Mr. Adriaan Bakker reports

VANADIUMCORP COMPLETES PRIVATE PLACEMENT

Vanadiumcorp Resource Inc. has completed its previously announced non-brokered private placement of flow-through common shares. Pursuant to the private placement, the company issued 1.4 million flow-through common shares at a price of seven cents per share for gross proceeds of $98,000.

In connection with the private placement, the company has agreed to pay a cash finder's fee of $5,880. The shares issued in connection with the private placement are subject to a statutory hold period expiring on Dec. 21, 2020.

Proceeds from the placement will be utilized for advancing the 100-per-cent-owned Lac Dore vanadium project in Chibougamau, Que., Canada.

Vanadiumcorp Resource is an integrated technology and mining company focused on developing the exclusive supply chain for vanadium-based energy storage and emerging technologies that utilize vanadium. Vanadiumcorp owns 100 per cent of two of the most coveted, undeveloped primary vanadium-rich magnetite resources rich in iron and titanium. The company has also co-developed process technology that can unlock maximum metal value with renewable energy from most vanadium-bearing feed stocks as well as flow battery technology that can utilize vanadium indefinitely. Vanadiumcorp's key vanadium mining assets are located in mining-friendly Quebec, Canada, including the 100-per-cent-owned Lac Dore project adjacent to Blackrock Mining Inc. and the 100-per-cent-owned Iron-T project located near the Glencore (Bracemac-McLeod) Matagami copper-zinc mine.