Western Uranium closes lode claim acquisition

Executive Summary

• Western Uranium & Vanadium Corp. closed the acquisition of unpatented mineral lode claims, securing a 50% ownership interest in a historic uranium‑vanadium deposit.
• The newly acquired “Uranium Ridge” property adds significant exploration potential and is located adjacent to the proposed Mustang processing plant, enhancing logistics and reducing haulage costs.
• The transaction expands Western’s portfolio of conventional U.S. uranium and vanadium assets, supporting near‑term production goals and shareholder value creation.

Key Details

• Acquisition closes on previously announced terms (Oct. 6, 2025 announcement).
• Ownership: 50% interest in the historic drilled‑out uranium‑vanadium deposit.
• Additional surrounding claims were also acquired, forming the “Uranium Ridge” project (includes former Baboon Basin and Sawtooth claims).
• Strategic proximity to Mustang mineral processing plant site – expected to lower haulage costs, streamline logistics, and improve processing efficiencies.
• Strengthens Western’s asset base that includes Sunday mine complex, Sage mine, Van 4 mine, and San Rafael projects.
• CEO George Glasier highlighted the deal as a means to expand strategic footprint, create shareholder value, and meet rising nuclear fuel demand.

Notable Quotes

“The successful closing of this acquisition demonstrates our continued focus on expanding the company's strategic footprint in uranium‑rich districts of the Western United States… we are creating meaningful shareholder value and positioning the company to meet the rising demand for nuclear fuel.” – George Glasier, CEO, Western Uranium & Vanadium Corp.