Western Uranium & Vanadium Corp. Update
TORONTO and NUCLA, Sept. 11, 2019 - Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) (“Western” or ”Company”) The Sunday Mine Complex Vanadium Project continues to deliver favorable results. The initial sampling from the face of the mine workings showed V2O5 grades ranging from 3% to 14%. Large quantities of ore were mined to determine expected production grades. Twelve samples were analyzed from the four mines from 12 areas mined. The average grade of vanadium was 3.15%.
Development drilling has been underway to expand the mine production areas. Development drilling continues and mining of ore has started. Ore will be stockpiled in the mines until the requirements of the Colorado Division of Reclamation, Mining and Safety (CDRMS) are completed.
CDRMS issued a letter indicating prerequisite information and construction projects that need to be finalized prior to the removal of material (ore) from the Sunday Mine Complex underground workings. The covering of the low-grade ore stockpile has been completed. The remaining requirements are underway. Ore production will continue and be stockpiled underground. Ore shipments from the mines will commence when the requirements of CDRMS have been met.
Uranium Section 232 Update/ United States Nuclear Fuel Working Group
President Trump did not take any action in the uranium section 232 investigation. Instead in a Presidential Memoranda, the President directed the establishment of the United States Nuclear Fuel Working Group (“Working Group”) to develop recommendations for reviving and expanding domestic nuclear fuel production through a fuller analysis of national security considerations with respect to the entire nuclear fuel supply chain.
This process is currently moving forward quickly through the Working Group members and their staff. An extraordinary amount of resources has been committed to this issue as the Working Group is comprised of senior members of the Trump administration and agency heads. Last week the Working Group held a stakeholder roundtable discussion in Washington D.C. which included representatives from the nuclear industry. The Working Group is now evaluating the merits of recommendations and proposals to identify solutions to reinvigorate the entire nuclear fuel supply chain. The process is scheduled to culminate with a report to President Trump on or about October 10th. Western’s observation and view is that the stakeholders comprising the U.S. nuclear fuel cycle are increasingly finding common ground and this makes it more likely that significant support will be enacted to secure each stage of the American nuclear fuel cycle.
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