TORONTO, ON / ACCESSWIRE / March 15, 2017 / Vanadium One Energy Corp. (VONE.V) (9VR1.F) (the "Company"), pleased to inform shareholders that it has paid Chibougamau Independent Mines Inc. (CBG.V) (STUT:CLL) (CMAUF) the cash payment of $150,000 pursuant to the option agreement for the Mont Sorcier Vanadium-Iron-Titanium project in Roy Township, Quebec, 18 km east of the Town of Chibougamau (as previously disclosed in our news release dated November 8, 2016). The Company has now fulfilled both payment terms of the option agreement and the Company will receive 100% interest in the Mont Sorcier Vanadium-Iron-Titanium project upon spending a minimum of $1 million of exploration in the first 24 months following signature of the agreement. Chibougamau Independent Mines will retain a 2% Gross Metal Royalty on all mineral production from the property.
About Vanadium One Energy:
Vanadium One Energy is a mineral exploration company located in Burlington, Ontario, Canada. Our mandate is to acquire near-term production exploration mining projects and existing producers which focus specifically on "Energy Minerals" used in the rapidly growing Electro-Voltaic and Battery Storage Technology sector. Vanadium One Energy Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
W. John Priestner
President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Vanadium One Energy Corp.