Mr. Adriaan Bakker reports

VANADIUMCORP AND CENELEST TESTING NEXT GENERATION ELECTROLYTE FOR VANADIUM REDOX FLOW BATTERIES FOR MOBILE APPLICATIONS

Vanadiumcorp Resource Inc. has arranged the extensive testing of vanadium-bromide (V-Br) electrolyte for Vanadiumcorp by CENELEST, the German-Australian Alliance for Electrochemical Technologies for Storage of Renewable Energy. The testing is part of the trilateral (CENELEST-Vanadiumcorp) project focused on achieving a higher-energy-density vanadium electrolyte and successful operation in an advanced vanadium redox flow battery cell.

CENELEST research and development for this project were and are performed at both the University of New South Wales (UNSW) in Sydney, Australia, and Fraunhofer Institute for Chemical Technology (ICT) in Germany, Europe. All three parties contributed technologies and several provisions for the V-Br electrolyte project. V-Br electrolyte represents the potential for a revolutionary advancement in the vanadium flow battery that could enable safe and long-life zero-emission electrochemical energy for mobile applications (heavy-duty vehicles, trains, ships and many others) that require higher-energy-density battery systems only previously possible with lithium ion.

Work conducted by Vanadiumcorp and CENELEST in 2020 includes V-Br electrolyte formulation, electrolyte physicochemical properties characterization, cell component material selection and cell performance testing. Vanadiumcorp will showcase advances made on the electrolyte and vanadium cell in Q1 2021. The V-Br work follows the pioneering research UNSW Engineering has conducted since the 1980s on vanadium flow battery systems, which was led by its creator, emeritus professor Maria Skyllas-Kazacos, who is also an advisory board member of Vanadiumcorp since 2011.

A higher-energy-density V-Br electrolyte and advancements in stack architecture could represent two to three times the energy stored and made available by a conventional VRFB (vanadium redox flow battery). The implications for global sustainability and various industries transitioning to zero emissions is a potential game changer.

Adriaan Bakker, chief executive officer of Vanadiumcorp, stated: "We are at the forefront of VRFB innovation with CENELEST that could facilitate the electrification of both stationary and mobile applications. Vanadium is the only renewable metal in energy storage, and we plan to produce it with our 100-per-cent-owned green technology as green fuel in energy storage that can be scaled to any size."

About Vanadiumcorp Resource Inc.

The company is focused on the commercial development of its 100-per-cent-owned Vanadiumcorp-Electrochem process technology (VEPT), a green and efficient chemical process invented by Dr. Francois Cardarelli that addresses the recovery of vanadium, iron, titanium and silica from feedstocks such as vanadiferous titano-magnetite, iron ores and other industrial byproducts containing vanadium. Furthermore, Vanadiumcorp's mandate is to become a strategic supplier of renewable, next-generation vanadium electrolyte for redox flow batteries and other high-purity applications that benefit most from exclusively green and cost-effective vanadium. Vanadiumcorp plans to license VEPT globally and integrate VEPT into the development of the 100-per-cent-owned Lac Dore vanadium-titanium-iron flagship project adjacent to Blackrock Metals Inc.'s property, which is currently permitted to build a mine and mill to produce a vanadium-rich magnetite concentrate product. Vanadiumcorp provides investors with leverage to vanadium, titanium and iron in the mining-friendly and geopolitically stable jurisdiction of Quebec, Canada. Green recovery technology, primary vanadium resource size, superior grades and well-developed infrastructure put Vanadiumcorp in a valuable strategic position to take advantage of the strong vanadium market driven by supply shortages and growing demand from the Chinese and global steel industries as well as the fast-emerging renewable use of vanadium in sustainable energy storage for stationary to unlimited-scale applications. Nearby infrastructure at Lac Dore includes 161 kilovolts of hydro power at approximately two cents per kilowatt-hour, a Canadian National rail line, available water, local airport and a mining community of over 7,000 people in the city of Chibougamau.

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