Mike Doyle, Executive VP, Operations of American Vanadium Corp. Receives Long Term Incentive
Vancouver, British Columbia CANADA, August 08, 2011 /FSC/ - American Vanadium Corp. (AVC - TSX Venture), (or the "Company") announces that it has agreed to the issuance, in four tranches, of up to 500,000 performance shares of the Company's common shares to Mike Doyle, Executive Vice President, Operations. The performance shares will be issued upon the completion of certain milestones linked to the completion of a feasibility study, permitting and a final tranche of 250,000 shares upon achieving economic production at the Company's Gibellini Vanadium Project, located in Nevada.
Michael Doyle has more than 30 years of domestic and international mining experience in surface and underground operations, most recently as Executive Vice President of Allied Nevada Gold Corp. Prior to joining Allied Nevada Gold Mr. Doyle held positions of Senior Vice President of Operations for Kinross Gold Corporation, Vice President and General Manager of Round Mountain Gold Corp, (Kinross-Barrick joint venture), General Manager of Gold Bar operations for Atlas Gold Corp. He graduated in 1977 from the University of California at Santa Barbara with a degree in geology and was the past chairman of the Nevada Mining Association.
"We are very fortunate to have Mike on the team," stated Bill Radvak, President and CEO of American Vanadium Corp. "Having built three mines in Nevada, his experience, insight and leadership will be invaluable as we move towards production of America's only vanadium mine."
About American Vanadium Corp.
American Vanadium is currently developing the Gibellini Vanadium Project, a vanadium resource located in Nevada, USA. Vanadium is a critical alloying metal used to strengthen steel and titanium; and is also growing in importance in the emerging uses of mass energy storage and next generation lithium-vanadium batteries. The Company's Gibellini Vanadium Project is unique in its ability to have economic production of vanadium for the steel and alloying industries as well as vanadium electrolyte for the mass storage industry.
A Scoping Study and NI 43-101 have been completed by AMEC EC Services and are available at www.sedar.com or the Company's website www.americanvanadium.com.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Mike Hyslop, Director, Corporate Development
Phone: 604 488-8795
Email: mhyslop@americanvanadium.com
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. 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; 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.
Suite 1028, 550 Burrard Street,
Box 61, Vancouver, BC,
Canada V6C 2B5
Tel: 604.689.1428
Fax: 604-682-3941
www.americanvanadium.com
To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/americanvanadium08082011.htm
Source: American Vanadium Corp.(TSXV: AVC) http://www.americanvanadium.com
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com