of the sample pulps
to a check laboratory in Vancouver, Canada. The results of this QA/QC
program indicate that the Program's database of sampling, analytical
and test data is of sufficient accuracy and precision to be used for
the generation of mineral resource and mineral reserve estimates. 
Mining & Processing 
The Project will utilize conventional open pit mining methods and
production is scheduled to mine approximately 9,000 tonnes per day
(3.30 million tonnes per year) of lateritic ore to the plant for 22
years. Twenty four percent of the mined ore will be delivered
directly to the processing plant, while the remaining mined material
(2.5 million tonnes per year) will be sent to the upgrading plant,
where low nickel grade and high iron material will be rejected,
thereby providing the processing plant with a total average feed
grade of 1.68% nickel LOM (1.85% average nickel grade over the first
3 years of production). The plant feed will be sent to a double line
rotary kiln where it will be dried, calcined and partly pre-reduced
with the addition of coal prior to being fed into one of two 80MW
electric arc smelting furnaces and subsequent refining furnaces to
produce the ferronickel product (for the first four years of
operation, the plant will operate with a single line rotary kiln and
furnace). The processing plant is forecast to produce approximately
162,000 tonnes per year of ferronickel over the mine's life
containing approximately 36,500 tonnes of nickel at an average grade
of 22.5% nickel at an average nickel recovery rate of 90%.  
Capital Cost Estimates 
IGEO Mineracao Inteligente, MTB Project Management Professionals,
Inc., Ausenco Vector, MineSense Technologies and Mine Development
Associates developed capital cost estimates for the proposed mining
and ferronickel operation. The mine will start operating with one of
the two 80MW rotary kiln electric arc furnace units built. In year 3,
construction of the second 80MW rotary kiln electric arc furnace unit
will start with production commencing from that furnace unit in year
5. The following table summarizes the capital cost estimates in the
PFS for the Project: 


 
----------------------------------------------------------------------------
Direct Capital Costs                                          $501.2 million
----------------------------------------------------------------------------
Indirect Capital Costs                                        $103.3 million
----------------------------------------------------------------------------
Owner Direct and Indirect Capital Costs                       $166.5 million
----------------------------------------------------------------------------
Other incl. 13% contingency                                   $175.1 million
----------------------------------------------------------------------------
                                              Total           $946.1 million
----------------------------------------------------------------------------
Startup Working Capital                                         $9.7 million
----------------------------------------------------------------------------
Capital costs for 2nd 80MW rotary kiln electric arc                         
 furnace unit and associated capital costs                    $533.0 million
----------------------------------------------------------------------------
LOM Sustaining Capital Costs                                  $577.2 million
----------------------------------------------------------------------------

