Sino Vanadium Restates Financials and MD&A for the Years Ended December 31, 2008 and 2009 and the Quarter Ended March 31, 2010

Sino Vanadium Inc. (TSX VENTURE:SVX), a late-stage vanadium play focused on the production of vanadium-pentoxide (V205), today announced the Company has restated its financial statements and Management Discussion and Analysis (MD&A) for the years ended December 31, 2008 and 2009 and the quarter ended March 31, 2010.

The press release is quoted as saying:

The restatement of the Company’s consolidated financial statements resulted from management’s identification of non-cash accounting errors in its December 31, 2009 and December 31, 2008 annual consolidated financial statements and its March 31, 2010 interim financial statements. The corrections relate to the Company’s reporting of mineral property acquisition and future income tax liabilities in compliance with CICA Handbook Section 3465 – Income Taxes.

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