VanadiumCorp Resource Inc. announced mobilization to excavate vanadiferous titanomagnetite from historical trenches on the Lac Dore property, Quebec (the "Property"). This bulk sampling commences the first large tonnage test of the quality of the Lac Dore deposit performed by the Company. Definition diamond-drilling and resampling surface trenching on the Property by the Company culminated in preparing a Technical Report and Mineral Resource Estimate by CSA Global Consultants Canada Limited ("CSA"), with Dr. Luke Longridge, P. Geo.

as the lead consultant. CSA produced a Technical Report titled "Lac Doré Project, Chibougamau, Québec, Canada, December 10, 2020." The full technical report is available on the Company's website and SEDAR. Longridge recommended a program of step-out diamond drilling and metallurgical testing.

Closing the first tranche of their new financing allows the restart of crucial technical work. Led by VanadiumCorp Director Mr. Gilles Dupuis, P.Eng., the pending fieldwork will confirm the location of the Lac Dore deposit in bare rock exposures in historical trenches and apply for permits to extract up to 20 tonnes of representative massive titanomagnetite samples. With the bulk samples, the Company plans to promptly execute a multifaceted testing program on its Lac Dore deposit.

Large grinding and novel mineral separation tests will be performed in Fourth Quarter 2022 and First Quarter 2023. An estimated 5 tonnes or more of high-quality concentrates from the bulk samples will feed new hydrometallurgical tests in January 2023. The program aims to improve the yields and quality of the outputs from its VEPT process and investigate cost-saving measures, such as recycling process acids.

Gilles Dupuis, P. Eng. and Gilles Champagne, Ph.D., CTO, will collaborate in several Quebec-based programs to improve their metallurgical extraction technologies and pilot the manufacture of high-purity vanadium electrolytes from their concentrates. VanadiumCorp owns 100% of a newly patented hydrometallurgical process, VEPT (the "VanadiumCorp, Electrochem, Process Technology"), invented by Dr. Francois Cardarelli consists of digesting vanadiferous feedstocks into concentrated sulfuric acid.

The key to the adequate supply of vanadium and titanium critical metals will be adopting alternate extractive technologies such as this new hydrometallurgical process.