Mr. Adriaan Bakker reports

PEA TECHNICAL REPORT REVIEW

Vanadiumcorp Resource Inc.'s Lac Dore preliminary economic assessment filed on SEDAR dated Dec. 28, 2017, is currently under review by the B.C. Securities Commission to clarify disclosure pertaining to qualified persons and market data. As such, the current economic analysis and mineral resources are not supported by a compliant National Instrument 43-101 technical report, contrary to National Instrument 43-101, and that the estimates should not be relied on until they have been verified and supported by a technical report. The company will amend and refile the PEA once further clarification is complete.