Mr. Paul McGuigan reports

VANADIUMCORP LAUNCHES ITS INTERNATIONAL MARKETING EFFORT

Vanadiumcorp Resource Inc. has produced an inventory of high-purity electrolytes at its plant No. 1 in Val-des-Sources, Que. The operations team has shown the capacity to manufacture to tight specifications and low impurities, based on the C-Tech electrolyzer system. It is fielding product calls from vanadium flow battery original equipment manufacturers looking for a dependable, made-in-Canada source of high-purity vanadium electrolytes.

Peter Besenovsky, PEng, the chief executive officer of its German subsidiary, Vanadiumcorp GmbH, is attending the International Flow Battery Forum this week in Glasgow, United Kingdom. Mr. Besenovsky reports from the floor of IFBF that variable energy resources such as large solar and wind projects are facing severe curtailment on the electrical grids of Europe, especially Germany. As the share of VER quickly rises, tackling the stability of the grid and full use of renewable energy will require an exceptionally large complement of long-duration energy storage -- a strength of the vanadium flow battery.

Mr. Besenovsky leaves the conference for meetings in Europe to introduce Vanadiumcorp to industry and government and to negotiate its first round of electrolyte sales.

Vanadium electrolyte production is a key milestone for Vanadiumcorp. Plant No. 1 proves its capacity to build manufacturing plants and will provide sufficient electrolytes to develop its initial customer base.

The company's technical team completed scoping-level engineering for a four- to eight-million-litre-per-year plant. Upon securing offtake contracts, scoping indicates that about 18 months of detailed engineering, procurement and construction are required to open plant No. 2.

Paul McGuigan, PGeo, chief executive officer of the company, stated: "Vanadiumcorp has constructed its first electrolyte plant in less than 12 months using mostly in-house technical staff. We look forward to our next phase of corporate development and commercial production, enabled by the experience of our first plant."

About Vanadiumcorp Resource Inc.

The company's plant No. 1 is in Val-des-Sources, Que., at the Carrefour d'Innovation sur les Materiaux de la MRC des Sources. The company's website displays photographs of the completed plant.

A remarkable transformation of the global energy landscape is under way as the company shifts toward renewable energy sources. Solar and wind energy sources are forecasted to dominate power generation. Yet, vast amounts of long-duration energy storage are vital to time-shift and stabilize these variable energy sources. The vanadium flow battery is the most mature of the LDES battery technologies. According to MIT (2022), the VFB is "unique for its ability to perform indefinitely with inexpensive operational maintenance."

To assure stable, long-term access to vanadium feedstocks for electrolyte manufacturing, the company is developing novel hydrometallurgical processes to extract vanadium from the titanomagnetite deposits at its wholly owned Lac Dore property near Chibougamau, Que.

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