July 14, 2026
Toronto, Ontario and Nucla, Colorado, July 14, 2026 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to provide an update on its progress toward submitting the radioactive materials license application for the Mustang Mineral Processing Plant ("Mustang"), located at the former Pinon Ridge Mill site in Montrose County, Colorado.
Western continues to make substantial progress in advancing its processing capabilities—a critical, near-term component of the domestic uranium supply chain.
Permitting and Environmental Milestones On Track
Western is collaborating with a roster of eight specialized consultants and sub-consultants. The team is actively preparing the radioactive materials license application for the Colorado Department of Public Health and Environment (CDPHE) while simultaneously working to acquire a Special Use Permit from Montrose County, Colorado.
To maximize operational and capital efficiency, Western is leveraging digital versions of the previously licensed Pinon Ridge Mill application, securing significant cost and time savings.
Key environmental milestones for the project site include:
Environmental and Cultural Surveys: Successfully completed, fully validating the proposed project footprint.
Air and Water Baseline Data:
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At the end of June 2026, four quarters of air quality data collections were completed to align with the previously completed production well water collections.
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Two quarters of monitor well, surface, and river water collections have been concluded.
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The third quarter of water data will be completed this month, with the final collections scheduled for the first week of October 2026.
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This rigorous baseline program ensures the highest standard of environmental compliance.
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Target Timeline: Western confirms it remains on track to submit the full license application by the end of 2026, with the strategic goal of preserving the entire calendar year 2027 for the CDPHE application review process.
Mustang: A High-Scale, High-Margin Production Hub
Mustang is designed to transform Western into a cornerstone producer and significantly drive company performance by establishing a localized, conventional processing hub for uranium and vanadium resources within the Uravan Mineral Belt. The Company's goal is to revitalize the Four Corners region as a major source of conventional domestic uranium, unlocking tens of millions of pounds of historic resources.
Capacity: Mustang is designed for a throughput capacity of 1,000 tons per day, and once permitted will be constructed modularly.
Dual-Revenue Model: This scale will comfortably accommodate Western's proprietary ore production while dedicating significant toll-milling capacity for third-party ore.
Shareholder Value: For Western shareholders, this dual utility establishes a highly predictable, high-margin recurring revenue stream that directly enhances profitability and corporate financial resilience.