First Vanadium Provides Progress Report on Metallurgical Test Work for the Carlin Vanadium Project in Nevada
First Vanadium Provides Progress Report on Metallurgical Test Work for the Carlin Vanadium Project in
Nevada
March 27, 2019 ‐ Vancouver, British Columbia – First Vanadium Corp. (formerly Cornerstone Metals Inc.)
(TSX‐V: FVAN) (OTCQX®: FVANF) (FSE: 1PY) (“First Vanadium” or the “ Company”) reports that metallurgical
test work on nine variability composite samples from the Carlin Vanadium deposit is in its final stages, with
results to be reported in early April 2019.
The Company commenced acid leach and pressure oxidation test pr ocedures on a single composite sample
from the deposit in April 2018. In June 2018, the reported prel iminary test work had returned 95.5%
vanadium extraction into solution . Since then, the procedure ha s been further refined and the Company has
progressed to the stage of variability test work. Variability te s t w o r k t y p i c a l l y u s e s m u l t i p l e s a m p l e s f r o m
across a deposit to determine the processing consistency for a given procedure.
Nine composite samples have been derived from drill holes acros s the Carlin Vanadium deposit to test the
variability of two different ore types (oxidized and unoxidized shale) of varying vanadium grades (low,
average, and high). The results of the variability test work ar e expected to be available in early April 2019.
T h i s v a r i a b i l i t y w o r k w i l l p r o v i d e a g o o d i n d i c a t i o n o f t h e e x pected average and range of vanadium
extractions across the deposit and form the basis for ongoing a dvancement of the process flow sheet. The
work is being conducted by Sherritt Technologies, a leader in the development and commercialization of
pressure hydrometallurgical processes.
In addition, downstream solvent extraction test work to produce ammonium metavanadate, leading to a
final vanadium pentoxide product is being initiated by SGS Cana da, a leading supplier of proven, advanced
metallurgical services at its Lakefield, Ontario facilities.
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 with strike lengt h of approximately 1,800 metres , width averaging 600 metres and thickness
ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.
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.
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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 and the conditions required to exer cise in full its option to acquire the Carlin Vanadium
project. 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 implie d by such forward‐looking statements. Forward‐looking
statements involve significant risks and uncertainties, they sh ould 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 m anagement of the Company believes are reasonable
assumptions on the date of this news release, the Company canno t assure investors that actual results will be consistent
with these forward‐looking statements. The forward‐looking stat ements contained in this press release are made as of
the date hereof and the Company disclaims any intention or obli gation 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.