Western Uranium & Vanadium Corp. Update

Western Uranium & Vanadium Corp. (CSE:WUC, OTCQX:WSTRF) (“Western” or ”Company”) The Sunday Mine Complex Vanadium Project continues to deliver favorable results. The initial sampling from the face of the mine workings showed V2O5 grades ranging from 3% to 14%. Large quantities of ore were mined to determine expected production grades. Twelve samples were analyzed from the four mines from 12 areas mined. The average grade of vanadium was 3.15%.

Development drilling has been underway to expand the mine production areas. Development drilling continues and mining of ore has started. Ore will be stockpiled in the mines until the requirements of the Colorado Division of Reclamation, Mining and Safety (CDRMS) are completed.

CDRMS issued a letter indicating prerequisite information and construction projects that need to be finalized prior to the removal of material (ore) from the Sunday Mine Complex underground workings. The covering of the low-grade ore stockpile has been completed. The remaining requirements are underway. Ore production will continue and be stockpiled underground. Ore shipments from the mines will commence when the requirements of CDRMS have been met.

Uranium Section 232 Update/ United States Nuclear Fuel Working Group

President Trump did not take any action in the uranium section 232 investigation. Instead in a Presidential Memoranda, the President directed the establishment of the United States Nuclear Fuel Working Group (“Working Group”) to develop recommendations for reviving and expanding domestic nuclear fuel production through a fuller analysis of national security considerations with respect to the entire nuclear fuel supply chain.

This process is currently moving forward quickly through the Working Group members and their staff. An extraordinary amount of resources has been committed to this issue as the Working Group is comprised of senior members of the Trump administration and agency heads. Last week the Working Group held a stakeholder roundtable discussion in Washington D.C. which included representatives from the nuclear industry. The Working Group is now evaluating the merits of recommendations and proposals to identify solutions to reinvigorate the entire nuclear fuel supply chain. The process is scheduled to culminate with a report to President Trump on or about October 10th. Western’s observation and view is that the stakeholders comprising the U.S. nuclear fuel cycle are increasingly finding common ground and this makes it more likely that significant support will be enacted to secure each stage of the American nuclear fuel cycle.

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 ablation mining technology.