TORONTO and NUCLA, Colo., Nov. 28, 2018 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE:WUC) (WSTRF) (“Western” or the ”Company”) wishes to provide an update regarding its announced re-opening of the Sunday Mine Complex (“SMC”) to address shareholder questions with respect to Western’s ore processing. Western is commencing this program with the goals of further defining its large vanadium resource and monetizing that resource. Western is in discussions with a number of large offshore companies who have the existing facilities to recover the vanadium contained in the SMC ore. The worldwide shortage of vanadium is impacting many companies around the world and thus making offtake agreements available for ore production. Initially ore will be shipped to existing offshore processing facilities with a longer term plan to build facilities in the United States. Once the SMC is opened, ore samples will be sent to the various interested parties for testing in their facilities. After testing, Western will negotiate offtake agreements to base load commercial production from the SMC.
As Western advances with its plans for re-opening of the SMC and is able to report on the timing of preparations, anticipated start dates and other milestones, Western will provide shareholders and investors with further updates.
In conjunction with the recent name change which reflects the increased importance of vanadium for the Company and the revised strategic approach to initiating production, Western has made updates to its website and corporate presentation. Further, a replay of George Glasier’s Silver & Gold Summit 2018 presentation has been uploaded to the media section of Western’s website. Please visit the Company website located at www.western-uranium.com for these updates.
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 statement” 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.
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Chief Financial Officer