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File: 2017-07-06 Vanadiumcorp-Alix Enter Option Agreement (002).docx

                                               
ALIX ENTERS INTO PROPERTY OPTION AGREEMENT TO JOINT VENTURE UP TO 60% OF VANADIUMCORP'S IRON-T VANADIUM PROJECT

VANCOUVER, BRITISH COLUMBIA - July 6, 2017 - VanadiumCorp Resource Inc. (TSX-V: "VRB") (the "Company") is pleased to a
--->nnounce that it has entered into a Mineral Property Option Agreement dated June 27th (the "Option Agreement") with ALI
--->X Resources Corp. ("Alix") (AIX-TSX:V) (37N-FRANKFURT) for Alix to joint venture up to an 60% interest in the Iron-T V
--->anadium Project (the "Property") which spans 3,500 hectares and encompasses an NI 43-101 vanadium resource adjacent to
---> the mining center of Matagami, Quebec (the "Transaction"). 

As consideration for grant of the option and pursuant to the terms of the Option Agreement, Alix will pay VanadiumCorp
---> an aggregate stock consideration of 5,000,000 common shares and incur an aggregate of $2,000,000 CDN of staged expend
--->itures to earn a 60% interest in the Property as follows:

Date
 Aggregate Stock Consideration
 Aggregate Work Obligation
 
 On execution of Option Agreement and regulatory approval (closing date)
 200,000 common shares
 Nil
 
 On or before June 30, 2018;
 Nil
 $100,000 CDN
 
 On or before 12 months from Closing Date
 600,000 common shares
 Nil
 
 On or before June 30, 2019;
 Nil
 $400,000 CDN
 
 On or before 24 months from Closing Date
 1,200,000 common shares
 Nil
 
 On or before June 30, 2020;
 Nil
 $1,000,000 CDN
 
 On or before 36 months from Closing Date
 3,000,000 common shares
 Nil
 
 On or before June 30, 2021;
 Nil
 2,000,000 CDN
 
 
Located 350km west of the VanadiumCorp Lac Dore Vanadium Project, the Iron-T Vanadium Project encompasses a current NI
---> 43-101 VTM resource, titled the "Genesis Zone" measures 14,376,000 tonnes inferred at 0.42% V2O5*. VTM mineralization
---> is at surface, open at depth and along strike. 

Adriaan Bakker, CEO of VanadiumCorp stated, "Alix shares a similar vision of a bright future in the vanadium and energ
--->y storage industries. Partnership on this exciting project will assist both companies build value for their shareholde
--->rs."

VanadiumCorp is developing new processing technology for efficient and carbon free direct recovery of vanadiferous tit
--->anomagnetite "VTM" into vanadium electrolyte and other vanadium, iron and titanium products without slagging, smelting
---> and roasting and it is understood Alix will have access to this technology as it pertains to the Iron-T Vanadium Proj
--->ect. Trial production of iron, titanium and vanadium directly from VRB's Lac Dore VTM concentrate in Phase II developm
--->ent of Vanadiumcorp-Electrochem Technology has recently commenced.

*see "Technical Report, Resource Update of the IRON-T VANADIUM-TITANIUM-IRON Property, MATAGAMI AREA, QUEBEC, CANADA" 
--->dated May 19, 2011, written by Maxime Dupere P.Geo., SGS Canada inc. - Geostat for Apella Ressources Inc. 

About Alix Resources
Alix Resources is a junior exploration project generator focused on acquiring advanced lithium properties in excellent
---> mining jurisdictions. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
The Transaction is subject to certain closing conditions, including, the approval of the TSX Venture Exchange (the "TS
--->X-V"). There can be no assurance that the Transaction will close as proposed or at all.

The technical contents of this release were approved by Paul Sorbara, P. Geo, who is a director of VanadiumCorp and a 
--->qualified person as defined by National Instrument 43-101. To the best of the issuer's knowledge, information, and bel
--->ief, there is no new material scientific or technical information that would make the disclosure of this mineral resou
--->rces inaccurate or misleading

ON BEHALF OF THE BOARD 
"Adriaan Bakker"
Adriaan Bakker, President and Chief Executive Officer 

For more information, contact Vanadiumcorp:
By phone: 604-385-4489 
By email: ab@vanadiumcorp.com
Website: www.vanadiumcorp.com

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. 
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or fu
--->ture performance and reflect management's current expectations and assumptions.  Such forward-looking statements refle
--->ct management's current beliefs and are based on assumptions made by and information currently available to the Compan
--->y. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject 
--->to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looki
--->ng statements are made as of the date hereof and, except as required under applicable securities legislation, the Comp
--->any does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward
--->-looking statements made in this press release are qualified by these cautionary statements and by those made in our f
--->ilings with SEDAR in Canada (available at WWW.SEDAR.COM).


