Vanadiumcorp Arranges $98K Private Placement with Sprott Asset Management

TSX-V: “VRB”

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

VANADIUMCORP ARRANGES $98K PRIVATE PLACEMENT WITH

SPROTT ASSET MANAGEMENT

VANCOUVER, BRITISH COLUMBIA , August 12 , 20 20 – VanadiumCorp Resource Inc. (TSX -V: “VRB”) (the

“Company”) has arranged a non-brokered private placement of up to 1,400,000 flow-through common shares

at a price of $0.07 cents per share for total proceeds of up to $98,000. 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 advancing the 100% owned Lac Dore Vanadium Project in Chibougamau,

Quebec, Canada.

The private placement is subject to approval by the TSX Venture Exchange. The Company may a pay finders

fees in connection with the private placement in accordance with the policies of the TSX Venture Exchange.

VanadiumCorp is an integrated technology and mining company focused on developing the exclusive supply

chain for vanadium -based energy storage and emerging technologies that utilize vanadium. VanadiumCorp

owns 100% of two of the most coveted, undeveloped primary vanadium -rich magnetite resources rich in iron

and titanium. The company has also co -developed process technology that can unlock maximum metal value

with renewable energy from most vanadium bearing feedstocks as well as flow battery technology that can

utilize vanadium indefinitely. VanadiumC orp’s key vanadium mining assets are located in mining -friendly

Quebec, Canada including the 100% owned Lac Doré Project adjacent to Blackrock Mining Inc. and the 100%

owned Iron-T Project located near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.

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.