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VanadiumCorp Intercepts 0.66% V2O5 Over 29.4 Metres at Lac Doré, Québec

TSX-V: “VRB”

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VANCOUVER, BRITISH COLUMBIA, March 16, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (“VanadiumCorp” or the “Company”), is pleased to announce the drilling results for the first three holes from the Company’s summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property. The Lac Doré Vanadium property is located 27 km east-southeast from the city of Chibougamau, in Eeyou Istchee James Bay Territory, Northern Québec. The Chibougamau area is host to several vanadiferous titanomagnetite (VTM) deposits, including the Southwest and Armitage deposits on the adjacent Blackrock property (BlackRock Metals Inc.) and the South and North Zone deposits on the Mont Sorcier project to the North (Vanadium One Iron Corp).

The 2019 drill program targeted the Company’s Lac Doré Vanadium prospect where historical drilling and surface channel sampling conducted between 1958 and 2013 have revealed the presence within property limits of massive, semi-massive and disseminated bands of VTM mineralization along a 2 km long by 200 m wide and minimum 200 m deep corridor.

The Lac Doré Vanadium property lies on the southern flank of the Lac Doré anorthosite complex of Chibougamau and straddles the layered magmatic zone, which hosts the VTM mineralization. This layered magmatic zone has been traced by historical geophysics, drilling and mapping over a linear distance of 20 km.

Highlights:

  • Complete assay results received for three (3) holes out of the 35 holes drilled in 2019 (Figure 1).
  • All three holes intersected significant VTM
  • Best intercepts include:
    • Hole LD-19-002 drilled at -45o to a depth of 222 m intersected 4 m* grading 0.66% V2O5 (from 119.9 m to 152.3 m, core-length; Table 1; Figure 2), including 9.1 m* grading 0.73% V2O5 (from 122.8 to 132.8 m, core-length);
    • Hole LD-19-022 drilled at -45o to a depth of 282 m intersected 26.8 m* grading 0.59% V2O5 (from 102.9 m to 132.5 m, core-length; Table 1; Figure 3), including 4.8 m* grading 0.73% V2O5 (from 118.4 m to 123.7 m core-length; Table 1; Figure 3);
    • Hole LD-19-24 drilled at -60o to a depth of 240 m intersected 10.7 m* grading 0.72% V2O5 (from 172.3 to 186.3 core-length; Table 1; Figure 2) and 12 m* grading 0.72 % V2O5 (from 203.7 m to 219.4 m core-length; Table 1; Figure 2).
  • Mineralization occurs as layers of massive, semi-massive and disseminated magnetite, ranging from 20% to >50% magnetite content, based on visual estimates. V2O5:Fe2O3 ratios suggest potential for high-V2O5 magnetite concentrates with >1.5% V2O5, consistent with historical Davis Tube testwork results.
  • Davis Tube magnetic separation testwork and assaying of concentrates have commenced on selected intervals from these three drill holes, and the results will confirm the grade of the vanadium in magnetite concentrates from each of the zones.Lac Dore Drill Core 2019

* True thickness. True thicknesses have been estimated by assuming a dip of the layering of 70° to the SE, and the plunge of the drill hole towards the NW (-45° for LD-19-002 and LD-19-022 or -60° for LD-19-024).

Adriaan Bakker, President and CEO of VanadiumCorp, states: “We are extremely pleased with the results of the first three drill holes on our Lac Doré Vanadium prospect. Our strategy to try to identify potential high-grade vanadium zones within the VTM-bearing stratigraphy through detailed systematic sampling is starting to pay-off with 12 intercepts grading a minimum of 0.5% V2O5 over at least 5 m* identified in the first three holes, culminating in a 29.4 m* intercept grading 0.66% V2O5 in hole LD-019-002. While we await the assay results for the remaining 32 holes, InnovExplo is building the drill database and geological sections needed to prepare the maiden mineral resources statement for the Lac Doré Vanadium prospect.

Table 1: Summary of the significant intersections, with weighted average grades for V2O5, Fe2O3 and TiO2, intersected core lengths, and estimated true thicknesses.

