Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech" or the "Company") is pleased to announce that, through the Company's wholly owned subsidiary, U.S. Fluorspar LLC ("USF"), CleanTech has acquired the 7,825-acre Quarant fluorspar project ("Quarant Project") by ways of assuming an existing Quarant mineral lease agreement (the "Quarant Lease") dated November 16, 2022.
CleanTech entered into a lease assignment agreement (the "Lease Assignment") on September 30, 2025 with an arm's-length private party (the "Assignor") to take over the Quarant Lease, which includes a 2.5% royalty payment by CleanTech (lessee and project operator) to an arms-length lessor, based on the sales of zinc and fluorspar products originating from the Quarant Project.
The Quarant Project (7,825 acres) nearly doubles CleanTech's current mineral rights land holding to 15,975 acres in the Illinois-Kentucky Fluorspar District (the "IKFD"). This transaction establishes CleanTech as a major fluorspar mining company in the US, measured by land mass, historic fluorspar mineral resources supported by over 745 drill holes, and mineral exploration potential for fluorspar, silver, zinc, germanium, gallium, and rare earth elements.
The Quarant Project occupies a strategic position along the Rock Creek fault system in western part of IKFD in Livingston County, Kentucky. The Quarant Project benefits from historic exploration and mining activities by Alcoa, Reynolds Metals Company, and Cerro Corporation[1],[2]. The acquisition is highly synergistic as the Quarant Project surrounds CleanTech's flagship Campbell-Crotser fluorspar-silver-zinc project (250 acres). A historic mineral resource estimate performed by Boyce Moodie III in 1974 for Cerro Spar Corporation on the Campbell Crotser Fluorspar Project following its 62-hole drill program, reported 805,841 tons grading 37.10% CaF2, 3.23% Zn, and 0.99% Pb. The key assumptions, parameters, and methods used to prepare this historical resource estimate are not available. The Company has not reviewed or validated the historic data, and caution should be taken as a qualified person has not done sufficient work to classify these historical resource estimates as a current mineral resource and the Company is not treating them as a current mineral resource.
The Quarant Project extends the currently known Campbell Crotser 2,000-feet (600 meter) mineral strike to the south by further 3,300 feet (1 kilometer), at depths ranging from 300- 800 feet below surface based on geological mapping and structural interpretation [3],[4], covering the entire Campbell- Quarant-Morton fault system. See the section entitled "Campbell Crotser Historic Resource - Key Assumptions and Parameters" below.
The IKFD produced 90% of America's fluorspar between 1915 and 1995, when China flooded the international fluorspar market. China has become a net importer of fluorspar since 2022 and fluorspar price in China increased over 40% from US$350 - US$375 per ton in October, 2022[5] to over US$500 - US$534 per ton in October, 2025[6] [7]. Fluorspar a critical mineral that is essential in uranium enrichment, lithium and sodium battery electrolytes, production of semiconductor wafers and steel and aluminum. US currently has no known fluorspar production and relied entirely on China (5.9 million tons per year production), Mexico (1.2 million tons per year production), Vietnam (120,000 tons per year production) and South Africa (380,000 tons per year production) for its 440,000 tons annual Fluorspar supply in 2024. China, Mongolia, and Mexico accounted for over 85% of the global Fluorspar supply of 9.5 million tons per year in 2024[8].
Under the Lease Assignment, CleanTech has agreed to pay the Assignor a total of US$210,000 in consideration for the transfer of its interest in the Quarant Lease, payable as follows:
- US$60,000 upon execution (paid);
- US$50,000 on or before 12 months following execution;
- US$50,000 on or before 24 months following execution;
- US$50,000 on or before 36 months following execution.
Kentucky Carrsville corridor, a continuation of the prolific Illinois Rosiclare sub-district
Both Quarrant and Campbell Crotser projects are situated within the highly prospective Carrsville corridor which extends approximately 5.5 km from Ohio river to the town of Joy in Kentucky. Over 375,000 tons of crude fluorspar were historically produced from multiple mining operations within Carrsvile corridor including the Ellis mine (to the depth of 400 feet) located 1km east of Campbell Crotser, and Quarant's Shouse-Skelton (also known as "Joy") mine located 2 km southeast of Campbell Crotser. More recent exploration at the Quarant Project by Kuttawa Mineral Company in and around Shouse-Skelton mine in 2000 and 2001 included 15 core holes totaling 10,240 feet. A notable intersection in drill hole HJ 5 returned 17.4% zinc over 21 feet within a 42-foot sulfide rich zone located at the top of the Renault Formation. The drill results indicate the continuity of mineralization along the Buck Creek trend connecting Ellis (north) and Shouse-Skelton (south) through the Quarant Project area[9],[10],[11],[12],[13]. Refer to map at cleantechctv.com website for details.
