Mr. Adriaan Bakker reports

PEA TECHNICAL REPORT UPDATE

Vanadiumcorp Resource Inc. anticipates refiling an amended PEA (preliminary economic assessment) technical report for its Lac Dore project in the next 60 days. The economic analysis and mineral resources previously disclosed by the company are not supported by a compliant National Instrument 43-101 technical report, and the estimates should not be relied on until they have been verified and supported by a technical report.