Toronto, Canada--(Newsfile Corp. - June 15, 2017) - Vanadium One Energy Corp. (TSXV: VONE) (FSE: 9VR1) (the "Company"), is pleased to announce it has entered into its next phase of developing its Mont Sorcier Vanadium project in Roy Township, Quebec, 18 km east of the Town of Chibougamau. The Mont Sorcier property consists of 57 claims which cover the historic Mont Sorcier deposit described in the Company's press release dated November 8, 2016 and in the National Instrument 43-101 Technical Report on the property available on SEDAR. The Mont Sorcier Vanadium project is in the same region as the mining claims owned by Blackrock Metals, a private company which recently announced a $40 million financing to fund their vanadium project.
The Company is pleased to announce that it has begun implementing the work program recommended in the Technical Report released in 2016. Field work will include refreshing old trenches and sampling of the vanadium rich iron formation on the property. Subsequently, a surface exploration drilling program is planned in two phases to convert historical mineral resources to comply with NI 43-101.
The Company will take samples from the trenches and from drilling for metallurgical testing and will apply for a bulk sampling permit to test the extraction of vanadium. It is expected that drilling will also continue to extend the mineral resources as seen fit for economic extraction. The goal of the Company is to fill the gaps in the geological and metallurgical data since the discovery of vanadium on Mont Sorcier in the 1970's.
About Vanadium One Energy Corp.:
Vanadium One Energy is a mineral exploration company located in Burlington, Ontario, Canada. Our primary focus is to acquire "near-term production" exploration mining projects and existing producers. Vanadium One Energy Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
W. John Priestner
President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.