First Vanadium Appoints Dr. David Dreisinger to Advisory Board

Vancouver, October 24, 2018 - First Vanadium Corp. (formerly Cornerstone Metals Inc.) (TSXV: FVAN) (OTCQX: CCCCF) (FSE: 1PY) ("First Vanadium" or the "Company") continues to seek high calibre people to augment its team to advance the Carlin Vanadium Deposit. We are pleased to announce the appointment of Dr. David Dreisinger to our Advisory Board. David Dreisinger is a Professor and Chairholder of the Hydrometallurgy Chair at the University of British Columbia. The UBC Hydrometallurgy Chair is funded by 16 industrial companies. Dr. Dreisinger works actively with industry and has co-invented a number of metallurgical processes, including the Sepon Copper process (Laos), the Mt Gordon Copper process (Australia), the PLATSOL process (to be used in the US). Together with his students and colleagues, he has published over 300 technical papers in journals and conference proceedings. He holds 21 US Patents. Dr. Dreisinger serves as a director of a number of TSX listed companies including PolyMet Mining, Search Minerals, Euro Manganese and LeadFX.

The Company also announces that it has issued 1 million shares to Americas Gold Exploration Inc. ("AGEI") as required pursuant to the agreement between the Company and AGEI dated September 22, 2017 under which AGEI assigned its 100% interest in the Carlin Vanadium property to the Company (refer to the Company's news release dated November 9, 2017 for further details about the assignment agreement). A finder's fee of 100,000 shares was also paid and issued in conjunction with this transaction. All shares issued in connection herewith are subject to a 4 month hold period in compliance with Canadian securities laws.

About First Vanadium Corp.

First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County 6miles south from the town of Carlin, Nevada. The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, 0-60 m (0-200 ft) below surface.

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States—Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

ON BEHALF OF First Vanadium Corp.

per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@firstvanadium.com

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 Company's ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to current and planned drill programs, the results of exploration programs, metallurgical test work, and changes in mineral resources. 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 implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should 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 management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation 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.