CleanTech To Acquire Campbell Crotser Fluorspar Pro ject in Kentucky’s Prolific Fluorspar District
CleanTech To Acquire Campbell Crotser Fluorspar Pro ject
in Kentucky’s Prolific Fluorspar District
Vancouver, British Columbia, July 2, 2025 — CleanTech Vanadium Mining Corp.
(“CleanTech ” or the “Company”) (TSX-V: CTV, OTCQB: CTVFF) is pleased to announce that,
through its 100%-owned subsidiary US Fluorspar LLC (“ USF ”), it has entered into a binding option
to purchase agreement ( “OTP”) with an arms-length private party ( “Vendor” ) to acquire the
mineral rights to the Campbell, Crotser, and Swinford parcels totaling approximately 250 acres in
Livingston County, Kentucky, USA (the “Campbell Crotser Fluorspar Project”, or the
“Project” ).
Campbell Crotser Fluorspar Project Summary
The Campbell Crotser Fluorspar Project covers appro ximately 250 acres in Livingston County,
Kentucky, within the heart of the historic Illinois –Kentucky Fluorspar District, a region long
recognized as North America’s most prolific fluorsp ar producing belt. This mineral belt spans
approximately 540 square miles across western Kentu cky and southern Illinois 1. Commercial
mining began in the 1870s, and the region went on t o produce approximately 3.5 million tons of
fluorspar, along with byproducts zinc, lead, and ba rite 2. Fluorspar-rich veins in the region are
hosted in Mississippian-aged limestones, controlled by steep normal faults, and are often
accompanied by sphalerite, galena, and calcite.
The mineralization style is consistent with a Magne to-Hydrothermal Mississippi Valley-Type
system, exhibiting clear structural and stratigraph ic control 3. Vein-type and replacement-style
mineralization along fault breccias and bedding pla nes. Fluorite occurs as coarse-grained vein
infill, with calcite, barite, sphalerite, and galena as common gangue and accessory minerals.
A historic mineral resource estimate performed by B oyce Moodie III in 1974 for Cerro Spar
Corporation on the Campbell Crotser Fluorspar Proje ct following its drill program, reported
805,841 tons grading 37.10% CaF2, 3.23% Zn, and 0.9 9% Pb 4. The key assumptions,
parameters, and methods used to prepare this historical resource estimate are not available. The
Company has not reviewed or validated the historic data, and caution should be taken as a
1 Pinckney, D.M., Mineral Resources of the Illinois-Kentucky Mining District, USGS Prof. Paper 970, p. 6, 1976
2 Denny et al., Mines in the Illinois Portion of the Illinois–Kentucky Fluorspar District, ISGS Circular 604 (2020) –
Production History section citing Anderson & Sparks 2012 (3.5 Mt Kentucky output).
3 Pinckney 1976 (USGS P.P. 970) – sections on structural/stratigraphic ore control and mineral assemblage; plus
Rosiclare Quadrangle report for vein vs. replacement classifications.
4 “Final Geologic Report and Ore Estimate Campbell / Crotser”, Livingston County, Kentucky, dated November 12,
1974, issued by Boyce Moodie III.
qualified person has not done sufficient work to classify these historical resource estimates as a
current mineral resource and the Company is not treating them as a current mineral resource.
“The Campbell Crotser Fluorspar Project is a signif icant Fluorspar project with over 60 historic
drill holes in the heart of America’s historic fluo rspar belt in Kentucky. The district has good
infrastructure and stand-by processing capacities t o expedite project development. We are a
mega firm believer in Fluorspar prospects: this key critical mineral is vital in the production of
nuclear power, lithium batteries, semiconductors, high-voltage electrical switches, refrigerant for
air conditioning, steel and aluminum. We are witnessing a highly-competitive global land-grab of
Fluorspar resources. Through this acquisition, Cleantech is leading the US Fluorspar foray in the
junior mining space” stated Ron Espell, President of the Company.
Fluorspar is Cleantech’s major vertical which compl iments the Company’s Gibellini vanadium
project (“Gibellini”). Gibellini is a strategic vanadium project which received the Record of Decision
from the Bureau Land and Management approving the Gibellini in 2023. The Gibellini vanadium
project covers over 21 kilometers along the strike of the mineralized Woodruff Formation in
Eureka and Nye counties in Nevada with its own water supply.
