VanadiumCorp Closes Private Placement

VanadiumCorp Resource Inc. has successfully closed its non-brokered private placement financing, raising aggregate gross proceeds of $635,000. The financing involved the issuance of 5,291,666 units at $0.12 per unit, with each unit comprising one common share and one common share purchase warrant. The warrants are exercisable at $0.22 per share for two years. The TSX Venture Exchange granted final approval for the financing. Proceeds are earmarked for working capital and general corporate purposes. Two investors became insiders of VanadiumCorp Resource Inc. through their participation, which is considered a related party transaction but is exempt from formal valuation and minority shareholder approval requirements under MI 61-101. VanadiumCorp Resource Inc. is a Canadian critical metals exploration company with projects in Canada — Quebec and is developing technology for vanadium extraction for energy storage applications.