Western Uranium & Vanadium Corp. Announces Results of Annual General and Special Meeting

FOR IMMEDIATE RELEASE

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to announce the results of the Company's Annual General and Special Meeting of shareholders (the "Meeting") held in Nucla, Colorado on June 28, 2021.

Proxy votes were cast for common shares representing approximately 42.3% of the issued and outstanding common shares of the Company as at the record date for the Meeting. The shareholders approved all resolutions submitted for their consideration at the Meeting, each such resolution being approved by a margin significantly in excess of a two-thirds of the votes cast for the Meeting.

Election of Directors
At the Meeting, the shareholders elected all of the directors proposed by management of the Company, namely, George Glasier, Bryan Murphy, and Andrew Wilder.

Appointment of Auditor
The shareholders re-appointed MNP LLP as auditor of the Company for the ensuing year, and authorized the Board to fix the auditor's remuneration.

Board Meeting
At a meeting of the newly-elected Board immediately following the shareholders' Meeting, the Board re-appointed Bryan Murphy as Chairman of the Board and re-appointed Andrew Wilder as Chairman of the Audit Committee.

At the same meeting of the Board, the following management appointments were confirmed for the ensuing year: George Glasier, President and Chief Executive Officer; Robert Klein, Chief Financial Officer; and Denis Frawley, Corporate Secretary.


A bout 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 kinetic separation.

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


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Western Uranium and Vanadium

Western Uranium and Vanadium

Overview

Western Uranium and Vanadium Corp. (CSE:WUC,OCTQX:WSTRF) is a near term producer of uranium and vanadium with six uranium-vanadium properties in western Colorado and eastern Utah. The company has also acquired and advanced to a production scale a patent-protected ablation technology that reduces the amount of pre-ablation material to 10 to 20 percent of its mass while maintaining 85 to 95 percent of the mineralization.

Western Uranium and Vanadium’s ablation technology has garnered the attention of many mining companies as it significantly reduces the costs of processing vanadium and uranium from sandstone deposits. In the case where 90 percent of the waste is removed, this technology would also reduce approximately 90 percent downstream processing and transportation costs. Additionally, the process has environmental applications for the remediation and reclamation of waste rock, protore and low-grade stockpiles created from legacy uranium mines.

Western Uranium and Vanadium has assembled a resource portfolio containing a core group of permitted and developed mines that are low CAPEX and OPEX to be brought into production. The company’s primary focus is on its Sunday Mine Complex in Colorado. The property hosts five fully-permitted and developed vanadium-uranium mines that Western Uranium and Vanadium is focusing its efforts to bring back into production in the near term. These mines were last in production in 2009.

As a result of ongoing discussions with several prospective vanadium customers, Western Uranium and Vanadium has initiated the re-opening of the Sunday Mine Complex. This program has been commenced with the goal of providing samples for evaluation in customer’s existing processing facilities and for further definition of the vanadium resource. Once completed, the 2015 technical report is expected to be updated accordingly. The ultimate end goal is to sign an offtake agreement that supports the restart economics to place the mine back into production. It is contemplated that the project can be initiated with the restart of two of the five mines and additional mines can be brought online to support offtake demand.

As Sunday Mine Complex is brought back in operation, Western Uranium and Vanadium intends to work towards bringing additional projects into production funded through the revenue generated at the Sunday Mine Complex. The company’s two other permitted and developed properties, Sage and Van 4, are expected to be the sixth and seventh mines developed and brought into production. Thereafter the company’s focus is expected to shift to the San Rafael, Hansen-Taylor Ranch and Dunn properties which need to enter the permitting phase prior to the development of those projects.

In addition to the low CAPEX and OPEX model that Western Uranium and Vanadium has been founded upon, Western Uranium and Vanadium President and CEO George Glasier brings a wealth of experience in acquiring and moving uranium and vanadium projects into production, having been the founder of Energy Fuels Inc. (TSX:EFR, NYSEMKT:UUUU), a leading producer of uranium and vanadium in the US. Additionally, Glasier notably holds 18 percent of Western’s shares.

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