VRB:CC - Vanadiumcorp Opens European Office in Frankfurt Am Main Germany

(TheNewswire)

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

Vancouver, British Columbia – TheNewswire - January 31, 2024 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") is a Canadian criticalminerals company focused on the renewable energy storage spacefacilitating the global energy transition. Our electrolytes will beused in the supply chain for the Vanadium Flow Battery (“VFB”)systems.

VanadiumCorp has recently established an office inFrankfurt am Main to facilitate the sales of vanadium electrolyte tothe European energy storage market and to evaluate potentialelectrolyte production locations in Germany and other parts of theEuropean Union. As part of this effort, the Company is conducting ascoping study to evaluate constructing an electrolyte plant inGermany.

The proposed operation aims to produce 4 million litresof vanadium electrolyte annually. This would contribute to theEuropean energy market by providing 76 MWh of energy storage using VFBtechnology every year. To ensure that the proposed project issustainable and cost-effective, the company is conducting a Life CycleCost analysis with the objective of locating anindustrial site that can offer favourable synergies to the Company’soperations. Additionally, the Company is actively seeking a suitablepartner(s) in the EU to support its proposed activities in the region.

The new Vanadiumcorp office is in the financialdistrict at Große Gallusstraße 16-18 Frankfurt, Germany.

About Long Duration Energy Storageand Vanadium Electrolyte

Long Duration Energy Storage (LDES) is critical for decarbonizing theelectrical grid and energy shifting. The VFB is a unique technologythat can operate indefinitely with inexpensive maintenance.Electrolytes are the most significant cost component of the VFB energystorage system.

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 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.

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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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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