Anfield Nickel Corp. Announces Closing of C$22 Million Financing

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

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Feb. 28, 2012) - 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.

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.



Contact Information

Anfield Nickel Corp.
David Strang
604-646-1899
604-687-7041 (FAX)
www.anfieldnickel.com