WESTERN URANIUM&VANADIUM - WSTRF STOCK NEWS

Western Uranium & Vanadium Corp. announces plans for a new mineral processing facility in Utah, set to complement other strategic uses at the Green River Industrial Park. The facility will produce an estimated 2 million pounds of U₃O₈ and 6-8 million pounds of V₂O₅ annually, with initial production expected in 2026. The facility will utilize ore from the nearby Sunday Mines Complex and the San Rafael Uranium Project, with potential for scalability as the company develops additional mining operations. Western aims to enhance its role in uranium and vanadium production in the U.S.

Western Uranium & Vanadium Corp. (OTCQX: WSTRF) announced its acquisition of property in Utah for a new mineral processing plant. The facility will process uranium, vanadium, and cobalt, utilizing advanced technology to lower costs. Design and permitting are underway following a year-long site selection process that considered infrastructure and local support. Mining at the Sunday Mine Complex has commenced, providing ore for the facility. The company expresses confidence in a growing uranium market and plans minimally dilutive financing. The vanadium market also shows potential for growth, particularly for energy storage solutions.

Western Uranium & Vanadium Corp. (OTCQX: WSTRF) provided key updates on January 20, 2023. The company has successfully transitioned to in-house mining operations at the Sunday Mine Complex, adding ten employees and acquiring equipment for two mining teams. Operations are set to restart in early February 2023, focusing on the GMG Ore Body. Furthermore, twelve royalty checks amounting to $582,000 were issued in 2022 from Weld County wells, with new royalty payments expected from an additional eight wells. CEO George Glasier will participate in several industry conferences in early 2023.

Western Uranium & Vanadium Corp. has shared updates on nuclear fuel and uranium markets, highlighting a growing supply-demand imbalance driven by new reactor constructions and the reversal of nuclear phase-outs. The U.S. is implementing measures to reduce dependency on Russian uranium imports, potentially reshaping the uranium market. Additionally, the company has completed in-house mining capabilities at the Sunday Mine Complex, with operations expected to restart in January 2023. Furthermore, Western granted 1,665,000 stock options at an exercise price of CAD$1.60 to its employees and directors.