Australian Vanadium Limited has signed an option agreement with Mining Green Metals Limited for M Mining Green Metals to acquire a 100% interest in the Coates Project and Nowthanna Hill Project tenements, application and associated mining information. Australian Vanadium Managing Director Mr Vincent Algar said “With AVL’s primary focus being the development of the Australian Vanadium Project at Gabanintha, the option agreement offers AVL shareholders continued exposure to exploration success at the Coates and Nowthanna Hill projects in a focused exploration company. AVL will retain an interest in the projects and be able to benefit from the suite of potential minerals at Coates which are currently in high and growing demand and the future potential from the Nowthanna Hill Project. ”KEY POINTSOption agreement signed with Mining Green Metals Limited to acquire a 100% interest in Coates and Nowthanna Hill projectsMining Green Metals is aiming to list on the Australian Securities Exchange in 2022Coates Project near Wundowie 80km NE of Perth in WA holds exploration potential for nickel, base metals, gold and platinum group elementsThe Coates Project covers similar mafic-ultramafic rocks sequences that host the Chalice Gold Mines’ nickel-copper-PGE Julimar project (ASX: CHN) 29 km NNW of CoatesThe Nowthanna Hill uranium project has a granted mining licence and Mineral Resource EstimateThe Nowthanna Hill project site is located south and southeast of the Company’s Australian Vanadium Project and is contiguous with the Toro Energy Limited Nowthanna Uranium DepositAVL is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain - from resource through to steel and energy storage opportunities. AVL is advancing the development of its world-class Australian Vanadium Project at Gabanintha. VSUN Energy is AVL’s 100% owned subsidiary which is focused on developing the market for vanadium redox flow batteries for energy storage. The companies are also working together to produce and supply vanadium electrolyte for the batteries.