First Vanadium Announces Board Changes

Vancouver, British Columbia--(Newsfile Corp. - November 22, 2019) - First Vanadium Corp. (TSX-V: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") announces today the resignation of Mr. Frederick Sveinson as a director effective immediately due to personal health issues. Mr. Sveinson has been a director of the Company since its inception in 2006 and has been an instrumental contributor in advancing the Company and its projects over the years. "On behalf of the Board of the Company, I would like to thank Fred for his invaluable efforts, dedication and contributions over the years", said Paul Cowley, CEO, President and a director of the Company.

The Company also announces that Mr. Michael Mracek, P.Eng., has been appointed to its Board of Directors effective immediately. Mr. Mracek has been a member of the Company's Advisory Board since April 2017, providing consulting services as a senior mining advisor to the Board as the Company advances its Carlin Vanadium Project. Mr. Mracek is a seasoned senior operations professional mining engineer registered in the provinces of Ontario and British Columbia. A graduate of the University of Saskatchewan in 1970, he spent his summers working underground at Eldorado, United Keno Hill, and Placer's Craigmont sublevel caving operation. He moved to Thompson, Manitoba in 1970 where he spent 10 years with Inco, learning his craft from the bottom up. In the 1980's, he moved on to Dickenson, Amok Cluff Mining, and Terra Mines becoming a Chief Engineer, Mine Superintendent, and finally Mine Manager. In 1990 he moved to Timmins where he spent 5 years for Royal Oak as General Manager at several mines including: Pamour, Hope Brook, and Colomac. Commencing in 1996, spent 11 years overseas where he worked in Ghana, Armenia, and Tanzania for Ashanti Goldfields, Sterlite Gold, and Barrick Gold in various capacities including VP and General Manager. He returned to Canada as Chief Operating Officer for Tournigan Gold before returning to Ghana as VP and General Manager of Golden Star's Wassa operation. Since 2011, he has provided consulting services through Mracek Consulting, working for major consulting firms, including SRK and SNC-Lavalin, advising on various studies, including feasibility studies. The Company is very pleased to have Mr. Mracek join the Board with his skill set.

About First Vanadium Corp.
First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada on Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit, which is flat to shallow dipping and at shallow depths with strike length of approximately 1,800 metres, width averaging 600 metres and thickness ranging from 15 metres to 50 metres. The Company announced its maiden resource February 27, 2019.

ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
CEO & President
(778) 655-4311
[email protected]
www.firstvanadium.com

Neither the 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 information
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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