HOLE-ID FROM

(m)

TO

(m)

CORE LENGTH (m) ESTIMATED TRUE THICKNESS (m) V2O5
(%)
Fe2O3
(%)
TiO2
(%)
Zone
LD-19-002 10.0 20.5 10.5 9.5 0.53 55.13 12.95 P3
INCLUDING 11.5 14.1 2.6 2.4 0.63 59.00 14.95
LD-19-002 85.1 104.3 19.2 17.4 0.66 58.19 12.73 P2
INCLUDING 87.0 89.7 2.7 2.4 0.74 66.15 15.23
AND 92.0 102.5 10.5 9.5 0.75 65.34 14.20
LD-19-002 119.9 152.3 32.5 29.4 0.66 53.18 10.57 P2
INCLUDING 122.8 132.8 10.0 9.1 0.73 60.09 12.50
AND 143.5 151.0 7.5 6.8 0.80 60.46 11.46
LD-19-002 154.5 160.8 6.3 5.7 0.77 55.78 10.55 P2
INCLUDING 156.5 160.8 4.3 3.9 0.84 59.63 11.35
LD-19-002 165.3 176.6 11.3 10.2 0.70 49.13 8.74 P1
LD-19-002 181.0 185.9 4.8 4.4 0.54 38.41 6.52 P1
LD-19-022 42.9 60.0 17.2 15.5 0.48 52.88 12.62 P3
INCLUDING 52.5 58.5 6.0 5.4 0.59 60.55 14.50
LD-19-022 102.9 132.5 29.6 26.8 0.59 48.46 9.23 P2
INCLUDING 102.9 115.0 12.1 11.0 0.66 55.21 11.50
AND 118.4 123.7 5.4 4.8 0.73 55.86 10.52
LD-19-022 143.5 164.9 21.4 19.4 0.45 35.05 5.39 P2
INCLUDING 146.5 148.0 1.5 1.4 0.79 56.00 9.62
AND 162.7 164.9 2.2 2.0 0.72 49.40 8.21
LD-19-022 173.0 185.7 12.7 11.5 0.42 33.04 4.67 P2
LD-19-022 195.7 204.1 8.4 7.6 0.51 39.57 5.51 P2
INCLUDING 201.7 203.0 1.3 1.2 0.83 56.30 8.77
LD-19-022 218.1 227.4 9.3 8.4 0.49 35.18 5.28 P1
LD-19-022 232.5 235.8 3.3 3.0 0.28 21.73 3.18 P0
LD-19-022 252.5 255.3 2.9 2.6 0.41 30.73 4.03 P0
LD-19-024 25.0 36.5 11.5 8.8 0.51 52.91 11.89 P3
INCLUDING 27.9 35.0 7.1 5.4 0.63 62.29 14.23
LD-19-024 104.0 109.0 5.1 3.9 0.73 65.65 14.88 P2
LD-19-024 113.6 117.1 3.5 2.7 0.58 53.86 11.16 P2
LD-19-024 127.0 136.9 9.9 7.6 0.62 52.49 11.27 P2
LD-19-024 151.7 157.3 5.6 4.3 0.73 58.90 12.38 P2
LD-19-024 172.3 186.3 14.0 10.7 0.72 53.48 10.57 P2
INCLUDING 182.5 185.5 3.0 2.3 0.87 63.40 12.30
LD-19-024 191.8 198.1 6.3 4.8 0.80 57.36 10.61 P2
LD-19-024 203.7 219.4 15.7 12.0 0.72 51.07 9.40 P2
INCLUDING 217.0 219.4 2.4 1.8 0.90 62.58 11.00
LD-19-024 225.2 235.2 10.0 7.7 0.48 35.89 5.72 P1

2019 exploration program

The summer-fall 2019 exploration program conducted at the Lac Doré Vanadium property was designed by the Company with the aid of mining industry consultants InnovExplo of Val-d’Or, Québec and CSA Global of Vancouver, BC. The exploration program was managed by InnovExplo of Val-d’Or, Québec under the supervision of the Table Jamésienne de Concertation Minière (TJCM) of Chibougamau, Québec.

