Global Closes Agreement to Acquire Prospective Vanadium Project IN Utah
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
TSX-V: GLV.H
GLOBAL CLOSES AGREEMENT TO ACQUIRE PROSPECTIVE VANADIUM PROJECT
IN UTAH
November 7, 2018 – Global Vanadium Corp. (GLV.H:NEX) (“Global” or the “Company”). On
October 2, 2018, the Company announced that it had entered into an agreement dated September
28, 2018 (the “Agreement”) with the shareholders (the “Vendors”) of all of the issued and
outstanding common shares (the “114 Shares”) of 1141717 B.C. Ltd. (“114”).
Under the terms of the Agreement, the Vendors were to receive, pro -rata according to their
respective interests in the Shares, a total of Cdn$80,000 (the “Cash Payment”) and 7,000,000
common shares of the Company (the “Company Shares”) as conside ration for the purchase of
their 114 Shares.
The purpose of the purchase of the 114 Shares was for the Company to purchase 114’s interest in
a total of 97 Lode Claims (the “Claims”) in Garfield County, Utah (the “Desert Eagle Project). The
Claims comprising the Desert Eagle Project total 2,004 acres and are prospective for vanadium.
On October 10, 2018, the Company began the process of closing the purchase of the 114 Shares
with the issuance of the Company Shares and the payment of the Cash Payment. The Company
Shares are subject to a four -month Exchange hold period expiring on February 10, 2019. In the
process of closing, the Company determined that it wished to assign ownership of the Desert
Eagle Project such that, upon closing and release of the Company Shares, it would be the owner
of the Desert Eagle Project through a newly incorporated subsidiary of 114, Global Vanadium
Nevada, Corp. This process (which involved the incorporation of Global Vanadium Nevada,
Corp. and the transfer of the Claims to it) has now been completed.
The Desert Eagle Project is located in Garfield County, Utah, United States. The Project is host to
historic vanadium and uranium production beginning in the early 1900’s which has continued
erratically and intermittently , most o f which was not reported . The project is located in the
Trachyte district situated to the east of the Henry Mountains, 95 miles south of Green River, Utah.
The project is considered prospective for the development of vanadium due to the high historic
grades (up to 28% Vanadium Pentoxide) and high ratios of vanadium over uranium present on
the Claims. Mineralization occurs within sandstone of the Salt Wash member of the Jurassic
Morrison formation, a rock unit synonymous with vanadium and uranium production across the
Colorado Plateau.
The closing of the Agreement and the transactions contemplated by it were subject to the
approval of the Company’s filings with the NEX board of the TSX Venture Exchange, which
approval was obtained in October, 2018.
The Company is working to complete an NI 43 -101 technical report on the Desert Eagle Project
and expects that to be forthcoming.
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
TSX-V: GLV.H
The historic grades referenced in this release have not independently been confirmed by the
Company.
QUALIFIED PERSON
The technical information in this release has been reviewed by Adrian Smith, P.Geo, a qualified
person as defined by NI 43-101, and an independent consultant to the Company.
Global Vanadium Corp.
“Brian Morrison”
CFO, Director
The Company is listed on the NEX board of the TSX Venture Exchange.
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward -looking statements, which reflect the expectat ions of
management regarding Global’s intention to continue to identify potential transactions and make certain
corporate changes and applications. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or intentions regarding the
future. Such statements are subject to risks and uncertainties that may c ause actual results, performance
or developments to differ materially from those contained in the statements. No assurance can be given that
any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits
Global will obtain from them. These forward -looking statements reflect managements’ current views and
are based on certain expectations, estimates and assumptions w hich may prove to be incorrect. A number
of risks and uncertainties could cause actual results to differ materially from those expressed or implied by
the forward-looking statements, including Global’s inability to identify transactions having satisfactory
terms or at all and the results of exploration or review of properties that Global does acquire. These forward-
looking statements are made as of the date of this news release and Global assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results differed from those projected
in the forward-looking statements, except in accordance with applicable securities laws.