VanadiumCorp Resource Gets Final Approval, Closes Private Placement Financing

Financing Closing Details

• VanadiumCorp Resource Inc. received final TSX Venture Exchange approval to close the second tranche of its non-brokered private placement financing on May 11, 2026.
• Total aggregate gross proceeds from the two-tranche financing amount to $635,000 CAD.
• The offering consisted of 5,291,666 units issued at $0.12 per unit (including the first tranche announced in April).
• Each unit comprises one common share and one common share purchase warrant.

Expected Nature of Announcement

• The financing was previously announced on April 6, 2026 ($700k target), filed for approval on May 7, 2026, and closed on May 11, 2026.
• As a closing of a previously disclosed transaction, the market impact is expected to be limited as the information was not new or unexpected at the time of release.

Flagship Project: Lac Dore Vanadium Project

• Location: 100%-owned property in Quebec.
• Historical Resource (2020): Measured & Indicated of 214.93 Mt @ 0.40% V2O5, 27.1% Fe, 7.1% TiO2; Inferred of 86.91 Mt @ 0.40% V2O5.
• Current Status: Resource model update underway to revise the historical estimate. Ambient Noise Tomography (ANT) survey completed in April 2026 identified a laterally continuous low-velocity corridor coinciding with surface mineralization.