VRBFF - Vanadiumcorp Announces a Non-Brokered Private Placement Financing

(TheNewswire)

Vancouver, British Columbia – TheNewswire - May 29, 2024 – VanadiumCorp Resource Inc.(TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the"Company") announces a non-brokered private placementfinancing (the "Financing") for aggregate gross proceeds ofup to $600,000.

The Financing will consist of up to 15,000,000 $0.04 units(“Units”), each Unit consisting of 1 common share of the Companyand 1 common share purchase warrant (the “Warrants”), each Warrantbeing exercisable for an additional common share at $0.06 for five (5)years.

The Financing is subject to TSX Venture Exchange approval andsecurities issued pursuant to the Financing will be subject to afour-month and a day hold period. Finders’ fees may be paid inaccordance with TSX Venture Exchange policies.

The Company will use the net proceeds for general working capital andto advance the Company’s exploration and metallurgical testing onthe Lac Doré mineral deposit near Chibougamau, Québec.

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, Plant No. 1, isbased in Val-des-Sources, Québec. The Company has also completed itsengineering scoping of a 4 to 8 million litre per year electrolytemanufacturing facility (“Plant No. 2”) and is actively negotiatingfor the required funding and joint venture partnerships.

Stable, long-term access to vanadium feedstock toproduce electrolytes is assured, success-contingent on developing ourwholly owned flagship Lac Doré mineral deposit near Chibougamau,Québec . The Company's electrolyte plant willalso be used to test the quality of future Lac Doré pilot plantoutputs 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.

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