Mr. Ian Mallory reports

VANADIUMCORP ANNOUNCES SHARE CONSOLIDATION EFFECTIVE DATE

Effective Friday, Oct. 25, 2024, the common shares of Vanadiumcorp Resource Inc. will commence trading on the TSX Venture Exchange on a consolidated basis of one postconsolidation share for every 10 preconsolidation shares.

As stated in the company's news release dated Oct. 4, 2024, the board of directors believes that the consolidation is necessary to better position the company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the consolidation.

The company currently has 83,181,843 common shares issued and outstanding. Following the consolidation, the company will have approximately 8,318,185 common shares issued and outstanding, and will continue to trade on the TSX-V under the existing stock symbol VRB.

The exercise or conversion price and the number of common shares issuable under any of the company's outstanding warrants and stock options will be proportionately adjusted to reflect the consolidation in accordance with their respective terms. No fractional common shares will be issued pursuant to the consolidation, any fractional common shares that would otherwise be issued will be up to the nearest whole number and no cash consideration will be paid in respect of fractional shares.

About Vanadiumcorp Resource Inc.

Vanadiumcorp is engaged in the production of high-quality vanadium electrolytes for the expanding international market for long-duration vanadium flow batteries. 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 vanadium-titanium and potentially high-grade iron 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.