Vanadiumcorp Completes 1ST Tranche of Private Placement

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VANADIUMCORP COMPLETES 1ST TRANCHE OF PRIVATE PLACEMENT

VANCOUVER, BRITISH COLUMBIA , October 25, 2019 – VanadiumCorp Resource Inc. (TSX -V: “VRB”) (the

“Company”) is pleased to announce that further to its news release dated October 21, 2019, it has completed

the first tranche of its non-brokered private placement . Pursuant to the first tranche, the Company issued

12,138,461 flow-through common shares at a price of $0 .065 for gross proceeds of $789,000. Proceeds will be

utilized for advancing the 100% owned Lac Dore Vanadium Project in Chibougamau, Quebec , Canada and for

general working capital.

The shares issued are subject to resale restrictions expiring on February 24, 2020. In connection with the first

tranche, the Company paid a total of $63,120 in cash as finder’s fees.

The Company is proceeding with the second tranche consisting of 7,000,000 units at a price of $0.05 per unit.

VanadiumCorp Resource Inc. 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 is focused on co mmercializing the most efficient and sustainable recovery method to produce

vanadium with jointly developed process technology. VanadiumCorp also holds a significant vanadium-

titanium-iron bearing resource base in mining friendly Quebec, Canada including the 100% owned Lac Dore

Project adjacent to Blackrock Metals Inc. and the 100% owned Iron -T Project 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.

TSX-V: “VRB”