2012-12-24 15:04:09 -
Vancouver, British Columbia CANADA, December 24, 2012 /FSC/ - American Vanadium Corp. (TSX.V: AVC)(OTCQX: AVCVF)("American Vanadium" or the "Company") announces the submission of the Plan of Operations for the Gibellini Project in Nevada to the US Bureau of Land Management (BLM) which, upon the agency's determination of completeness, initiates the National Environmental Policy Act (NEPA) review process. Additionally, the Company has submitted a Reclamation Plan to the Nevada Division of Environmental Protection.
"This is a major step forward in our mine permitting process," said Bill Radvak, President & CEO of American Vanadium. "The BLM, the Nevada Division of Environmental Protection and Eureka County have all been very supportive and a pleasure to work with on this project, providing both regulatory
and technical direction to enhance the project's environmental protection measures and streamline the permitting process."
The Plan of Operations details the plan for the Gibellini Project from mine design, to processing facilities, to the reclamation and closure plan. Importantly, the Plan of Operations incorporates numerous product outputs for high purity vanadium products for the titanium alloying industry as well as electrolyte for the vanadium flow battery market. In addition, the Plan of Operations incorporates a micro grid design utilizing solar power generation and a vanadium battery which will be capable of powering the mine off-grid.
About American Vanadium Corp.
American Vanadium is developing the only vanadium mine in the United States. The Company's Gibellini Project, located in Nevada, is being designed to economically produce vanadium products for the chemical and titanium alloying industries, as well as vanadium electrolyte for the energy storage industry.
This strategic asset gives American Vanadium the opportunity to vertically integrate into the highest value market, mass energy storage. The Company will focus on producing vanadium electrolyte, powders, crystals and oxide pellets for premium markets such as grid scale flow battery systems, chemical and pollution control applications as well as for the aerospace and defense industry.
A positive Feasibility Study and updated National Instrument 43-101 on the Gibellini Project were completed by AMEC E&C Services in 2011.
American Vanadium trades on the TSX Venture Exchange as a tier-one company under the symbol "AVC", the OTCQX Market under the symbol "AVCVF" and the Frankfurt Stock Exchange under the symbol "0UA".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Bill Radvak, President & CEO
(604) 681 8588 X 101
Mike Hyslop, Director, Corporate Development
(604) 681 8588 X 102
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the expected use of proceeds from the Private Placement, and future plans and objectives for the Gibellini Project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of American Vanadium to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Forward-looking information includes estimates of mine production rates and mine life, revenues from future mining operations, capital and operating costs, and pay-back period. Factors that may cause actual results to vary include, but are not limited to, actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of vanadium; possible variations in reserves, grade or recovery rates; changes to capital and operating cost estimate, delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although American Vanadium has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. American Vanadium does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Suite 1028, 550 Burrard Street,
Vancouver, B.C., Canada V6C 2B5
Tel: (604) 681-8588
Fax: (604) 681-4692
To view this press release as a web page, click onto the link below:
Source: American Vanadium Corp.(TSXV: AVC) www.americanvanadium.com
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