Australian Vanadium Ltd’s (AVL) mission is to increase shareholder wealth through capital growth and dividends, by the discovery of economic mineral deposits and the development of profitable mining operations. The Company’s initial objective is to explore and further evaluate its existing mining tenements focusing on the Australian Vanadium Project deposit in Western Australia. AVL may also evaluate other prospective mining projects that would have the potential to contribute to future growth. AVL is focused on the following current short to medium term objectives:

• Complete a Definitive Feasibility Study with confident economic parameters.
• Undertake comprehensive metallurgical test programs to identify definitive processing scenarios.
• Ongoing drilling to improve and increase the Resource at the Australian Vanadium Project, including the generation of updated Mineral Resource estimates.
• Increase geological definition of the resources including understanding of the oxide, transitional and fresh zones at the Australian Vanadium Project.
• Develop key investor and strategic customer relationships to enable the project to be delivered on time and on budget.