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ANF

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Share Name Share Symbol Market Type
TSXV:ANF TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Anfield Announces Closing of C$22 Million Financing

28/02/2012 5:42pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Anfield Nickel Corp. (TSX VENTURE:ANF) (the "Company") is pleased to announce
that it has closed both its previously announced brokered and non-brokered
private placements of common shares totaling gross proceeds of C$22,100,000. The
Company issued a total of 5,200,000 common shares at a price of C$4.25 per
common share. The brokered private placement was completed pursuant to an
agreement with Raymond James Ltd. and a syndicate of agents, including Canaccord
Genuity Corp. and Salman Partners Inc. (collectively, the "Agents"). The Agents
received a commission of 6% of the gross sales of the 1,670,000 common shares
that were the subject of the brokered private placement.


A 6% finder's fee was payable on a portion of the non-brokered private
placement, but no finder's fee was payable in respect of the 1,765,000 common
shares purchased by Lumina Capital Limited Partnership as part of the
non-brokered private placement.


All shares issued pursuant to the brokered and non-brokered private placements
will be subject to a hold period until June 29, 2012. The issuance of the shares
pursuant to the brokered and non-brokered private placements is subject to the
approval of the TSX Venture Exchange.


The net proceeds from the placements will be used to fund the ongoing
exploration program at the Company's Mayaniquel nickel project, to repay amounts
owed to Lumina Capital Limited Partnership and for general corporate purposes.


The brokered portion of the private placement was made in such jurisdictions as
was agreed to between the Company and the Agents, and is subject to the approval
of regulatory authorities. The securities offered have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be
unlawful.


Anfield Nickel Corp.

David Strang

CAUTION REGARDING FORWARD LOOKING INFORMATION: Information and statements in
this news release that are not historical facts are "forward-looking
information" within the meaning of the applicable Canadian securities
legislation. This news release contains forward-looking information such as
estimates and statements that describe Anfield's future plans, objectives or
goals, including words to the effect that Anfield or management expects a stated
condition or result to occur. Generally, this forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain actions, events or
results "may", "can", "could", "would", "might" or "will", "occur" or "be
achieved". Examples of forward-looking information in this news release include,
but are not limited to statements with respect to Anfield's estimated use of
proceeds from the offering.


Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of Anfield Nickel Corp. to be materially different
from those expressed or implied by such forward-looking information, including
but not limited to: risks related to the exploration and potential development
of Anfield's Mayaniquel project, changes in project parameters as plans continue
to be refined, uncertainty regarding the timing of events including the
completion of an updated mineral resource estimate and prefeasibility study, and
uncertainties as well as those factors discussed in the sections relating to
risk factors of our business filed in Anfield Nickel Corp.'s required securities
filings on SEDAR. Although Anfield Nickel Corp. has attempted to identify
important factors and risks that could cause actual results to differ materially
from those contained in forward-looking information, there may be other factors
that cause results to be materially different from those anticipated, described,
estimated, assessed or intended.


There can be no assurance that any forward-looking information will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. Anfield Nickel Corp. does not undertake
to update any forward-looking information that are incorporated by reference
herein, except in accordance with applicable securities laws.


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