Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) is pleased to announce that it has received approximately CAD$4,630,800 in total proceeds from the exercise of common share purchase warrants between December 1, 2023 and February 16, 2024. During this two and a half month period, an aggregate of 3,859,000 Warrants were exercised. Thereafter, the Company has a total of 53,374,123 common shares outstanding.

The majority of Warrants were originally issued in a private placement which closed on February 16, 2021 in which Western distributed a total of 3,250,000 investor warrants exercisable for three years at CAD$1.20 per share. An exercise participation rate above 99% was attained prior to the expiration of the Placement warrants on February 16, 2024.

Western anticipates that most of the proceeds received from the exercise of Warrants will be strategically deployed to accelerate the ramp-up of Western’s mining and milling projects into an increasingly favorable uranium mining environment.

About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Maverick Minerals Processing Plant is being licensed in Utah and will include the kinetic separation process.