VRB:CC - VanadiumCorp Announces a Change to its Board of Directors

(TheNewswire)

Vancouver, British Columbia – TheNewswire - November 1, 2023 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company")

The Company wishes to announce the resignation of IanMallory as a Director and Chairman of the Board.  The Company thanksMr. Mallory for his contribution and wishes him well in his futureendeavours.

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:

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.

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 or implied by such forward-lookingstatements, including, without limitation, whether such discoverieswill result in commercially viable quantities of such mineralizedmaterials, the ability to modify project parameters as plans continueto be refined, the ability to execute planned future exploration anddrilling programs, the need for additional financing to continueexploration and development efforts, changes in general economic,market and business conditions, and other risks outlined inVanadiumCorp's latest Annual Information Form under the heading"Risk Factors" and in its other public documents.Forward-looking statements are not guarantees of future performanceand such information is inherently subject to known and unknown risks,uncertainties and other factors that are difficult to predict and thatmay be beyond VanadiumCorp's control. Although VanadiumCorp hasattempted to identify important risks and factors that could causeactual actions, events or results to differ materially from thosedescribed in the forward-looking statements, there may be otherfactors and risks that cause actions, events or results not to be asanticipated, estimated or intended. Accordingly, undue reliance shouldnot be placed on these forward-looking statements. In addition, allforward-looking statements in this press release are made as of thedate of this press release. VanadiumCorp disclaims any intention orobligation to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise, except asrequired by applicable securities laws.

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

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