Mr. George Glasier reports

WESTERN URANIUM & VANADIUM CORP. ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING

Western Uranium & Vanadium Corp. has released the results of the company's annual general and special meeting of shareholders held in Nucla, Colo., on June 29, 2023.

Proxy votes were cast for common shares, representing approximately 46.1 per cent of the issued and outstanding common shares of the company as at the record date for the meeting. Each of the other matters put forward before shareholders for consideration and approval at the meeting, as described in the company's management information circular dated May 24, 2023, was duly approved by the requisite number of votes.

Election of directors

At the meeting, the shareholders re-elected all of the directors proposed by management of the company, namely, George Glasier, Bryan Murphy and Andrew Wilder.

Appointment of auditor

The shareholders reappointed MNP LLP as auditor of the company for the ensuing year, and authorized the board to fix the auditor's remuneration.

Incentive stock option plan

The 2023 incentive stock option plan of Western Uranium was approved at the meeting, and must be reapproved by Western Uranium's shareholders no later than the date that is three years from the date of the meeting.

Shareholder rights plan

The shareholder rights plan was approved for a period of three years. For further details on the shareholder rights plan, please refer to the news release issued by the company on May 26, 2023.

Reappointments

Subsequent to the meeting, the newly elected board reappointed Mr. Murphy as chairman of the board and reappointed Mr. Wilder as chairman of the audit committee.

The following management reappointments were confirmed for the ensuing year: Mr. Glasier, president and chief executive officer; Robert Klein, chief financial officer; and Denis Frawley, corporate secretary.

About Western Uranium & Vanadium Corp.

Western Uranium is a Colorado-based uranium and vanadium conventional mining company focused on low-cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.