Mr. Ian Mallory reports

VANADIUMCORP CANCELS FINANCING ANNOUNCED IN JUNE 2024

Vanadiumcorp Resource Inc. is not proceeding with the non-brokered private placement financing of flow-through units and non-flow-through units of aggregate proceeds up to $1-million that was announced by the company in its news releases dated May 29, 2024, and June 4, 2024. Any proposed investor in the financing who deposited funds pending closing of the financing will receive a return of their funds forthwith.

The new board of directors and management team at Vanadiumcorp that was put in place at the annual general and special meeting of shareholders held on July 2, 2024, is reviewing the current financial condition and requirements of the company. A new financing, on revised terms, is expected to be announced within the next week.

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 the company's 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.

We seek Safe Harbor.