  • The infill and extension drilling program was the main component of the 2019 exploration program. Thirty-five (35) holes were drilled (total: 9,196 m) within the outline of the corridor hosting banded VTM mineralization that was the focus of historic drilling, including 28 holes drilled to map the continuity of VTM mineralization between historic holes (7,642 m) and seven (7) holes drilled to twin historic holes (total: 1,554 m). The drilling was carried out by Miikan Drilling Ltd of Chibougamau.
  • Drill core samples (half-core) are submitted to SGS Canada Inc.’s facilities in Val d’Or and Quebec City, Quebec for preparation. The entire sample is dried as required and crushed to 75% passing 2 mm. A 1000-1500 g subsample is then split out and pulverized to 85% passing 75 μm and ~150 g subsample taken for head assays.
  • Samples are then shipped to SGS Canada Inc.’s facility at Lakefield, Ontario for Whole Rock Analysis (WRA) performed by X-Ray Fluorescence spectroscopy (XRF). The SGS facilities are ISO/IEC 17025 standard certified for the methods used, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The suite of elements analysed includes SiO2, Al2O3, Fe2O3, MgO, CaO, Na2O, K2O, TiO2, P2O5, MnO, Cr2O3, V2O5, and Loss on Ignition (LOI).
  • Strict QA/QC protocols designed by InnovExplo and CSA Global was implemented to ensure the assay results are relevant, reliable and in accordance with industry standards, CIM Mineral Exploration Best Practice Guidelines (CIM Exploration Guidelines, 2018) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) disclosure requirements.
  • The QAQC Protocol is as follows:
  • Minimum 5% appropriate VTM standards to be inserted into the sample stream (i.e. 1 standard per 20 samples);
  • Minimum 5% blanks to be inserted into the sample stream;
  • All coarse rejects and pulps to be collected from the laboratory
  • 5% of pulps to be resubmitted to SGS in later batches as duplicates with new sample numbers
  • 5% of pulps to be submitted to an umpire laboratory

Figure 1: Drill hole locations for the 2019 drilling program

Figure 2: Section LD-19-002 and LD-19-024

Figure 3: Section LD-19-022

The details of the first results received from the laboratory are presented in table below (Lengths are expressed along drill core axis. The true thickness was not determined):

