Received by email:

File: 2018-06-12 VRB PEA Pending CTO.pdf

                                                                                 TSX-V: "VRB"

           Newly Authored Preliminary Economic Assessment
            Technical Report on Lac Dore Vanadium Project
           With New Production Model Pending Public Filing
VANCOUVER, BRITISH COLUMBIA   June 12, 2018, VanadiumCorp Resource Inc. (TSX "VRB") (the
"Company") announces material news and public filing is pending regarding a newly authored
Preliminary Economic Assessment ("PEA") Technical Report on the Company's 100% owned Lac Dore
Vanadium Project that will now include the economics of conventional primary processing methods.

A PEA on the production of vanadiferous titanomagnetite ("VTM") concentrate from the Lac Dore
Vanadium Project to provide the ideal vanadium rich VTM concentrate feedstock for the Company's new
green process technology jointly developed with Electrochem Technologies was disclosed in a technical
report dated December 28, 2017. That report was deemed non-NI 43-101 compliant by the British
Columbia Securities Commission ("BCSC") and on January 17, 2018, VanadiumCorp was requested to
address concerns relating to the production model/VTM market and related Qualified Persons ("QPs")
and to re-file a revised report in 10 days. The Company challenged these concerns, presented
corroborating information and requested reasonable time to amend the report on a teleconference with
the BCSC dated January 29th, 2018. The Company then contacted several engineering firms specializing
in vanadium mining with a request to amend and refile the PEA with the assistance of the current QPs.

On March 23, the Company was required to provide the BCSC a specific estimate of time to re-file the
PEA which it provided under the premise of amendment and re-filing. VanadiumCorp was subsequently
notified that the BCSC would not accept the author/QP of the 2017 PEA as independent, and issued a
news release disclosing a 60 day timeline to refile as per BCSC request.

Micon International Limited ("Micon") was contacted in March 2018 and, given its relevant and
specialized expertise in vanadium mining with companies like Largo Resources Inc., was approached for
the difficult task of completing a newly authored PEA with a new production model in approximately 60
days. Discussions with Micon proceeded into early April with regard to the possibility of producing a
PEA report in such a short time period. Accordingly, Micon provided a proposal for re-writing the PEA
to VanadiumCorp on April 17, 2018. The proposal was accepted on the same date. Since that time,
Micon was provided all existing technical data and other relevant information on the project by
VanadiumCorp and its consultants, and Micon was able to make the required site visit on May 22/23,
2018, which was the earliest date that on-site conditions were suitable. Since then, Micon's audit/review
of the block model and resource estimate has progressed, as well as work on the compilation of an
operating cost estimate, process recoveries for the production of V2O5 and other factors used to
determine the economic pit limits. Pit optimization has been undertaken, and production scheduling
and capital cost estimation are underway. It is Micon's aim to complete the remaining work required
with appropriate diligence so as to ensure that the resulting PEA technical report is fully compliant with
NI 43-101 guidelines.
 VanadiumCorp on May 29th communicated to the BCSC that Micon required additional time to complete
the report. On June 11, 2018 VanadiumCorp received by email a notification of a cease trade order. As
a result, VanadiumCorp will remain cease traded by the BCSC Commission until the newly authored PEA
can be filed.

Micon anticipates completion, within June 2018, of a fully compliant NI 43-101 Technical Report which
the Company intends to file at the earliest opportunity. The Company also wishes to compliment Micon
on the outstanding work completed thus far and endeavoring to complete a newly authored, new
production model NI 43-101 compliant Technical Report.

For more information, contact VanadiumCorp:
Adriaan Bakker, President, CEO
By phone: 604-385-4489
By email: ab@vanadiumcorp.com
Website: www.vanadiumcorp.com

On behalf of the board:

Adriaan Bakker,
President and Chief Executive Officer

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accepts responsibility for the adequacy or accuracy of this release.