Production Has Commenced from Vanadiumcorp'S First Electrolyte Plant
PRODUCTION HAS COMMENCED FROM VANADIUMCORP'S FIRST ELECTROLYTE PLANT
Vancouver, British Columbia – April 24, 2024 – VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC:
VRBFF) ("VanadiumCorp" or the "Company) announces production has commenced from VanadiumCorp Plant No. 1,
after four weeks of process optimization and commissioning. With the initial production of electrolytes,
VanadiumCorp is on track to produce up to 350,000 litres annually, sufficient to store some 6.8 MWh of electrical
energy in VFB installations annually.
Production is a key milestone for the Company. Plant No. 1 will provide electrolytes to develop our initial customer
base. VanadiumCorp will enter midstream into the Vanadium Flow Battery (VFB) supply chain to produce vanadium
electrolytes for Original Equipment Manufacturers (OEMs). The Company welcomes inquiries from those VFB OEMs
seeking a reliable, Made-in-Canada source of high-purity vanadium electrolytes.
The Company’s Plant No. 1 is located in Val-des-Sources, Québec, at the Carrefour d’Innovation sur les Matériaux de
la MRC des Sources (CIMMS). The Company's website (www.vanadiumcorp.com) displays photographs of the
completed plant.
Paul McGuigan, P. Geo., CEO of the Company, stated:
"Our team in Québec is to be commended on achieving production 12 months after the project decision was
made. Collaboration with C-Tech Innovation Ltd. has resulted in an optimum production plant. Now, the
Company can focus on marketing and our future expansion of electrolyte production in Québec. Meanwhile,
our field crews are poised to mobilize to the Lac Doré project to continue with fieldwork aimed at the mining
and metallurgy of the exceptional V-Ti-Fe deposit."
About VanadiumCorp Resource Inc.
A remarkable transformation of the global energy landscape is underway as we shift toward renewable energy sources.
Solar and wind energy sources are forecasted to dominate power generation. Yet, vast amounts of long -duration
energy storage (LDES) are vital to time-shift and stabilize these variable energy sources. The Vanadium Flow Battery is
the most mature of the LDES battery technologies. According to MIT (2022), the flow battery "technology platform can
incorporate a wide array of chemistries, among which the most developed at present is the VFB, which is unique for its
ability to perform indefinitely with inexpensive operational maintenance."
The Company's initial manufacturing facility is in Val-des-Sources, Québec. To assure stable, long-term access to
vanadium feedstocks for electrolyte manufacturing, the Company is developing novel hydrometallurgical processes to
extract vanadium from the titanomagnetite deposits at its wholly owned Lac Doré property near Chibougamau,
Québec.
The Company's electrolyte plant will also test the quality of the anticipated outputs from a Lac Doré pilot plant and
reprocess electrolytes as needed. We are currently scoping the expansion of production to 4 million litres of electrolytes
per year.
On behalf of the Board of VanadiumCorp Resource Inc.:
Paul McGuigan, P.Geo.
Director, Chief Executive Officer
Direct: +1.604.970.3278
2
Company Contact Information:
Canada
Suite 303 - 5455 West Boulevard
Vancouver, British Columbia V6M 3W5
Canada
Germany
Omniturm, 1st Floor, Große Gallusstraße 16-18
Frankfurt am Main, 60312
Germany
3 rue de Boisé,
Marieville, Québec J3M 1S7
Canada
Email: [email protected] Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within the meaning
of applicable Canadian securities laws and "forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995) regarding, among other things, VanadiumCorp's business. and the
environment in which it operates. In general, forward-looking statements can be identified by the use of words such
as "anticipates", "expects" or "does not expect", "is expected", "budget", "forecast", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would", "could" or "will be taken", "occur" or "will be
achieved". VanadiumCorp relies on a number of assumptions and estimates to make these forward-looking
statements, including, without limitation, the ability to acquire the necessary permits and authorizations to advance
the Lac Doré property to the production stage, the ability to add to existing resources at Lac Doré through drilling, the
costs associated with the development and operation of its properties. These assumptions and estimates are made in
light of forecasts and conditions that are considered relevant and reasonable based on available information and
current circumstances. A number of risk factors may cause actual results, level of activity, performance or results of
such exploration and/or mine development to differ materially from those expressed or implied by such forward-
looking statements, including, without limitation, whether such discoveries will result in commercially viable
quantities of such mineralized materials, the ability to modify project parameters as plans continue to be refined, the
ability to execute planned future exploration and drilling programs, the need for additional financing to continue
exploration and development efforts, changes in general economic, market and business conditions, and other risks
outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its other public
documents. Forward-looking statements are not guarantees of future performance and such information is
inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and that
may be beyond VanadiumCorp's control. Although VanadiumCorp has attempted to identify important risks and
factors that could cause actual actions, events or results to differ materially from those described in the forward-
looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated,
estimated or intended. Accordingly, undue reliance should not be placed on these forward-looking statements. In
addition, all forward-looking statements in this press release are made as of the date of this press release.
VanadiumCorp disclaims any intention or obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.