Hole Id From To Core length V2O5 (%) High Grade interval V2O5 (>0.6%) Grade interval V2O5 (>0.3%) Fe2O3 (%) High Grade interval Fe2O3 (>45%) Grade interval Fe2O3 (>30%) TiO2 (%) High Grade interval TiO2 (>9%) Grade interval TiO2 (>5%)
LD-19-002 10.0 11.5 1.5 0.58 0.53 % over 56.60 55.13 % over 14.00 12.95 % over
11.5 13.0 1.5 0.61 0.63 % over 10.5 m 60.10 59.00 % over 10.5 m 14.70 14.95 % over 10.5 m
13.0 14.1 1.1 0.65 2.6 m 57.50 2.6 m 15.30 2.6 m
14.1 14.8 0.7 0.13 22.10 2.77
14.8 16.0 1.3 0.45 48.70 9.86
16.0 17.5 1.5 0.62 61.20 14.30
17.5 19.0 1.5 0.55 65.10 15.50
19.0 20.5 1.5 0.43 50.60 11.50
47.5 49.0 1.5 0.61 0.61 % / 1.5 m 59.80 59.80 % / 1.5 m 13.80 13.80 % / 1.5 m
85.1 86.0 0.9 0.62 0.66 % over 57.00 58.19 % over 12.80 12.73 % over
86.0 86.4 0.4 0.12 19.2 m 15.30 19.15 m 2.72 19.2 m
86.4 87.0 0.6 0.69 62.80 14.20
87.0 88.5 1.5 0.73 0.74 % over 66.50 66.15 % over 15.10 15.23 % over
88.5 89.7 1.2 0.75 2.7 m 65.70 2.7 m 15.40 2.7 m
89.7 91.3 1.6 0.04 11.20 1.39
91.3 92.0 0.8 0.66 58.30 13.40
92.0 93.5 1.5 0.74 0.75 % over 65.70 65.34 % over 14.50 14.20 % over
93.5 95.0 1.5 0.76 10.5 m 66.20 10.5 m 14.60 10.5 m
95.0 96.5 1.5 0.73 65.30 14.20
96.5 98.0 1.5 0.77 66.80 14.70
98.0 99.5 1.5 0.81 68.70 15.00
99.5 101.0 1.5 0.74 62.40 13.20
101.0 102.5 1.5 0.73 62.30 13.20
102.5 103.5 1.0 0.69 60.10 12.90
103.5 104.3 0.8 0.53 48.10 10.70
119.9 121.3 1.5 0.59 0.66 % over 52.10 53.18 % over 10.70 10.57 % over
121.3 122.8 1.5 0.68 32.45 m 59.40 32.45 m 12.00 32.45 m
122.8 124.3 1.5 0.73 0.73 % over 61.70 60.09 % over 12.90 12.50 % over
124.3 125.8 1.5 0.76 10.0 m 63.10 10.0 m 13.20 10.0 m
125.8 127.3 1.5 0.65 55.50 11.30
127.3 128.8 1.5 0.67 54.60 11.20
128.8 130.3 1.5 0.78 62.40 13.10
130.3 131.3 1.0 0.78 62.70 13.10
131.3 132.8 1.5 0.76 61.50 12.90
132.8 134.3 1.5 0.61 49.80 10.10
134.3 135.8 1.5 0.67 54.40 11.30
135.8 137.0 1.2 0.77 59.60 12.10
137.0 137.8 0.8 0.70 56.30 11.20
137.8 138.4 0.5 0.17 23.10 2.86
138.4 139.5 1.2 0.48 37.00 7.58
139.5 139.9 0.4 0.03 9.93 0.68
LD-19-002 139.9 140.4 0.4 0.69 53.70 10.70
140.4 141.4 1.0 0.11 15.00 1.98
141.4 141.8 0.5 0.44 37.30 7.10
141.8 142.2 0.4 0.07 13.00 1.71
142.2 143.5 1.3 0.51 40.50 8.11
143.5 145.0 1.5 0.76 0.80 % over 58.60 60.46 % over 11.50 11.46 % over
145.0 146.5 1.5 0.81 7.5 m 61.20 7.5 m 11.60 7.5 m
146.5 148.0 1.5 0.73 55.40 10.50
148.0 149.5 1.5 0.85 64.80 12.00
