VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA – December 16, 2014 – Vanadiumcorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce that the Company has conducted a 2nd phase of claim expansion adjacent to its 100% owned Lac Dore Vanadium Project situated near Chibougamau Quebec. The project claim expansion consists of 38 map designated cells spanning 8531 acres or 21.08 square kilometres. Also, 10 of the 11 posted claims which were pending approval from the initial claim expansion (News release of July 23 2014) were approved by the government, adding 603 acres or 1.49 square kilometres. The map designated cells and first 10 staked claims have been approved with the Ministère de l’Énergie et des Ressources Naturelles providing 100% ownership of all VanadiumCorp’s Lac Dore project mining claims.
The project claim expansion extends VRB mining claims North of VanadiumCorp’s Lac Dore East deposit.This recent title acquisition increases VRB land holding to a total of 135 mining claims covering 42.5 square kilometres or 17 195 acres. All of VanadiumCorp mining claims at the Lac Dore Mining project are 100% owned and free of any royalties or any other encumbrance. An updated project claim map will be available on the VanadiumCorp website within the week.
VanadiumCorp is a rapidly growing strategic metals company with projects in Quebec, Canada. VanadiumCorp has a vision to be the first primary producer of vanadium in North America. The growth strategy is focused on development of its most advanced project in mining friendly Quebec, Canada, the Lac Dore project. This project encompasses the Lac Dore deposit that is subject to over $20M of completed work, a completed NI 43-101 report, and available infrastructure. The Lac Dore deposit has the potential supply and scale for North America to make vanadium-strengthened steel and vanadium batteries, a reality for years to come. VanadiumCorp is targeting production of metallurgical grade vanadium Pentoxide as well as high purity Vanadium chemicals for the battery industry. Regarded as a “super metal,” vanadium is the number-one steel strengthener in the world and is internationally acclaimed as the “ultimate energy storage solution.” The Lac Dore Project, coupled with the Company’s Iron-T vanadium-titanium-iron Project positions VanadiumCorp at the forefront of global vanadium exploration and development. VanadiumCorp’s experienced management and technical teams are dedicated to project development and building shareholder value.
(This release was approved by Mr. Rejean Girard, P. Geo. Mr. Girard is a qualified person as defined by National Instrument 43-101.)
FOR MORE INFORMATION CONTACT:
Adriaan Bakker, President and Chief Executive Officer – Direct: 604-385-4485 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.