Mr. Adriaan Bakker reports

VANADIUMCORP WARRANT EXTENSIONS

Vanadiumcorp Resource Inc. has applied to the TSX Venture Exchange for acceptance to amend the terms of an aggregate of 13,418,699 common share purchase warrants, issued pursuant to a non-brokered private placement, which closed on April 8, 2017. The warrants originally issued are exercisable into common shares in the capital of the company at an exercise price of 10 cents per common share, with the warrants expiring on April 8, 2019. These warrants will be amended by extending the expiry date of the warrants to April 8, 2020. In addition, each warrant will have an accelerated expiry clause such that upon the company's shares trading at or above nine cents for 10 consecutive trading days, Vanadiumcorp will give notice within seven calendar days that the warrants will expire 30 days from the date of providing such notice. No warrants issued under the private placement have been exercised to date. The amendment to the terms of the warrants is subject to exchange approval.

The company has granted 9.5 million incentive stock options to directors and officers of the company and 2.4 million to employees and consultants of the company at a price of seven cents per share exercisable for a period of five years.

About Vanadiumcorp Resource Inc.

Vanadiumcorp is an innovative process technology and mining company dedicated to commercializing new methods to sustainably recover critical metals. The energy of tomorrow will be radically different from the past. Vanadiumcorp-Electrochem process technology is an environmentally sustainable, high-yield, high-efficiency process for recovering vanadium, titanium and iron values from most vanadium-bearing sources, including waste. Vanadiumcorp also holds a significant vanadium-titanium-iron-bearing resource base in mining-friendly Quebec, Canada.