VanadiumCorp Reports Initial Davis Tube Testing Results Including 11.99 M Containing 29.9% Magnetics with 1.69% V2O5, and New Drilling Results Including 0.67% V2O5 Over 27.1 M at Lac Doré, Québec

VanadiumCorp Resource Inc. (TSX-V: “VRB”) (“VanadiumCorp” or the “Company”), is pleased to announce drilling results for an additional four drill holes from the Company’s summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property. Holes reported are LD-19-001, LD-19-019, LD-19-023 and LD-19-033, bringing the total number of holes with complete results received to seven (7), out of 35 holes drilled in 2019. 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 :

·Davis Tube magnetic separation testwork on VTM mineralized core from drill hole LD-19-022 included the following results:

·Davis Tube testwork results also show several VTM mineralized core intervals with anomalous V2O5 contents of magnetite in drillhole LD-19-024, including:

·Davis Tube magnetic separation testwork results are consistent with historical Davis Tube testwork results and confirm the presence of magnetite-bearing layers with the potential for high-V2O5 magnetite concentrates, particularly the lower (P1 or P0) units.

·Complete assay results received for an additional four (4) drill holes .

·All four holes intersected significant VTM mineralization.

·Best intercepts include:

·Mineralization occurs as layers of massive, semi-massive and disseminated magnetite. Davis Tube results from drillholes LD-19-022 and LD-19-024 show magnetite contents ranging from ~12% to ~53%.

* 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-19-001, LD-19-022, LD-19-023 and LD-19-033, -60° for LD-19-024 or -55° for LD-19-019).

Adriaan Bakker , President and CEO of VanadiumCorp, states: “We are very encouraged by the initial Davis Tube test results that indicate that V2O5 grades of up to 1.7% can be obtained in the magnetite concentrate. These early positive metallurgical test results, combined with our latest drilling results continue to support our objective of advancing our Lac Doré Vanadium project to the mineral resources estimation stage and beyond.”