Mr. George Glasier reports

WESTERN URANIUM & VANADIUM CORP. ANNOUNCES BROKERED LIFE FINANCING UP TO 7.25 MILLION

Western Uranium & Vanadium Corp. has entered into an agency agreement with A.G.P. Canada Investment ULC pursuant to which A.G.P. Canada will act as sole agent and bookrunner for the company on a best efforts agency basis in connection with a brokered private placement financing of up to 5,215,828 units at a price of $1.39 per unit for aggregate gross proceeds of up to $7.25-million. Each unit to be placed in the offering will comprise one common share and one-half of one common share purchase warrant, each whole warrant being exercisable for one common share of the company at a price of $1.88 per share, for a period of four years.

The units to be issued under the offering will be offered to purchasers pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106 -- Prospectus Exemptions in all the provinces of Canada, except Quebec, and in certain other jurisdictions pursuant to applicable securities laws. The securities issuable pursuant to the LIFE exemption will not be subject to any statutory hold period under applicable Canadian securities laws. Western has prepared and filed an offering document relating to the offering that can be accessed under the company's profile on SEDAR+, as well as on the company's website. Prospective investors should read the offering document before making an investment decision.

Closing of the offering is subject to certain conditions and receipt of all necessary approvals, including compliance with the requirements of the Canadian Securities Exchange.

A commission will be paid to A.G.P. Canada on proceeds raised from the offering through its efforts. The commission will comprise a cash commission equal to 7 per cent of the gross proceeds so raised in the offering.

As described in greater detail in the offering document, the net proceeds of the offering will be used as follows: (a) licensing and development of the Maverick mineral processing plant; (b) expand production capability at Sunday mine complex by adding a second mining team to develop the next major ore body and continue underground long hole drilling program; (c) continuation of permitting of San Rafael (Utah) and Topaz mine (Colorado); (d) purchase mining equipment to prepare for a third mining team; and (e) general corporate working capital purposes, including general and administrative costs.

About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium 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.

We seek Safe Harbor.