Received by email:

File: tranche2.docx

                                               TSX-V: "VRB"


VANADIUMCORP CLOSES SECOND TRANCHE FOR $540,000
VANCOUVER, BRITISH COLUMBIA - May 23, 2017 - Vanadiumcorp Resource Inc. is pleased to announce it has closed the 2nd t
--->ranche of the over subscribed non-brokered private placement of 9,000,000 units at a price of CDN $0.06 cents per unit
---> for a total of CDN $540,000. Each unit shall consist of one common share of the issuer and one full share purchase wa
--->rrant. 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 issued pursuant to the placement will b
--->e subject to a hold period of four months and one day from the date of closing. Proceeds from the placement will be ut
--->ilized for advancing the patent pending Vanadiumcorp-Electrochem process technology, trial Vanadiumcorp ElectrolyteTM 
--->and electrolytic iron production and operating capital. No fees or commissions were paid in association with the priva
--->te placement.

FOR MORE INFORMATION, CONTACT: 
Adriaan Bakker, President and Chief Executive Officer - Direct: 604-385-4485 

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.