Proposed Transaction Summary
Under the OTP, the Vendor agrees to sell to Cleantech, and CleanTech agrees to purchase from
the Vendor, the Campbell Crotser Fluorspar Project for a total purchase price of US $2,000,000
(the “ Purchase Price ”), consisting of:
US $75,000 upon OTP signing (paid);
US $75,000 payable on or before the first annivers ary of signing of the OTP, if Cleantech
elects to extend the OTP for an additional 12 months; and
US $1,850,000 due at closing, at which time the ti tle of the Project will be transferred to
the Company.
The Company may elect to exercise the option at any time by paying the Vendor the Purchase
Price less any amount paid under the OTP as of the exercise date.
Further Details of Campbell Crotser Fluorspar Project and Kentucky Fluorspar Belt
The Campbell Crotser Fluorspar Project lies along the Big Creek Fault system, part of the Cave
Creek Graben, a prominent geological structure know n for its strong mineralizing controls. The
project hosts a high-grade fluorspar–zinc–lead resource.
The Campbell Crotser Fluorspar Project is situated within the southern segment of the historically
productive Illinois–Kentucky Fluorspar District, on e of North America's most prolific fluorspar-
producing regions. The Project's geological setting is highly favorable, comprising structurally
prepared Mississippian carbonate rocks intruded reg ionally by alkaline and ultramafic igneous
bodies. These factors together provided the structural and geochemical framework for significant
hydrothermal mineralization.
The primary host rocks are dense, fossiliferous Mer amecian and Chesterian limestones
(Mississippian age), commonly interbedded with shal es and fine-grained sandstones. These
carbonate units are structurally deformed along high-angle normal faults, notably the Big Creek
Fault system, which provided permeability for fluid migration. Regionally, these units are cross-
cut and influenced by igneous activity, particularly related to the Hicks Dome Complex, a regional
structural and magmatic uplift associated with deep -seated mantle-derived intrusions (e.g.,
lamproites, lamprophyres, peridotites) 5.
The mineralization at Campbell Crotser Fluorspar Pr oject is fault-controlled and carbonate-
hosted, exhibiting clear zonation: fluorspar domina tes the upper sections, while zinc content
increases with depth. The formation is interpreted to have originated from fluorine-rich magmatic
fluids migrating along regional fault systems. As these fluids encountered carbonate rocks, they
dissolved portions of the host limestone, leading to the precipitation of fluorspar along faults and
bedding planes. This mechanism is characteristic of the broader district and reflects a classic
Mississippi Valley-Type environment with hydrothermal and magmatic influences.
In addition, the project benefits from proximity to rail infrastructure 6 and nearby zinc processing
facilities 7, with both water and electricity readily accessibl e — offering significant logistical and
development advantages.
According to the United States Geological Survey (the ‘USGS ”), the district is geologically unique
due to its combination of structural complexity and igneous activity. More than 45 alkaline and
ultramafic intrusions, including dikes, diatremes, and sills, are present across the region. These
likely contributed to the heat and fluid flow that drove mineralization. A particularly significant
feature is nearby Hicks Dome, located in Hardin County, Illinois, roughly 25 miles northeast of the
Campbell Crotser Fluorspar Project. Hicks Dome is a 2-mile-wide structural uplift with deep-rooted
igneous breccias and rare-earth element (“REE”) pot ential8. It is considered the hydrothermal
engine behind much of the regional fluorite mineral ization. Its association with REEs,
carbonatites, and mantle-derived magmas has attracted renewed exploration attention under the
USGS Earth MRI initiative.
The district is also home to several other past-producing or active projects, including the Lasher
Project (near Hampton, KY), Hutson Mine, May Zinc M ine, and Cave-In-Rock operations in
Illinois. These sites all form part of the same mineralizing system linked to fault corridors like the
Tabb, Commodore, and Moore Hill faults 9.
In total, this region combines a century-long mining legacy with modern infrastructure, favorable
jurisdiction, and geological upside, positioning the Campbell Crotser Fluorspar Project for near-
term advancement and long-term value.
Fluorspar Market Overview
5 Anderson, W.H. (2019) Mineralogy & Chemistry of Rare-Earth Elements in Alkaline Ultramafic Rocks and Fluorite in
the Western Kentucky Fluorspar District, Kentucky Geological Survey RI 08. Abstract & Fig. 1 discuss Hicks Dome,
lamprophyres, peridotites, and their role in mineralization.
