Vancouver, British Columbia--(Newsfile Corp. - June 30, 2021) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) ("First Vanadium" or the "Company") is pleased to announce that it will be changing its name to "Phenom Resources Corp." effective July 6, 2021 to reflect that it is no longer solely focused on vanadium, as it is currently exploring for gold and copper as well as vanadium on its properties.

The Company's common shares will commence trading on the TSX Venture Exchange under the new name "Phenom Resources Corp." at the opening of trading on July 6, 2021, under the new trading symbol "PHNM". A new CUSIP (71743P107) and ISIN (CA71743P1071) has been obtained to replace the previous CUSIP number.

No action will be required by existing shareholders with respect to the name change. Certificates representing common shares of First Vanadium Corp. will not be affected by the name change and will not need to be exchanged. The Company encourages any shareholders with any questions or concerns to contact the Company or to discuss any of the foregoing with their broker or agent.

Paul Cowley, President & CEO of the Company, commented: "We're excited and proud to announce our new branding, website and logo that are both bold and inspirational. This will add to our visibility, clarity and distinction in the market, aligning with our broader based multi commodity path."

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 and Highway I-80. The Project lies in the Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Company's property (5-15km). The Carlin Vanadium-Gold Project also hosts the Carlin Vanadium deposit. The Company also has the AVP gold prospect in the Battle Mountain-Eureka trend of Nevada and the West Jerome copper prospect in Arizona.

ON BEHALF OF FIRST VANADIUM CORP.
per: "Paul Cowley"
Paul Cowley, CEO & President
(604) 340-7711
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as defined by National Instrument 43-101, and President, CEO and director to the Company.

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.

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. 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. Readers should not place undue reliance on 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89080