Mr. Kristien Davenport reports

VANADIUMCORP RESOURCE CLOSES NON-BROKERED PRIVATE PLACEMENT FINANCING

Vanadiumcorp Resource Inc. has received approval from the TSX Venture Exchange to close its non-brokered private placement financing for aggregate gross proceeds of $396,099.99.

The company has issued 3,600,909 units, each unit consisting of one common share of the company and one common share purchase warrant, each warrant being exercisable for an additional common share of the company at an exercise price of 15 cents for two years from the date of issue. All securities issued pursuant to the financing are subject to a four-month hold.

The financing includes two insiders subscribing for 960,000 units for a total of $105,600, that portion of the financing being a related party transaction as such term is defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25 per cent of the company's market capitalization.

Proceeds from the financing will be allocated for working capital and general corporate purposes.

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 include vanadium feedstock for electrolyte production. The company's initial electrolyte facility, located in Val-des-Sources, Que., will serve a dual purpose: evaluating the quality of the outputs and facilitating the initial production of electrolytes. Furthermore, the company intends to expand its production of electrolytes for the international market, specifically for long-duration vanadium flow batteries (VRBs).