VRBFF - Australian Grant of Patent Issued for Vanadiumcorp's Metallurgical Process

(TheNewswire)

NOT FOR DISSEMINATION IN THE UNITEDSTATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRESERVICES.

Vancouver, British Columbia – TheNewswire - February 28, 2024 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") is a Canadian criticalmetals company supporting the supply chain of a new generation oflong-duration Vanadium Flow Batteries (VFBs) and targeting thedecarbonization of electrical grids. To support our ambitions inelectrolyte manufacturing, the Company is developing novelhydrometallurgical processes to extract vanadium from thetitanomagnetite deposits at its wholly owned Lac Doré property nearChibougamau, Québec.

Vanadiumcorp is pleased to announcethe Australian Government issued the Grant of a Patent (Patent number:2018225820) for the hydrometallurgical processes for recoveringvanadium and iron values from vanadiferous titanomagnetite andvanadiferous feedstocks. The patent is for theVanadiumcorp-Electrochem Process Technology ("VEPT"),invented by the prominent electrochemist Dr. Francois Cardarelli andnow 100% owned by Vanadiumcorp. The term of the patent runs for twentyyears from February 21, 2018. VEPT is now patented in the U.S.A.,South Africa, and Australia. Patent applications are pending in India,Europe, and Canada. Additionally, VanadiumCorp has filed aContinuation Patent in the U.S.A. that contains broader claims. Allthe granted patents and pending applications are current and fully upto date.

Paul McGuigan, P. Geo., CEO of the Company, stated:

"We are pleased to be granted apatent for our VEPT process in Australia, which has rich vanadiummineral resources and robust mine development activity. With Australiain our patent-protected sphere, VanadiumCorp can protect itsdeveloping know-how in extracting vanadium from primary concentrates,fly ash and the slags from electric arc furnaces."

The VEPT process consists of digesting vanadiferoustitanomagnetite magnetite and other feedstocks into concentratedsulfuric acid to minimize energy consumption significantly compared toconventional pyrometallurgical processes for vanadium. After reducingthe pregnant solution electrochemically, the VEPT process recoversferrous sulfate heptahydrate ("Copperas"), titaniumhydrolysate and vanadyl sulfate. Vanadyl sulphate is a precursor forpreparing the vanadium electrolytes used in vanadium flow batteries(VFBs) or various vanadium chemicals used in lithium batteries.

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. seeks to produce a reliablestream of high-quality vanadium electrolytes for the expandinginternational market for long-duration Vanadium Flow Batteries (VFB).The Company's initial manufacturing facility is in Val-des-Sources,Québec. Stable, long-term access to vanadium feedstock to produceelectrolytes is assured, success-contingent on developing our whollyowned vanadium-titanium-iron mineral deposits, including our flagshipLac Doré deposit near Chibougamau, Québec.

The Company's electrolyte plant will also test thequality of the anticipated outputs from a Lac Doré pilot plant andreprocess electrolytes as needed. We are currently scoping theexpansion of production to 4 million litres of electrolytes peryear.

On behalf of the Board ofVanadiumCorp Resource Inc.:

Paul McGuigan, P.Geo.
Director, Chief Executive Officer
pjm@vanadiumcorp.com
Direct: +1.604.970.3278

Company Contact Information:

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NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S.PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESSRELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TOPURCHASE ANY SECURITIES DESCRIBED IN IT.

Forward-Looking Statements

This document may contain forward-looking statements(including "forward-looking information" within the meaningof applicable Canadian securities laws and "forward-lookingstatements" within the meaning of the US Private SecuritiesLitigation Reform Act of 1995) regarding, among other things,VanadiumCorp's business. and the environment in which it operates. Ingeneral, forward-looking statements can be identified by the use ofwords such as "anticipates", "expects" or"does not expect", "is expected","budget", "forecast", "estimates","forecasts", "intends", "anticipates" or"does not anticipate", or "believes", orvariations of such words and phrases or statements that certainactions, events or results "may", "could","would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorprelies on a number of assumptions and estimates to make theseforward-looking statements, including, without limitation, the abilityto acquire the necessary permits and authorizations to advance the LacDoré property to the production stage, the ability to add to existingresources at Lac Doré through drilling, the costs associated with thedevelopment and operation of its properties. These assumptions andestimates are made in light of forecasts and conditions that areconsidered relevant and reasonable based on available information andcurrent circumstances. A number of risk factors may cause actualresults, level of activity, performance or results of such explorationand/or mine development to differ materially from those expressed orimplied by such forward-looking statements, including, withoutlimitation, whether such discoveries will result in commerciallyviable quantities of such mineralized materials, the ability to modifyproject parameters as plans continue to be refined, the ability toexecute planned future exploration and drilling programs, the need foradditional financing to continue exploration and development efforts,changes in general economic, market and business conditions, and otherrisks outlined in VanadiumCorp's latest Annual Information Form underthe heading "Risk Factors" and in its other publicdocuments. Forward-looking statements are not guarantees of futureperformance and such information is inherently subject to known andunknown risks, uncertainties and other factors that are difficult topredict and that may be beyond VanadiumCorp's control. AlthoughVanadiumCorp has attempted to identify important risks and factorsthat could cause actual actions, events or results to differmaterially from those described in the forward-looking statements,there may be other factors and risks that cause actions, events orresults not to be as anticipated, estimated or intended. Accordingly,undue reliance should not be placed on these forward-lookingstatements. In addition, all forward-looking statements in this pressrelease are made as of the date of this press release. VanadiumCorpdisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by applicablesecurities laws.

The forward-looking statements contained herein areexpressly qualified by this disclaimer.

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