Western Uranium & Vanadium Corp. Accelerates Operations with Strategic Staffing and Technical Capability Enhancements

November 26, 2024 — Western Uranium & Vanadium Corp. (CSE: WUC; OTCQX: WSTRF) has announced a series of organizational and operational developments aimed at scaling production at its Sunday Mine Complex and advancing resource expansion initiatives.

Expanded Team and Enhanced Operational Tempo

The Company has bolstered its workforce to support accelerated drilling and mining activities at the Sunday Mine Complex. To maximize operational efficiency, mining and drilling teams have shifted to an intensive schedule of 12-hour shifts operating on a 7-day on / 7-day off rotation. This operational framework enables Western to execute multiple project objectives concurrently while maintaining workforce sustainability and productivity standards.

Technical Leadership and Geological Expertise

A significant addition to Western’s team is Nathan Bishop, appointed as Lead Geologist to direct the underground drilling program and oversee mineral resource reporting. Bringing nearly two decades of geological expertise from copper mining operations across Western North America, Mr. Bishop specializes in borehole geophysics and data modeling—capabilities that align with modern vanadium browser technologies for subsurface analysis and interpretation.

Mr. Bishop will be responsible for comprehensive program oversight, encompassing data acquisition, drilling logistics coordination, results compilation, and technical report preparation. His background includes development of a rigorous quality assurance protocol for drillhole survey verification, ensuring accuracy in logging and assay documentation. Given the extensive historical drillhole dataset available at the Sunday Mine Complex, this capability proves critical for resource validation.

Drilling Progress and Resource Development Strategy

Western’s drilling activities during 2024 have yielded substantial results, with over 30,000 linear feet of horizontal drilling completed. These efforts, combined with historical vertical drillhole information, have identified new mineralized zones suitable for development. Under Mr. Bishop’s technical direction, the focus is transitioning from initial development and production drilling toward systematic resource expansion through geological interpretation, modeling, and deposit definition.

Stock Option Allocation to Support Strategic Growth

The Company has distributed 1,375,000 stock options to officers, directors, and employees under its Incentive Stock Option Plan. Options were granted on November 24, 2024, with an exercise price of CAD$1.32, reflecting the Company’s recent trading performance and private placement pricing. Each option grants the holder the right to acquire one common share over a five-year period following the applicable vesting date.

The vesting schedule is structured in three equal tranches: January 31, 2025; July 31, 2025; and January 31, 2026. This phased vesting approach aligns employee incentives with sustained operational execution and value creation.

About the Company

Western Uranium & Vanadium Corp. is advancing high-grade uranium and vanadium production operations at its Sunday Mine Complex, situated within the prolific Uravan Mineral Belt. The Company’s development pipeline includes additional conventional projects across Colorado and Utah. Processing infrastructure includes the Maverick Minerals Processing Plant and Pinon Ridge Corporation facility, with plans to integrate kinetic separation technology.

For further inquiries: George Glasier, President and CEO | 970-864-2125 Robert Klein, Chief Financial Officer | 908-872-7686