VanadiumCorp Resource Inc. is pleased to report the results of a Mineral Resource Estimate (MRE) for the Company's 100% owned Lac Doré Vanadium Project.
VANCOUVER, BRITISH COLUMBIA – October 28th, 2015 – Vanadiumcorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce the appointment of Mr. Todd Richardson, to the Company’s advisory board as Chief Technical Advisor. Mr. Richardson is a chemical and process engineer with an extensive background in global vanadium operations management and technical services. Working primarily in the USA and Australia, his experience covers all phases of vanadium plant operation, from process design through commissioning and ramp up. With over 15 years in various management roles in vanadium operations, including his most recent role as General Manager Operations for Midwest Vanadium PL, he has demonstrated a commitment to the success of his team, strong financial acumen, and an ability to successfully lead the most challenging vanadium projects.
Adriaan Bakker commented, “Mr. Richardson is one of the world’s most experienced and highly regarded professionals in the vanadium industry. Process technology creates significant opportunity to target metallurgical grade products such as battery electrolyte, pentoxide for steel alloys and catalyst for the automobile industry. Old processing technology has crippled existing producers as the price is currently low. The price of vanadium is volatile as most vanadium producers sell their future production to the cyclical steel industries. Vanadium makes the best batteries for grid storage applications. Stable supply and price is necessary for VRB batteries as vanadium electrolyte is half the cost of the battery and availability is scarce.”
Mr. Richardson states, “I am pleased to join the team of VanadiumCorp and am confident I will create value in advancing The Company’s vanadium projects. In vanadium batteries, the elimination of impurities in final vanadium products is critical, whereas steel producers have a much less stringent threshold for purity in commodity grade vanadium oxides, given the small amount of vanadium added to steel. Therefore, it is critical to understand the relevance of both supply and purity as the key advantage to create a new exclusive market for North America. I am facilitating the process analysis and design for a North American focused market study and aspects of the preliminary economic study currently underway. I am looking forward to a bright future with VanadiumCorp.”
About VanadiumCorp Resource Inc.
VanadiumCorp is a mining company with a vision to become the only primary producer of vanadium in North America. The current growth strategy is focused on development of its 100% owned Lac Dore project in mining friendly Quebec, Canada. Due to its remarkable properties, the traditional use of Vanadium is in light weight high-strength alloy steels as just a fraction of vanadium can double the strength of steel. Producers can build superior products with less steel saving material costs and resources. Vanadium has also been dubbed “the electric metal” for its bright future in energy storage and green technology. VanadiumCorp is committed to the creation of a “made in North America” vanadium industry and becoming a key supplier in the approaching energy storage revolution.
On behalf of the board of VanadiumCorp:
Adriaan Bakker, President and Chief Executive Officer
For more information, contact VanadiumCorp:
John Hewlett, Director, Business Development
By phone: 604-560-8251
By email: firstname.lastname@example.org
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.
Cautionary Note Regarding Forward-Looking Statements
The information in this news release includes certain “forward-looking statements” All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company’s properties, statements regarding intentions with respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning Mineral Reserves and Mineral Resources are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from VRB‘s expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and local groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. VRB‘s forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. VRB assumes no obligation to update the forward looking statements if management’s beliefs, opinions, projections, or other factors should they change.