Mr. Ian Mallory reports

VANADIUMCORP ANNOUNCES NEW BOARD OF DIRECTORS AND MANAGEMENT TEAM

Vanadiumcorp Resource Inc. shareholders at the annual general and special meeting of shareholders held on July 2, 2024, elected a new board of directors of the company. Shareholders overwhelmingly voted in favour of six candidates: Pierre Alarie, Gilles Dupuis, Ian Graham, Ian Mallory, Christian Paradis and Stephen Pearce. These six directors were endorsed by the concerned shareholder in the dissident proxy circular dated June 11, 2024, issued in respect of the AGM.

Following the AGM, the board of directors appointed the following officers of the company for the coming year:

Chairman and chief executive officer:  Ian Mallory

President:  Ian Graham

Chief operating officer:  Gilles Dupuis

CEO, VanadiumCorp GmbH:  Peter Besenovsky

Corporate secretary:  Stephen Pearce

Mr. Mallory, chairman and CEO, stated: "The strong new board and management team at Vanadiumcorp will significantly enhance the execution of the company's initiatives in the production and international sale of vanadium electrolyte and advancement of our strategic mineral resource at Lac Dore, Que. I look forward to working with this dynamic, professional team to produce value for both our customers and shareholders."

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource produces a stream of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium redox flow batteries (VRFB). The company's initial manufacturing facility is based in Val-des-Sources, Que. Stable, long-term access to vanadium feedstock for the production of electrolytes is assured, success-contingent on developing the company's wholly owned vanadium-titanium-iron mineral deposits, including its flagship Lac Dore deposit near Chibougamau, Que. The company's electrolyte plant will also be used to test the quality of Lac Dore pilot plant outputs and to reprocess electrolytes.

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