TORONTO, ON / ACCESSWIRE / January 9, 2019 / Vanadium One Energy Corp. (the "Company") (TSXV:VONE), is pleased to announce it has fulfilled its $1,000,000 financial commitment for exploration expenditures to Chibougamau Independent Mines Inc.(CIM) in accordance with the "Option to Purchase Agreement" dated September 29, 2016 and amended on October 14, 2016. As a result, Vanadium One Energy Corp. will acquire title to 100% of all 37 claims of the Mont Sorcier Magnetite Iron Ore and Vanadium Project.
Documents detailing all exploration expenditures since October 2016 were submitted to CIM on December 12, 2018 and an acceptance letter was issued by CIM the same day. The transfer of claim ownership is in progress and will be completed in due course.
"This is a major milestone for the Company as it provides clarity to our shareholders on ownership of our 37 claims that comprise the Mont Sorcier Magnetite Iron Ore and Vanadium Project," said Company CEO, Martin Walter.
Further to this, the Company expects to receive assay results from its recent drilling campaign. The drilling was completed in early December, 2018. Assay results will be published in the very near future.
About Vanadium One Energy Corp.:
Vanadium One Energy Corp. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing the Mont Sorcier, Vanadium-rich, Magnetite Project, in Chibougamau, Quebec. The goal is to define the extent of this resource and demonstrate its economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
Martin Walter, CEO
Tel: 416-599-8547
Rodney Ireland, Investor Relations
Tel: 416-599-8547
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
SOURCE: Vanadium One Energy Corp.