VRB:CC - Vanadiumcorp's First Electrolyte Production Plant is Fully Assembled

(TheNewswire)

Vancouver, British Columbia / TheNewswire / March 1, 2024 – VanadiumCorp ResourceInc. (TSXV:VRB) (FSE:NWNA) (OTC:VRBFF) ("VanadiumCorp" orthe "Company") is a Canadian critical metals companysupporting the supply chain of a new generation of long-durationVanadium Flow Batteries (VFBs) and targeting the decarbonization ofelectrical grids. A remarkable transformation of the global energylandscape is underway as we shift toward renewable energy sources.Solar and wind energy sources are forecasted to dominate powergeneration. Yet, vast amounts of long-duration energy storage (LDES)are vital to time-shift and stabilize these variable energy sources.The Vanadium Flow Battery is the most mature of the LDES batterytechnologies.

VanadiumCorp is pleased to announceour first vanadium electrolyte production facility is now fullyassembled and "dry-fitted." Today, we commencepressure testing of the equipment. Commissioning andcalibration of Plant No. 1 will begin next week, using our inventoryof vanadium pentoxide (V2O5) flake, 93% sulfuric acid, and additives.Operations and staff training start by the week of March 11,2024.

This Plant No. 1 is located in Val-des-Sources,Québec , at the Carrefour d’Innovation sur lesMatériaux de la MRC des Sources (CIMMS),

Paul McGuigan, P. Geo., CEO of the Company, stated:

"VanadiumCorp will entermidstream into the Vanadium Flow Battery (VFB) supply-chain with theproduction of vanadium electrolytes for Original EquipmentManufacturers (OEMs). With the initial production and testing of PlantNo. 1 electrolytes, VanadiumCorp is on track to produce up to 350,000litres of electrolytes annually, sufficient to store some 6.8 MWh ofelectrical energy in VFB installations. The Company welcomes inquiriesfrom those VFB OEMs seeking a reliable, Made-in-Canada source ofhigh-purity vanadium electrolytes."

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).According to MIT (2022), the flow battery "technology platformcan incorporate a wide array of chemistries, among which the mostdeveloped at present is the VFB, which is unique for its ability toperform indefinitely with inexpensive operationalmaintenance."

The Company's initial manufacturing facility is inVal-des-Sources, Québec. To assure stable, long-term access tovanadium feedstocks for electrolyte manufacturing, the Company isdeveloping novel hydrometallurgical processes to extract vanadium fromthe titanomagnetite deposits at its wholly owned Lac Doré propertynear Chibougamau, Québec.

The Company's electrolyte plant will also test thequality of the anticipated outputs from a Lac Doré pilot plant andreprocess electrolytes as needed. We are currently scoping theexpansion of 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
Direct: +1.604.970.3278

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.

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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