 
The capital cost estimates have been compiled with an accuracy level
of -15% to +25%.  
Operating Cost Estimates 
The results of the PFS show that a mine at the Project will be a low
cost operation, with operating costs potentially averaging in the
lower quartile of the industry cost curve(1). The Project benefits
significantly from the low strip ratio, relatively easy terrain,
positive metallurgy, and close proximity to major infrastructure.
Based upon a comprehensive study of future power supply in Guatemala
that has estimated long term power costs of between $0.06 and
$0.09/kWh, the Base Case has assumed a long term power cost of
$0.08/kWh. In addition, long term coal prices used in the Base Case
were assumed to be $113/tonne (including freight). The PFS estimates
that the C-1 cash costs (net of iron c
redits) over the life of the
mine will average $3.05 per pound of nickel sold. C-1 cash costs
include at-mine cash operating costs, royalties (BHP Billiton and
government), mine reclamation and closure costs, and ferronickel
transportation and freight costs
(http://media3.marketwire.com/docs/anf-1024-chart2.pdf). 
(1) Per nickel mining industry operating costs forecast for 2010
contained in Roskill's Information Services Ltd report - Nickel:
Market Outlook to 2014 (Twelfth Edition, 2010). 
Infrastructure 
Substantial regional infrastructure is in place within the vicinity
of the Project. The Project is located within 70 kilometers of the
Caribbean Sea and 166 kilometers by road from the largest port in
Guatemala, Santo Tomas, thus facilitating the exportation of
ferronickel and importation of coal and other consumables. In
addition, major power infrastructure is within two kilometres of the
Project. The local labour force is large and while not versed in
mining and nickel processing, provisions have been made in the
capital cost estimate to train the local labour force, with the
assumption that labour drawn from within Guatemala will ultimately
manage and operate the mine and plant facilities.  
Environmental 
The Project has been designed to meet World Bank Guidelines for
social and environmental management practices. Baseline studies
completed to date have included surface water quality,
meteorological, air quality, noise, archaeological, social context
analysis, stakeholder mapping, community health, community census,
land-use, biological (flora and fauna) and re-vegetation studies. As
the nickel deposits are largely soil based, mine waste material will
be largely overlying topsoil and low grade limonitic soils.
Provisions have been made within the mine plan and operating costs to
account for the storage of both the topsoil and low grade limonitic
soils and the recontouring and re-vegetation of mined areas with
these soils once the deposits have been mined. It is expected that
this process will allow the mined areas to largely return to their
pre-mined state of vegetation.  
Three Environmental Impact Assessments ("EIA") have been completed in
support of the Exploitation Licence applications for the Project's
mining areas (Sechol, Tres Juanes and Amanecer) and have been
submitted to the Guatemala Ministry of Environment ("MARN"). The
Sechol EIA was approved by the MARN in 2011 and the Tres Juanes and
Amanecer EIA's were submitted to the MARN in October 2012. 
Exploitation Licence Applications 
Anfield has submitted three exploitation licence applications for the
Project's mining areas to the Guatemala Ministry of Energy of Mines
("MEM"). Upon approval, the exploitation licences, which encompass
all of the planned mining areas, will allow the Company to mine the
mineral reserves for a period of 25 years from the time of approval
with an option to renew the licence for an additional 25 year period.
No date has been set for the approval of the exploitation licences
but the Company expects them to be approved prior to the completion
of a feasibility study on the Project.  
Next Steps 
With the completion of the PFS, Anfield is focused on working with
the MARN to gain approval of the Tres Juanes and Amanecer EIAs and
with the MEM to obtain approval for the exploitation licences.  
A feasibility study will be initiated on the Project once Anfield has
determined all of the necessary work requirements to complete the
study, including infill drilling meterage required to convert
inferred resources to the measured and indicated categories,
additional metallurgical test work and the other engineering,
logistics and infrastructure studies. 
Anfield will also continue to work with the local communities and
stakeholders around the Project focusing on further developing the
environmental and social programs it has operating in the area. 
Conference Call 
Call-in details for the conference call to be held on October 24 at
11:00am (Pacific Time) are: 
North American toll-free: 1-888-789-9572 
International: 1-416-695-7806 
Participant Code: 1132147 
A replay of this conference call will be available from Wednesday,
October 24 until Wednesday, November 7 and will be posted on
Anfield's website at www.anfieldnickel.com. The replay numbers are: 
North American toll-free: 1-800-408-3053  
International: 1-905-694-9451  
PIN: 7473353 
Anfield Nickel Corp. 
David Strang, Chairman 
CAUTION REGARDING FORWARD LOOKING STATEMENTS:  Information and
statements contained in this news release that are not historical
facts are "forward-looking information" or "forward-looking
statements" within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995, respectively, and involve risks and
uncertainties. Examples of forward-looking information and statements
contained in this news release include, information and statements
with respect to:  


 
--  The PFS and PEA; 
--  Anfield's plans and expectations for the Project; 
--  the results of the economic analysis of the Project, including, but not
    limited to, base case parameters and assumptions, base case analysis,
    forecasts of net present value, internal rate of return, upfront capital
    costs, sustaining capital costs, capital payback, operating costs,
    working capital and sensitivity analyses; 
--  Anfield's plans related to mine development and design, operations,
    equipment, and infrastructure; 
--  Anfield's production schedule and life-of-mine estimates; 
--  Anfield's plans related to mining methods, mineral processing, recovery
    methods and ore-upgrading and blending; 
--  nickel price projections and estimates of iron by-product credits; 
--  mineral reserve and resource estimates and assumptions; 
--  Anfield's applications for new exploitation licenses and submission of
    EIAs; 
--  estimates of long term power costs, coal prices, water requirements and
    waste:ore stripping ratios; 
--  industry cost curves; 
--  generation of jobs, taxes and government royalties; 
--  availability of labour in Guatemala and training the local labour force;
--  the results of Anfield's metallurgical testing programs including, but
    not limited to, estimates of recovery rates; 
--  Anfield's plans relating to exploration and development of the project,
    including permitting and regulatory requirements related to any such
    plans; 
--  Anfield's plans to complete additional infill drilling, metallurgical
    test work, other engineering, logistics and infrastructure studies and a
    feasibility study; 
--  Anfield's plans to meet World Bank Guidelines for social and
    environmental management practices; and 
--  Anfield's plans for environmental reclamation. 

