VanadiumCorp Completes $336,500 Private Placement

TSX-V: “VRB”

VANADIUMCORP COMPLETES $336,500 PRIVATE PLACEMENT

VANCOUVER, BRITISH COLUMBIA – August 18, 2016, – Vanadiumcorp Resource Inc. (TSX- V: “VRB”) (the "Company") is pleased to announce it has closed and over-subscribed its nonbrokered private placement announced on August 4, 2016. The private placement represents 6,730,000 units at a price of $.05 CDN per unit for a total of $336,500 CDN. Each unit consists of one common share of the issuer and one share purchase warrant. Each full warrant will entitle the holder to acquire one common share of the issuer at a price of $.05 CDN for a period of 36 months following the closing date of the offering. 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. A cash fee equal to 8 per cent was paid as a finder's fee in respect of a portion of the proceeds raised.

Proceeds from the placement will be used for The Company’s Lac Dore preliminary economic assessment (PEA) and working capital.

For further information, contact Adriaan Bakker, President and Chief Executive Officer at 604- 385-4485 or [email protected].

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.

VanadiumCorp Resource Inc. Suite #711 675 West Hastings Street, Vancouver, BC, V6B 1N2, Canada Direct:604.385.4489 Facsimile:604.685.3764 Website www.vanadiumcorp.com