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TSX-V: "VRB"





Not for release in the united states or to united states newswire services

Vanadiumcorp COMPLETES 2ND TRANCHE OF PRIVATE PLACEMENT

VANCOUVER, BRITISH COLUMBIA, January 30, 2020 - VanadiumCorp Resource Inc. (TSX-V: VRB) (the "Company") is pleased to 
--->announce that further to its news release dated December 16, 2019 and December 24, 2019, it has completed the second t
--->ranche of its non-brokered private placement.  Pursuant to the second tranche, the Company issued 1,990,000 units at a
---> price of $0.05 for gross proceeds of $99,500.  Each unit is comprised of one common share and one non-transferable wa
--->rrant.  Each warrant is exercisable into one common share of the Company at an exercise price of $0.07 per share for a
---> period of 24 months from the date of issuance.

The shares issued in connection with the second tranche are subject to a statutory hold period expiring on May 31, 202
--->0. 

Proceeds from the placement will be utilized for advancing the 100% owned Lac Dore vanadium project in Chibougamau, Qu
--->ebec, Canada, for the XRG technology development in Germany and for general working capital.

VanadiumCorp Resource Inc. is an integrated company developing an exclusive supply chain for next generation vanadium 
--->redox flow batteries. The Company has jointly developed process technology that mitigates the cost and carbon footprin
--->t of vanadium which is successfully tested on many global feedstocks. The Company's vanadium rich titanomagnetite reso
--->urce base is located in mining friendly Quebec, Canada and the first VRFB production facility is located in Karlsruhe,
---> Germany.
On behalf of the board of VanadiumCorp:
Adriaan Bakker 
President and Chief Executive Officer
For more information:
Adriaan Bakker, 
President and CEO, VanadiumCorp Resource Inc. 
(TSX-V: "VRB")
By phone: 1-604-385-4489
By email:   HYPERLINK "mailto:ab@vanadiumcorp.com"  ab@vanadiumcorp.com 
Website:   HYPERLINK "http://www.vanadiumcorp.com"  www.vanadiumcorp.com 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.