"VRB") (the "Company") wishes to announce that it has applied to the TSX V enture Exchange (the “Exchange”) for acceptance to amend the terms of an aggregate of 1,932,857 common share purchase warrants (the “Warrants”) issued pursuant to a non-brokered private placement (the “Private

TSX-V: “VRB”

VANCOUVER, BRITISH COLUMBIA – January 24, 2017, Vanadiumcorp Resource Inc. (TSX-V: "VRB") (the "Company") wishes to announce that it has applied to the TSX Venture Exchange (the “Exchange”) for acceptance to amend the terms of an aggregate of 1,932,857 common share purchase warrants (the “Warrants”) issued pursuant to a non-brokered private placement (the “Private Placement”) which closed on February 7, 2013. The Warrants originally issued are exercisable into common shares in the capital of the Company at an exercise price of $0.14 per common share, with the Warrants expiring on February 7, 2017. These Warrants will be amended by extending the expiry date of the Warrants to February 7, 2018 and repriced to $0.07. In addition, each Warrant will have an accelerated expiry clause such that upon the Company’s shares trading at or above $0.09 for 10 consecutive trading days, Vanadiumcorp will give notice within 7 calendar days that the Warrants will expire 30 days from the date of providing such notice. No Warrants issued under the Private Placement have been exercised to date. The amendment to the terms of the Warrants is subject to Exchange approval.

.FOR MORE INFORMATION, CONTACT:

Adriaan Bakker, President and Chief Executive Officer - Direct: 604-385-4485

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ventur e Exchange) accepts responsibility for the adequacy or accuracy of this release.