VRB:CC - Production has Commenced from Vanadiumcorp's First Electrolyte Plant

(TheNewswire)

Vancouver, British Columbia – TheNewswire - April 24, 2024 – VanadiumCorp ResourceInc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp"or the "Company) announces production hascommenced from VanadiumCorp Plant No. 1, after four weeks of process optimization and commissioning. With theinitial production of electrolytes, VanadiumCorp is on track toproduce up to 350,000 litres annually, sufficient to store some 6.8MWh of electrical energy in VFB installations annually.

Production is a key milestone for the Company. PlantNo. 1 will provide electrolytes to develop our initial customer base.VanadiumCorp will enter midstream into the Vanadium Flow Battery (VFB)supply chain to produce vanadium electrolytes for Original EquipmentManufacturers (OEMs). The Company welcomes inquiries from those VFBOEMs seeking a reliable, Made-in-Canada source of high-purity vanadiumelectrolytes.

The Company’s Plant No. 1 is located in Val-des-Sources, Québec, atthe Carrefour d’Innovation sur les Matériaux de la MRC des Sources(CIMMS). The Company's website ( www.vanadiumcorp.com ) displays photographs of the completed plant.

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

"Our team in Québec is to becommended on achieving production 12 months after the project decisionwas made. Collaboration with C-Tech Innovation Ltd. has resulted in anoptimum production plant. Now, the Company can focus on marketing andour future expansion of electrolyte production in Québec. Meanwhile,our field crews are poised to mobilize to the Lac Doré project tocontinue with fieldwork aimed at the mining and metallurgy of theexceptional V-Ti-Fe deposit."

About VanadiumCorp ResourceInc.

A remarkable transformation of the global energylandscape is underway as we shift toward renewable energy sources.Solar and wind energy sources are forecasted to dominate powergeneration. Yet, vast amounts of long-duration energy storage (LDES)are vital to time-shift and stabilize these variable energy sources.The Vanadium Flow Battery is the most mature of the LDES batterytechnologies. According to MIT (2022), the flow battery"technology platform can incorporate a wide array of chemistries,among which the most developed at present is the VFB, which is uniquefor its ability to perform indefinitely with inexpensive operationalmaintenance."

The Company's initial manufacturing facility is inVal-des-Sources, Québec. To assure stable, long-term access tovanadium feedstocks for electrolyte manufacturing, the Company isdeveloping novel hydrometallurgical processes to extract vanadium fromthe titanomagnetite deposits at its wholly owned Lac Doré propertynear 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:

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.

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