VanadiumCorp Closes $265,121 Private Placement 1st Tranche

VanadiumCorp Closes $265,121 Private Placement

1st Tranche

VANCOUVER, BRITISH COLUMBIA – April 19 th , 2017 – VanadiumCorp Resource Inc. (TSX-V:

“VRB”) (the "Company") is pleased to announce it ha s closed the 1 st tranche of the over subscribed

non-brokered private placement of 4,418,699 units at a price of CDN $0.06 cents per unit for a total o f

CDN $265,121.94. Each unit shall consist of one com mon share of the issuer and one full share

purchase warrant. Each full warrant will entitle th e holder to acquire one common share of the issuer

at a price CDN $0.10 for a period of 24 months foll owing the closing date of the offering. All securit ies

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 b e utilized for advancing the patent pending

Vanadiumcorp-Electrochem process technology, trial Vanadiumcorp Electrolyte TM and electrolytic

iron production and operating capital. No fees or commissions were paid in association wi th the

private placement.

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”