Westwater Resources Announces Year-end 2020 Results and Business Update

Westwater Resources, Inc. (Nasdaq: WWR), an explorer and developer of U.S.-based mineral resources essential for batteries for energy storage, today announced its results for the year ended December 31, 2020.

“2020 was an immensely successful year for us. We sold our uranium assets and commenced graphite production with our Pilot Program, and as a result, we are now focused on processing battery-grade graphite products for an energy-dependent world,” said Chris Jones, CEO of Westwater Resources. “This major step into the energy storage economy, which aligns with electrification and decarbonization transitions around the world, is critical to our success and has the potential to provide remarkable new value to our Shareholders. The Westwater team is experienced and has the strengths needed to execute a business plan that manufactures battery graphite products, while keeping our promise to be environmentally sensitive and sustainable. Westwater expects to be producing commercial quantities of battery-grade graphite in 2023.”

BUSINESS UPDATE

Graphite

Graphite has become essential to people – it is used in products that touch almost every aspect of life, including airplanes, cars, flashlights, laptops, smartphones, and smoke detectors. The battery-grade graphite market has been growing with no signs of slowing. Westwater is now positioned to benefit from this growth with its battery-grade graphite. The United States has no domestically sourced and processed graphite production, and Westwater can provide a domestic battery-grade source of this important material. The Company has developed a patent-pending proprietary process for the purification of graphite; this process is anticipated to be environmentally safe and cost-efficient, giving Westwater a distinct advantage over its competitors. A definitive feasibility study is expected to be completed in mid-2021 for our commercial processing plant, which is planned for startup in late 2022.

Vanadium

Vanadium is a lightweight metal used in the construction industry, in high strength steel alloys and in large grid storage batteries. Vanadium batteries are also used in solar and wind power generators to make their installations more reliable electricity providers. Currently 85 percent of all vanadium is imported into the United States from South Africa, China and Russia. There is no significant production of vanadium currently in the United States. Over the last several years, Westwater has discussed and updated the marketplace with regard to its vanadium mineralization. During the first half of 2021, the Company anticipates drilling various targets on its Coosa property to expand its knowledge of the project’s geology, examine the core and/or cutting results for mineral constituents and evaluate its economic potential.