Western Uranium & Vanadium : Management’s Discussion and Analysis For the six months ended June 30, 2022 and 2021

WESTERN URANIUM & VANADIUM CORP.

Management’s Discussion and Analysis For the six months ended June 30, 2022 and 2021

(Stated in USD)

Dated August 22, 2022INTRODUCTIONWestern Uranium & Vanadium Corp. (the "Company" or "Western", formerly Western Uranium Corporation) is the issuer. This Management’s Discussion and Analysis ("MD&A") provides a review of corporate developments, results of operations and financial position for the three months ended June 30, 2022 and 2021. The MD&A is intended to supplement the consolidated financial statements and notes thereto (the "Statements") of Western for the above-noted periods.All amounts included in the MD&A are presented in US dollars, unless otherwise specified. This report is dated August 22, 2022, and the Company’s filings can be reviewed on the SEDAR website at www.sedar.com and on the CSE website at www.cnsx.ca FORWARD-LOOKING STATEMENTSThis MD&A contains forward-looking statements. Forward-looking statements can often be identified by the use of words such as "plans", "expects" or […]

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