VRB:CC - Vanadiumcorp Appoints a New Independent Director

(TheNewswire)

NOT FOR DISSEMINATION IN THE UNITEDSTATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRESERVICES.

Vancouver, British Columbia – TheNewswire - January 17, 2024 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") is pleased to announcethat Mr. Mario Drolet, B.A. (1986) has joined the Board of Directorsof the Company effective today.

Mr. Drolet joins VanadiumCorp with a 30-year history offinance, derivatives trading, and corporate communications. Mr. Droletis well known in the Québec financial and university communities. Hehas served as an advisor to all mining industry sectors, includingvanadium and iron ore companies.

In the last year, we sought to recruit Québec-baseddirectors, board advisors, officers, and technical personnel. OnOctober 23, the Company added the Honorable Christian Paradis,previously the Federal Minister of Mines and Energy, to the Board ofDirectors as an independent director. With Mr. Drolet, we now have twoindependent Québec directors able to guide VanadiumCorp in itsrelationships with government, community, and investorstakeholders.

Paul McGuigan, CEO of the Company, stated: "We aredelighted to have Mario join the VanadiumCorp team. His impressiveleadership background in finance and corporate communications will beinvaluable to the Board as the Company seeks to realize our strategyof commencing production of vanadium electrolytes in Val-des-Sources,Québec in Q1 2024 and advancing on our strategic vanadium, titanium,and iron mineral resource at Lac Doré, Québec."

Mario Drolet stated, "I am honored to joinVanadiumCorp's Board of Directors and excited to contribute to theCompany's strategic vision and growth. I look forward to collaboratingwith the talented team in achieving shared success."

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. seeks to produce a reliablestream of high-quality vanadium electrolytes for the expandinginternational market for long-duration Vanadium Flow Batteries (VFB).The Company's initial manufacturing facility is based inVal-des-Sources, Québec. Stable, long-term access to vanadiumfeedstock to produce 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 totest the quality of Lac Doré pilot plant outputs and to reprocesselectrolytes. We are currently conducting an engineering scoping studyto expand 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

Company contact information:

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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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