Mr. Adriaan Bakker reports

VANADIUMCORP COMPLETES $1 MILLION PRIVATE PLACEMENT

Vanadiumcorp Resource Inc., further to its Aug. 19, 2014, news release, has completed the second tranche of its non-brokered private placement previously announced on Aug. 8, 2014. This completes the increased placement of 16,914,635 units with gross proceeds now totalling $1,031,705.

The first and second tranche of the placement included identical terms. The non-flow-through units were sold at 5.5 cents per unit and the 4.7 million flow-through units were sold at 7.5 cents per FT unit.

The FT units issued under the placement were sold on a flow-through basis pursuant to the Income Tax Act (Canada) and purchased primarily by institutional investors. The common shares issued under the placement are subject to a four-month hold period that expires on Dec. 14, 2014, for tranche one and Dec. 28, 2014, for tranche two. A cash fee equal to 8 per cent was paid as a finder's fee in respect of a portion of the proceeds raised. Proceeds from the placement will be used for VanadiumCorp's Lac Dore resource calculation currently under way, other mineral exploration projects in Canada and general working capital purposes.