Western Uranium & Vanadium Corp. · CSE:WUC
Western Uranium & Vanadium — Investor Presentation (June 2025)
37 slides from Western Uranium & Vanadium's investor presentation, June 2025
Slide 1: Strategic U.S. Uranium and Vanadium Assets
Tickers OTCQX:WSTRF CSE:WUC Strategic U.S. Uranium and Vanadium Assets CSE: WUC 2025 OTCQX: WSTRF June
Slide 2: Forward-Looking Disclosure
Tickers OTCQX:WSTRF CSE:WUC Forward-Looking Disclosure Certain information contained in this presentation constitutes “forward-looking information” (as defined in the Securities Act (Ontario)) and/or “forwarding-looking statements” (as defined in the United States Private Securities Litigation Refor
Slide 3: Cautionary Statements
Tickers OTCQX:WSTRF CSE:WUC Cautionary Statements CAUTIONARY STATEMENTS REGARDING MINERAL RESOURCES CAUTIONARY STATEMENTS: Sunday Mine Complex and San Rafael Uranium Project The estimates of “mineral resources” disclosed in this presentation with respect to the Sunday Mine Complex and the San Rafael
Slide 4: Investment Summary
Tickers OTCQX:WSTRF CSE:WUC Investment Summary Sunday Mine Complex Commercial Production • High-grade ore being mined and stockpiled • Additional high-grade target zones being defined and developed • Quick re-start enabled by 2019/2020 exploration, development, and mining • 2021/2022 project generat
Slide 5: Tight Shareholder Capital Structure
Tickers OTCQX:WSTRF CSE:WUC Tight Shareholder Capital Structure 5
Slide 6: Management and Directors
Tickers OTCQX:WSTRF CSE:WUC Management and Directors George Glasier, President, CEO and Director • Founder and leader of Western Uranium & Vanadium Corporation / 30+ years in uranium and vanadium • Extensive experience in sales and marketing, project development and permitting uranium processing fac
Slide 7: Management and Directors
Tickers OTCQX:WSTRF CSE:WUC Management and Directors Bryan Murphy, Non-Executive Director, Chairman • President of Magellan Limited, a firm providing advisory services to public and private companies • CFO and Head of Finance for Biome Renewables Inc., an early stage renewable energy and design and
Slide 8: Commodity Exposure and Applications
Tickers OTCQX:WSTRF CSE:WUC Commodity Exposure and Applications URANIUM • Nuclear Power Reactors: uranium sole fuel source • Highest Energy Density: one 10 gram uranium pellet equals 17,000 cubic feet natural gas = 149 gallons oil = 1 ton of coal • Carbon Free - Baseload Power – Limited Land Use: Ma
Slide 9: Structural Nuclear Fuel Demand Catalysts
Tickers OTCQX:WSTRF CSE:WUC Structural Nuclear Fuel Demand Catalysts • Increasing global nuclear fuel reactor requirements • Reactor restarts, life extensions, new construction, and small modular reactors (SMRs) • Financial intermediaries purchasing physical uranium • Historically low utility invent
Slide 10: Geopolitics Driving Security of Supply Agenda
Tickers OTCQX:WSTRF CSE:WUC Geopolitics Driving Security of Supply Agenda; The West is Dependant Upon BRICs + Former Soviet States Kazakhstan: 43% of 2022 global uranium production1. Russia: 38% of world conversion capacity2. Russia: 46% of world enrichment capacity2. 1 Source: World Nuclear Associa
Slide 11: Uranium Supply / Demand Imbalance
Tickers OTCQX:WSTRF CSE:WUC Uranium Supply / Demand Imbalance • GLOBAL URANIUM SUPPLY DEFICIT: (Uranium Demand – Uranium Production) PRICE IMPACT: Increasing uranium prices to achieve incentive price levels WINNERS: Suppliers of mid-term uranium production 11
Slide 12: President Trump Commitment to USA Energy
