Company’s CEO and President effective immediately. Mr. Bakker will remain a director of VanadiumCorp. The board has appointed, Paul McGuigan P.Geo, as Interim CEO. Mr. McGuigan is a Professional Geoscientist registered
VANCOUVER, BRITISH COLUMBIA, March 11th, 2022 - Van adiumCorp Resource Inc. (TSX VENTURE: "VRB")
(OTCBB:"APAFF") (FRANKFURT:"NWN") (the "Company") r eports today that it has removed Adriaan Bakker as the
Company’s CEO and President effective immediately. Mr. Bakker will remain a director of VanadiumCorp.
The board has appointed, Paul McGuigan P.Geo, as Interim CEO. Mr. McGuigan is a Professional Geoscientist registered
with the Association of Engineers and Geoscientists of the Province of BC, with 45 years of internatio nal experience in
mineral exploration, deposit evaluation, mine operations, and corporate governance.
The board will strike a committee to search for a new CEO with proven experience in the Province of Quebec and the ability
to develop the Company’s assets.
About VanadiumCorp
VanadiumCorp Resource Inc., is a mineral exploratio n company located in Vancouver, Canada, with 100% o wnership in
the Lac Doré Vanadium, Iron and Titanium Project, located 27 km east-southeast from the city of Chibougamau in Québec,
as well as the Iron T, VTM deposit in Matagami. Va nadiumCorp also owns 100% of a novel chemical proce ss, VEPT
(VanadiumCorp, Electrochem, Process Technology) inv ented by Dr. Francois Cardarelli, that consists of digesting
vanadiferous feedstocks into concentrated sulfuric acid. The technology addresses the recovery of vana dium pentoxide,
vanadyl sulfate, ferrous sulfate, titanium hydrolys ate, and silica from feedstocks such as vanadiferou s titano- magnetite,
iron ores and concentrates such as magnetite and he matite, vanadium industrial wastes such as BOF-slag s, and other
industrial by- products also containing vanadium.
On behalf of the board of VanadiumCorp:
Paul McGuigan
Interim Chief Executive Officer
Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note - The information in this news release includes certa in "forward-looking statements" All statements, oth er than statements of historical fact, included her ein including, without limitation, plans for and in tentions with respect to the company's properties, statements regarding intentions with
respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward-looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements
in that they reflect an assessment, based on certai n assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Minera l resources that are not mineral reserves do not ha ve demonstrated economic viability. Forward-
looking statements involve various risks and uncert ainties. There can be no assurance that such statem ents will prove to be accurate, and actual results and future events could differ materially from thos e anticipated in such statements. Important factors that could cause actual results to differ material ly
from VRB's expectations include the uncertainties i nvolving the need for additional financing to explo re and develop properties and availability of finan cing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserve s and
resources; the need for cooperation of government a gencies and local groups in the exploration, and de velopment of properties; and the need to obtain per mits and governmental approval. VRB's forward-looki ng statements reflect the beliefs, opinions and pro jections of management on the date the
statements are made. VRB assumes no obligation to u pdate the forward looking statements if management' s beliefs, opinions, projections, or other factors should they change.