Vanadiumcorp Announces Completion of Share Consolidation

Suite 400–1505 West 2nd Ave., Vancouver, British Columbia V6H 3Y4

Direct: 604.385.4489 | Facsimile: 604.604.4486 | Website: www.vanadiumcorp.com

VANADIUMCORP ANNOUNCES COMPLETION OF SHARE CONSOLIDATION

Vancouver, British Columbia – April 13, 2022 – VanadiumCorp Resources Inc. (TSX -V: VRB) (OTCBB:

APAFF) (FSE: NWN) (the “Company”) announces that further to its news release of March 24, 2022, the

Company’s intention to consolidate its common shares (“Shares”) on a 10 -old-for-1-new share basis (the

“Consolidation”) has been accepted by the TSX Venture Exchange.

SHARE CONSOLIDATION

Prior to implementing the Consolidation, the Company had 319,251,120 Shares issued and outstanding and

immediately after implementing the Consolidation, the Company will have 31,925,112 Shares issued and

outstanding. No fractional shares will be issued as a result of the Consolidation. Each fractional share

following the Consolidation that is less than one -half of a share will be cancelled and each fractional share

that is at least one-half of a share will be rounded up to the nearest whole share. The exercise price and the

number of Shares issuable under any of the Company's outstanding stock options and convertible

instruments, as applicable, will be proportionately adjusted in connection with the Consolidation.

Effective at the opening of trading on April 18, 2022, the pre -Consolidation Shares in the name of

VanadiumCorp Resource Inc. will be delisted and the post -Consolidation Shares will commence trading

under the same name VanadiumCorp Resource Inc. and the same trading symbol of “VRB”.

Holders of Shares who hold un -certificated Shares (including Shares held through a brokerage account

and/or not represented by a physical share certificate) will have their holdings electronically adjusted by

the Company's transfer agent or by their brokerage firms, banks, trust , or other nominees. Such holders do

not need to take any additional actions to exchange their pre -Consolidation Shares for post -Consolidation

Shares. Letters of transmittal have been mailed to all registered shareholders holding share certificates with

instructions on how to exchange existing share certificates for new share certificates. A letter of transmittal

will be available on SEDAR.

The Company's new CUSIP number is 921428207 and its new ISIN number is CA9214282076.

OTHER BUSINESS

Upon completion of the Consolidation, the Company announces a renewed focus on mineral exploration

and metallurgical process improvements for 2022 and 2023. Last year saw the USA and South Africa grant

Patents for our 100% owned hydrometallurgical proc ess, VEPT (VanadiumCorp -Electrochem-Process-

Technology). Applications are expedited in other jurisdictions but the patent granted by the USA is very

favourable. Vanadium and titanium have gained recognition as critical metals in all Western economies.

Importantly, the IMF working papers conclude (IMF Dec. 8, 2021) that the “clean energy transition needed

to avoid the worst effects of climate change could unleash unprecedented metals demand in coming

decades.” Vanadium, graphite and cobalt are forecasted to be the most under -supplied in relation to

demand over the next 30 years, in a Net Zero Emissions economy.

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Suite 208-2383 King George Boulevard, Surrey, BC, V4A 5A4

Direct: 604.385.4489 | Facsimile: 604.604.4486 | Website: www.vanadiumcorp.com

The key to the adequate supply of both vanadium and titanium critical metals will be the move to alternate

extractive technologies such as the Company’s VEPT hydrometallurgical process. To that end, the Company

plans to finance and execute a multifaceted bulk sampling , mineralogy, and hydrometallurgical testing

program on its Lac Dore and Iron T deposits. The aim of the program is to improve the yields and quality of

the outputs from its VEPT process and to investigate cost-saving measures, such as the recycling process

acids. To conserve cash and improve the impact of this test work, the Company is actively seeking support

and collaboration with other exploration companies, academia, and government development initiatives.

ON BEHALF OF THE BOARD OF VANADIUMCORP.

Paul McGuigan, P. Geo

Director, Interim Chief Executive Officer

Website: www.vanadiumcorp.com

About VanadiumCorp

VanadiumCorp Resource Inc. is a mineral exploration company located in Vancouver, Canada, with 100%

ownership of two critical metals projects containing Vanadium, Titanium, and Iron: the flagship Lac Dore

property, located 27 km east -southeast from the city of Chibougamau in Quebec, and the Iron T project

near Matagami.

VanadiumCorp also owns 100% of a novel hydrometallurgical process, VEPT (VanadiumCorp, Electrochem,

Process technology) invented by Dr. Francois Cardarelli, that consists o f digesting vanadiferous feedstocks

into concentrated sulfuric acid. The technology addresses the recovery of vanadium pentoxide, vanadyl

sulphate, ferrous sulphate, titanium hydrolysate, and silica from feedstocks such as vanadiferous t itano-

magnetite, iron ores, and concentrates such as magnetite and hematite, vanadium industrial wastes such as

BOF-slags, and other industrial by-products also containing vanadium.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defi ned in the

policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.