CleanTech Provides Update on Robinson-Lasher Asset Sale Transaction

CleanTech Vanadium Mining Corp. confirmed it received an initial cash payment of US$85,000 and 6,300,000 common shares, valued at $0.13 per share, from Silver Elephant Mining Corp. for the Robinson-Lasher zinc-germanium-gallium deposit. The transaction is classified as non-arm's length due to overlapping directors and officers between the two companies, a status that required and obtained disinterested shareholder approval.

A condition precedent for the transfer of title requires CleanTech's subsidiary to exercise an option to acquire underlying fluorspar projects, comprising approximately 7,180 acres in Kentucky and Illinois, from a third-party vendor. The option exercise involves a total group price of US$4,000,000 or a single group price of US$2,250,000. CleanTech has already paid US$500,000, with future payments due in September 2027, 2028, and 2029. Additionally, Silver Elephant must commit US$2,000,000 in exploration expenditures and prepare an NI 43-101 technical report for the Robinson-Lasher property.

Cleantech Vanadium Mining Corp. (CTV) released a statement confirming the execution of the first milestone in its June 12, 2026, asset sale, noting that cash and shares have been received. This development validates the company’s strategic pivot away from non-core base and precious metals toward fluorspar, aligning with management’s stated objectives.

The transaction includes a condition precedent requiring the exercise of a fluorspar option, which ties up capital and necessitates future cash outlays. However, the company states that the deal directly supports its core thesis and does not materially alter its financial position or near-term liquidity profile. Given prior market awareness of the sale terms, the impact of this milestone confirmation is considered incremental and expected.

Cleantech Vanadium Mining Corp. (CTV) is concentrating its operations on fluorspar development at the Campbell-Crotser project in Kentucky and vanadium exploration at the Gibellini site in Nevada. The company’s flagship asset, the Campbell-Crotser Fluorspar Project, encompasses approximately 275 acres within the Illinois-Kentucky Fluorspar District. Historical data from a 1974 estimate indicated a resource of roughly 805,841 tons grading 37.10% CaF2. CTV aims to submit permits by November 2026, with first product delivery targeted for 2028.

In Nevada, the Gibellini Project hosts a vanadium deposit with an inferred resource of approximately 195 million pounds of V2O5 across the Gibellini, Louie Hill, and Bisoni-McKay areas. The company is currently preparing updates for a feasibility study and a preliminary economic assessment.

Additionally, CTV holds the El Triunfo gold project in Bolivia, where surface sampling returned grades of up to 12.9 g/t Au. A conceptual starter pit has been modeled for the West Block, and the company plans to conduct bulk sampling and metallurgical testing. To support these initiatives, CTV is divesting the Robinson-Lasher asset to direct capital and management focus toward fluorspar development and permitting.