American Vanadium Corp. Announces NI ?43-101 Technical Report & Increased Resource Estimate for the Gibellini Vanadium Project

AMERICAN VANADIUM CORP. ('American Vanadium? or the 'Company?) (TSX.V:
AVC) (PINKSHEETS: RMRCF) has released and filed its National Instrument
43-101 compliant Technical Report to support the press release of
September 12, 2011 entitled "American Vanadium Corp. Announces Positive
Feasibility Study for Gibellini Vanadium Project′.

The Company′s National Instrument 43-101 Standards of Disclosure for
Mineral Projects ('NI 43-101?) Technical Report was prepared by AMEC E&C
Services, Inc. ('AMEC?) of Sparks, Nevada. AMEC is independent of
American Vanadium and approved the content of the press release dated
September 12, 2011, summarizing the results of the Feasibility Study.

The Feasibility Study was prepared using CIM definitions for mineral
resources as required by NI 43-101 Standards. All dollar values are
expressed in US dollars unless otherwise noted.

In addition to the Feasibility Study, the Technical Report includes an
increased inferred resource. This estimate is based on a total of
approximately 51,265 feet of drilling from 280 drill holes completed by
both the Company and historical operators. The inferred resource for the
Gibellini Project was increased by 41 million pounds of V₂O₅
by including the Louie Hill deposit which is adjacent to Gibellini Hill.

American Vanadium intends to conduct both in-fill drilling and further
metallurgical testing on the Louie Hill deposit aiming to upgrade this
resource. Additionally, significant exploration potential remains in the
project area. American Vanadium′s recent geochemical survey has
identified three vanadium oxide anomalies in rock and soils, each of
which is being assessed for exploration.

The Technical Report is filed and available on SEDAR at www.sedar.com
and on the Company′s website at www.americanvanadium.com.

This press release has been reviewed and approved by Alan Branham, a
Director of the Company, who is a member of the American Institute of
Professional Geologists (CPG#10979), is a Certified Professional
Geologist, and is a Qualified Person as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects. Field work has been
conducted by American Vanadium employees and contractors and by AMEC.

About AMEC plc

AMEC plc is a focused supplier of high-value consultancy, engineering
and project management services to the world′s natural resources,
nuclear, clean energy, water and environmental sectors. With annual
revenues of over  ?2.5 billion, AMEC designs, delivers and maintains
strategic and complex assets for its customers. The company employs over
21,000 people in around 40 countries worldwide.

About American Vanadium Corp.

American Vanadium is currently developing the Gibellini Project, a
vanadium deposit located in Nevada, USA. Vanadium is a critical alloying
metal used to strengthen steel and is also growing in importance in the
emerging uses of mass energy storage and next generation
lithium-vanadium batteries. The Company′s Gibellini Vanadium Project is
unique in its ability to have economic production of vanadium for the
steel and alloying industries as well as vanadium electrolyte for the
mass storage industry.

ON BEHALF OF THE BOARD

Bill Radvak, President and CEO

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-Looking Statements: This press release contains
'forward-looking information? within the meaning of applicable Canadian
securities laws, including statements regarding the expected use of
proceeds from the Private Placement, and future plans and objectives for
the Gibellini Project. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking information.
Forward-looking information includes estimates of mine production rates
and mine life, revenues from future mining operations, capital and
operating costs, and pay-back period.Factors that may cause
actual results to vary include, but are not limited to, actual results
of current exploration activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future
prices of vanadium; possible variations in reserves, grade or recovery
rates; changes to capital and operating cost estimate, delays in
obtaining governmental approvals or financing or in the completion of
development or construction activities. Although American Vanadium has
attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. American Vanadium does not undertake to update any
forward-looking statements, except in accordance with applicable
securities laws.

For further information:

American Vanadium

Bill Radvak,
604-488-5417

President and CEO

bradvak@americanvanadium.com

or

Mike
Hyslop, 604-488-8795

Director, Corporate Development

mhyslop@americanvanadium.com

or

Web
site: www.americanvanadium.com