Tickers OTCQX:WSTRF President Trump Commitment to USA Energy CSE:WUC • U.S. Nuclear capacity by 2030: Biden Plan was to TRIPLE; Trump Plan raises this to QUADRUPLE • PLUS have 10 new large nuclear reactors under construction by 2030; • PLUS deliver uprates at existing nuclear plants, restart closed
Slide 13: Uranium U3O8 Price (USD$)
Tickers OTCQX:WSTRF CSE:WUC Uranium U3O8 Price (USD$) In January 2024 the uranium spot price exceeded USD$100 per lbs Source: Cameco website: average prices derived from UxC and Trade Tech month-end average 13
Slide 14: Resource Portfolio Summary
Tickers OTCQX:WSTRF CSE:WUC Resource Portfolio Summary Resources Mineralization and Mine Locations(1)(2) ❶ ❷ 10 11 ❸ ❻ (1) See Cautionary Statements on page 3. (2) See full details on pages 31 through 35 of this Presentation. * Indicated Only. 5 9 ⑨ ⑩ ⑧ ❹ Dunn ❺ Van 4 ❼ Weld County Oil & Gas ⑧ Rimro
Slide 15: Sunday Mine Complex, Colorado
Tickers OTCQX:WSTRF CSE:WUC Sunday Mine Complex, Colorado Panaramic view of the SMC from left to right: Sunday, Carnation, St. Jude, and West Sunday Mines 15
Slide 16: Sunday Mine
Tickers OTCQX:WSTRF CSE:WUC Sunday Mine 16
Slide 17: Sunday Mine Complex Portals
Tickers OTCQX:WSTRF CSE:WUC Sunday Mine Complex Portals 17
Slide 18: Sunday Mine Complex High-Grade Ore Bodies
Tickers OTCQX:WSTRF CSE:WUC Sunday Mine Complex High-Grade Ore Bodies 18
Slide 19: Sunday Mine – In Production
Tickers OTCQX:WSTRF CSE:WUC Sunday Mine – In Production 19
Slide 20: In–House Mining Capability
Tickers OTCQX:WSTRF CSE:WUC In–House Mining Capability 20
Slide 21: Ore Purchase Agreement
Tickers OTCQX:WSTRF CSE:WUC Ore Purchase Agreement • Signed Agreement with Energy Fuels Inc. - April 2025 • Reconfiguration of Mining Operations in Preparation – May 2025 • Commence Deliveries to White Mesa Mill in Blanding, Utah – June 2025 21
Slide 22: Rimrock Joint Venture
Tickers OTCQX:WSTRF CSE:WUC Rimrock Joint Venture 50 / 50 Joint Venture with Rimrock Exploration and Development Inc. • Production-ready mines: fully permitted and developed • Previously producing mines; resumed Mining Operations November 2023 • J-Bird Mine: near Paradox, Colorado – 7.5 permitted ac
Slide 23: San Rafael Project, Utah
Tickers OTCQX:WSTRF CSE:WUC San Rafael Project, Utah • Development project situated on ~3,540 acres in Emery County, Utah • San Rafael Uranium District and Tidwell Mineral Belt location • More than 3,000 historic holes drilled; last drill program 2007 to 2009 • Last NI 43-101 Technical Report update
Slide 24: Mustang Mineral Processing Facility
Tickers OTCQX:WSTRF CSE:WUC Mustang Mineral Processing Facility (Wholly owned subsidiary of • Location: Montrose County, Colorado Western Uranium & Vanadium Corp.) • Recovery: uranium and vanadium • Proposed Licensed Capacity: 1,000 tons of U3O8 per day • Acquired ~900 acre former Pinon Ridge Mill p
Slide 25: Maverick Minerals Processing Plant
Tickers OTCQX:WSTRF CSE:WUC Maverick Minerals Processing Plant (Wholly owned subsidiary of • Location: Green River Industrial Park, Emery Western Uranium & Vanadium Corp.) County Utah • Recovery: uranium and vanadium • Proposed Licensed Capacity: 1,000 tons of U3O8 per day • ~400 acre site selected
Slide 26: Kinetic Separation
Tickers OTCQX:WSTRF CSE:WUC Kinetic Separation • Feedstock sandstone-hosted deposits • Uranium and vanadium minerals exist within the matrix of sandstones and as a patina around individual sand grains • Uses kinetic energy to force particles against each other, without any chemicals, to remove the m
Slide 27: Kinetic Separation Benefits
Tickers OTCQX:WSTRF CSE:WUC Kinetic Separation Benefits At the Mine • Observed >90% of mineralization separated into <10-20% of the mass • Barren material (cleaned sands) can be used for backfill Transportation • Up to ~90% reduction in transport costs Processing • Up to ~90% less material to proces
