WESTERN URANIUM&VANADIUM - WSTRF STOCK NEWS

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) has executed a binding Stock Purchase Agreement to acquire 100% of Pinon Ridge (PRC) for approximately USD830,000. This acquisition includes a 900-acre property in Montrose County, Colorado, marking Western's second property acquisition after the Maverick Mineral Processing Plant site in Utah. The strategy aims to develop and license uranium and vanadium processing facilities to optimize transportation and processing costs for Western's resources in Colorado and Utah.

The PRC Site, previously licensed for a uranium mill, offers unique opportunities to leverage historical licenses, data, and resources. Western plans to implement a next-generation conventional mill design with a kinetic separation circuit for pre-milling processing. The company is considering various financing approaches, including third-party ownership or co-ownership of the Sites.

Western Uranium & Vanadium Corp. (WSTRF) has provided several company updates. Michael Skutezky, with over 40 years of experience in the resource sector, was elected as a new independent director and granted 100,000 stock options. At the Sunday Mine Complex, mining teams are advancing a 2,700-foot drift towards the Leonard & Clark deposit, with 454 feet developed so far. The underground drilling program has completed 12,339 linear feet in Q2.

The company is also developing the San Rafael Uranium Project in Utah as its second production facility. Western has submitted a Notice of Intent to the BLM and expects approval for mineral and groundwater exploration within 30 days. A phase 1 drilling program is planned for 2024, including the installation of groundwater monitoring wells and assessment of mineralization against historical data.

Western Uranium & Vanadium Corp. (CSE: WUC, OTCQX: WSTRF) announced the outcomes of its Annual General and Special Meeting held on June 27, 2024, in Montrose, Colorado. Proxy votes represented 49% of the issued shares. All proposals, as outlined in the management information circular from May 21, 2024, were approved.

The board size increased from three to four directors, with George Glasier, Bryan Murphy, Andrew Wilder, and Michael Skutezky elected. MNP LLP was re-appointed as the company's auditor, and the board was authorized to set their remuneration.

Management re-appointments include George Glasier as President and CEO, Robert Klein as CFO, Michael Rutter as COO, and Denis Frawley as Corporate Secretary. Bryan Murphy remains Chairman of the Board, and Andrew Wilder continues as Chairman of the Audit Committee, which now includes Michael Skutezky.

Western Uranium & Vanadium Corp. provides updates on uranium markets and company operations, including the impact of the Prohibiting Russian Uranium Imports Act, Energy Fuels' buying program, a joint venture with Rimrock Exploration and Development Inc., and ongoing mining operations and processing plant developments.

Western Uranium & Vanadium Corp. will present at the Metals & Mining Virtual Investor Conference today. George Glasier, CEO, will speak and take questions live. The company is ramping up uranium and vanadium production at its Sunday Mine Complex.

Western Uranium & Vanadium Corp. received CAD$4,630,800 from the exercise of common share purchase warrants, leading to a total of 3,859,000 warrants being exercised. The company now has 53,374,123 common shares outstanding, with a high exercise participation rate of over 99%. The proceeds will be used to enhance mining and milling projects in the uranium sector.

Western Uranium & Vanadium Corp. provides an update on its mining operations, showcasing exceptional progress at the Sunday Mine Complex project in 2023. The company outlines strategic goals for 2024 and beyond, aiming to significantly increase uranium and vanadium production.

Western Uranium & Vanadium Corp. announces the promotion of Michael Rutter to Chief Operating Officer and the addition of Bruce Norquist as General Manager of Mining Operations. Rutter has extensive experience in uranium and vanadium mining, while Norquist brings 38 years of mining industry experience. The company has doubled operational capacity at the Sunday Mine Complex for 2024, responding to favorable uranium market conditions.

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) is experiencing an extraordinary year in the uranium markets, with spot prices reaching over $90 per pound, the highest levels seen since 2007. The Sprott Uranium Miners ETF (URNM) increased by 40% during 3Q2023, outperforming the spot increase, but has recently lagged behind, advancing less than 5% in 4Q203.