VRB:CC - Government of India Grant of Patent Issued for Vanadiumcorp's Metallurgical Process

(TheNewswire)

Vancouver, British Columbia – TheNewswire - March 7, 2024 – VanadiumCorp ResourceInc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp"or the "Company") is pleased toannounce the Government of India, Patent Office, issued the Grant ofPatent (Number: 517528) for the hydrometallurgical processes forrecovering vanadium and iron values from vanadiferous titanomagnetiteand vanadiferous feedstocks.

The patent is for the Vanadiumcorp-Electrochem ProcessTechnology ("VEPT"), invented by the prominentelectrochemist Dr. Francois Cardarelli and now 100% owned byVanadiumcorp. The term of the patent runs for twenty years fromFebruary 21, 2018. VEPT is now patented in the U.S.A., South Africa,Australia, and India. Patent applications are pending in the EU andCanada only. Additionally, VanadiumCorp has filed a ContinuationPatent in the U.S.A. that contains broader claims. All the grantedpatents and pending applications are current and fully up todate.

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

"We are pleased to be granted apatent for our VEPT process lately in Australia and now India.Australia is endowed with rich vanadium mineral resources and robustmine development activity. India has significant vanadiferousfeedstocks, such as refinery wastes and fly-ash. With these twoadditions to our patent-protected sphere, VanadiumCorp can protect itsdeveloping know-how in extracting vanadium from primary mineralconcentrates, fly ash and the slags from electric arcfurnaces."

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-ion andvanadium-ion batteries.

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. 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 seeks a long-term supply ofvanadium for electrolytes, success-contingent on developing our whollyowned Lac Doré deposit near Chibougamau, Québec.

The global energy landscape is undergoing a remarkabletransformation as we shift toward renewable energy sources. Solar andwind energy sources are forecasted to dominate power generation. Yet,a vast amount of long-duration energy storage (LDES) is vital totime-shift and stabilize these variable energy sources. The VanadiumFlow Battery is the most mature of the LDES technologies. VanadiumCorpseeks to produce a reliable stream of high-purity vanadiumelectrolytes for VFBs beginning with our initial manufacturingfacility in Val-des-Sources, Québec.

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:

Neither the TSX Venture Exchange nor its RegulationServices Provider (as defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.

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.

Copyright (c) 2024 TheNewswire - All rights reserved.