Western Uranium & Vanadium Announces Strategic Acquisition of Physical Uranium

FOR IMMEDIATE RELEASE

Toronto, Ontario and Nucla, Colorado, June 02, 2021 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to announce that the Company has executed a binding agreement to purchase 125,000 pounds of natural uranium concentrate at the current market price. The triuranium octoxide (U 3 O 8 ) delivery will take place before June 2022 on a delivery date specified by Western.

This uranium purchase is among several value-added opportunities the company is pursuing. The transaction has the potential to enhance the balance sheet beyond the purchase cost through uranium price appreciation. This strategic uranium inventory could be held as a long-term investment, used for the 2022 delivery under Western’s existing supply agreement, or facilitate the negotiation of future supply agreements.

The basis for this purchase is an acquisition cost substantially below average global uranium production costs. Western first evaluated […]

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