149.5 151.0 1.5 0.83 62.30 11.70
151.0 152.3 1.3 0.63 46.70 8.58
154.5 155.5 1.0 0.60 0.77 % over 45.70 55.78 % over 8.40 10.55 % over
155.5 156.5 1.0 0.67 6.3 m 49.30 6.3 m 9.30 6.3 m
156.5 158.0 1.5 0.79 0.84 % over 55.40 59.63 % over 10.60 11.35 % over
158.0 159.5 1.5 0.86 4.3 m 61.30 4.3 m 11.70 4.3 m
159.5 160.8 1.3 0.86 62.60 11.80
165.3 166.8 1.5 0.80 0.70 % over 57.00 49.13 % over 10.60 8.74 % over
166.8 168.3 1.5 0.79 11.3 m 55.80 11.3 m 9.96 11.3 m
168.3 169.8 1.5 0.76 50.40 9.54
169.8 170.8 1.0 0.75 53.40 9.16
170.8 171.4 0.6 0.93 64.50 11.50
171.4 172.3 0.9 0.22 17.60 2.93
172.3 173.5 1.2 0.75 52.30 9.22
173.5 174.9 1.4 0.32 24.30 4.08
174.9 175.9 1.0 0.90 61.50 10.60
175.9 176.6 0.7 0.92 64.10 10.90
181.0 182.0 1.0 0.53 0.54 % over 40.20 38.41 % over 6.23 6.52 % over
182.0 182.5 0.5 0.95 4.8 m 64.50 4.8 m 10.60 4.8 m
182.5 183.8 1.3 0.38 26.20 4.25
183.8 184.6 0.8 0.73 51.80 8.81
184.6 185.4 0.8 0.25 17.30 3.12
185.4 185.9 0.4 0.82 58.30 11.80
LD-19-022 42.9 44.5 1.6 0.46 0.48 % over 53.10 52.88 % over 13.60 12.62 % over
44.5 45.9 1.4 0.52 17.2 m 60.20 17.2 m 14.60 17.2 m
45.9 47.5 1.6 0.42 50.30 11.70
47.5 49.0 1.5 0.49 55.60 13.50
49.0 49.6 0.6 0.04 13.70 1.04
49.6 51.0 1.5 0.44 48.70 11.70
51.0 52.5 1.5 0.39 45.80 10.30
52.5 54.0 1.5 0.52 0.59 % over 55.10 60.55 % over 13.30 14.50 % over
54.0 55.5 1.5 0.55 6.0 m 57.70 6.0 m 13.80 6.0 m
55.5 57.0 1.5 0.62 62.80 15.00
57.0 58.5 1.5 0.67 66.60 15.90
58.5 60.0 1.5 0.41 42.00 10.10
102.9 104.4 1.5 0.65 0.66 % over 0.59 % over 55.00 55.21 % over 48.46 % over 12.20 11.50 % over 9.23 % over
104.4 105.8 1.4 0.67 12.1 m 29.60 m 56.90 12.1 m 29.60 m 12.40 12.1 m 29.60 m
105.8 107.0 1.2 0.60 51.70 11.10
107.0 108.0 1.0 0.72 59.40 12.70
108.0 109.5 1.5 0.68 57.70 12.00
109.5 112.0 2.5 0.67 55.50 11.20
112.0 113.5 1.5 0.70 55.70 11.30
113.5 115.0 1.5 0.58 50.40 9.65
115.0 116.6 1.6 0.06 23.40 1.28
116.6 117.8 1.2 0.69 52.90 10.40
117.8 118.4 0.6 0.31 28.20 4.87
118.4 120.0 1.7 0.74 0.73 % over 55.40 55.86 % over 10.70 10.52 % over
LD-19-022 120.0 121.5 1.5 0.66 5.4 m 51.90 5.4 m 9.61 5.4 m
121.5 123.7 2.2 0.77 58.90 11.00
123.7 124.8 1.1 0.36 27.70 5.39
124.8 125.8 1.0 0.42 32.40 5.82
125.8 127.5 1.7 0.54 43.50 7.37
127.5 129.0 1.5 0.62 48.10 8.31
129.0 130.0 1.0 0.54 44.10 7.35
130.0 130.9 0.9 0.04 12.70 1.13
130.9 132.5 1.6 0.72 0.72 % / 1.6 m 54.90 54.90 %

