Mr. Kristien Davenport reports

VANADIUMCORP RESOURCE FILES FOR FINAL APPROVAL, CLOSES PRIVATE PLACEMENT FINANCING

Vanadiumcorp Resource Inc., further to its news releases dated April 6, 2026, and April 15, 2026, has filed documents with the TSX Venture Exchange seeking final approval of its previously announced non-brokered private placement financing.

Pursuant to the financing, the company has issued a total of 5,291,666 12-cent units in two tranches, for aggregate gross proceeds of $635,000. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant being exercisable at a price of 22 cents per share for a period of two years from the date of issue, subject to the right of the company to accelerate the exercise period to 30 days if, after the expiry of the four-month hold, shares of the company close at or above 50 cents for 10 consecutive trading days.

The financing remains subject to final acceptance by the TSX Venture Exchange. All securities issued pursuant to the financing will be subject to a statutory four-month hold period from the date of issuance, in accordance with applicable securities laws. Proceeds from the financing are intended to be used for working capital and general corporate purposes.

Two investors became insiders of the company as a result of their participation in the financing. Such participation constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects that such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to applicable exemptions thereunder, including the exemption for transactions not exceeding 25 per cent of the company's market capitalization.

About Vanadiumcorp Resource Inc.

Vanadiumcorp is a Canadian critical metals exploration company that holds a 100-per-cent interest in two mineral properties in Quebec: the Iron-T project and its flagship Lac Dore project. In addition to advancing its mineral assets, the company is developing its proprietary Vanadiumcorp electrochem process technology (VEPT), which is intended to extract vanadium, titanium and potentially iron from vanadiferous titanomagnetite resources.

The company's strategy combines resource development with technology innovation aimed at supporting the supply of vanadium for applications such as vanadium flow battery electrolyte used in large-scale energy storage systems.

We seek Safe Harbor.