VANADIUMCORP SECURES A QUÉBEC ELECTROLYTE MANUFACTURING SITE Vancouver, British Columbia and Val-des-Sources, Québec
Suite 303-5455 West Boulevard, Vancouver, British Columbia V6M 3W5 Canada
3 rue de Boisé, Marieville, Québec J3M 1S7 Canada
Email: [email protected] | Website: www.vanadiumcorp.com
VANADIUMCORP SECURES A QUÉBEC ELECTROLYTE MANUFACTURING SITE
Vancouver, British Columbia and Val-des-Sources, Québec – March 29, 2023 – VanadiumCorp Resource Inc.
(TSX-V: VRB) (OTCBB: APAFF) (FSE: NWN) (the "Company") is pleased to announce the attainment of significant
milestones in the establishment of the Company's test facility for manufacturing vanadium electrolytes. Site
selection is complete, and equipment procurement has begun. The Company has secured the primary
electrolyte manufacturing equipment from leading international process equipment suppliers.
The electrolyte facility will be located at the Carrefour d’Innovation sur les matériaux de la MRC des Sources
(CIMMS), in Val-des-Sources, Québec. CIMMS provides technical support services to innovative mining, metals
and eco-materials companies active in Québec. The Company and CIMMS have signed a cooperation agreement
to produce over 2 million litres/year of high-quality vanadium electrolyte for use in Vanadium Redox Flow
Batteries (VRFB). The Company expects production to begin in Q4 2023. The initial test facility is sufficient to
provision 6.2 MWh of VRFB storage per year.
Contingent on sales, potential production at the CIMMS site can expand incrementally according to market
needs using our modular production-line design, each module with a capacity of 4 million litres/year, each
providing about 80 MWh of VRFB storage per year.
VanadiumCorp's CEO Paul McGuigan, P. Geo. stated, "We are delighted that our electrolyte facility is now taking
shape. VanadiumCorp will be able to plan production for the expanding global market for this key ingredient in
long-duration vanadium redox flow batteries. We look forward to a very positive partnership with CIMMS."
Chairman of CIMMS François Gouin said “It is with enthusiasm that CIMMS begins collaboration with
VanadiumCorp within the framework of the new agreement signed recently.”
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc. seeks to 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 initial
manufacturing facility is based in Val-des-Sources, Québec. Stable, long-term access to vanadium feedstock for
the electrolytes is assured, contingent on successful development of our wholly-owned vanadium-titanium-iron
mineral deposits. Our flagship project is the Lac Doré property near Chibougamau, Québec.
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
VanadiumCorp Resource Inc.
Paul McGuigan, P. Geo.
Director, Chief Executive Officer
Company website: www.vanadiumcorp.com
Page | 2
Suite 303-5455 West Boulevard, Vancouver, British Columbia V6M 3W5 Canada
3 rue de Boisé, Marieville, Québec J3M 1S7 Canada
Email: [email protected] | Website: www.vanadiumcorp.com
For more information, contact Mr. McGuigan, or:
Gilles Dupuis, P.Eng.
Director, Chief Operating Officer
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.
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's 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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