 
In certain cases, forward-looking information can be identified by
the use of words such as "estimates", "plans", "expects", "is
expected", "forecast", "designed", "proposed", "scheduled",
"believes", "appears", "likely", "largely", "potential" or
"proposed", or variations (including negative variations) of such
words and phrases or may be identified by statements to the effect
that certain actions, events or results, "may", "could", "should",
"would", "will be" or "shall" be taken, occur or be achieved. 
Various assumptions or factors are typically applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking information and statements. In some instances,
material assumptions and factors are presented or discussed in this
news release in connection with the statements or disclosure
containing the forward-looking information and statements. You are
cautioned that the following list of material factors and assumptions
is not exhaustive. The factors and assumptions include, but are not
limited to, assumptions concerning: nickel prices and iron by-product
credits; cut-off grades; short and long term power and coal prices;
processing recovery rates; mine plans and 
production scheduling;
process and infrastructure design and implementation; accuracy of the
estimation of operating and capital costs; applicable tax and royalty
rates; open-pit design; accuracy of mineral reserve and resource
estimates and reserve and resource modeling; reliability of sampling
and assay data; representativeness of mineralization; accuracy of
metallurgical test work; and amenability of upgrading and blending
mineralization. 
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause
actual events or results to differ materially from those expressed or
implied by the forward-looking statements, including, without
limitation: 


 
--  risks relating to nickel, iron and other mineral price fluctuations; 
--  risks relating to estimates of mineral reserves and resources,
    production, purchases, costs, decommissioning or reclamation expenses,
    proving to be inaccurate; 
--  the inherent operational risks associated with mining and mineral
    exploration, development, mine construction and operating activities,
    many of which are beyond Anfield's control; 
--  risks relating to Anfield's ability to enforce Anfield's legal rights
    under permits or licenses or risk that Anfield will become subject to
    litigation or arbitration that has an adverse outcome; 
--  risks relating to the Project being in Guatemala, including political,
    economic and regulatory instability; 
--  risks relating to the uncertainty of applications to extend and renew
    exploration licenses, applications for new exploration licenses and an
    application for an exploitation license for the Sechol license area; 
--  risks relating to potential challenges to Anfield's right to explore
    and/or develop the project; 
--  risks relating to mineral reserve and resource estimates being based on
    interpretations and assumptions which may result in less mineral
    production under actual circumstances; 
--  risks relating to Anfield's operations being subject to environmental
    and remediation requirements, which may increase the cost of doing
    business and restrict Anfield's operations; 
--  risks relating to being adversely affected by environmental, safety and
    regulatory risks, including increased regulatory burdens or delays and
    changes of law; 
--  risks relating to inadequate insurance or inability to obtain insurance;
--  risks relating to the fact that Anfield's properties are not yet in
    commercial production; 
--  risks relating to the uncertainty as to whether Anfield will acquire
    permitting required to further explore and develop the project and risks
    related to the permitting timelines; 
--  risks relating to fluctuations in foreign currency exchange rates,
    interest rates and tax rates; and 
--  risks relating to Anfield's ability to raise funding to continue its
    exploration, development and mining activities. 

 
This list is not exhaustive of the factors that may affect the
forward-looking information and statements contained in this news
release. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in the
forward-looking information and statements. The forward-looking
information and statements contained in this news release are based
on beliefs, expectations and opinions as of the date of this news
release. For the reasons set forth above, readers are cautioned not
to place undue reliance on forward-looking information. Anfield does
not undertake to update any forward-looking information and
statements included herein, except in accordance with applicable
securities laws. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release. 
Contacts:
Anfield Nickel Corp.
David Strang
Chairman
+ 604 646 1899
+ 604 687 7041 (FAX)
dstrang@anfieldnickel.com
www.anfieldnickel.com
 
 
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