VANADIUMCORP RECEIVES CRITICAL METALS FINANCING FROM PRIMA QUEBEC Vancouver, British Columbia and Val-des-Sources, Québec
VANADIUMCORP RECEIVES CRITICAL METALS FINANCING FROM PRIMA QUEBEC
Vancouver, British Columbia and Val-des-Sources, Québec – July 31, 2023 – VanadiumCorp Resource Inc.
(TSX-V: VRB) (FSE: NWNA) (OTCBB: VRBFF) (“VanadiumCorp” or the "Company”) is pleased to announce
that the Company has received a grant of $500,000 to support the development of its vanadium
electrolyte production plant in Val-des-Sources, Québec. The grant from PRIMA will help ensure that the
Company’s production process will be state-of-the-art and will contribute to an environmentally friendly
circular economy.
The financial assistance comes from the support program for research and development for the circular
economy applied to the sectors of critical and strategic minerals of the Ministry of Natural Resources and
Forests of Québec, which is administered by PRIMA Québec.
The Company’s new production facility will operate in partnership with Carrefour d'innovation sur les
matériaux de la MRC des Sources (CIMMS), and is expected to be in production in early 2024. It will
produce high-quality vanadium electrolyte for use in vanadium redox flow batteries (VRFB). VFRBs are the
new generation of long-duration batteries that are currently being deployed around the world to support
the storage of renewable energy.
Gilles Dupuis, P. Eng., the Chief Operating Officer of the Company, said “This assistance is another
demonstration of the tremendous leadership of the Government of Québec in supporting the
development of new battery technologies and manufacturing. This will help put vanadium from Québec
on the world’s green energy map.”
“Vanadium electrolyte produced in Québec will become a key component in the international battery
industry. Supporting this development in Québec will help diversify our industrial base and contribute to
the establishment of a circular economy”, said Marie-Pierre Ippersiel, President and CEO of PRIMA
Québec.
About PRIMA Québec
PRIMA Québec, the Advanced Materials Research and Innovation Hub, supports and facilitates the
advanced materials ecosystem by promoting collaborative innovation for the economic development of
Quebec. It is the privileged catalyst between the industrial and research communities. www.prima.ca
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. will produce a reliable stream of high-quality vanadium electrolytes for the
expanding international market for long-duration vanadium redox flow batteries (VRFB). The Company's
first electrolyte production facility is based in Val-des-Sources, Québec. Stable, long-term access to
vanadium feedstock for the electrolytes is assured, success-contingent on developing our wholly-owned
vanadium-titanium-iron mineral deposits, including our flagship Lac Doré deposit near Chibougamau,
Québec. The Company’s electrolyte plant will also be used to test the quality of Lac Doré pilot plant
outputs and to reprocess electrolytes.
An introduction to the Company by our Executive Chairman, Ian Mallory, can be viewed as a Greenshoe
Media Group video at: https://www.youtube.com/watch?v=-gjU26_osDc
On behalf of the Board of VanadiumCorp Resource Inc.
Paul McGuigan, P.Geo.
CEO
Company addresses:
Suite 303 - 5455 West Boulevard
Vancouver, British Columbia V6M 3W5
Canada
3 rue de Boisé,
Marieville, Québec J3M 1S7
Canada
Email: [email protected]
Company website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION
TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within
the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning
of the US Private Securities Litigation Reform Act of 1995) regarding, among other things, VanadiumCorp's
business. and the environment in which it operates. In general, forward-looking statements can be
identified by the use of words such as "anticipates", "expects" or "does not expect", "is expected",
"budget", "forecast", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that certain actions, events or results
"may", "could", "would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorp relies on
a number of assumptions and estimates to make these forward-looking statements, including, without
limitation, the ability to acquire the necessary permits and authorizations to advance the Lac Doré
property to the production stage, the ability to add to existing resources at Lac Doré through drilling, the
costs associated with the development and operation of its properties. These assumptions and estimates
are made in light of forecasts and conditions that are considered relevant and reasonable based on
available information and current circumstances. A number of risk factors may cause actual results, level
of activity, performance or results of such exploration and/or mine development to differ materially from
those expressed or implied by such forward-looking statements, including, without limitation, whether
such discoveries will result in commercially viable quantities of such mineralized materials, the ability to
modify project parameters as plans continue to be refined, the ability to execute planned future
exploration and drilling programs, the need for additional financing to continue exploration and
development efforts, changes in general economic, market and business conditions, and other risks
outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its
other public documents. Forward-looking statements are not guarantees of future performance and such
information is inherently subject to known and unknown risks, uncertainties and other factors that are
difficult to predict and that may be beyond VanadiumCorp's control. Although VanadiumCorp has
attempted to identify important risks and factors that could cause actual actions, events or results to
differ materially from those described in the forward-looking statements, there may be other factors and
risks that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly,
undue reliance should not be placed on these forward-looking statements. In addition, all forward-looking
statements in this press release are made as of the date of this press release. VanadiumCorp disclaims any
intention or obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.
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