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File: 2017-04-19 Private Placement Tranche 1.doc

                                               
VanadiumCorp Closes $265,121 Private Placement
1st Tranche

VANCOUVER, BRITISH COLUMBIA - April 19th, 2017 - VanadiumCorp Resource Inc. (TSX-V: "VRB") (the "Company") is pleased 
--->to announce it has closed the 1st tranche of the over subscribed non-brokered private placement of 4,418,699 units at 
--->a price of CDN $0.06 cents per unit for a total of CDN $265,121.94. Each unit shall consist of one common share of the
---> issuer and one full share purchase warrant. Each full warrant will entitle the holder to acquire one common share of 
--->the issuer at a price CDN $0.10 for a period of 24 months following the closing date of the offering. All securities i
--->ssued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. 
--->Proceeds from the placement will be utilized for advancing the patent pending Vanadiumcorp-Electrochem process technol
--->ogy, trial Vanadiumcorp ElectrolyteTM and electrolytic iron production and operating capital. No fees or commissions w
--->ere paid in association with the private placement. 

On behalf of the board:




Adriaan Bakker, 
President and Chief Executive Officer 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.