Mr. Adriaan Bakker reports

NEW RELEASE CLARIFICATION: NI 43-101 TECHNICAL REPORT: LAC DORE VANADIUM PROJECT WITH FIRST RESOURCE ESTIMATE COMPLETE

Vanadiumcorp Resource Inc., as result of a review of the company's news release dated April 14, 2015, by the Investment Industry Regulatory Organization of Canada (IIROC), is issuing this news release to clarify and retract certain disclosure from the aforementioned news release. The news release referenced the technical report titled "NI 43-101 Technical Report: Lac Dore Vanadium Project with First Resource Estimate Complete," dated April 13, 2015. The company is retracting disclosure to any reference to mining, mining rate, milling rate, mine life, recoverable vanadium, total recoverable vanadium, pit ratio and any other reference that was calculated from the resource estimate that would imply the technical feasibility and/or economic viability of the project from this disclosure. This is a requirement of disclosure in a mining study that meets the definition of a preliminary economic assessment, preliminary feasibility study or feasibility study, which study is currently under preparation. The report does not satisfy the definition of any of these documents.

With the resource estimate complete, the company is currently working on a preliminary economic assessment as its next stage of development, with a full budget outlined in the report.

This release was approved by Rejean Girard, PGeo. Mr. Girard is a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.