VRB.V · 2018-01-29 12:00:00

PEA Technical Report Review

Technical Reports (NI 43-101) Economic Studies

VANCOUVER, BRITISH COLUMBIA – January 29th, 2018 VanadiumCorp Resource Inc. (TSX “VRB”) (the

"Company") announces the Lac Dore PEA filed on SEDAR dated December 28 th , 2017 is currently under

review by the BCSC to clarify disclosure pertaining to qualified persons and market data. As such, th e

current economic analysis and mineral resources are not supported by a compliant NI 43-101 technical

report, contrary to NI 43-101, and that the estimates should not be relied on until they have been verified

and supported by a technical report. The Company wi ll amend and refile the PEA once further

clarification is complete.

For more information, contact Vanadiumcorp:

Adriaan Bakker, President, CEO

By phone: 604-385-4489

Website: www.vanadiumcorp.com

On behalf of the board:

Adriaan Bakker,

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the p olicies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

TSX -V: “VRB”