VRB:CC - Vanadiumcorp Amends Non-Brokered Private Placement Financing

(TheNewswire)

Vancouver, British Columbia – TheNewswire -- January 4, 2024 – VanadiumCorp ResourceInc. (TSX-V:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") announces that, further to itsDecember 18, 2023 news release, it has filed documents with the TSXVenture Exchange ("TSXV") amending its non-brokered privateplacement financing (the "Financing").

On receipt of final approval from the TSXV, the Companywill issue an additional 700,000 $0.10 flow-through units (the"FT Units") for total aggregate proceeds, including the1,725,000 $0.08 non-flow-through units and 1,448,000 $0.10flow-through units previously announced, of $352,800

Subject to TSXV approval, cash finders' fees in theamount of $17,440 will be paid, and 48,000 broker warrants,exercisable at $0.12 for 2 years, and 120,000 broker warrants,exercisable at $0.14 for 2 years, will be issued.

The Financing included one (1) insider, subscribing for$64,800 or 648,000 FT Units, and that portion of the Financing is a"related party transaction" as such term is defined under MI61-101 – Protection of Minority Security Holders in SpecialTransactions.  The Company is relying on exemptions from the formalvaluation requirement of MI-61-101 under sections 5.5(a) and (b) of MI61-101 in respect of the transaction as the fair market value of thetransaction, insofar as it involves the interested party, is not morethan 25% of the Company's market capitalization.

All securities issued pursuant to the Financing aresubject to a four-month hold from the date of issue.

Net proceeds from the Financing will be used forexploration and metallurgical testing on the Company's wholly-ownedmineral properties and general corporate purposes.

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. seeks to produce a reliablestream of high-quality vanadium electrolytes for the expandinginternational market for long-duration Vanadium Redox Flow Batteries(VRFB). The Company's initial manufacturing facility is based inVal-des-Sources, Québec. Stable, long-term access to vanadiumfeedstock for the production of electrolytes is assured,success-contingent on developing our wholly-ownedvanadium-titanium-iron mineral deposits, including our flagship LacDoré deposit near Chibougamau, Québec. The Company's electrolyteplant will also be used to test the quality of future Lac Doré pilotplant outputs and to reprocess electrolytes.

On behalf VanadiumCorp ResourceInc.

Paul McGuigan, P. Geo.
CEO
pjm@vanadiumcorp.com

Company contact information:

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