Recent news coverage is largely unrelated to Western Uranium & Vanadium Corp.'s business operations and focuses on broader market and unrelated company topics.

• No recent company-specific news was identified in the primary business news sources reviewed, limiting current public event visibility for Western Uranium & Vanadium Corp. [N3][N4][N1][N2]

Western's proprietary Kinetic Separation technology could significantly reduce production costs by separating high-grade ore from waste early in the process, enhancing operational efficiency. The company's fully permitted Sunday Mine Complex and existing infrastructure provide a platform for scaling production more quickly than competitors facing longer permitting timelines. The ongoing development of a processing plant and stockpiling of ore position the company to capitalize on favorable market conditions for uranium and vanadium.

The company remains in the exploration stage without established mineral reserves, which introduces uncertainty regarding the economic viability of its projects. Market conditions for uranium and vanadium prices are volatile and could impact the timing and scale of production. The transition to in-house mining operations and construction of processing facilities involve execution risks and capital requirements. Regulatory approvals and environmental considerations may also affect project development timelines.

Western's competitive advantage lies in its ownership of fully permitted mining properties with existing infrastructure, allowing for relatively rapid scale-up of production compared to new mines requiring lengthy permitting. The exclusive 25-year license for Kinetic Separation technology offers a cost-efficient processing method that reduces capital and operating expenses, potentially improving margins and operational flexibility. The company's in-house mining capability further supports operational control and efficiency.

• Exploration and Development Risk: Western has not established mineral reserves under SEC S-K 1300, indicating uncertainty in the economic viability of its mineral properties.
• Market Price Volatility: Uranium and vanadium prices are subject to market fluctuations, which can impact the company's ability to commence or scale production profitably.
• Execution Risk: The company faces risks related to building and licensing its processing plant, transitioning to in-house mining operations, and successfully commercializing Kinetic Separation technology.
• Regulatory and Environmental Risk: Mining operations require multiple permits and compliance with environmental regulations, which may delay or restrict operations.

• Western Uranium & Vanadium Corp. is a Canadian domestic issuer headquartered in Toronto, Canada, with mining operations in Utah and Colorado, USA.
• The company focuses on exploration, development, mining, and production of uranium and vanadium resource properties in Utah and Colorado.
• Western owns the Sunday Mine Complex in Colorado, consisting of five individual mines, all fully permitted and currently valid.
• The company acquired Black Range, an Australian company, in 2015, and has multiple wholly-owned subsidiaries related to mining operations.
• Western holds an exclusive 25-year license (expiring 2040) for Kinetic Separation technology, a physical process to separate uranium and vanadium from waste without chemicals, reducing ore mass and improving efficiency.
• Kinetic Separation can separate 85-90% of uranium mineralization into 10-20% of the initial sample mass, reducing capital and operating costs.
• Western is building its own processing plant incorporating Kinetic Separation and has begun facility design and permitting on land in Utah and Colorado.
• The company transitioned from outsourced mining contractors to an in-house mining team, acquiring equipment and personnel to support mining operations.
• Mining operations at the Sunday Mine Complex restarted in April 2023 after upgrades and have been focused on development and ore stockpiling underground.
• Western is classified as an exploration stage issuer under SEC S-K 1300, having not yet established mineral reserves.
• The company raised capital through multiple private placements in 2024 and 2025, issuing common shares and warrants.
• Financial snapshot as of June 30, 2026: cash and equivalents of $3.52 million, current assets $4.11 million, current liabilities $0.66 million, current ratio 6.19, cash ratio 5.3.
• Revenue for the six months ended June 30, 2026 was $199,528 with a net loss of $1,161,884 and basic and diluted EPS of -$0.02 per share.
• The company plans to stockpile mined ore underground to baseload the processing plant once operational.
• Western's strategy includes advancing projects for scaled-up mining production and commercializing Kinetic Separation technology.
• The company is listed on the Canadian Securities Exchange under symbol 'WUC' and on the OTCQX Best Market under 'WSTRF'.
• Western re-qualified as a foreign private issuer in June 2023 but voluntarily continues to file domestic issuer forms with the SEC.