Mr. Paul McGuigan reports

VANADIUMCORP ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FINANCING

Vanadiumcorp Resource Inc. has arranged a non-brokered private placement financing for aggregate gross proceeds of up to $600,000.

The financing will consist of up to 15 million four-cent units, with each unit consisting of one common share of the company and one common share purchase warrant, with each warrant being exercisable for an additional common share at six cents for five years.

The financing is subject to TSX Venture Exchange approval, and securities issued pursuant to the financing will be subject to a four-month-and-one-day hold period. Finders' fees may be paid in accordance with TSX-V policies.

The company will use the net proceeds for general working capital and to advance the company's exploration and metallurgical testing at the Lac Dore mineral deposit near Chibougamau, Que.

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource seeks to produce a reliable stream of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium redox flow batteries. The company's initial manufacturing facility is based in Val-des-Sources, Que. The company has also completed its engineering scoping of a four-million-to-eight-million-litre-per-year electrolyte manufacturing facility and is actively negotiating for the required financing and joint venture partnerships.

Stable, long-term access to vanadium feedstock to produce electrolytes is assured, success contingent on developing the company's wholly owned, flagship Lac Dore mineral deposit near Chibougamau, Que. The company's electrolyte plant will also be used to test the quality of future Lac Dore pilot plant outputs and to reprocess electrolytes.