Moreover, the Carrsville corridor lies within the southern contiguous extension of the large Rosiclare fault system (known locally as Rock Creek fault system in Kentucky) which hosts the Rosiclare fluorspar sub-district in Illinois, just north of the Ohio River. The Rosiclare sub-district is one of the most well-known districts accounting for significant IKFD historic production. The three highest producing mines in Rosiclare (Daisy, Hillside, and Knight), right across the Ohio river from Campell Crotser collectively produced over 1 million tons of raw fluorspar in Illinois during the early to mid-twentieth century[14].
The IKFD district's Mississippian carbonate-hosted structural environment, comprising dense limestone formations and systematic normal faulting, created optimal conditions for fluorspar deposition[15]. The Meramecian St. Louis and Ste. Genevieve formations provide structural competency and chemical reactivity; the Chesterian Renault Formation offers favorable replacement horizons, with the Bethel Sandstone providing structural control[16],[17],[18].
Temperature-pressure conditions during mineralization, estimated at 75 - 130°C based on fluid inclusion studies, are consistent with extensive deposition within carbonate hosts rocks[19]. The abundance of apatite and micas in associated dikes suggests a genetic link between igneous activity and fluorine-bearing solutions[20].
Campbell Crotser Historic Resource - Key Assumptions and Parameters
The key assumptions, parameters, and methods used to prepare the Campbell-Crotser historic resource estimate are not available. The Company has not reviewed or validated the historic data, and caution should be taken as a qualified person has not conducted sufficient work to classify these historical resource estimates as a current mineral resource and the Company is not treating them as a current mineral resource. The historic resource does not demonstrate economic viability and should not be relied on. The Company considers the historical estimate relevant as it indicates significant Fluorspar mineralization within the project area; however, the reliability is uncertain given the age of the data, and differences between historical estimation methods and current Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards. The historical resource categories were defined prior to the adoption of current CIM Definition Standards and differ materially from current categories such as 'Inferred Mineral Resource.' The historical estimates do not meet current CIM requirements for mineral resource classification due to: insufficient verification, lack of documented estimation methodology, and absence of QA/QC protocols. Steps to verify and upgrade the historical estimates to current CIM standards include (i) compilation and validation of all historical drill data, (ii) twin drilling of select historical holes, (iii) confirmatory drilling in key areas of mineralization, (iv) updated geological modeling, and (v) preparation of a new mineral resource estimate in accordance with NI 43-101.
Qualified Person
The technical contents of this news release have been prepared under the supervision of Carlos Zamora, a member of the American Institute of Professional Geologists (AIPG) and a Certified Professional Geologist (CPG) since 2024. Mr. Zamora is an independent qualified person as defined by National Instrument 43-101.
About CleanTech Vanadium Mining Corp.
CleanTech is a mining company focused on critical mineral resources in the USA. The Company has an option to acquire 15,975 acres of mineral rights with historic Fluorspar resources across multiple projects in the Illinois-Kentucky Fluorspar District. CleanTech also owns a 100% interest in the Gibellini Vanadium Mine Project in Nevada.
Further information on CleanTech can be found at www.cleantechctv.com.
ON BEHALF OF THE BOARD
"John Lee"
CEO and Director
For more information about CleanTech, please contact:
Phone: 1.877.664.2535
jlee@cleantechctv.com
www.cleantechctv.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Such forward-looking information, which reflects management's expectations regarding CleanTech's future growth, results of operations, performance, business prospects and opportunities, is based on certain factors and assumptions and involves known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking information. Forward-looking information in this news releases includes but is not limited to closing the Lease Assignment Agreement and all information relating to the potential development of the Quarant area or any other area referenced above.
