Mr. Kristien Davenport reports

VANADIUMCORP RESOURCE RECEIVES CONDITIONAL APPROVAL, CLOSES FIRST TRANCHE OF FINANCING

Further to Vanadiumcorp Resource Inc.'s April 6, 2026, news release, the company has received conditional approval from the TSX Venture Exchange of its private placement financing.

The financing consists of up to 5,833,333 12-cent 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 22 cents for a period of two years from the date of issue, for aggregate gross proceeds of up to $700,000.

Further, the company has closed a first tranche of the financing, issuing 3,983,333 units for aggregate gross proceeds of $477,999.96.

The financing is subject to final exchange approval and all securities issued pursuant to the financing are subject to a four-month hold from date of issue. 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.

We seek Safe Harbor.