Page 1

ASX ANNOUNCEMENT Australian VANADIUM LIMITED 30 JULY 2021 QUARTERLY ACTIVITIES REPORT Period ending 30th June 2021 HIGHLIGHTS • • • • • AVL awarded $ 3.69M Australian Government manufacturing grant in competitive process for downstream vanadium processing , including : O High - purity vanadium pentoxide processing circuit Building and operating a commercial vanadium electrolyte plant in WA Manufacture of residential and stand - alone power systems in WA Exceptional 89 % vanadium extraction demonstrated in stage 1 pellet roast leach pilot testwork . 31.3 Mt Nickel - Copper - Cobalt Mineral Resource reported at the Australian Vanadium Project by Bryah Resources Limited ( ASX : BYH , AVL holds 5.11 % ) , paving way for base metal sulphide concentration circuit for critical e - mobility battery materials at the Project . Submission of vanadium processing patent application protecting unique processing flowsheet for AVL . Co - operative Research Centre Project delivers key project milestones to support Bankable Feasibility Study . EIS drilling grant funding awarded for Coates V - Ni - Cu - PGE - Au project SE of Chalice Mining's Julimar discovery . Corporate • Cash at bank on 30th June 2021 was $ 3.52 million . • On 30th July the Company received $ 1,622,806 as an initial payment for the MMI Grant . Management comment On 22nd July , AVL announced that it had received a grant from the Australian Government . The successful application was part of intensely competitive application process , with AVL being one of only 12 successful applications under the Resources Technology and Critical Minerals Processing National Manufacturing Priority . The grant has a very meaningful result and enables AVL to pursue opportunities in the rapidly growing Vanadium Redox Flow Battery ( VRFB ) long duration energy Australian Vanadium Limited Level 1 , 85 Havelock Street West Perth , WA 6005 Phone : +61 8 9321 5594 Fax : +61 8 6268 2699 ASX : AVL FRA : JT7.F Email : info@australianvanadium.com.au OTC : ATVVF ABN : 90 116 221 740