File: 2017-07-06 Vanadiumcorp-Alix Enter Option Agreement (002).pdf

                                                                                     TSX-V: "VRB"

ALIX ENTERS INTO PROPERTY OPTION AGREEMENT TO JOINT VENTURE UP TO 60%
              OF VANADIUMCORP'S IRON-T VANADIUM PROJECT

VANCOUVER, BRITISH COLUMBIA   July 6, 2017   VanadiumCorp Resource Inc. (TSX-V: "VRB") (the
"Company") is pleased to announce that it has entered into a Mineral Property Option Agreement dated
June 27th (the "Option Agreement") with ALIX Resources Corp. ("Alix") (AIX-TSX:V) (37N FRANKFURT)
for Alix to joint venture up to an 60% interest in the Iron-T Vanadium Project (the "Property") which
spans 3,500 hectares and encompasses an NI 43-101 vanadium resource adjacent to the mining center
of Matagami, Quebec (the "Transaction").

As consideration for grant of the option and pursuant to the terms of the Option Agreement, Alix will
pay VanadiumCorp an aggregate stock consideration of 5,000,000 common shares and incur an
aggregate of $2,000,000 CDN of staged expenditures to earn a 60% interest in the Property as follows:

                                               Aggregate Stock                 Aggregate Work
 Date
                                               Consideration                   Obligation
 On execution of Option Agreement and
                                               200,000 common shares           Nil
 regulatory approval (closing date)
 On or before June 30, 2018;                   Nil                             $100,000 CDN
 On or before 12 months from Closing Date      600,000 common shares           Nil
 On or before June 30, 2019;                   Nil                             $400,000 CDN
 On or before 24 months from Closing Date      1,200,000 common shares         Nil
 On or before June 30, 2020;                   Nil                             $1,000,000 CDN
 On or before 36 months from Closing Date      3,000,000 common shares         Nil
 On or before June 30, 2021;                   Nil                             2,000,000 CDN

Located 350km west of the VanadiumCorp Lac Dore Vanadium Project, the Iron-T Vanadium Project
encompasses a current NI 43-101 VTM resource, titled the "Genesis Zone" measures 14,376,000 tonnes
inferred at 0.42% V2O5*. VTM mineralization is at surface, open at depth and along strike.

Adriaan Bakker, CEO of VanadiumCorp stated, "Alix shares a similar vision of a bright future in the
vanadium and energy storage industries. Partnership on this exciting project will assist both companies
build value for their shareholders."

VanadiumCorp is developing new processing technology for efficient and carbon free direct recovery of
vanadiferous titanomagnetite "VTM" into vanadium electrolyte and other vanadium, iron and titanium
products without slagging, smelting and roasting and it is understood Alix will have access to this
technology as it pertains to the Iron-T Vanadium Project. Trial production of iron, titanium and vanadium
directly from VRB's Lac Dore VTM concentrate in Phase II development of Vanadiumcorp -Electrochem
Technology has recently commenced.
 *see "Technical Report, Resource Update of the IRON-T VANADIUM-TITANIUM-IRON Property,
MATAGAMI AREA, QUEBEC, CANADA" dated May 19, 2011, written by Maxime Dupere P.Geo., SGS
Canada inc.   Geostat for Apella Ressources Inc.

About Alix Resources
Alix Resources is a junior exploration project generator focused on acquiring advanced lithium
properties in excellent mining jurisdictions. Alix continues to evaluate suitable prospects that fit the
mandate of the Company.
The Transaction is subject to certain closing conditions, including, the approval of the TSX Venture
Exchange (the "TSX-V"). There can be no assurance that the Transaction will close as proposed or at all.

The technical contents of this release were approved by Paul Sorbara, P. Geo, who is a director of
VanadiumCorp and a qualified person as defined by National Instrument 43-101. To the best of
the issuer's knowledge, information, and belief, there is no new material scientific or technical
information that would make the disclosure of this mineral resources inaccurate or misleading

ON BEHALF OF THE BOARD
"Adriaan Bakker"
Adriaan Bakker, President and Chief Executive Officer

For more information, contact Vanadiumcorp:
By phone: 604-385-4489
By email: ab@vanadiumcorp.com
Website: www.vanadiumcorp.com

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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or
future performance and reflect management's current expectations and assumptions. Such forward-looking statements refl
--->ect
management's current beliefs and are based on assumptions made by and information currently available to the Company.
Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to 
--->risks
and uncertainties that may cause future results to differ materially from those expected. These forward-looking statem
--->ents are
made as of the date hereof and, except as required under applicable securities legislation, the Company does not assum
--->e any
obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made
---> in this
press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (avai
--->lable at
WWW.SEDAR.COM).