/ 1.6 m

9.86 9.86 % / 1.6 m
143.5 145.0 1.5 0.42 0.45 % over 35.10 35.05 % over 5.26 5.39 % over
145.0 146.5 1.5 0.48 21.4 m 39.90 21.4 m 6.04 21.4 m
146.5 148.0 1.5 0.79 0.79 % / 1.5 m 56.00 56.00 % /

1.5 m

9.62 9.62 % / 1.5 m
148.0 149.5 1.5 0.36 30.20 4.25
149.5 151.0 1.5 0.36 30.60 4.31
151.0 152.5 1.5 0.57 43.40 6.99
152.5 154.0 1.5 0.48 36.70 5.71
154.0 155.5 1.5 0.33 27.30 3.80
155.5 158.0 2.5 0.35 28.70 4.32
158.0 159.5 1.5 0.48 36.40 5.42
159.5 161.0 1.5 0.25 21.30 3.01
161.0 162.7 1.7 0.24 20.20 2.86
162.7 164.9 2.2 0.72 0.72 % / 2.2 m 49.40 49.40 %

/ 2.2 m

8.21 8.21 % / 2.2 m
173.0 174.5 1.5 0.46 0.42 % over 34.60 33.04 % over 5.35 4.67 % over
174.5 175.8 1.3 0.74 12.7 m 53.10 12.7 m 8.33 12.7 m
175.8 177.3 1.5 0.30 22.40 3.28
177.3 180.0 2.7 0.40 33.70 4.44
180.0 181.5 1.5 0.38 33.70 4.23
181.5 183.8 2.3 0.39 33.90 4.33
183.8 185.7 1.9 0.33 24.00 3.78
195.7 197.0 1.3 0.35 0.51 % over 29.80 39.57 % over 3.71 5.51 % over
LD-19-022 197.0 199.2 2.2 0.65 8.4 m 47.70 8.4 m 7.06 8.4 m
199.2 200.5 1.3 0.26 23.70 2.80
200.5 201.7 1.2 0.29 27.70 3.02
201.7 203.0 1.3 0.83 0.83 % / 1.3 m 56.30 56.30 % / 1.3 m 8.77 8.77 % / 1.3 m
203.0 204.1 1.1 0.59 46.80 6.58
218.1 219.5 1.4 0.57 0.49 % over 40.20 35.18 % over 6.18 5.28 % over
219.5 221.0 1.5 0.62 9.3 m 43.70 9.3 m 6.66 9.3 m
221.0 222.5 1.5 0.49 34.00 5.10
222.5 223.2 0.7 0.75 52.20 7.87
223.2 224.2 1.0 0.23 17.80 2.46
224.2 225.0 0.8 0.70 48.00 7.25
225.0 226.2 1.2 0.16 14.00 1.93
226.2 227.4 1.2 0.52 37.30 5.57
232.5 234.0 1.5 0.38 0.28 % over 28.50 21.73 % over 4.24 3.18 % over
234.0 235.3 1.3 0.13 3.3 m 10.90 3.3 m 1.51 3.3 m
235.3 235.8 0.5 0.39 29.60 4.37
252.5 254.0 1.6 0.32 0.41 % over 28.40 30.73 % over 3.25 4.03 % over
254.0 255.3 1.3 0.51 2.9 m 33.50 2.9 m 4.97 2.9 m
LD-19-024

 

