VM:CC - Voyageur Pharmaceuticals Ltd. Completes Comparative Studies of its SmoothX(R) Contrast Media Confirming Product Superiority and announces Option Grant and AGM Date

(TheNewswire)

Calgary, Alberta – TheNewswire - April 4, 2023 - Voyageur Pharmaceuticals Ltd. (TSXV:VM) ( OTC :VYYRF) (the"Company" or "Voyageur") announces that it hascompleted comparative studies of SmoothX® versus Readi-Cat ® 2%with taste test and Computed Tomography (CT) scans on patients.Results of the double-blind testing showed that SmoothX® was favouredon drinkability and taste by 75% of patients compared to the competingproduct. The computed tomography scans were performed by CanadaDiagnostics in Calgary, Alberta and resulted in equivalent performanceto the current drug.

Our team of experts is currently preparing a medicalwhite paper that will provide an in-depth analysis of the studies andvaluable insights into the effectiveness of SmoothX to educate andinform doctors and medical staff about the benefits of SmoothX® forabdominal CT diagnostic imaging procedures.  This paper is a criticalpart of our overall preparation for market launch, and we areconfident that it will showcase the rigorous research and developmentthat has gone into bringing this product to fruition.

Voyageur is expanding its product line by advancing thedevelopment of an additional four barium contrast products, for whichthe company have already obtained Health Canada licenses. The companyplans to submit additional new generic product lines to Health Canadafor product licenses, including multiple barium swallow products forthe diagnosis of dysphagia. This market has been identified as apotential high growth area, with range estimated as being as high as22% of the population over 50 years of age affected by dysphagia.Voyageur plans to have a total of 13 barium contrast product linesavailable for the Canadian and US markets. The National Foundation ofSwallowing Disorders states:

“The prevalence of dysphagia is unknown, but Epidemiologic studiesindicate that the numbers may be as high as 22% of the population over50 years of age. Several studies conclude that between 300,000 and600,000 individuals in the United States are affected by neurogenicdysphagia each year. Plus, 10 million Americans are evaluated eachyear for swallowing difficulties. Because this disorder cuts across somany diseases, dysphagia is poorly understood and often underdiagnosed. Dysphagia effects represents a physiologic impairment thatoccurs along the continuum of swallowing from mouth to stomach.Dysphagia has been reported in up to 8% of the world's population, oralmost 600 million people ”. ( https://swallowingdisorderfoundation.com/about/swallowing-disorder-basics/)

“Through persistent efforts, our company continues tomake notable inroads in the diagnostic imaging market, achievingsubstantial progress and advancing towards our goals. We aredeveloping a new barium sulfate contrast product for CT imaging, whichmanagement expects will deliver exceptional performance at low cost”said Brent Wills, Voyageur’s CEO.

Voyageur will update its shareholders in the comingmonths on the progress it is making with the FDA and Health Canada onproduct licensing and product development.

Option Grant

Voyageur announced that it has issued 2,600,000 optionsto officers and consultants pursuant to its incentive stock optionplan (the "Options").  On March 23, 2023, the Company'sboard of directors approved the grant of Options, to be effective onApril 3 rd , 2023 using the closing price on that day.  The Optionswere issued with an exercise price of $0.075 per common share, vestimmediately, and have a 10-year term.  The Options are subject toregulatory and TSX Venture Exchange approval.

2023 Shareholders’ Meeting

Voyageur will hold its Annual General and SpecialMeeting on June 28, 2023 at 10am, at the offices of DS Lawyers CanadaLLP, 333 7th Avenue SW #800, Calgary Alberta.

About Voyageur

Voyageur is a Canadian public company listed on theTSXV under the trading symbol VM. Voyageur is focused on thedevelopment of barium and iodine Active Pharmaceutical Ingredients(“API”) and high-performance cost-effective imaging contrastagents for the medical imaging marketplace. Voyageur’s goal is tofully integrate the barium and iodine contrast market by producing itsown minerals of barium and iodine. The business plan is to initiallygenerate cash flow from operations using third party GMPpharmaceutical manufacturers in Canada and validate the products forregulatory agencies globally. Then transitioning into a high margindomestic manufacturer of radiology drugs. Voyageur has plans to buildcarbon neutral infrastructure to become 100% self-sufficient acrossall manufacturing activities. Voyageur owns a 100% interest in threebarium sulphate (barite) projects including the Frances Creekproperty, suitable in grade for the pharmaceutical marketplace, withadditional interests in a high-grade iodine, lithium & brominebrine project located in Utah, USA. Voyageur is moving forward withits business plan of becoming the only fully integrated carbon neutralcompany in the radiology contrast media drug market, by controllingall primary input costs under the motto of:

"From the Earth to theBottle".

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.

Cautionary Statement Regarding“Forward-Looking” Information

This news releasemay contain certain forward-looking information and statementsincluding statements pertaining to the preparation and completion ofthe white paper, Voyageur's marketing plans for SmoothX, Voyageur'splanned product offering expansions, Voyageur's developments withrespect to its next generation CT barium formulations,  including theanticipated benefits, efficacies and costs of such product, andobtaining regulatory and TSX Venture Exchange approval for the Optiongrants described herein. All statements included herein, other thanstatements of historical fact, are forward-looking information andsuch information involves various risks and uncertainties. There canbe no assurance that such information will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such information. A description of assumptions used todevelop such forward-looking information and a description of riskfactors that may cause actual results to differ materially fromforward-looking information can be found in the Company's disclosuredocuments on the SEDAR website at www.sedar.com. Voyageur does notundertake to update any forward-looking information except inaccordance with applicable securities laws.

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