American Vanadium Announces First Production of Vanadium Pentoxide and Vanadium Electrolyte
AMERICAN VANADIUM CORP. (the 'Company?) (TSX.V: AVC) (Pink
Sheets: RMRCF.PK) announces that pilot scale metallurgical testing
resulted in the creation of two high quality products: vanadium
pentoxide ('purple flake?) and vanadium electrolyte. Purple flake is
critical as a steel strengthener as well as for higher value
applications in the titanium and chemical industries. Vanadium
electrolyte, also a high value product, is used in vanadium flow
batteries for utility scale energy storage. This emerging use for
vanadium will greatly contribute to the integration of intermittent
renewable resources into electrical grids and has the potential to
create significant demand for vanadium.
'We are very excited as the textbook results of this pilot scale testing
are an important validation of our metallurgical process,? stated Bill
Radvak, President & CEO of American Vanadium Corp. 'This is a major
milestone as we have demonstrated that our process can produce vanadium
products with higher value while also meeting the steadily growing needs
of the steel industry. We will be using the resultant materials to
pursue off-takes with steel companies as well as partnerships and joint
ventures with vanadium flow battery technology and manufacturing
companies.?
About American Vanadium Corp.
American Vanadium is currently developing the Gibellini Vanadium
Project, a vanadium resource located in Nevada, USA. Vanadium is a
critical alloying metal used to strengthen steel and is also growing in
importance in the emerging uses of mass energy storage and next
generation lithium-vanadium batteries. The Company′s Gibellini Vanadium
Project is unique in its ability to have economic production of vanadium
for the steel and alloying industries as well as vanadium electrolyte
for the mass storage industry.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
NEITHER 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 Statements: This press release contains
'forward-looking information? within the meaning of applicable Canadian
securities laws, including statements regarding the expected use of
proceeds from the Private Placement, and future plans and objectives for
the Gibellini Project. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking information.
Factors that may cause actual results to vary include, but are not
limited to, actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as
plans continue to be refined; future prices of vanadium; possible
variations in reserves, grade or recovery rates; delays in obtaining
governmental approvals or financing or in the completion of development
or construction activities. Although American Vanadium has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
American Vanadium does not undertake to update any forward-looking
statements, except in accordance with applicable securities laws.
American Vanadium Corp.
Mike Hyslop, 604 488-8795
Director,
Corporate Development
mhyslop@americanvanadium.com