VanadiumCorp Resource Files for Final Approval, Closes Private Placement Financing

Pursuant to the Financing, the Company has issued a total of 5,291,666 $0.12 units in two (2) tranches, for aggregate gross proceeds of $635,000. Each unit consists of one common share of the Company and one common share purchase warrant, with each warrant being exercisable at a price of $0.22 per share for a period of two years from the date of issue, subject to the right of the Company to accelerate the exercise period to 30 days if, after the expiry of the 4-month hold, shares of the Company close at or above $0.50 for 10 consecutive trading days.

The Financing remains subject to final acceptance by the TSX Venture Exchange. All securities issued pursuant to the Financing will be subject to a statutory four?month hold period from the date of issuance, in accordance with applicable securities laws. Proceeds from the Financing are intended to be used for working capital and general corporate purposes.

Two investors became Insiders of the Company as a result of their participation in the Financing. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61?101 - Protection of Minority Security Holders in Special Transactions ("MI 61?101"). The Company expects that such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61?101 pursuant to applicable exemptions thereunder, including the exemption for transactions not exceeding 25% of the Company's market capitalization.

About VanadiumCorp Resource Inc.

VanadiumCorp is a Canadian critical metals exploration company that holds a 100% interest in two mineral properties in Québec: the Iron?T Project and its flagship Lac Doré Project. In addition to advancing its mineral assets, the Company is developing its proprietary VanadiumCorp Electrochem Process Technology (VEPT), which is intended to extract vanadium, titanium, and potentially iron from vanadiferous titanomagnetite resources.

The Company's strategy combines resource development with technology innovation aimed at supporting the supply of vanadium for applications such as vanadium flow battery electrolyte used in large?scale energy storage systems.

On behalf of the Board of VanadiumCorp Resource Inc.

Kristien Davenport

President, CEO & Director

Tel: 778?719?4366

Email: info@vanadiumcorp.com

Website: www.vanadiumcorp.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.

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Forward?Looking Statements

This press release contains forward?looking statements and forward?looking information within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward?looking statements include, but are not limited to, statements relating to the completion of the Financing, the receipt of regulatory approvals, the intended use of proceeds, and the Company's future business plans.

Forward?looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements, including regulatory risks, market conditions, financing risks, and exploration uncertainties, as well as those risks disclosed in the Company's public disclosure documents available on SEDAR+. The Company does not undertake to update any forward?looking statements except as required by applicable securities laws.

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