Hydrometallurgical Testing Update

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VANCOUVER, BRITISH COLUMBIA, November 9, 2021 – VanadiumCorp Resource Inc. (TSX VENTURE:”VRB”) (OTCQB:”VRBFF”) (FRANKFURT:”NWN”) announced on May 10, 2021, starting a joint hydrometallurgical testing program on titanomagnetite concentrate from the Mustavaara deposit of Strategic Resources Inc. (TSXV: SR). A sulphuric acid-based method of extracting vanadium, iron, and titanium was tested. Although the process was successful in recovering all three metals in varying quantities, the vanadium recoveries and the sulphuric acid consumption on the initial test work would not allow the process to be commercially viable in Finland. Further test work and refinement may change these results; however, no additional test work is currently planned.

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.(TSXV: VRB) (OTC: VRBFF) (FSE: NWN)
By phone: 604-385-4485
By email: infoobfsctd@vanadiumcorp.com
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.

Cautionary Note – 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. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 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.