VRBFF - Vanadiumcorp Announces New Board of Directors and Management Team

(TheNewswire)

Vancouver, British Columbia – TheNewswire – July 4, 2024 – VanadiumCorp ResourceInc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp"or the "Company") is pleased toannounce that its shareholders at the Annual General and SpecialMeeting of Shareholders (“AGM”) held on July 2, 2024 have electeda new Board of Directors of the Company. Shareholders overwhelminglyvoted in favour of six candidates: Pierre Alarie, Gilles Dupuis, IanGraham, Ian Mallory, Christian Paradis, and Stephen Pearce.  Thesesix directors were endorsed by the Concerned Shareholder in theDissident Proxy Circular dated June 11, 2024 issued in respect of theAGM.

Following the AGM, the Board of Directors appointed thefollowing officers of the Company for the coming year:

• Chairman and CEO : Ian Mallory

• President : IanGraham

• Chief Operating Officer : Gilles Dupuis

• CEO, VanadiumCorp GmbH : Peter Besenovsky

• Corporate Secretary : Stephen Pearce

Ian Mallory, Chairman and CEO, stated: “The strongnew Board and management team at VanadiumCorp will significantlyenhance the execution of the Company’s initiatives in the productionand international sale of vanadium electrolyte and advancement of ourstrategic mineral resource at Lac Doré, Québec. I look forward toworking with this dynamic, professional team to produce value for bothour customers and shareholders.”

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. produces a stream ofhigh-quality vanadium electrolytes for the expanding internationalmarket for long-duration Vanadium Redox Flow Batteries (VRFB). TheCompany's initial manufacturing facility is based in Val-des-Sources,Québec. Stable, long-term access to vanadium feedstock for theproduction of electrolytes is assured, success-contingent ondeveloping our wholly-owned vanadium-titanium-iron mineral deposits,including our flagship Lac Doré deposit near Chibougamau, Québec.The Company's electrolyte plant will also be used to test the qualityof Lac Doré pilot plant outputs and to reprocess electrolytes.

On behalf of the Board ofVanadiumCorp Resource Inc.

Ian Mallory
Chairman and CEO
ianm@vanadiumcorp.com

Phone: +1.514.416.1749

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 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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