VanadiumCorp Resource Gets Final Approval, Closes Private Placement Financing

(TheNewswire)

Vancouver, BC – TheNewswire – May11, 2026 – VanadiumCorp Resource Inc. (TSX?V: VRB) (FSE: NWNA) (OTC: VRBFF) (the “Company” or“VanadiumCorp”) further to its news releasesdated April 6, 2026, April 15,2026, and May 7, 2026 announces that it hasreceived final approval from the TSX Venture Exchange to close of itsnon?brokered privateplacement financing (the “Financing”).

The Company has issued 1,308,333 $0.12 units, for$157,000 in a second tranche closing for a totalof 5,291,666 $0.12 unitsissued in two (2) tranches, and total aggregategross proceeds of $635,000. Each unit consists of one commonshare of the Company and one common share purchase warrant, with eachwarrant being exercisable at a price of $0.22 per share fora period of two years from the date of issue, subject to the right ofthe Company to accelerate the exercise period to 30 days if, after theexpiry of the 4-month hold, shares of the Company close at or above$0.50 for 10 consecutive trading days.  

No finders fees have been paid and all securitiesissued pursuant to the Financing will be subject to a statutoryfour?month hold periodfrom the date of issuance, in accordance with applicable securitieslaws. Proceeds from the Financing are intended to be used for workingcapital and general corporate 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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