VRB:CC - Vanadiumcorp Appoints Christian Paradis to its Board of Directors

(TheNewswire)

Vancouver, British Columbia – TheNewswire - October 23, 2023 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") is pleased to announcethat the Honourable Christian Paradis, P.C.,LL.B., has joined the Board of Directors of the Company effectivetoday.

Mr Paradis has been a Member of the Quebec Barsince 1997. He was Member of the Parliament of Canada forMégantic-L’Érable, Québec from 2006 to 2015, and Minister between2008 and 2015 of Public Works and Government Services, NaturalResources, Industry and International Development and LaFrancophonie. During his years in public office,Mr Paradis led critical files in Canada and globally. After leaving office, hejoined GardaWorld for four years as Senior Vice President, StrategicDevelopment, Protective Services. He hiscurrently a senior advisor to, and member of boards of directors of,various companies in Canada.

Mr Paradis graduated from the University of Sherbrookein civil law and holds a graduate degree in corporate law fromUniversité Laval. He is member of the King’s Privy Council forCanada since 2007 and he is recipient of the Queen Elizabeth II’sDiamond Jubilee Medal (2012).

Ian Mallory, Executive Chairman of the Company, stated:“We are delighted to have Christian join the VanadiumCorp team. Hisimpressive leadership background in industrial, resource and communitydevelopment, and strong reputation as aresults-driven figure will be invaluable to theBoard as the Company seeks to realize on our strategy of commencingproduction of vanadium electrolyte in Val-des-Sources, Québec in Q12024 and advancing progress on our strategic mineral resource at LacDoré, Québec.”

Christian Paradis stated: “ I amthrilled to join the Board of Directors of VanadiumCorp. High-qualityvanadium electrolyte production will expand and diversify the batteryindustry, and will be able to ensure a longer-duration energy supply,thus meeting additional growing needs in this field. The Company'sprojects fit in perfectly with local and sustainable development ofclean energy production and I will enthusiasticallycontribute.”

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 Lac Doré pilot plantoutputs and to reprocess electrolytes.

On behalf of the Board ofVanadiumCorp Resource Inc.

Ian Mallory
Executive Chairman
ianm@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 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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