WUC Announces Mining Restart at the Sunday Mine Complex
July 6, 2021
Western Uranium & Vanadium Announces Mining Restart at the Sunday Mine Complex
FOR IMMEDIATE RELEASE
Toronto, Ontario and Nucla, Colorado - Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF)
(“Western” or the ”Company”) is pleased to announce that it is preparing for the resumption of mining activities at the
Sunday Mine Complex (“SMC”). This action is driven by COVID-19 risks declining and the improved fundamentals and
outlook for uranium and vanadium commodities. The Sunday Mine, West Sunday Mine, St. Jude Mine, and Carnation
Mine, which are interconnected, will be moved into Active Status from Temporary Cessation. This project which began
in 2019 will shift its base of operations from the St. Jude Mine to the Sunday Mine. The team will be targeting these
different areas with development drilling, development mining, and ore production.
Western is undertaking this project to enhance the value of the SMC by further differentiating the facility among the
very few mines in North America that can be put into full-scale production with minimal capital expenditures and lag
time. In anticipation of the uranium price rising substantially over the next year or two, Western wants to demonstrate
that the Sunday Mine Complex is a first choice for uranium ore.
Positive momentum is building in n uclear power generation and uranium mining with the increased global recognition
that nuclear electricity generation is a scalable clean energy source of baseload power. Thus Western is taking these
actions to move toward the front of go -to uranium miners who will source nuclear fuel for the next decade. In the past
decade, uranium markets have experienced an oversupply which led to low prices, underinvestment in mine
development and a structural supply/demand deficit. COVID -19 related mine shutdowns have accelerated a global
decline in su pply and inventory levels. Simultaneously, nuclear fuel demand is growing from new reactor builds,
Japanese reactor restarts, delayed reactor closures from operating extensions and government support, and the
advancement of new nuclear technologies. End us er electricity demand is also growing due to the electrification of
everything trend and clean energy/climate change initiatives that are shifting energy mixes away from fossil fuels.
Western wants to assure maximum participation by its shareholders as Management feels that these macro trends have
already initiated the next uranium bull market.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining
company focused on low cost near -term production of uranium and vanadium in the western United States ,
and development and application of kinetic separation.
Cautionary Note Regarding Forward- Looking Information: Certain information contained in this news release
constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities
laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are
dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans
and results; the timing of planned activities; whether the Company can raise any additional funds required to implement
its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more
generally to the Company’s business, and the economic and political environment applicable to its operation s, assets
and plans. All such forward -looking statements are subject to important risk factors and uncertainties, many of which
are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s
Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of
those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements,
and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any
obligation to update these forward -looking statements at any particular time, except as and to the exten t required
under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
Robert Klein
Chief Financial Officer
908-872-7686