Vanadiumcorp Arranges $500,000 Million Private Placement

TSX-V: “VRB”

NOT FOR RELEASE IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES

VANADIUMCORP ARRANGES $500,000 MILLION PRIVATE

PLACEMENT

VANCOUVER, BRITISH COLUMBIA , November 13, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) ( t h e

“Company”) has arranged a non-brokered private placement of up to 10,000,000 non flow-through units at a

price of $0.05 cents for gross proceeds of up to $500,000 CDN E ach unit will consist of one common share of

the Company and one share purchase warrant. Each share purchase warrant can be exercised at a price of $0.10

for a period of 24 months from the date of closing in exchange for one common share in Company. All securities

issued pursuant to the placement will be subject to a hold period of four months and one day from the date of

closing. Proceeds from the placement will be utilized for general working capital.

The private placement is subject to approval by the TSX Venture Exchange.

VanadiumCorp Resource Inc. plans to develop it’s 100% owned Lac Doré vanadium-titanium-iro n flagship

project adjacent to Blackrock Metals Inc. property, which is cu rrently permitted to build a mine and mill to

produce a vanadium-rich magnetite concentrate product. Vanadium Corp provides investors with leverage to

vanadium, titanium and iron in the low political risk and geopo litically stable jurisdiction of Quebec, Canada.

Superior vanadium grades, size and well-developed infrastructure with the nearby mining town of Chibougamau

is a valuable strategic position to take advantage of the strong vanadium market driven by supply shortages and

growing demand from the Chinese steel industry, as well as the fast-emerging use of vanadium in energy

storage. Nearby infrastructure includes a 161kV Hydro Power at approximately $.02 kWh, CN Rail Line, available

water, local airport, and a mining community of over 7,000 people in the city of Chibougamau. The Company is

also developing it’s jointly owned “VanadiumCorp-Electrochem Pr o c e s s i n g T e c h n o l o g y ” “ V E P T ” , a n o v e l

chemical process invented by Dr. Francois Cardarelli, that addr esses the recovery of vanadium, iron, titanium,

and silica from feedstocks such as vanadiferous titano-magnetit e, iron ores and other industrial by-products

containing vanadium.

On behalf of the board of VanadiumCorp:

Adriaan Bakker

President and Chief Executive Officer

For more information:

Adriaan Bakker,

President and CEO, VanadiumCorp Resource Inc.

(TSX-V: “VRB”)

By phone: 1-604-385-4489

By email: [email protected]

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.