6 https://en.wikipedia.org/wiki/Paducah_%26_Louisville_Railway?utm_source=chatgpt.com
7 https://www.nyrstar.com/operations/metals-processing/nyrstar-clarksville?utm_source=chatgpt.com
8 https://ilmineswiki.web.illinois.edu/wiki/Hicks_Dome
9 https://kgs.uky.edu/kgsweb/olops/pub/kgs/MC201_12.pdf
According to www.statista.com, China produced over 60% of the world’s fluorspar in 2023. China
produced 5.7 million tonnes in 2023, followed by Me xico (1 million tonnes) and Mongolia (0.93
million tonnes). The remaining countries combined to produce approximately 1 million tonnes.
China has shifted from being a net exporter to a significant importer of fluorspar since 2023, due
to rising demand from the booming energy storage system including batteries. China imported a
total of 1,023,578 tonnes of metspar in January-Oct ober in 2024, up by 33.9% from 763,652
tonnes in the same period of 2023, according to www.fastmarkets.com 10 .
US Fluorspar price has risen from approximately $300 per tonne in 2020 to over $450 per tonne
in early 2025 11 .
Global Fluorspar Demand and Strategic Importance
More than half of the world’s fluorspar is consumed in the production of hydrofluoric acid (HF) —
the chemical precursor to nearly all industrial fluorine compounds. The global demand breakdown
for fluorspar is approximately as follows 12 :
Hydrofluoric acid production (fluorine chemicals): 50–60%
Metallurgical flux (steel/aluminum): 20–25%
Ceramics, glass, and enamel: ~10%
Cement production and other uses: ~5–10%
Hydrofluoric Acid Production (Fluorine Chemicals):
Derived from fluorspar, hydrofluoric acid is one of the most critical and versatile industrial
chemicals, known for its unique ability to etch glass, metals, and silicon compounds. It underpins
a wide range of high-value industrial processes, including 13 :
Nuclear energy: Approximately 50 - 60% of fluorine (HF) demand supports nuclear fuel
production 14 . Fluorine is used to produce uranium hexafluoride (UF ₆), a gaseous
compound that enables enrichment of U-235 from 0.7% source to 3.5% to 5%.
Generally, the uranium arrives at the conversion pl ant in the form of U 3O8. In order for
isotope separation to be effected, uranium is required in the form of a gaseous compound.
This compound is UF6. U 3O8 is converted to UF6 in a three-step process, each requiring
10 https://www.fastmarkets.com/insights/fluorspar-supply-tightness-to-ease-in-china-demand-to-rise-from-booming-
ess-sector-2025/
11 https://www.statista.com/statistics/1051742/fluorspar-price-us/
12 https://pubs.usgs.gov/myb/vol1/2021/myb1-2021-fluorspar.pdf; https://imformed.com/fluorspar-supply-demand-
trends-is-there-a-shortage/?utm_source=chatgpt.com
13 Source: USGS Mineral Commodity Summaries 2024; Roskill Fluorspar Market Outlook; British Fluorspar Ltd.
14 https://en.wikipedia.org/wiki/Fluorochemical_industry?utm_source=chatgpt.com, Company estimates
its own plant. The oxide is first converted to UO2 in a hydrogen atmosphere, according to
the reaction
U3O8 (s) + 2H2(g) -> 3UO2 (s) + 2H2O(g)
Subsequent to this, the uranium dioxide is converte d into uranium tetrafluoride in the
substitution reaction:
UO2(s) + 4HF(g) -> UF4 (s) + 2H2O (g)
Finally, the uranium tetrafluoride is fluorinated to the hexafluoride, using elemental fluorine
gas:
UF4(s)+F2(g)->UF6(g)
Enrichment now takes place, with fissionable U 235 separated from U 238 . This is normally
done by diffusion, centrifuge technology. The enriched uranium is used as solid uranium
dioxide. There is more than one way of carrying out the reduction. Solid uranium dioxide
powder is pressed into pellets which are housed in Zircalloy tubes. These are bundled into
fuel elements (in the case of pressurized-water reactors) ready for use.
For comprehensive information about the nuclear fuel cycle, the reader is referred to Barre
and Bauquis (2007), Kok (2009), Konings (2012), Tsoulfanidis (1996), Wilson (1996), and
Yemelyanov (2011) 15 .
