Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).

Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.

George Glasier, Western's CEO stated: "This Agreement strengthens Western's strategic position and accelerates our generation of revenues, while rewarding shareholder investments that have yielded our current stockpiles. The collaboration with Energy Fuels provides synergies and leverage for both companies, while the North American nuclear fuel supply chain benefits from expedited near-term production of uranium resources."

Warrant Repricing
Further to the news release issued by the Company on November 29, 2024, Western announces that a total of 2,868,541 previously issued common share purchase warrants (the "Warrants") have been repriced and are now exercisable at CAD$2.00 per share. The Company received consents from all holders of Warrants and filed an amended Form 13 dated February 27, 2025 under its profile on the Canadian Securities Exchange ("CSE") website. As previously announced, the term of the Warrants was extended with all Warrants now expiring on January 20, 2026. All other terms of the Warrants remain unchanged. In accordance with the CSE rules, no compensation warrant was repriced or extended. Western will not issue replacement Warrant certificates. The originally issued Warrant certificates will be utilized for any such exercises. Please refer to Western's news release issued on November 29, 2024 for additional details.

About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics.

Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" 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 the Offering and 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.sedarplus.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.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT :
Grant Glasier
Vice President Marketing and Project Development
303-808-3306
grantg@western-uranium.com

George Glasier
President and CEO
970-864-2125
gglasier@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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Near-term Uranium and Vanadium Producer

Western Uranium & Vanadium Advances Mustang Mineral Processing Site to Bolster Regional Production

Western Uranium & Vanadium Advances Mustang Mineral Processing Site to Bolster Regional Production

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to provide an update of its operational strategy and ongoing developments at the  Mustang Mineral Processing Site and Maverick Minerals Processing Site, positioning the Company as a key player in the regional uranium and vanadium processing sector.

In October 2024, Western successfully acquired the Mustang Mineral Processing Site (formerly the Pinon Ridge Mill Site), a move that significantly enhances the Company's capabilities and processing infrastructure. The acquisition includes all historical data and equipment utilized for the site's previous successful licensing application. The Colorado Department of Public Health and Environment (CDPHE) has issued a license for this facility twice, underscoring the site's compliance with stringent regulatory requirements. This site is located approximately 25 miles from Western's Sunday Mine Complex mining operations in Colorado.

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Western Uranium & Vanadium Recaps 2024 Milestones and Highlights

Western Uranium & Vanadium Recaps 2024 Milestones and Highlights

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to provide a summary of its 2024 accomplishments as it ramps up uranium and vanadium production capacity and throughput.

Enhanced Mining Capability
Western has significantly enhanced its mining capabilities through various strategic initiatives. These include expanding its workforce by recruiting senior technical and mining staff, upgrading its fleet with additional mining equipment and vehicles, and addressing other staffing and supply chain challenges. Downtime has been reduced by expanding the maintenance shop, hiring more mechanics, and improving supply chain management. Infrastructure upgrades, such as extending utilities deeper into the mine and completing underground rehabilitation, have greatly increased accessible future development areas. Efficiency improvements, including installing push plates on loaders, increasing water truck capacity, and deploying a jumbo drill, have positioned Western for greater productivity.

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Western Uranium & Vanadium Provides Sunday Mine Complex Update

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to provide the following update.

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Western Uranium & Vanadium Provides Company Updates

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to provide the following updates on the advancement of its resource properties and the inclusion of its common shares into uranium sector indices and exchange traded funds (ETFs).

Sunday Mine Complex Project Update
The team has completed its first three weeks on the resumption of mining activities at the Sunday Mine Complex. As the base of operations was moved from the St. Jude Mine into the Sunday Mine, significant underground refurbishment has taken place. Currently, the mines are partially ventilated, and power will be upgraded to increase ventilation. The project is operating well and on schedule with underground development projected to begin within one week. After upgrading explosives capabilities, the team will begin underground drifting of the last ~150 feet to complete access to the GMG uranium ore body which wasn't completed when Denison Mining shut down operations during the last uranium bull market.  Following development activities, limited ore production from this target area is anticipated.

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Western Uranium & Vanadium Announces Mining Restart at the Sunday Mine Complex

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to announce that it is preparing for the resumption of mining activities at the Sunday Mine Complex ("SMC"). This action is driven by COVID-19 risks declining and the improved fundamentals and outlook for uranium and vanadium commodities. The Sunday Mine, West Sunday Mine, St. Jude Mine, and Carnation Mine, which are interconnected, will be moved into Active Status from Temporary Cessation. This project which began in 2019 will shift its base of operations from the St. Jude Mine to the Sunday Mine. The team will be targeting these different areas with development drilling, development mining, and ore production.

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