Nevada Vanadium Passes Key Milestone With Notice Of Intent To Prepare EIS Published For Gibellini Vanadium Project

Nevada Vanadium, LLC. (“Nevada Vanadium” or the “Company”) is pleased to announce that its Gibellini Project passed an important milestone yesterday as its Notice of Intent (“NOI”) to prepare an Environmental Impact Statement (“EIS”) was published in the Federal Register. If approved, Gibellini would become the first U.S. primary vanadium mine.

The Gibellini Project, located in Eureka County, Nevada, USA, is 100% owned by Nevada Vanadium. Nevada Vanadium is a Nevada corporation and a wholly owned subsidiary of Silver Elephant Mining Corp.

The Gibellini Project has been designed as a potential model of sustainability in the extraction and processing of critical minerals required for a low-carbon economy and greater renewable energy deployment. Vanadium is an important component in lightweight steel and has the potential to increase the life and reduce the cost of batteries when used in utility-scale wind and solar projects.

“The publication of the Notice of Intent is a major milestone for the Gibellini Project, which will produce nearly 10 million pounds of vanadium annually if approved,” said Ron Espell, Nevada Vanadium’s Vice President for Environment and Sustainability. “That represents greater than 50 percent of U.S. demand which is now entirely met by imports from foreign nations. Nevada Vanadium wants to ensure U.S. production of this strategic and critical mineral is domestic and secure.”

The U.S. government has designated vanadium a critical mineral of strategic importance to the nation. Its many applications as an alloy and catalyst span the aerospace, defense, energy, and infrastructure sectors.

“We look forward to working with all stakeholders to bring to life a project that will benefit them while becoming a model for environmental protection and safe operations,” Espell said. “We would like to thank the U.S. Bureau of Land Management’s Battle Mountain District Office and all of the contractors that have helped us bring the project to this point, and we are looking forward to a final approval that will help diversify Eureka County’s economy, create skilled labor demand and contribute to the security of our nation.”

The project is expected to create 120 jobs during the proposed 18-month construction and commissioning period, and approximately 100 full-time jobs are anticipated during regular operations. The Gibellini Project will add vanadium to Eureka County’s mining output, that has generally been limited to gold and silver, which are subject to cyclical precious metal price swings.

In his statement regarding Gibellini, U.S. Bureau of Land Management (BLM) Battle Mountain District Manager Doug Furtado said that, “If approved, this project would provide hundreds of jobs and will contribute to the nation’s domestic source of critical minerals.” Furtado went on to say that “The Gibellini mine would also be the first vanadium mine in the U.S. and, in accordance with Secretarial Order 3355, we anticipate having a record of decision in 12 months.”

The publication of the NOI follows the final Mine Plan of Operations (MPO), Project Enhanced Baseline Reports (EBRs) and Pre-Planning Supplemental Environmental Reports that were accepted by BLM prior to the start of the NEPA analysis.

The MPO includes the construction, operation and closure of the Project, which is an open pit mining operation and heap leach process facility to extract and recover 132 million pounds of vanadium over its lifetime. The engineering design took into account baseline reporting that started in 2010 and includes state-of-the-art environmental control systems that help avoid or minimize potential environmental impacts while exceeding regulatory requirements.

Nevada Vanadium’s engagement with local, state, and federal government regulatory agencies and local stakeholders is planned to continue over the next year in anticipation of the ROD being issued by the second quarter of 2021.

Nevada Vanadium, as a wholly owned subsidiary of Silver Elephant Mining Corp (OTCQX: SILEF, TSX: ELEF), is developing the Gibellini project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America.

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