Lithium-ion batteries: Fluorinated compounds stabilize electrolytes and cathode materials,
extending battery life and enabling safe, high-volt age operation in Electric Vehicles and
energy storage. Fluorspar is the key ingredient of lithium hexafluorophosphate (LiPF6),
which is the most widely used electrolyte for lithium batteries.
High-voltage insulation: Sulfur hexafluoride (SF ₆), a fluorine-based inert gas, is the global
standard for insulating high-voltage electrical equipment due to its unmatched stability and
dielectric properties.
Semiconductor and Lithography: Fluorine and fluoride gases play a crucial role in the
complex world of semiconductor manufacturing, makin g them essential for creating the
advanced microchips that power our modern technology. These highly reactive gases are
indispensable in various stages of the fabrication process, from etching intricate patterns
to cleaning deposition chambers.
Etching: Fluorine (F2) and Fluorine mixtures (F2/N2), Phosphorus trifluoride (PF3), Iodine
pentafluoride (IF5), and Selenium tetrafluoride (Se F4) are used in plasma etching
15 Barre, B., Bauquis, P.R. - 2007 - Nuclear Power: Understanding the Future.; Kok, K. - 2009 - Short-Term
Economics of Virtual Power Plants. CIRED 20th International Conference on Electricity Distribution, Prague, 8-11
June 2009, Article No. 1059.; Alexandra G. Konings, Xue Feng, Annalisa Molini, Stefano Manzoni, Giulia Vico,
Amilcare Porporato - 2012 - Thermodynamics of an idealized hydrologic cycle.; Ahmet Bozkurt, Nicholas Tsoulfanidis
- 1996 - Exposure buildup factors of UO2 using the Monte Carlo method.; Wilson, P.D. - 1996 - The nuclear fuel cycle
from ore to wastes.; Yemelyanov, V.S. and Yesvstyukhen, A.I. - 2011 - The Metallurgy of nuclear fuel: properties and
principles of the technology of uranium, thorium and plutonium.
processes to selectively remove material and create precise patterns on semiconductor
wafers. These gases enable the creation of very fine features required for advanced chip
designs.
Doping (Ion Implantation): Dopants such as Germaniu m tetrafluoride (GeF4) and
Antimony pentafluoride (SbF5) are introduced to modify electrical properties.
Deposition: Tungsten hexafluoride (WF6), Germanium tetrafluoride (GeF4), Molybdenum
hexafluoride (MoF6), Niobium pentafluoride (NbF5), and Selenium tetrafluoride (SeF4)
are used in chemical vapor deposition processes to deposit thin films of materials like
silicon dioxide.
Chamber cleaning: Gases like Chlorine Trifluoride ( CIF3), Fluorine (F2) and Fluorine
mixtures (F2/N2), Phosphorus trifluoride (PF3), Anhydrous hydrogen fluoride (AHF), and
Iodine pentafluoride (IF5) are used to clean chemic al vapor deposition (CVD) chambers
between wafer processing steps. This removes residu al deposits and helps maintain
consistent process conditions.
Fluorine is a key component in the lasers used in lithography. For example, KrF (Krypton
Fluoride) lasers produce light at 248 nm, and ArF (Argon Fluoride) lasers produce light at
193 nm. These wavelengths enable the creation of sm aller and more intricate chip
features.
Mineral processing: It improves metal recovery and purification by dissolving silicate
minerals, particularly in aluminum extraction.
Glass manufacturing and etching: HF enables decorat ive and precision treatments of
glass for both industrial and architectural applications.
Fluorocarbon production: HF is used to create refri gerants such as HFC
(Hydrofluorocarbon) which has low melting temperature of -26.3C (HFC-134), is inert, and
stable under pressure. Teflon is a brand name for p olytetrafluoroethylene (PTFE), a
synthetic fluoropolymer known for its non-stick, he at-resistant, and chemical-resistant
properties. It's widely used in various application s, most famously as a coating for non-
stick cookware.
Metallurgical Flux (Steel/Aluminum):
In steel: fluorine in the form of calcium fluoride (CaF2), is a common additive in mold fluxes used
during continuous casting of steel. These fluxes create a molten layer on the surface of the molten
steel, preventing oxidation and facilitating heat transfer 16 .
Fluorine improves the fluidity of the flux, enhances its ability to remove impurities, and can affect
the surface tension of the molten slag, aiding in inclusion removal.
