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First Vanadium Corp. Provides Update and Information ON Annual General Meeting of Shareholders

Shareholder Meetings

FIRST VANADIUM CORP. PROVIDES UPDATE AND INFORMATION

ON ANNUAL GENERAL MEETING OF SHAREHOLDERS

November 27, 2020 - Vancouver, British Columbia – First Vanadium Corp. (TSX-V: FVAN) (OTCQX®: FVANF)

(FSE: 1PY) (“First Vanadium” or the “Company”) announces that with respect to its annual general meeting

(the “Meeting”) of shareholders (“Shareholders”) scheduled to take place on Thursday, December 10, 2020 in

Vancouver, British Columbia, the Company is encouraging Shareholders and proxyholders not to attend the

Meeting in person, particularly if they are experiencing any COVID-19 symptoms.

In order to comply with the Orders of the British Columbia Provincial Health Officer currently in effect related

to the COVID-19 pandemic, and in response to the additional directives of the Provincial and Federal

governments and health authorities, the Meeting will not be open to the public. Access to the Meeting will

be limited to essential personnel and registered Shareholders and proxyholders entitled to attend and vote at

the Meeting. There will be strict limitations on the number of persons permitted entry to the Meeting in order

to ensure adherence to social distancing requirements. It will also be mandatory for all persons in

attendance at the Meeting to wear a face mask/covering.

In order to minimize group sizes and respect social distancing regulations, all Shareholders are urged to vote

on the matters before the Meeting by proxy which can be submitted electronically, by mail, or by phone as

further described in the Company's management information circular dated October 30, 2020, by no later

than 10:00 a.m. (Vancouver time) on December 8, 2020.

Given the current exceptional circumstances and the requirement to mitigate COVID-19 pandemic risks, there

will be no management presentation at the Meeting, nor will there be a question and answer session with

management.

As the situation regarding COVID-19 is rapidly evolving, the Company reserves the right to implement

additional precautionary measures related to the Meeting if deemed appropriate.

The Company thanks its valued Shareholders and apologizes for any inconvenience caused as a result of the

precautionary safety measures taken in respect of the Meeting.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County,

6 miles south from the town of Carlin, Nevada and Highway I-80. The Carlin Vanadium Project hosts the Carlin

Vanadium deposit. A positive PEA on the vanadium resource was announced May 11, 2020.

Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are

present near the FVAN property (5-15km). The Gold Target on the FVAN property is supported by compelling

science: a north-south structure with coincident gravity high and a 2km x 600m Carlin deposit-type

hydrothermal alteration system (dolomite, gold, pathfinder metals, silicification) on FVAN property - all very

typical of Carlin deposit-type plumbing system and gold deposits.

ON BEHALF OF FIRST VANADIUM CORP.

per: "Paul Cowley"

CEO & President

(778) 655-4311

[email protected] www.firstvanadium.com

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Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as

defined by National Instrument 43-101, and President, CEO and director 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-looking" statements. These statements relate to future events or the

Company's future performance and include the Company’s ability to meet its obligations under the Access and Mineral Lease

Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project, to finance and drill test

the interpreted gold target model and to encounter potential gold zones shown in the gold model . All such statements involve

substantial known and unknown 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 not necessarily be accurate indications of whether or not

such results will be achieved. Actual results could 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 reasonable 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 press 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.