TSX-V: “VRB”

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VANCOUVER, BRITISH COLUMBIA, November 20, 2020 – VanadiumCorp Resource Inc. (TSX-V: VRB) (the “Company”) is pleased to announce that further to its news release dated November 13, 2020, it has completed its non-brokered private placement. The Company issued 10,000,000 units at a price of $0.05 for gross proceeds of $500,000. Each unit is comprised of one common share and one non-transferable warrant. Each warrant is exercisable into one common share of the Company at an exercise price of $0.10 per share for a period of 24 months from the date of issuance. The shares issued are subject to a statutory hold period expiring on March 21, 2021. Proceeds from the placement will be utilized for general working capital.

About VanadiumCorp

The Company is a mining and technology company focused on the commercial development of the VanadiumCorp-Electrochem Processing Technology “VEPT”, a green and efficient chemical process invented by Dr. Francois Cardarelli, that addresses the recovery of vanadium, iron, titanium, and silica from feedstocks such as vanadiferous titano-magnetite, iron ores and other industrial by-products containing vanadium. VanadiumCorp’s mandate is to become a strategic supplier of renewable vanadium for redox flow batteries and other high purity applications that benefit most from exclusively green and cost-effective vanadium. VanadiumCorp Resource Inc. plans to integrate VEPT into the development of the 100% owned Lac Doré vanadium-titanium-iron flagship project adjacent to Blackrock Metals Inc.’s property, which is currently permitted to build a mine and mill to produce a vanadium-rich magnetite concentrate product. VanadiumCorp provides investors with leverage to vanadium, titanium, and iron in the mining-friendly and geopolitically stable jurisdiction of Québec, Canada. Green recovery technology, resource size, superior vanadium grades and well-developed infrastructure is a valuable strategic position to take advantage of the strong vanadium market driven by supply shortages and growing demand from the Chinese steel industry, as well as the fast-emerging renewable use of vanadium in sustainable energy storage for residential to unlimited scale applications. Nearby infrastructure includes a 161kV Hydro Power at approximately $.02 kWh, CN Rail Line, available water, local airport, and a mining community of over 7,000 people in the city of Chibougamau.

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. (TSX-V: “VRB”)
By phone: 1-604-385-4489
By email: abobfsctd@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.