First Vanadium Reports Consistently High Vanadium Extraction Results from Variability Test Work for the Carlin Vanadium Project in Nevada
First Vanadium Reports Consistently High Vanadium Extraction Results from Variability Test Work for the
Carlin Vanadium Project in Nevada
April 4, 2019 ‐ Vancouver, British Columbia – First Vanadium Corp. (TSX‐V: FVAN) (OTCQX®: FVANF) (FSE:
1PY) ( “First Vanadium” o r t h e “Company”) reports metallurgical test work results for nine variability
composite samples from its high‐grade Carlin Vanadium deposit. P r e l i m i n a r y t e s t r e s u l t s a r e c o n s i s t e n t l y
showing high vanadium extraction rates, between 92% and 98%, fo r both oxidized and unoxidized
mineralized material of low, average and high vanadium grades.
“The Company is very pleased with the consistent variability te sting results that demonstrate excellent
vanadium extraction rates across the deposit, achieving another significant objective in our test work”, says
Paul Cowley, President & CEO.
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 test work indicated 95.5% vanadium extraction
into solution. Subsequently, over a number of months the extrac tion process has been further refined and
the Company has progressed to the stage of variability test wor k. Variability test work typically uses multiple
samples of differing grade and ore type from across a deposit t o determine the processing consistency for a
given procedure.
Nine composite samples from drill holes across the Carlin Vanadium deposit tested two different ore type
(oxidized and unoxidized shale) of varying vanadium grades (low 0.39‐0.54% V 2O5, average 0.62‐0.69% V 2O5,
and high 0.93‐1.02% V 2O5) through an acid leach and pressure oxidation procedure. The c omposite sample
descriptions and preliminary extraction results are shown in th e following table. Test results are consistently
high vanadium extractions into solution, between 92% and 98%, d emonstrating a tight range of high
vanadium extractions across the deposit regardless of grade or whether oxidized or unoxidized material. The
test work was conducted by Sherritt Technologies, a leader in th e d e v e l o p m e n t a n d c o m m e r c i a l i z a t i o n o f
pressure hydrometallurgical processes.
Metallurgical HoleID Calculated Grade Sample Vanadium
Sample ID From To % V2O5 Description Extraction (%)
MT1A DDC18‐011 36 58.5 0.68 Unoxidized shale 94.1
MT2 DDC18‐016 37 79.86 0.69 Unoxidized shale 93.1
MT3 DDC18‐014 44.5 56.5 0.64 Unoxidized shale 97.8
MT4 DDC18‐018 51 90 1.02 Unoxidized shale 95.3
MT5 DDC18‐010 16.5 46.5 0.39 Unoxidized shale 92.1
MT6A DDC18‐016 8.5 31 0.62 Oxidized shale 92.4
MT7 DDC18‐017 43.5 62.64 0.54 Oxidized shale 93.9
MT8 DDC18‐004 0 11.5 0.93 Oxidized shale 95.3
MT9 DDC18‐020 19.5 30 0.42 Oxidized shale 96.0
Depth (m)
*The composite samples were taken over the mineralized intervals indicated by downhole to and from
depths in the table above.
The variability test work results provide further input for the advancement of a process flow sheet that
requires a downstream solvent extraction step. The solvent extraction test work in progress at SGS Canada, is
2
aimed at producing ammonium metavanadate and a final vanadium p entoxide product. The Company
continues to look at other metallurgical opportunities to benefit the project.
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 shall ow depths with strike length 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.
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.