Mr. Paul McGuigan reports

VANADIUMCORP APPOINTS A NEW INDEPENDENT DIRECTOR

Mario Drolet, BA (1986), has joined the board of directors of Vanadiumcorp Resource Inc., effective today.

Mr. Drolet joins Vanadiumcorp with a 30-year history of finance, derivatives trading, and corporate communications. Mr. Drolet is well known in the Quebec financial and university communities. He has served as an advisor to all mining industry sectors, including vanadium and iron ore companies.

In the last year, we sought to recruit Quebec-based directors, board advisors, officers, and technical personnel. On October 23, the Company added the Honorable Christian Paradis, previously the Federal Minister of Mines and Energy, to the Board of Directors as an independent director. With Mr. Drolet, we now have two independent Quebec directors able to guide Vanadiumcorp in its relationships with government, community, and investor stakeholders.

Paul McGuigan, CEO of the Company, stated: "We are delighted to have Mario join the Vanadiumcorp team. His impressive leadership background in finance and corporate communications will be invaluable to the Board as the Company seeks to realize our strategy of commencing production of vanadium electrolytes in Val-des-Sources, Quebec in Q1 2024 and advancing on our strategic vanadium, titanium, and iron mineral resource at Lac Dore, Quebec."

Mario Drolet stated, "I am honored to join Vanadiumcorp's Board of Directors and excited to contribute to the Company's strategic vision and growth. I look forward to collaborating with the talented team in achieving shared success."

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource Inc. seeks to produce a reliable stream of high-quality vanadium electrolytes for the expanding international market for long-duration Vanadium Flow Batteries (VFB). The Company's initial manufacturing facility is based in Val-des-Sources, Quebec. Stable, long-term access to vanadium feedstock to produce electrolytes is assured, success-contingent on developing our wholly owned vanadium-titanium-iron mineral deposits, including our flagship Lac Dore deposit near Chibougamau, Quebec.

The Company's electrolyte plant will also be used to test the quality of Lac Dore pilot plant outputs and to reprocess electrolytes. We are currently conducting an engineering scoping study to expand production to 4 million litres of electrolytes per year.

We seek Safe Harbor.