American Vanadium Aims to Be the Greenest Mine in America
Vanadium Battery, Solar & Wind Microgrid Being Evaluated for the
Gibellini Project
AMERICAN VANADIUM CORP. ('American Vanadium? or the 'Company?) (TSX.V:
AVC) (OTC: AVCVF.PK) has engaged Hanlon Engineering to evaluate the
installation of renewable energy generation for the Gibellini Project
site in central Nevada. The system would include a vanadium flow battery
combined with integrated solar and wind electric power generation
capable of providing energy in excess of the needs of the proposed
Gibellini Mine.
'We are taking a leadership role in the development of the vanadium
flow battery industry in North America based on having the only
significant US based vanadium deposit in the development stage,? stated
Bill Radvak, President & CEO of American Vanadium. 'Demonstrating the
viability of renewable power generation combined with vanadium storage
batteries to power mining projects is important to both our corporate
strategy and our environmental commitment to green energy at the
Gibellini.?
'In its March 2012 forecast, Lux Research, Inc., estimates grid
storage demand will be $113 billion by 2017 at which time Vanadium Flow
Batteries are expected to become the battery leader with a 33% market
share,? continued Mr. Radvak.'This highlights the growing value
of having the only significant in-ground supply of vanadium in the US.?
About Hanlon Engineering & Architecture, Inc.
Hanlon Engineering & Architecture is a multi-disciplined, full service
engineering firm. They are a leading supplier of engineering, electrical
systems design, construction management, and specialty engineering
services in the western United States, as well as Central and South
America, with more than 25 years of experience in industrial, technology
and manufacturing design.
About American Vanadium Corp.
American Vanadium is currently developing the only vanadium mine in the
United States. This strategic asset gives the Company the opportunity to
vertically integrate itself and its vanadium production into the highest
value market, grid energy storage. American Vanadium will be seeking
major joint venture partners in the solar, wind and grid-scale battery
manufacturing industries.
The Company′s Gibellini Project, located in Nevada, is unique in its
design to economically produce vanadium electrolyte for the energy
storage industry, as well as vanadium pentoxide for the steel and
alloying industries. A positive Feasibility Study and updated National
Instrument 43-101 Technical Report on the Gibellini project were
completed by AMEC E&C Services, Inc. in 2011.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements: This press release contains
'forward-looking information? within the meaning of applicable Canadian
securities laws, including statements regarding the expected use of
proceeds from the Private Placement, and future plans and objectives for
the Gibellini Project. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of American Vanadium to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking information.
Forward-looking information includes estimates of mine production rates
and mine life, revenues from future mining operations, capital and
operating costs, and pay-back period.Factors that may cause
actual results to vary include, but are not limited to, actual results
of current exploration activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future
prices of vanadium; possible variations in reserves, grade or recovery
rates; changes to capital and operating cost estimate, delays in
obtaining governmental approvals or financing or in the completion of
development or construction activities. Although American Vanadium has
attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. American Vanadium does not undertake to update any
forward-looking statements, except in accordance with applicable
securities laws.
American Vanadium Corp.
Bill Radvak, 604-488-5417
President
& CEO
bradvak@americanvanadium.com
or
Mike
Hyslop, 604-488-8795
Director, Corporate Development
mhyslop@americanvanadium.com
or
Web
site: www.americanvanadium.com
