Mr. Gilles Dupuis reports

VANADIUMCORP ANNOUNCES SHARE CONSOLIDATION, CANCELS FINANCING

Vanadiumcorp Resource Inc. has approved the consolidation of all of the issued and outstanding shares of the company on the basis of one new common share for every 10 existing common shares, subject to TSX Venture Exchange approval.

It is anticipated that the consolidation will reduce the number of presently issued and outstanding shares of the company from 83,181,843 shares to approximately 8,318,184 postconsolidation shares, subject to adjustment for rounding. The company believes that the consolidation will put it in a better position to attract additional capital and assist in executing its business plans. The consolidation is subject to the approval of the TSX-V.

The company does not intend to change its name or its current trading symbol in connection with the consolidation. The effective date of the consolidation will be announced in a subsequent news release.

No fractional postconsolidation shares will be issued as a result of the consolidation. shareholders who would otherwise be entitled to receive a fraction of a postconsolidation share will be rounded up to the nearest whole number of postconsolidation shares and no cash consideration will be paid in respect of fractional shares.

The company will provide a further update once it has received all applicable approvals and has set an effective date for the consolidation.

As a result of the consolidation, the equity financing of the company that was announced on Sept. 4, 2024, has been cancelled.

About Vanadiumcorp Resource Inc.

Vanadiumcorp Resource is engaged in the production of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium flow batteries (VFB). The company's pilot plant facility is based in Val-des-Sources, Que. The company is also advancing technologies for the production of the strategic V-Ti and potentially high-grade Fe located at its vanadiferous titanomagnetite projects, including at its flagship Lac Dore deposit near Chibougamau, Que. The successful deployment of these technologies would enable stable, long-term access to the company's deposits of critical metals, including vanadium feedstock for the production of electrolytes, by the company.

We seek Safe Harbor.