Ms. Kristien Davenport reports

PROGRESS UPDATE - AMBIENT NOISE TOMOGRAPHY SURVEY - LAC DORE DEPOSIT

Vanadiumcorp Resource Inc. engaged CAUR Technologies in December, 2024, to conduct an ambient noise tomography (ANT) survey to characterize the Lac Dore deposit located on Vanadiumcorp's property near Chibougamau, Que. Ambient noise tomography is a passive technique that records ambient vibrations using seismic sensors. This method allows for the modelling of underground structures and provides detailed information on S-wave velocities.

The scope of the project includes creating a synthetic velocity model, optimizing the sensor network design and recording seismic noise using 104 triaxial sensors. Additionally, the project involves managing and archiving the seismic data collected. The final report will detail the survey design, field campaign, data collected, data analysis, the final S-wave velocity model and geological interpretations.

ATN progress report

Initial planning focused on designing the sensor layout to optimize the imaging of the Lac Dore deposit. Fieldwork at the Lac Dore property started during the week of Dec. 22, 2024. Initial activities included land surveying, reconnaissance and the placement of sensor positions in preparation for deployment. Geophone deployment was completed in March, and data recording will conclude at the end of April. Following this, data processing will begin on the 3-D geophysical interpretation model, which is expected to take approximately four to six weeks.

The goal of the ambient noise tomography survey is to develop an updated geological and structural model. This model will be used in the revision of the NI 43-101 report which was including VTM Resource, which was released in 2020 and is classified as a historical estimate.

Financing

The company has submitted documents to the TSX Venture Exchange to seek conditional approval for the announced financing, which includes the closing of a second tranche that will generate gross proceeds of $50,000.00. This tranche involves the issuance of 454,545 Units to arm's-length subscribers. Additionally, the company may pay finders' fees in cash and warrants, which will have the same terms as the unit warrants. Furthermore, in order to accommodate changes in the Quebec flow-through tax regulations announced March 25, 2025, the company has received approval to extend the announced financing to May 14, 2025.

All shares issued as part of this financing, as well as any shares resulting from the exercise of warrants, will be subject to a four-month hold period from the closing date. The financing is contingent upon approval from the TSX-V.

Net proceeds from the financing will be used for exploration and metallurgical testing of the company's wholly owned mineral properties, electrolyte plant and general corporate purposes.

Director of Vanadiumcorp, Andre Gauthier, PEng, PGeo, is the qualified person (as defined in NI 43-101) who has reviewed this news release.

About Vanadiumcorp Resource Inc.

Vanadiumcorp is a Canadian critical metals exploration company owning 100 per cent of two strategic properties in Quebec: the Iron T and the flagship Lac Dore property. The company is advancing innovative technologies to extract vanadium-titanium and potentially high-grade iron from its vanadiferous titanomagnetite projects. The successful implementation of these technologies is expected to ensure a stable, long-term supply of the company's critical metal deposits, which includes vanadium feedstock for its inaugural electrolyte production facility situated in Val-des-Sources, Que. This electrolyte plant will serve a dual purpose: evaluating the quality of outputs from the Lac Dore pilot plant and facilitating the recycling of electrolyte. Furthermore, the company intends to expand its production of electrolytes for the international market, specifically for long-duration vanadium flow batteries (VRBs).

We seek Safe Harbor.