First Vanadium Completes Drilling at the Carlin Vanadium Project
First Vanadium Completes Drilling at the Carlin Vanadium Project
October 2, 2018 ‐ Vancou ver, British Columbia – First Vanadium Corp. (formerly Cornerstone Metals Inc.)
(TSX‐V: FVAN) (OTCQX: CCCCF) (FSE: 1PY) (“First Vanadium” or the “Company”) is pleased to announce that
it has completed the Phase 2 drilling program on its Carlin Van adium Project, located 6 miles south of Carlin,
Nevada.
A total of 69 holes were completed in the Phase 2 Reverse Circulation drilling program, far exceeding the
planned 40‐hole program. The objectives of this drill program w ere to infill and expand the deposit.
Combined with the 1960’s Union Carbide drilling and the Company ’s spring 2018 diamond drilling program,
the Carlin Vanadium deposit is now defined by 216 drill holes. The program was supervised by the
Company’s Qualified Person, Paul Cowley, P.Geo., and President and CEO of the Company. Assays will be
forthcoming throughout October. A new resource estimate will follow.
The Carlin Vanadium deposit is considered one of the largest, highest grade primary vanadium deposits in
North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States—Economic
and Environmental Geology and Prospects for Future Supply dated December 18, 2017).
The Company also wishes to invite investors and shareholders to v i s i t i t s n e w w e b s i t e
(www.firstvanadium.com ). The Company has posted a series of new videos on the home p age that provide a
“virtual tour” of the property and explain what makes the Carli n Vanadium project unique.
Vanadium prices for 98% flake V2O5 have steadily risen from und er US$3.00/lb less than 3 years ago. Last
week’s prices reached over US$22/lb, reflecting the higher demand for vanadium over its supply, globally.
Vanadium is growing in importanc e for key industrial manufactur ing sectors most notably steel and
renewable energy. Today, more than 85 percent of the world’s vanadium is used in steel manufacturing
applications. Its importance to the energy sector is also growing rapidly with more than 10 percent of
vanadium production used in energy storage where its substantia l cost and performance benefits make it an
alternative choice to lithium ion in several areas.
About First Vanadium Corp.
First Vanadium (formerly Corners tone Metals Inc.) has an option to earn a 100% interest in the Carlin
Vanadium Project, located in Elko County 6miles south from the town of Carlin, Nevada. The Carlin Vanadium
Project hosts the Carlin Vanadium Deposit which is flat to shal low dipping and at shallow depths, 0‐60 m (0‐
200 ft) below surface.
ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(604) 340‐7711
www.firstvanadium.com
Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified
Person as defined by National Instrument 43‐101, and President and CEO of the Company.
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
Certain statements in this news release constitute "forward‐loo king" statements. These statements relate to
future events or the Company's f uture performance and include t he Company’s ability to meet the conditions
required to exercise in full its option to acquire the Carlin V anadium project and with respect to current and
planned drill programs, the results of exploration programs, me tallurgical test work, and changes in mineral
resources. All such statements i nvolve substantial known and un known risks, uncertainties and other factors
which may cause the actual results to vary from those expressed or implied by such forward‐looking
statements. Forward‐looking statements involve significant risks and uncertainties, they should not be read
as guarantees of future performance or results, and they will no t n e c e s s a r i l y b e a c c u r a t e i n d i c a t i o n s o f
whether or not such results will be achieved. Actual results co uld differ materially from those anticipated due
to a number of factors and risks. Although the forward‐looking statements contained in this news release are
based upon what management of the Company believes are reasonab le assumptions on the date of this news
release, the Company cannot assure investors that actual results will be consistent with these forward‐looking
statements. The forward‐looking statements contained in this pr ess release are made as of the date hereof
and the Company disclaims any intention or obligation to update or revise any forward‐looking statements
whether as a result of new information, future events or otherwise, except as required under applicable
securities regulations.