Vanadiumcorp Closes Non-Brokered Flow-Through Private Placement Financing

(TheNewswire)

Vancouver, British Columbia –TheNewswire — 27 January 2025 – VanadiumCorp
Resource Inc. (TSX-V: VRB) (FSE: NWNA) VRBFF
("VanadiumCorp" or the "Company") is pleased to report that, further to its December 19 and 31,2024 news releases, it has closed its non-brokered flow-throughprivate placement financing (the "Financing") for aggregategross proceeds of $295,400.  

The Company has issued 1,846,250 $0.16 flow-throughunits (the "FT Units"), with each FT Unit consisting of one(1) flow-through common share of the Company and one (1)non-flow-through common share purchase warrant exercisable to purchaseone non-flow-through common share of the Company for $0.20 for threeyears from the date of issue.

The Company will use an amount equal to the grossproceeds received by the Company from the sale of the FT Units,pursuant to the provisions in the Income Tax Act (Canada), to incureligible “Canadian exploration expenses” that qualify as“flow-through mining expenditures” as both terms are defined inthe Income Tax Act (Canada) on or before December 31, 2025, and torenounce all the Qualifying Expenditures in favor of the subscribersof the FT Units effective December 31, 2024.

All securities issued pursuant to the Financing aresubject to a four-month hold from the date of issue.

The Company has paid cash finder’s fees totalling$18,648 and issued 116,550 $0.16 non-transferable broker warrants tothree finders in accordance with TSX Venture Exchange policies. 

Net proceeds from the Financing will be used forexploration and metallurgical testing on the Company's wholly-ownedmineral properties.

The Company’s previously announced non-brokeredprivate placement of up to 5,333,333 $0.15 non-flow-through units foraggregate gross proceeds of up to $800,000 has been cancelled.

About VanadiumCorp ResourceInc.

VanadiumCorp Resource Inc. is engaged in the productionof high-quality vanadium electrolytes for the expanding internationalmarket for long-duration Vanadium Flow Batteries (VFB). The Company'spilot plant facility is based in Val-des-Sources, Québec. The Companyis also advancing technologies for the production of the strategicV-Ti and potentially high-grade Fe located at its vanadiferoustitanomagnetite projects, including at its flagship Lac Doré depositnear Chibougamau, Québec. The successful deployment of thesetechnologies would enable stable, long-term access to the Company’sdeposits of critical metals, including vanadium feedstock for theproduction of electrolytes by the Company.

On behalf of the Board ofVanadiumCorp Resource Inc.

Ian Mallory

Chairman and CEO

ianm@vanadiumcorp.com

Phone: +1.514.416.1749

Company contact information:

Neither the TSX Venture Exchange nor its RegulationServices Provider (as defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S.PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESSRELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TOPURCHASE ANY SECURITIES DESCRIBED IN IT.

Forward-Looking Statements

This document may contain forward-looking statements(including "forward-looking information" within the meaningof applicable Canadian securities laws and "forward-lookingstatements" within the meaning of the US Private SecuritiesLitigation Reform Act of 1995) regarding, among other things,VanadiumCorp's business. and the environment in which it operates. Ingeneral, forward-looking statements can be identified by the use ofwords such as "anticipates", "expects" or"does not expect", "is expected","budget", "forecast", "estimates","forecasts", "intends", "anticipates" or"does not anticipate", or "believes", orvariations of such words and phrases or statements that certainactions, events or results "may", "could","would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorprelies on a number of assumptions and estimates to make theseforward-looking statements, including, without limitation, the abilityto acquire the necessary permits and authorizations to advance the LacDoré property to the production stage, the ability to add to existingresources at Lac Doré through drilling, the costs associated with thedevelopment and operation of its properties. These assumptions andestimates are made in light of forecasts and conditions that areconsidered relevant and reasonable based on available information andcurrent circumstances. A number of risk factors may cause actualresults, level of activity, performance or results of such explorationand/or mine development to differ materially from those expressed orimplied by such forward-looking statements, including, withoutlimitation, whether such discoveries will result in commerciallyviable quantities of such mineralized materials, the ability to modifyproject parameters as plans continue to be refined, the ability toexecute planned future exploration and drilling programs, the need foradditional financing to continue exploration and development efforts,changes in general economic, market and business conditions, and otherrisks outlined in VanadiumCorp's latest Annual Information Form underthe heading "Risk Factors" and in its other publicdocuments. Forward-looking statements are not guarantees of futureperformance and such information is inherently subject to known andunknown risks, uncertainties and other factors that are difficult topredict and that may be beyond VanadiumCorp's control. AlthoughVanadiumCorp has attempted to identify important risks and factorsthat could cause actual actions, events or results to differmaterially from those described in the forward-looking statements,there may be other factors and risks that cause actions, events orresults not to be as anticipated, estimated or intended. Accordingly,undue reliance should not be placed on these forward-lookingstatements. In addition, all forward-looking statements in this pressrelease are made as of the date of this press release. VanadiumCorpdisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by applicablesecurities laws.

The forward-looking statements contained herein areexpressly qualified by this disclaimer.

Copyright (c) 2025 TheNewswire - All rights reserved.