First Vanadium Lined Up for Drilling the Gold Target in Carlin Gold Trend, Nevada
First Vanadium Lined Up for Drilling the Gold Target in Carlin Gold Trend, Nevada
August 5, 2020 - Vancouver, British Columbia – First Vanadium Corp. (TSX-V: FVAN) (OTCQX®: FVANF) (FSE:
1PY) (“First Vanadium” or the “Company”) is pleased to announce that all arrangements are in place for the
drill to arrive on site for August 19th to commence drilling the gold opportunity on the property in the Carlin
Gold Trend in Nevada. The gold target has been identified by Dave Mathewson, a former Newmont Regional
Exploration Manager.
Paul Cowley, President & CEO states, "Dave Mathewson and I are well prepared and excited for the drilling
to begin.”
Property located on the Carlin Gold Trend, tapping into the prolific Carlin Gold Trend gold
plumbing system, the most productive gold belt in USA
Approximately 9 million ounces of gold in multiple deposits and past producing mines near
the FVAN property (5-15km)
Credible, successful senior professional people including Dave Mathewson, an Ex-Newmont
Regional Manager, and founder and Ex-VP Exploration of Gold Standard Ventures,
responsible for discovering six Carlin-style gold deposits near the FVAN property (5-10km)
Gold target supported by compelling science: primarily, favourable comparison with several
gold deposit settings in the Rain/Railroad Mining district
o Right kind of structure (N/S) with an associated 2km x 600m alteration system
(dolomite, gold, pathfinder metals, silicification) on FVAN property - all very typical for Carlin
plumbing system and nearby gold deposits
o N/S structure on FVAN property is subparallel to structures hosting many of the
nearby Gold Standard Venture deposits and Newmont’s past producing Emigrant mine
o N/S Structure and alteration on FVAN property has similar gravity signature as
nearby past-producing mines (Rain, Northwest Rain and Emigrant of Newmont)
Gold target defined by Dave Mathewson has not been drilled; all drilling to date has been to
a depth of only about 60m, mainly for the vanadium resource; the gold target is within a
lower stratigraphic unit below the vanadium resource on the same property
Dave Mathewson to spearhead the gold opportunity drill testing; hole selection, logging,
synthesis and further program design
The Company also announces that, pursuant to the Company’s 10% rolling stock option plan and in
compliance with the policies of the TSX Venture Exchange, it has granted incentive stock options to certain
directors, officers, and consultants of the Company to purchase up to an aggregate of 1,225,000 common
shares of the Company. These options are exercisable for a period of 5 years at a price of $0.32 per share.
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.
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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 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, and to finance and drill
test the interpreted gold target . 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.