VanadiumCorp Resource Files for Final Approval, Closes Private Placement Financing

(TheNewswire)

Vancouver, BC – TheNewswire – May7, 2026 – VanadiumCorp Resource Inc. (TSX?V: VRB) (FSE: NWNA) (OTC: VRBFF) (the “Company” or“VanadiumCorp”) further to its news releasesdated April 6, 2026 and April15, 2026, announces that it has filed documentswith the TSX Venture Exchange seeking final approval of its previouslyannounced non?brokeredprivate placement financing (the “Financing”).

Pursuant to the Financing, the Company hasissued a total of 5,291,666 $0.12 units in two (2) tranches, for aggregate gross proceeds of$635,000. Each unit consists of one common share of the Company andone common share purchase warrant, with each warrant being exercisableat a price of$0.22 per share for a period of two years fromthe date of issue, subject to the right of the Company to acceleratethe exercise period to 30 days if, after the expiry of the 4-monthhold, shares of the Company close at or above $0.50 for 10 consecutivetrading days.  

The Financing remains subject to final acceptance bythe TSX Venture Exchange. All securities issued pursuant to theFinancing will be subject to a statutory four?month hold period from the date ofissuance, in accordance with applicable securities laws. Proceeds fromthe Financing are intended to be used for working capital and generalcorporate purposes.

Two investors became Insiders of the Company as aresult of their participation in the Financing. Such participationconstitutes a "related party transaction" within the meaningof Multilateral Instrument 61?101 – Protection of Minority Security Holders in SpecialTransactions ("MI 61?101"). The Company expects that such participation willbe exempt from the formal valuation and minority shareholder approvalrequirements of MI 61?101 pursuant to applicable exemptions thereunder, includingthe exemption for transactions not exceeding 25% of the Company’smarket capitalization.

About VanadiumCorp Resource Inc.

VanadiumCorpis a Canadian critical metalsexploration company that holds a 100% interest in two mineralproperties in Québec: the Iron?T Projectand its flagship Lac Doré Project. In addition to advancing its mineral assets, the Company isdeveloping its proprietary VanadiumCorp Electrochem Process Technology(VEPT), which is intended toextract vanadium, titanium, and potentially iron from vanadiferoustitanomagnetite resources.

The Company’s strategy combinesresource development with technology innovation aimed at supportingthe supply of vanadium for applications such as vanadium flow batteryelectrolyte used in large?scale energy storagesystems.

On behalf of the Board ofVanadiumCorp Resource Inc.

Kristien Davenport

President, CEO & Director

Tel: 778?719?4366

Email: info@vanadiumcorp.com

Website: www.vanadiumcorp.com

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

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

Forward?Looking Statements

This press release contains forward?looking statements andforward?lookinginformation within the meaning of applicable Canadian securities lawsand the United States Private Securities Litigation Reform Act of1995. Forward?lookingstatements include, but are not limited to, statements relating to thecompletion of the Financing, the receipt of regulatory approvals, theintended use of proceeds, and the Company’s future business plans.

Forward?looking statements are subject to known and unknown risks,uncertainties, and other factors that may cause actual results todiffer materially from those expressed or implied by such statements,including regulatory risks, market conditions, financing risks, andexploration uncertainties, as well as those risks disclosed in theCompany’s public disclosure documents available on SEDAR+. TheCompany does not undertake to update any forward?looking statements except asrequired by applicable securities laws.

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