Vancouver, British Columbia, February 22, 2022 – Nevada Vanadium Mining Corp. (the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) of up to 10,000,000 units of the Company (“Units”) at a price per Unit of $0.40 for aggregate gross proceeds of up to $4,000,000.

Each Unit will consist of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one additional Share at a price of $0.50 at any time on or before the 36-month anniversary of the date of issuance of the Warrants. Currently there are 50,000,000 Shares issued and outstanding.

It is anticipated that John Lee, Executive Chairman, will subscribe for up to 1,500,000 Units (being 15% of the Offering) for aggregate gross proceeds of up to $600,000. The issuances of Units to insiders pursuant to the Offering will be considered related party transactions within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Offering by insiders will not exceed 25% of the fair market value of the Company’s market capitalization.  The Company expects to file a material change report in respect of the related party transactions in connection with the Offering.

The Company has engaged Canaccord Genuity Corp. to act as its financial advisor for the offering and may compensate persons who act as finders in connection with the Offering.

The Offering proceeds are expected to be used for the Company’s mineral project development, application for stock exchange listing, and for general working capital purposes.

The Company may increase or decrease the size of the Offering in its sole discretion. All securities issued in connection with the Offering will be subject to a hold period of four months.

Closing of the Offering is expected to occur on or about March 4, 2022.  All dollar amounts referred to in this news release are in Canadian funds.

About Nevada Vanadium Mining Corp.

Nevada Vanadium Mining Corp. is a Canadian reporting issuer, holding a 100% interest in the Gibellini vanadium project in Nevada.  The Company is a spin-out from Silver Elephant Mining Corp. (TSX: ELEF).  Silver Elephant owns 39% of Battery Metals Royalties Corp., which owns 45% of Nevada Vanadium, resulting in Silver Elephant indirectly owning 17% of Nevada Vanadium.

Further information on the Company can be found at www.nevadavanadium.com.