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Vancouver, British Columbia- First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (formerly Cornerstone Metals Inc.) ("First Vanadium" or the "Company") reports that metallurgical test work on nine variability composite samples from the Carlin Vanadium deposit is in its final stages, with results to be reported in early April 2019.

The Company commenced acid leach and pressure oxidation test procedures on a single composite sample from the deposit in April 2018. In June 2018, the reported preliminary test work had returned 95.5% vanadium extraction into solution. Since then, the procedure has been further refined and the Company has progressed to the stage of variability test work. Variability test work typically uses multiple samples from across a deposit to determine the processing consistency for a given procedure.

Nine composite samples have been derived from drill holes across the Carlin Vanadium deposit to test the variability of two different ore types (oxidized and unoxidized shale) of varying vanadium grades (low, average, and high). The results of the variability test work are expected to be available in early April 2019. This variability work will provide a good indication of the expected average and range of vanadium extractions across the deposit and form the basis for ongoing advancement of the process flow sheet. The work is being conducted by Sherritt Technologies, a leader in the development and commercialization of pressure hydrometallurgical processes.

In addition, downstream solvent extraction test work to produce ammonium metavanadate, leading to a final vanadium pentoxide product is being initiated by SGS Canada, a leading supplier of proven, advanced metallurgical services at its Lakefield, Ontario facilities.

• [Editor:tianyawei]