First Vanadium Drill Results Reinforce Continuity of High‐Grade Mineralization including 41.15m (135ft) of 0.84% V2O4 at the Carlin Vanadium Project, Nevada
First Vanadium Drill Results Reinforce Continuity of High‐Grade Mineralization including 41.15m (135ft) of
0.84% V2O4 at the Carlin Vanadium Project, Nevada
January 10, 2019 ‐ Vancouver, British Columbia – First Vanadium Corp. (formerly Cornerstone Metals Inc.)
(TSX‐V: FVAN) (OTCQX®: FVANF) (FSE: 1PY) ( “First Vanadium” o r t h e “Company”) is pleased to announce
results from an additional 17 confirmation drill holes from wit hin and along a 1,220 metres (“m”) (4,000ft)
corridor of mineralization at its Carlin Vanadium Project located 6 miles south of Carlin, Nevada. Three
highlight intervals from this drilling encountered 41.15m (135ft ) g r a d i n g 0 . 8 4 % v a n a d i u m ( “ V2O5“), 38.1m
(125ft) grading 0.75% V2O5 and 27.43m (90ft) grading 0.84% V2O5. The average grade of these 17 holes is
0.54% V2O5. T h e a v e r a g e e s t i m a t e d t r u e t h i c k n e s s o f t h e z o n e i n t h e s e 1 7 holes is 33.7m (110ft). The
highlights of the 17 holes are tabled below.
First Vanadium President and Chief Executive Officer, Paul Cowl ey stated. “We continue to be pleased with
these drill results that reinforce continuity of a thick, shallow, near horizontal bed of high‐grade vanadium
mineralization, correlating well to the nearest previous drill holes and improving drill density. Remaining drill
assay results from an additional 25 exploratory holes, are expected to be released next week.”
Confirmation Drilling Highlights:
Drillhole ID From (m) To (m) Length (m) Est. True (m) From (ft) To (f t) Length (ft) Est. True (ft) V2O5 (%)
RCC18‐21* 76.20 114.30 38.10 32.4 250 375 125 106 0.75
RCC18‐22* 62.48 103.63 41.15 35.0 205 340 135 115 0.84
RCC18‐23* 27.43 80.77 53.34 45.3 90 265 175 149 0.64
RCC18‐30* 36.58 77.72 41.15 30.9 120 255 135 101 0.64
RCC18‐32* 57.91 88.39 30.48 27.7 190 290 100 91 0.48
RCC18‐33* 18.29 62.48 44.20 33.2 60 205 145 109 0.47
RCC18‐40* 9.14 47.24 38.10 32.8 30 155 125 108 0.52
RCC18‐41* 1.52 22.86 21.34 16.0 57 5 7 0 53 0.35
36.58 100.58 64.01 48.0 120 330 210 158 0.65
RCC18‐42* 6.10 59.44 53.34 50.7 20 195 175 166 0.38
RCC18‐43* 64.01 86.87 22.86 19.4 210 285 75 64 0.27
RCC18‐44* 18.29 32.00 13.72 10.3 60 105 45 34 0.30
39.62 103.63 64.01 48.0 130 340 210 158 0.25
RCC18‐52 7.62 45.72 38.10 38.1 25 150 125 125 0.58
RCC18‐54 0.00 12.19 12.19 12.2 04 0 4 0 40 0.51
RCC18‐60 0.00 18.29 18.29 18.3 06 0 6 0 60 0.62
RCC18‐64* 0.00 27.43 27.43 20.6 09 0 9 0 68 0.84
RCC18‐67* 57.91 85.34 27.43 20.6 190 280 90 68 0.27
RCC18‐69 28.96 62.48 33.53 33.5 95 205 110 110 0.50
angled holes*
A map has been placed on the Company website to demonstrate the location of these holes.
(https://firstvanadium.com/images/PDF/News_release_Jan_10_2019.pdf)
Four of the holes, RCC18‐32, RCC18‐43, RCC18‐44 and RCC18‐67, e nded in mineralization. Holes RCC18‐32,
RCC18‐43 and RCC18‐67 also returned 10m (30ft) to 25m (75ft) thick, near surface, flat‐lying mineralized
intervals above the main high‐grade zone that graded between 0.21% and 0.26% V2O5.
T h i r t e e n o f t h e 1 7 h o l e s w e r e a n g l e h o l e s ; a d j u s t e d a n d e s t i m a ted true thickness (Est. True) of their
intercepts are displayed in the table above. The drill intercept s o f t h e v e r t i c a l h o l e s a r e c o n s i d e r e d t r u e
thickness.
The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit 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).
Vanadium is growing in importanc e for key industrial manufactur ing sectors most notably steel and
renewable energy. Today, more than 90% of the world’s vanadium is used in steel manufacturing
applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium
production used in energy storage where its substantial cost and performance benefits make it an alternative
choice to lithium ion in several areas.
About First Vanadium Corp.
First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin
Vanadium Project, located in Elko County, 6 miles south from th e town of Carlin, Nevada on Highway I‐80.
The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow 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.