Cleantech Announces Amended and Restated Royalty Agreement for its Gibellini Vanadium Mine Project
Cleantech Announces Amended and Restated Royalty
Agreement for its Gibellini Vanadium Mine Project
VANCOUVER, British Columbia , March 20, 2025 – Cleantech Vanadium Mining Corp.
(“Cleantech” or the “Company”) (TSX-V: CTV; OTCQB: CTVFF) and Oracle Commodity Holding
Corp. (“Oracle”) (TSX-V: ORCL; OTCQB: ORLCF) are pl eased to announce the execution of an
Amended and Restated Royalty Agreement (the “Amende d Agreement”) dated March 3, 2025,
among Oracle, Nevada Vanadium LLC, and Nevada Vanad ium Holding Corp., which amends the
original royalty agreement dated August 25, 2021 pursuant to which Oracle holds a 2% royalty on
Cleantech’s Gibellini Vanadium Mine Project (the “G ibellini Vanadium Mine Project”) in Eureka
County, Nevada (the “Original Royalty”). The Bureau of Land Management (“BLM”) published a
Record of Decision approving the Environmental Impa ct Statement for the Company’s proposed
Gibellini Vanadium Mine Project in October 2023. Th e Gibellini Vanadium Mine Project has also
received many of the state permits required to start construction.
Key Terms of the Amended Agreement
Removal of Royalty Payment Threshold : The previously established vanadium pentoxide
(V2O5) threshold price of USD 12/lb required to tri gger the royalty payments under the
Original Royalty has been removed. Pursuant to the Amended Agreement, the 2% royalty
is now payable to Oracle without any threshold requirement.
Consideration : As consideration for entering into the Amended Ag reement, Oracle must
pay Cleantech aggregate consideration of CAD 200,000 as follows:
o CAD 75,000 (already paid); and
o CAD 125,000 upon V2O5 prices exceeding USD 12/lb for 180 consecutive days.
Guarantee : Cleantech and Nevada Vanadium Mining Corp., the p arent companies of
Nevada Vanadium LLC and Nevada Vanadium Holding Cor p., will guarantee all future
royalty payments.
The parties entered into the Amended Agreement to s treamline the royalty structure and clarify
payment obligations.
About Cleantech Vanadium Mining Corp.
Cleantech is an exploration-stage mining company fo cused on vanadium and critical mineral
resources. The Company owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada,
United States.
Further information on Cleantech can be found at www.cleantechvanadium.com.
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Chief Executive Officer
For more information about Cleantech, please contact:
Suite 1008 – 409 Granville Street
Vancouver, BC V6C 1T2
Phone: 1.877.664.2535
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
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” (collectivel y,
“forward-looking information”) within the meaning of applicable securities laws. Forward-looking information
is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could”,
“estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions.
Such forward-looking information, which reflects ma nagement’s expectations regarding Cleantech’s futur e
growth, results of operations, performance, business prospects and opportunities, is based on certain factors
and assumptions and involves known and unknown risk s and uncertainties which may cause the actual
results, performance, or achievements to be materia lly different from future results, performance, or
achievements expressed or implied by such forward-looking information. Forward-looking information in this
and other news releases includes the potential for the Royalty to be payable, the payment of CAD 125,000
in additional consideration and the requirement for Cleantech or Nevada Vanadium Mining Corp. and the
ability to enforce any Guarantee provided over the future royalty payments.
Forward-looking information involves significant risks and uncertainties, should not be read as a guar antee
of future performance, events or results, and may n ot 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 i nformation, including but not limited to: changes i n
operating plans; ability to secure sufficient finan cing to advance the Gibellini Vanadium Mine Project ;
conditions impacting the Company’s ability to devel op the Gibellini Vanadium Mine Project, such as
unfavourable weather conditions, development of an exploration plan, maintaining existing permits and
receiving any new permits required for the Gibellini Vanadium Mine Project, and other conditions impacting
development generally; maintaining cordial business relations with strategic partners including any
Indigenous communities and contractual counter-part ies; meeting regulatory requirements and changes
thereto; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources
will be further developed into mineral reserves; political risk in the jurisdictions where the Project is 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 discussion and analysis, 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. Readers are cautioned that all forward- looking statements in this news release
are made as of the date of this news release. The C ompany undertakes no obligation to update or revise
any forward-looking information in this news release to reflect circumstances or events that occur aft er the
date of this news release, except as required by applicable securities laws.