American Vanadium Announces First Production of Vanadium Pentoxide and Vanadium Electrolyte
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/22/11 -- AMERICAN VANADIUM CORP. (the 'Company') (TSX VENTURE: AVC)(PINK SHEETS: RMRCF)(FRANKFURT: 0UA) 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
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
American Vanadium Corp.
Mike Hyslop
Director, Corporate Development
604-488-8795
mhyslop@americanvanadium.com
www.americanvanadium.com