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Sunday Mine Complex Vanadium Project Update from Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp’s Sunday Mine Complex Vanadium Project continues to deliver positive results. The preliminary sampling from the face of the mine workings revealed V2O5 grades ranging from 3% to 14%.

Large quantities of ore were mined to establish expected production grades. Twelve samples were examined from the four mines from 12 areas mined. Vanadium’s average grade was 3.15%.

Development drilling has been ongoing to increase the mine production areas. Development drilling is ongoing and mining of ore has commenced. Ore will be stored in the mines until the needs of the Colorado Division of Reclamation, Mining, and Safety (CDRMS) are fulfilled.

CDRMS issued a letter specifying prerequisite information and construction projects that have to be confirmed before the removal of material (ore) from the Sunday Mine Complex underground workings. The covering of the low-grade ore stockpile has been concluded. Rest of the requirements is ongoing. Ore production will carry on and be stored underground. Ore shipments from the mines will begin after CDRMS’ requirements are met.

Uranium Section 232 Update/United States Nuclear Fuel Working Group

President Trump has not taken 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 form recommendations for reviving and increasing domestic nuclear fuel production via a fuller analysis of national security considerations concerning the whole nuclear fuel supply chain.

This process is presently progressing quickly through the Working Group members and their staff. An unusual amount of resources has been dedicated to this issue as the Working Group includes senior members of the Trump administration and agency heads. Last week, the Working Group conducted a stakeholder roundtable talk in Washington D.C. which comprised representatives from the nuclear sector.

The Working Group is currently assessing the advantages of recommendations and proposals to find solutions to revive the whole nuclear fuel supply chain. The process is planned to close with a report to President Trump on or around October 10th.

Western Uranium & Vanadium Corp’s observation and view are that the stakeholders including the U.S. nuclear fuel cycle are progressively finding common ground and this makes it more likely that substantial support will be passed to protect each stage of the American nuclear fuel cycle.

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