Slide 28: Hansen/Taylor Ranch Project, Colorado
Tickers OTCQX:WSTRF Hansen/Taylor Ranch Project, Colorado CSE:WUC • Tallahassee Creek Uranium District development project in Fremont County, Colorado • 13,000 total project acres are among largest historic U.S. uranium resources; Western controls majority • Sandstone hosted deposits at shallow dept
Slide 29: Oil & Gas Property Weld County Colorado | DJ-Basin
Tickers OTCQX:WSTRF Oil & Gas Property CSE:WUC Weld County Colorado | DJ-Basin Bullen Oil & Gas Property (160 acres) - royalty interest in a 3,200 acre pooled unit • D-J Basin wells developed by Mallard Exploration and acquired by Bison Oil & Gas (2023) • 2020 Operator completed permitting on 16 wel
Slide 30: Company Plans 2025
Tickers OTCQX:WSTRF CSE:WUC Company Plans 2025 Historic Background Western was founded in 2014 to acquire conventional uranium property packages in the post- Fukushima downturn. This included the Sunday Mine Complex (SMC) that was fully developed by Union Carbide for almost $50 million in the 1970’s
Slide 31: Investment Summary
Tickers OTCQX:WSTRF CSE:WUC Investment Summary Uranium Investment Thesis The electrification-of-everything trend is expanding electricity requirements. Climate change/ clean energy policy, security of supply initiatives, government support, and new technologies are launching a multi-decade growth pe
Slide 32: Contact Information
Tickers OTCQX:WSTRF CSE:WUC Contact Information Canadian Office 5 Church Street Toronto, Ontario M5E 1M2 Canada U.S. Office 31525 Hwy 90 Road P.O. Box 825 Nucla, CO 81424 United States Phone : (970) 778-9195 gglasier@western-uranium.com Investor Relations ir@western-uranium.com 32
Slide 33: Sunday Mine Complex – Technical Report Disclosure and Qualified Person
Tickers OTCQX:WSTRF CSE:WUC APPENDIX SUNDAY MINE COMPLEX -- Technical Report Disclosure and Qualified Person The following Uranium and Vanadium Resources have been reported on Western’s Sunday Mine Complex 1. This information was reported in the Technical Report on the Sunday Mine Complex Uranium Pr
Slide 34: San Rafael Uranium Project – Technical Report Disclosure and Qualified Person
Tickers OTCQX:WSTRF CSE:WUC SAN RAFAEL URANIUM PROJECT -- Technical Report Disclosure and Qualified Person The following Uranium and Vanadium Resources have been reported on Western’s San Rafael Uranium Project1. This information was reported in the NI-43-101 Technical Report on the San Rafael Urani
Slide 35: Sage Mine – Project Disclosure and Project Notes
Tickers OTCQX:WSTRF CSE:WUC SAGE MINE (from Sage Plain Project) – Project Disclosure and Project Notes The following Uranium and Vanadium Resources have been reported on Western’s Sage Mine . This project is not currently considered by Western as a material property of Western. This information was
Slide 36: Hansen/Taylor Ranch – Project Disclosure and Project Notes
Tickers OTCQX:WSTRF CSE:WUC Hansen/Taylor Ranch – Project Disclosure and Project Notes The following Uranium and Vanadium Resources have been reported on Western’s Hansen/Taylor Ranch Project. This project is not currently considered by Western as a material property of Western. This information was
Slide 37: Hansen/Taylor Ranch – Project Disclosure and Project Notes (continued)
Tickers OTCQX:WSTRF CSE:WUC Hansen/Taylor Ranch – Project Disclosure and Project Notes (continued) It is Tetra Tech’s opinion that the estimated resources presented in the above table met current CIM 43-101 and JORC standards for mineral reporting under the Australasian Code for Reporting of Explora
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