25.0 26.0 1.0 0.46 0.51 % over 48.30 52.91 % over 11.20 11.89 % over
26.0 26.7 0.7 0.36 11.5 m 35.50 11.5 m 8.78 11.5 m
26.7 27.2 0.5 0.04 13.20 1.02
27.2 27.9 0.7 0.21 26.70 5.00
27.9 29.4 1.5 0.63 0.63 % over 62.20 62.29 % over 14.80 14.23 % over
29.4 30.9 1.5 0.50 7.1 m 54.60 7.1 m 11.40 7.1 m
30.9 32.4 1.5 0.69 66.10 15.20
32.4 33.9 1.5 0.70 65.30 15.10
33.9 35.0 1.1 0.66 63.60 14.80
35.0 36.5 1.5 0.33 45.20 9.53
104.0 105.0 1.1 0.73 0.73 % over 66.00 65.65 % over 15.20 14.88 % over
105.0 106.5 1.5 0.73 5.1 m 66.30 5.1 m 15.20 5.1 m
106.5 108.0 1.5 0.73 65.60 14.80
108.0 109.0 1.0 0.72 64.40 14.20
113.6 115.0 1.4 0.48 0.58 % over 46.30 53.86 % over 9.32 11.16 % over
115.0 116.0 1.0 0.66 3.5 m 59.90 3.5 m 12.60 3.5 m
116.0 117.1 1.1 0.64 58.00 12.20
127.0 128.0 1.0 0.71 0.62 % over 54.80 52.49 % over 12.70 11.27 % over
128.0 129.0 1.0 0.77 9.9 m 64.90 9.9 m 13.60 9.9 m
129.0 130.0 1.0 0.49 42.60 8.63
130.0 131.0 1.0 0.63 54.90 11.40
131.0 131.6 0.6 0.62 53.00 11.20
131.6 133.0 1.4 0.64 54.10 11.70
133.0 134.5 1.5 0.66 56.50 12.30
134.5 135.7 1.2 0.60 51.70 11.60
135.7 136.1 0.4 0.10 15.40 2.09
136.1 136.9 0.8 0.60 52.40 11.20
151.7 153.0 1.3 0.73 0.73 % over 60.10 58.90 % over 12.80 12.38 % over
153.0 154.5 1.5 0.68 5.6 m 55.60 5.6 m 11.50 5.6 m
154.5 156.0 1.5 0.76 59.70 12.60
156.0 157.3 1.3 0.76 60.60 12.70
172.3 173.1 0.8 0.54 0.72 % over 41.70 53.48 % over 8.32 10.57 % over
173.1 174.0 0.9 0.21 14.0 m 17.50 14.0 m 3.18 14.0 m
LD-19-024 174.0 175.0 1.0 0.43 33.70 6.71
175.0 176.5 1.5 0.81 61.60 12.10
176.5 178.0 1.5 0.75 58.70 11.80
178.0 179.5 1.5 0.78 57.50 11.60
179.5 181.0 1.5 0.78 57.20 11.40
181.0 182.5 1.5 0.73 54.30 10.80
182.5 184.0 1.5 0.84 0.87 % over 61.90 63.40 % over 12.10 12.30 % over
184.0 185.5 1.5 0.89 3.0 m 64.90 3.0 m 12.50 3.0 m
185.5 186.3 0.8 0.74 52.10 10.40
191.8 192.5 0.7 0.57 0.80 % over 42.90 57.36 % over 8.15 10.61 % over
192.5 194.0 1.5 0.85 6.3 m 59.20 6.3 m 10.90 6.3 m
194.0 195.5 1.5 0.81 57.60 10.80
195.5 197.0 1.5 0.83 60.00 11.30
197.0 198.1 1.1 0.81 60.10 10.60
203.7 205.0 1.3 0.85 0.72 % over 61.70 51.07 % over 11.40 9.04 % over
205.0 205.8 0.8 0.77 15.7 m 56.30 15.7 m 9.81 15.7 m
205.8 207.0 1.2 0.84 58.70 10.70
207.0 208.5 1.5 0.67 48.10 8.58
208.5 210.0 1.5 0.70 49.80 8.86
210.0 211.5 1.5 0.77 54.40 9.55
211.5 212.5 1.0 0.91 63.10 11.20
212.5 213.9 1.3 0.28 22.20 3.64
213.9 215.0 1.2 0.84 59.90 10.50
215.0 216.0 1.0 0.28 19.60 3.60
216.0 217.0 1.0 0.66 46.50 7.85
217.0 218.0 1.0 0.85 0.90 % over 58.50 62.58 % over 10.20 11.00 % over
218.0 219.4 1.3 0.94 2.3 m 65.60 2.3 m 11.60 2.3 m
225.2 226.5 1.3 0.47 0.48 % over 35.60 35.89 % over 5.47 5.72 % over
226.5 227.4 0.9 0.65 10.0 m 46.80 10.0 m 7.45 10.0 m
LD-19-024 227.4 228.1 0.7 0.27 20.70 3.07
228.1 229.0 0.9 0.62 44.70 7.48
229.0 229.9 0.9 0.69 49.90 8.13
229.9 231.2 1.3 0.34 26.10 4.16
231.2 231.9 0.7 0.80 56.70 9.22
231.9 233.0 1.2 0.10 12.00 1.52
233.0 233.7 0.7 0.11 11.60 1.61
233.7 235.2 1.5 0.72 51.10 8.46

Qualified Persons

The scientific and technical information disclosed in this news release has been prepared, reviewed and approved by Mr. Carl Pelletier, B.Sc., P.Geo. (Québec) from InnovExplo, a consultant to the Company and an Independent Qualified Person under NI 43-101 – Standards of Disclosure for Mineral Projects.

About VanadiumCorp Resource Inc.

VanadiumCorp is an integrated technology and mining company focused on developing the exclusive supply chain for vanadium-based energy storage and emerging technologies that utilize vanadium. VanadiumCorp is focused on commercializing the most efficient and sustainable recovery method to produce vanadium with jointly developed process technology. VanadiumCorp also holds a significant vanadium-titanium-iron bearing resource base in mining friendly Quebec, Canada including the 100% owned Lac Doré Project adjacent to Blackrock Metals Inc. and the 100% owned Iron-T Project near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.

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: ab@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 & Forward-Looking Statements
 This release contains forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to the anticipated use of Private Placement proceeds and anticipated receipt of final TSX Venture Exchange acceptance for the Private Placement.  Forward-looking statements include words or expressions such as “will”, “subject to”, “expect” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets and risks that may impact the Company’s business, operations and financial condition. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect the Company’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.