Mr. Paul McGuigan reports

VANADIUMCORP APPOINTS A NEW QUEBEC-BASED chief financial officer

Tony Giuliano, CA, CPA, has joined Vanadiumcorp Resource Inc., effective today, as its chief financial officer. He replaces James Ross, the interim chief financial officer.

Mr. Giuliano is a seasoned, multilingual professional finance executive with extensive experience with both Canadian- and U.S.-listed public companies and privately-held companies. He holds a chartered professional accountant (CPA/CA) designation and has 40 years of postgraduate experience. He demonstrates a progressive career advancement with operational expertise in financial management, controls, and transactions.

Mr. Giuliano has spearheaded strategic planning and major restructurings, resulting in cost-effective and efficient operations. Vanadiumcorp will value his leadership as it transitions to industrial operations in Q1 2024.

Mr. Giuliano states: "I am pleased to join the Vanadiumcorp team as it transitions to a Quebec-based operations management. I hope to draw on my finance background in Canadian and U.S. operations to shepherd Vanadiumcorp's pending entry into electrolyte production destined for the Canadian, U.S. and EU markets."

Mr. Giuliano is a resident of Montreal. In the last year, Vanadiumcorp sought to recruit Quebec-based directors, board advisers, officers and technical staff. Recently, the company added the honourable Christian Paradis, previously the Federal Minister of Mines and Energy, and Mario Drolet to the board of directors as independent directors. With Mr. Giuliano, the company now has five senior Quebec directors and officers who can guide Vanadiumcorp's relationships with government, community and investor stakeholders.

Paul McGuigan, chief executive officer of the company, stated: "We are delighted to have Tony join the Vanadiumcorp team. His proven leadership in strategic planning and operations management will be invaluable to the board as the company seeks to realize our strategy of commencing production of vanadium electrolytes in Val-des-Sources, Que., in Q1 2024 and advancing on our strategic vanadium, titanium and iron mineral resource at Lac Dore, Que."

The board of directors wishes to thank Mr. Ross for his service as the company's interim chief financial officer while it restructured and built its Quebec team. Mr. Ross will remain on the advisory team.

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource 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, Que.

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