• February 10, 2020

Metallurgical Test Work Confirms Premium High Grade at the Mont Sorcier Iron Ore and Vanadium Project

Published on February 10th, 2020

TORONTO, CANADA, February 10, 2020 – Vanadium One Iron Corp. (“Vanadium One” or the “Company”) (TSXV:VONE), is pleased to announce that it has received the results of the Metallurgical Test Work conducted on drill samples from its 100% owned Mont Sorcier Iron Ore and Vanadium Project in Quebec.

Vanadium One engaged COREM to complete initial metallurgical tests to confirm and update previous historical work. COREM is a center of expertise and innovation in mineral processing with the largest concentration of resources dedicated to research and development in this field in Canada. COREM has over 20 years of experience having worked on several iron ore projects in Quebec and around the world.

Cliff Hale-Sanders, President and CEO, commented on the results saying “we are very pleased that the results demonstrate that the Mont Sorcier project is able to deliver a premium, high grade, iron ore product with recoverable vanadium credits. In addition, the concentrate chemistry, with low titanium levels, supports that the concentrate is amenable as direct feed to blast furnaces.

These results are being incorporated into an ongoing Preliminary Economic Assessment that is expected to be completed in the coming weeks, which we anticipate will highlight the inherent value in the Mont Sorcier project.”

The objective of the study was to carry out grindability and concentrability work on composite samples. The grindability tests included the standard Bond abrasion test (Ai), the rod (RWI) and ball mill (BWI) work indexes and the SAG variability test (SVT). The concentrability test work included preconcentration using dry Low Intensity Magnetic Separator (LIMS) and concentration using a Davis tube test and laboratory wet LIMS.

COREM processed drill core composite samples from four zones of the deposit: North High Grade (NHG), North Low Grade (NLG), South High Grade (SHG) and South Low Grade (SLG) with corresponding head grades as illustrated in Table 1.

Qualified Persons Statements

The technical information contained in this news release has been reviewed and approved by Pierre-Jean Lafleur, P.Eng. (OIQ), who is a Qualified Person with respect to the Company’s Mont Sorcier Project as defined under National Instrument 43-101. The Mineral Resource Estimate (MRE) is the responsibility of CSA Global and Dr. Luke Longridge and Dr. Adrian Martinez, acting independently, are the Qualified Persons with respect to the MRE.

In December 2019, Vanadium One Iron Corp announced that it has retained the services CSA Global pty Ltd, a globally recognized independent consulting group to CSA Global Pty. Ltd. to assist in advancing the company’s Mont Sorcier magnetite iron ore and vanadium project, located in Chibougamau, Que. Under the terms of the contract, CSA Global will provide technical, preliminary mine design and concentrator flowsheet and deliver a Preliminary Economic Assessment (PEA) and a National Instrument 43-101 technical report for the Mont Sorcier project. CSA Global already has significant knowledge of the Mont Sorcier project having completed the NI43-101 resource statement earlier this year. The Company expects to release the results of this work in Q1/2020.

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