Overview

American Vanadium Corp. (TSXV:AVC, OTCQX:AVCVF), formerly Rocky Mountain Resources (TSXV:RKY), is developing the Gibellini Project, 25 miles south of Eureka, Nevada. The Vanadium Hill Deposit on the Gibellini Project has a defined resource of 122 million pounds of V2O5 and an inferred resource of 16 million pounds.

Investment Highlights

• Defined resource, scoping study and moving towards production
• Open Pit Heap leach operation with a strip ratio of 0.2 or 80% Ore
• Low capital, low production cost, mining friendly jurisdiction
• Multiple discoveries indicate strong potential for resource expansion

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Key Property

Gibellini Property

The project's NI 43-101 compliant resource represents 131.369 million pounds of measured and indicated vanadium (i.e., vanadium pentoxide or V₂0₅) grading at 0.30%, and an additional 48.96 million pounds of inferred vanadium grading at 0.172% (more NI 43-101 details further below).

The Gibellini Project is located in Eureka County, Nevada, about 27.5 miles south of the town of Eureka. The property is situated on the east flank of the Fish Creek Range in the Fish Creek Mining District and is easily accessed by dirt road extending westward from US Highway 50.

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The project is comprised of 232 unpatented lode claims and 7 placer claims totaling approximately 4,254 acres in U.S. state of Nevada, which is ranked among the world's top 10 mining jurisdictions. Opportunities also exist to further expand the project beyond its current definition.

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The Gibellini Project delivered a feasibility study September 2011 and is solidly tracking towards production (subject to permitting), which would make American Vanadium the only primary vanadium mine in the U.S..

The Company is undertaking a feasibility Study basecase under which mine production is projected to average 11.4 million pounds of vanadium pentoxide per year. This will enable Gibellini to potentially supply 5% of current global vanadium demand. A scoping study completed by AMEC E&C Services Limited in October 2008 and a feasibility study completed by AMEC E&C Services Limited September 2011 has guided project development.

According to the feasibility study, American Vanadium could potentially become the lowest cost primary vanadium producer in the world with a strip ratio of 0.22 and a unit operating cost of $4.10/lb.

Complete results of the feasibility study highlights are displayed below:

• Internal Rate of Return (IRR) 43%
• Net present value $170.1 million at 7% discount rate
• Payback 2.4 years
• Average grade 0.302% vanadium pentoxide (V2O5 )
• Strip ratio 0.22 to 1 (waste:ore)
• Mining Operating Rate 3.5 million tons per year (ore and waste)
• Average V2O5 recovery 65.9%
• Average annual production 11.4 million pounds V2O5
• Operating cost $4.10 per pound V2O5
• Capital cost $95.5 million (incl. $10.7 million contingency)
• Average V2O5 selling price $10.95 per pound (Roskill Consulting Group)
• V2O5 selling price range $7.68 - $13.63 per pound (Roskill Consulting Group)

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To view the complete results of the study, click here.  ^[5]

American Vanadium Advisors

In April 2010, American Vanadium hired Byron Capital Markets to introduce American Vanadium to capital market participates and strategic investors. Byron will also advise on strategies to maximize shareholder value and assist with external growth initiatives such as mergers, acquisitions and joint ventures.

Byron is a leader in investment banking of vanadium and lithium companies. Byron's focus on lithium and their lithium index have made them a leader in coverage of strategic minerals and the exploration and development companies involved with those strategic minerals.

Management

Bill Radvak, BASc - President, CEO and Director

Mr. Radvak received a Mining and Mineral Process Engineering Degree (1986) from the University of British Columbia. Mr. Radvak is a co-founder and past Chief Executive Officer of Response Biomedical Corporation, a publicly listed medical device company that commercializes rapid immunoassay diagnostic tests for its marketing partners, 3M and Roche Diagnostics. Mr. Radvak led the Response Biomedical from its evolution to a 90-employee company and raised in excess of $50 million in public offerings.

Michael Doyle - Executive VP, Operations

Mike Doyle has more than 30 years of domestic and international mining experience in surface and underground operations, most recently as Executive Vice President of Allied Nevada Gold Corp. Prior to joining Allied Nevada Gold Mr. Doyle held positions of Senior Vice President of Operations for Kinross Gold Corporation, Vice president and General Manager of Round Mountain Gold Corp, (Kinross-Barrick joint venture), General Manager of Gold Bar operations for Atlas Gold Corp.. He graduated in 1977 from the University of California at Santa Barbara with a degree in geology and was the past chairman of the Nevada Mining Association.

Ron Espell, BSc - VP Environment

Ron Espell, has more than 30 years of domestic and international mining experience, primarily, most recently with Barrick Gold as Corporate Environmental Director with responsibilities for new project development, permitting and financing, environmental oversight of operating mines, and the development and implementation of Environmental Management Systems. Mr. Espell held roles within Barrick as Environmental Manager at Barrick's Goldstrike Mine and Environmental Director for the Barrick Australia Pacific and African Regions. Before joining Barrick, Mr. Espell was with the Nevada Division of Environmental Protection, where he helped develop and implement Nevada mining environmental regulatory programs.

Paul Casey, MBA - Director of Business Development

Has over 12 years experience in the highly regulated medical device industry and has managed several large projects from concept to market. His experience is in strategic business planning , business tactics and developing or structuring new businesses partnerships with multinational companies. He has masters degrees in science and business and will be focusing his efforts solely into the vertical integration of our vanadium products into multiple markets.

Michael Hyslop - Director, Corporate Development 

Mr. Hyslop has worked as a licensed stock broker where he focused on venture capital financing in the resource sector. He has consulted for several resource company's since leaving the brokerage community providing advice and support in financings.

John Downes - Chief Financial Officer

John Downes joined American Vanadium as CFO in August 2011 and has over 10 years of management and accounting experience in the natural resource and financial services sectors. Mr. Downes also serves as the CFO for Canadian Phoenix Resources Corp. and the VP Finance for Ionic Management Corp. Previously, he was the Manager of Financial Reporting for Sprott Resource Lending Corp. as well as Quest Capital Corp. and was a Manager for PricewaterhouseCoopers in Dublin, Ireland and Vancouver. He is a member of the Institute of Chartered Accountants of British Columbia and holds a Bachelor of Commerce degree from the University of Victoria.

Sandra Lee - Corporate Secretary

Sandra Lee is a certified legal assistant, and has served as Corporate Secretary of Quest Capital Corp. since July 2003. Ms. Lee has been working with various merchant banks as Corporate Secretary since 1996 including Quest Investment Corporation, Quest Management Corp., and Quest Ventures Ltd. Previously, she was Assistant Corporate Secretary and Secretary of Quest Oil & Gas Inc.

Mark Baggio - Advisor, External Markets

As the founder of Cansource Marketing, Mark has provided global strategic advice and marketing services to natural resource companies, including B.C.-based lumber corporations and a major Canadian fishery. In the last four years, he has worked extensively in the rare and critical resource space, developing and implementing global market and financing programs for Canadian mining companies particularly with respect to the Asian financial community. He was also a member of the OECD committee that developed the new international due diligence guidelines, as well as contributor to the Electric Industry Citizenship Coalition (EICC) committee dealing with ethical sourcing of materials.

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