First Vanadium Drill Results Reinforce Continuity of High-Grade Mineralization including 41.15m (135ft) of 0.84% V2O4 at the Carlin Vanadium Project, Nevada

Date: Jan 11, 2019

First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.)  (“First Vanadium” or the “Company”) is pleased to announce results from an additional 17 confirmation drill holes from within and along a 1,220 metres (“m”) (4,000ft) corridor of mineralization at its Carlin Vanadium Project located 6 miles south of Carlin, Nevada. Three highlight intervals from this drilling encountered 41.15m (135ft) grading 0.84% vanadium (“V2O5”), 38.1m (125ft) grading 0.75% V2O5 and 27.43m (90ft) grading 0.84% V2O5. The average grade of these 17 holes is 0.54% V2O5. The average estimated true thickness of the zone in these 17 holes is 33.7m (110ft). The highlights of the 17 holes are tabled below.

First Vanadium President and Chief Executive Officer, Paul Cowley stated, “We continue to be pleased with these drill results that reinforce continuity of a thick, shallow, near horizontal bed of high-grade vanadium mineralization, correlating well to the nearest previous drill holes and improving drill density. Remaining drill assay results from an additional 25 exploratory holes, are expected to be released next week.”

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