First Vanadium Extends the Carlin Vanadium Deposit in Nevada by 300 Metres (984ft) New Data Opens Deposit Strike Length to 2,130 metres (6,984ft)
First Vanadium Extends the Carlin Vanadium Deposit in Nevada by 300 Metres (984ft)
New Data Opens Deposit Strike Length to 2,130 metres (6,984ft)
April 24, 2019 ‐ Vancouver, British Columbia – First Vanadium Corp. (TSX‐V: FVAN) (OTCQX®: FVANF) (FSE:
1PY) (“First Vanadium” or the “Company”) is pleased to announce that newly acquired historic data exten ds
the strike length of the Carlin Vanadium deposit a further 300 metres (“m”) (984ft) to the south on the Carlin
Vanadium property. Two drill hole s and two trenches completed b y Union Carbide in 1968, located south of,
and beyond the current limit of the mineral resource, reported strong vanadium grades. Hole DDH4 returned
an average grade of 0.91% V2O5 across 7.01m (23ft), starting near surface and hole R‐128 returned an
average grade of 0.51% V2O5 across 13.71m (45ft).
Drillhole ID From (m) To (m) Length (m) From (ft) To (ft) Length (ft ) V2O5 (%)
DDH‐4 1.52 8.53 7.01 5 28 23 0.91
R‐128 44.20 57.91 13.71 145 190 45 0.51
The two surface trenches returned average grades of 0.58% V 205 across a width of 15.2m (50 ft) and 0.76%
V205 a c r o s s a w i d t h o f 9 . 1 m ( 3 0 f t ) f r o m a s e r i e s o f c h i p s a m p l e s . Geological mapping conducted by the
Company supports the southern projection of the deposit through these historic drill holes and trenches.
First Vanadium President and Chief Executive Officer, Paul Cowl ey stated. “This new information is positive
reinforcement of the project’s expansion potential. The 300m so uthern extension amounts to a 15% gain in
strike length which remains open to the south on the property.”
The Carlin Vanadium mineral resource as announced February 28, 2019 and detailed in the Technical Report,
which was SEDAR filed April 10, 2019, has a strike length of 1,830m (6,000ft). The newly acquired historic
drilling and trenching data opens the deposit strike length to at least 2,130m (6,984ft). This new data was not
included in the resource estimate, as it did not become available to the Company until after the resource
estimate was completed.
Both drill holes and trenches are located on the adjacent Cole Creek Property which makes up part of the
Carlin Vanadium Property. The Company acquired mineral rights t o the Cole Creek Property through a
mineral lease agreement announced January 31, 2019.
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 has an option to earn a 100% interest in the Car lin Vanadium Project, located in Elko County,
6 miles south from the 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.
2
ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(778) 655‐4311
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‐looking" statements. These statements relate to future
events or the Company's future performance and include the Comp any’s ability to meet its obligations under the Access
and Mineral Lease Agreement, the conditions required to exercise in full its option to acquire the Carlin Vanadium
p r o j e c t a n d i t s i n t e n t i o n t o i n i t i a t e a m i n e r a l r e s o u r c e e s t i m ate. 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 resul ts, and they will not necessarily be accurate indications
of whether or not such results will be achieved. Actual results c o u l d d i f f e r m a t e r i a l l y f r o m t h o s e a n t i c i p a t e d d u e t o 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 assumpti ons 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‐
l o o k i n g s t a t e m e n t s c o n t a i n e d i n t h i s p r e s s r e l e a s e a r e m a d e a s of the date hereof and the Company disclaims any
intention or obligation to update or revise any forward‐looking s t a t e m e n t s w h e t h e r a s a r e s u l t o f n e w i n f o r m a t i o n ,
future events or otherwise, except as required under applicable securities regulations.