Mr. Adriaan Bakker of Vanadiumcorp reports

ALIX ENTERS INTO PROPERTY OPTION AGREEMENT TO JOINT VENTURE UP TO 60% OF VANADIUMCORP'S IRON-T VANADIUM PROJECT

Vanadiumcorp Resource Inc. has entered into a mineral property option agreement dated June 27, 2017, with Alix Resources Corp. for Alix to joint venture up to a 60-per-cent interest in the Iron-T vanadium project, which spans 3,500 hectares and encompasses a National Instrument 43-101 vanadium resource adjacent to the mining centre of Matagami, Que.

As consideration for grant of the option and pursuant to the terms of the option agreement, Alix will pay Vanadiumcorp an aggregate stock consideration of five million common shares and incur an aggregate of $2-million of staged expenditures to earn a 60-per-cent interest in the property as shown in the attached table.

Date                                                    Aggregate stock      Aggregate work
                                                          consideration          obligation
On execution of option agreement and
regulatory approval (closing date)                200,000 common shares                 Nil
On or before June 30, 2018                                          Nil            $100,000 
On or before 12 months from closing date          600,000 common shares                 Nil
On or before June 30, 2019                                          Nil            $400,000 
On or before 24 months from closing date      1.2 million common shares                 Nil
On or before June 30, 2020                                          Nil          $1-million
On or before 36 months from closing date    Three million common shares                 Nil
On or before June 30, 2021                                          Nil          $2-million

Located 350 kilometres west of Vanadiumcorp's Lac Dore vanadium project, the Iron-T vanadium project encompasses a current National Instrument 43-101 VTM (vanadiferous titanomagnetite) resource, titled the Genesis zone, measures 14,376,000 tonnes inferred at 0.42 per cent V2O5 (vanadium pentoxide)*. VTM mineralization is at surface, open at depth and along strike.

Adriaan Bakker, chief executive officer of Vanadiumcorp, stated: "Alix shares a similar vision of a bright future in the vanadium and energy storage industries. Partnership on this exciting project will assist both companies build value for their shareholders."

Vanadiumcorp is developing new processing technology for efficient and carbon-free direct recovery of VTM into vanadium electrolyte and other vanadium, iron and titanium products without slagging, smelting and roasting, and it is understood Alix will have access to this technology as it pertains to the Iron-T vanadium project. Trial production of iron, titanium and vanadium directly from Vanadiumcorp's Lac Dore VTM concentrate in phase II development of Vanadiumcorp-Electrochem technology has recently commenced.

* See "Technical Report, Resource Update of the Iron-T Vanadium-titanium-Iron Property, Matagami Area, Quebec, Canada," dated May 19, 2011, written by Maxime Dupere, PGeo, SGS Canada Inc. (Geostat) for Apella Resources Inc.

About Alix Resources Corp.

Alix Resources is a junior exploration project generator focused on acquiring advanced lithium properties in excellent mining jurisdictions. Alix continues to evaluate suitable prospects that fit the mandate of the company.

The transaction is subject to certain closing conditions, including the approval of the TSX Venture Exchange. There can be no assurance that the transaction will close as proposed or at all.

The technical contents of this release were approved by Paul Sorbara, PGeo, who is a director of Vanadiumcorp and a qualified person as defined by NI 43-101. To the best of the issuer's knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of this mineral resources inaccurate or misleading.

We seek Safe Harbor.