In aluminum, fluorine, primarily in the form of cry olite (Na3AlF6), is a crucial component of the
electrolyte used in the Hall-Heroult process for al uminum smelting. Cryolite lowers the melting
16 Xingjuan Wang, Hebin Jin, Liguang Zhu, Ying Xu, Ran Liu, Zhanlong Piao, Shuo Qu – 2019 - Effect of CaF2 on the
viscosity and microstructure of CaO-SiO2-Al2O3 based continuous casting mold flux.
point of alumina (Al2O3) and increases the electrol yte's conductivity, enabling the electrolytic
reduction of alumina to aluminum at a lower temperature. Fluorine can also be used as a fluxing
agent to remove impurities and improve the fluidity of molten aluminum.
Aluminum fluoride (AlF3) is another fluorine compou nd used in aluminum production, also
lowering the melting point of alumina 17 .
Qualified Person
The technical contents of this news release have been prepared under the supervision of Carlos
Zamora, is a member of the American Institute of Professional Geologists (AIPG) and a Certified
Professional Geologist (CPG) since 2024. Mr. Zamora is an independent qualified person as
defined by National Instrument 43-101.
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company focused on critical mineral resources in the
USA. The Company owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada and
an option to acquire a 100% interest in the Campbell Crotser Fluorspar Project in Kentucky.
Further information on CleanTech can be found at www.cleantechvanadium.com.
ON BEHALF OF THE BOARD
“John Lee”
CEO and Director
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
www.cleantechvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking informa tion” and “forward-looking statements”
(collectively, “forward-looking information”) withi n the meaning of applicable securities laws.
Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,”
“will,” “anticipates,” “intends,” “could”, “estimat es”, “expects”, “forecasts”, “projects” and similar
expressions, and the negative of such expressions. Such forward-looking information, which
reflects management’s expectations regarding CleanTech’s future growth, results of operations,
performance, business prospects and opportunities, is based on certain factors and assumptions
and involves known and unknown risks and uncertaint ies which may cause the actual results,
performance, or achievements to be materially diffe rent from future results, performance, or
achievements expressed or implied by such forward-l ooking information. Forward-looking
17 Veronica Milani – 2023 - Solid salt fluxes for molten aluminum processing - a review.
information in this news releases includes: the acquisition of ownership in the Campbell Crotser
Project, the presence of a land grab for fluorspar projects and Fluorspar as CleanTech’s major
vertical, logistical advantages at the Campbell Crotser Project, the ability to advance the Project
in both the near and long term, the availability of infrastructure that would assist in the
advancement of the Project, . Forward-looking state ments are based on the opinions and
estimates of management of CleanTech at the date the statements are made and are based on
a number of assumptions and subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those projected in the forward-looking
statements. Many of these assumptions are based on factors and events that are not within the
control of CleanTech, there is no assurance they will prove to be correct and are not guarantees
of future performance and actual results may differ materially from those in the forward-looking
statements.
Forward-looking information involves significant risks and uncertainties, should not be read as a
guarantee of future performance, events or results, and may not be indicative of whether such
events or results will actually be achieved. A number of risks and other factors could cause actual
results to differ materially from expected results discussed in the forward-looking information,
including but not limited to: changes in operating plans; ability to secure sufficient financing to
advance the Company’s project; conditions impacting the Company’s ability to mine at the project,
such as unfavorable weather conditions, development of a mine plan, maintaining existing permits
and receiving any new permits required for the proj ect, and other conditions impacting mining
generally; maintaining cordial business relations with strategic partners and contractual counter-
parties; meeting regulatory requirements and changes thereto; risks inherent to mineral resource
estimation, including uncertainty as to whether min eral resources will be further developed into
mineral reserves; political risk in the jurisdictio ns where the Company’s projects are located;
commodity price variation; and general market, industry and economic conditions. Additional risk
factors are set out in the Company’s latest annual and interim management’s discussion and
analysis and annual information form (AIF), available on SEDAR+ at www.sedarplus.ca.
Forward-looking information is based on reasonable assumptions by management as of the date
of this news release, and there can be no assurance that actual results will be consistent with any
forward-looking information included herein. Reader s are cautioned that all forward- looking
statements in this news release are made as of the date of this news release. The Company
undertakes no obligation to update or revise any forward-looking information in this news release
to reflect circumstances or events that occur after the date of this news release, except as required
by applicable securities laws.