Western Uranium & Vanadium Sunday Mine Complex Vanadium Project Update

TORONTO and NUCLA, July 24, 2019 - Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) (“Western” or ”Company”) updates the status of the Sunday Mine Complex Vanadium Project. Four of the five Mines at the Sunday Mine Complex have been opened to primarily assess the vanadium resources that were not mined in the past.

After the mining team completed the ventilation requirements and determined the mines were safe to fully enter, Dr. Kaiwen Wu, the Company’s Chief Geologist, located four initial areas where the vanadium readings on the X-Ray Fluorescence analyzer (XRF) were high. Sampling from the face of the mine workings showed V²O⁵ grades ranging from 3% to 14%. The high-grade vanadium zones will now be extensively sampled to determine expected production grades.

In addition to the standalone vanadium zones in the mines, multiple high-grade uranium zones averaging 1% to 2% U³O⁸ have been located. After additional sampling, a drill program will be developed to delineate the first areas to be mined when production commences.

The uranium Section 232 petition filed by several U.S. uranium companies has not yet resulted in a quota or protection for U.S. producers, Western Uranium & Vanadium will be able to compete with the low cost producers worldwide because of its high-grade resources, vanadium and uranium co-products, and developed and permitted mines.

About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of ablation mining technology.

Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com

Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com