Forward-looking statements are based on the opinions and estimates of management of CleanTech at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of CleanTech, there is no assurance they will prove to be correct and are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Forward-looking information involves significant risks and uncertainties, should not be read as a guarantee of future performance, events or results, and may not be indicative of whether such events or results will actually be achieved. A number of risks and other factors could cause actual results to differ materially from expected results discussed in the forward-looking information, including but not limited to: changes in operating plans; ability to secure sufficient financing to advance the Company's project; conditions impacting the Company's ability to mine at the project, such as unfavorable weather conditions, development of a mine plan, maintaining existing permits and receiving any new permits required for the project, and other conditions impacting mining generally; maintaining cordial business relations with strategic partners and contractual counter-parties; meeting regulatory requirements and changes thereto; risks inherent to mineral resource estimation, including uncertainty as to whether mineral resources will be further developed into mineral reserves; political risk in the jurisdictions where the Company's projects are located; commodity price variation; and general market, industry and economic conditions. Additional risk factors are set out in the Company's latest annual and interim management's discussion and analysis and annual information form (AIF), available on SEDAR+ at www.sedarplus.ca.
Forward-looking information is based on reasonable assumptions by management as of the date of this news release, and there can be no assurance that actual results will be consistent with any forward-looking information included herein. Readers are cautioned that all forward-looking statements in this news release are made as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking information in this news release to reflect circumstances or events that occur after the date of this news release, except as required by applicable securities laws.
[1] Fulkerson, D.H., 1977. Summary report on the fluorspar potential of Reynolds Metals Company's properties in the N.E. Klondike-Wright area, Livingston County, Kentucky. Internal Report, 38 p.
[2] Smith, F.J., 1982. Report on Frontier Spar Corporation. Marathon Resources Internal Report 562001, 156 p.
[3] Smith, F.J., 1982. Report on Frontier Spar Corporation. Marathon Resources Internal Report 562001, 156 p.
[4] Pinckney, D.M., 1976. Mineral resources of the Illinois-Kentucky mining district. U.S. Geological Survey Professional Paper 970, 49 p.
[5] https://www.chemall.com.cn/news/show-114157.html?utm_source=chatgpt.com
[6] https://www.sunsirs.com/uk/prodetail-231.html
[7] https://www.chemall.com.cn/news/show-228426.html
[8] https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-fluorspar.pdf
[9] Graham, F., 2001. Kentucky-Illinois zinc project: Report of activities in 2000. Kuttawa Mineral Company Report 614024, 140 p.
[10] Pinckney, D.M., 1976. Mineral resources of the Illinois-Kentucky mining district. U.S. Geological Survey Professional Paper 970, 49 p.
[11] Smith, F.J., 1982. Report on Frontier Spar Corporation. Marathon Resources Internal Report 562001, 156 p.
[12] Graham, F., 2001. Kentucky-Illinois zinc project: Report of activities in 2000. Kuttawa Mineral Company Report 614024, 140 p.
[13] Thurston, W.R., and Hardin, G.C., Jr., 1954. Fluorspar deposits in western Kentucky, Part 3 Moore Hill fault system, Crittenden and Livingston Counties. U.S. Geological Survey Bulletin 1012 E, 67 p.
[14] Denny, F.B., W.J. Nelson, J.R. Breeden, and R.C. Lillie, 2020, Mines in the Illinois portion of the Illinois-Kentucky Fluorspar District: Illinois State Geological Survey, Circular 604, 73 p. and map.
[15] Trace, R.D., and Amos, D.H., 1984. Stratigraphy and structure of the western Kentucky fluorspar district. U.S. Geological Survey Professional Paper 1151 D, 41 p
[16] Currier, L.W., 1923. Fluorspar deposits of Kentucky. Kentucky Geological Survey, Series 6, Volume 13, 198 p.
[17] Pinckney, D.M., 1976. Mineral resources of the Illinois-Kentucky mining district. U.S. Geological Survey Professional Paper 970, 49 p.
[18] Thurston, W.R., and Hardin, G.C., Jr., 1954. Fluorspar deposits in western Kentucky, Part 3 Moore Hill fault system, Crittenden and Livingston Counties. U.S. Geological Survey Bulletin 1012 E, 67 p.
[19] Cunningham, C.G., and Heyl, A.V., Jr., 1980. Multistage galena and associated ore mineral textures. U.S. Geological Survey Professional Paper 1128, 21 p.
[20] Bain, H.F., 1905. Fluorspar deposits of southern Illinois. U.S. Geological Survey Bulletin 255, 75 p.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269631
SOURCE: CleanTech Vanadium Mining Corp.
