Vanadiumcorp Resource gears up for NI 43-101 report

Executive Summary

• Vanadiumcorp Resource Inc. has initiated a staged technical program to prepare an NI 43-101 technical report for its Lac Laura gold-copper property in Quebec.
• The company is currently selecting independent qualified geological and engineering consultants to support this evaluation.
• The project remains in the exploration stage with no current mineral resources or reserves; the initial report will focus on data compilation and geological reinterpretation rather than resource estimation.

Key Details

• Program Objective: Preparation of an NI 43-101 technical report for the Lac Laura property, located in Levy township near Chapais, Que.
• Consultant Selection: The company is advancing the selection of independent qualified geological and engineering consultants.
• Staged Technical Approach:
  • Phase 1 (Data Compilation and Verification): Review of historical and recent datasets (geophysical surveys, drilling records, sampling, assay data, QA/QC). Includes assessment of data quality, metadata consistency, coordinate systems, and verification procedures.
  • Phase 2 (Integrated Geological and Geophysical Reinterpretation): Reinterpretation of geophysical datasets (including modern processing/inversion) combined with structural/geological reinterpretation to develop a 3D geological model and prioritize areas for follow-up.
  • Phase 3 (Target Validation): Limited site visits or focused verification activities may be conducted if supported by earlier phases.
  • Phase 4 (Targeted Exploration): Drilling or exploration programs would only proceed if earlier phases define clear areas of interest, subject to financing, permitting, and board approval.
• Report Scope: The initial NI 43-101 report will document results of Phases 1 and 2 and provide independent recommendations. It is not expected to include mineral resource or reserve estimates unless sufficient work is completed to satisfy all NI 43-101 requirements.
• Property Status: Lac Laura is at the exploration stage. No NI 43-101 compliant mineral resources or reserves currently exist. Historical information is not being treated as current resources/reserves.
• Strategic Context: This reflects a capital-disciplined asset optimization strategy for non-core assets. The company's primary focus remains on its vanadium-iron-titanium (VTM) projects (Lac Dore, Iron-T) and downstream vanadium electrolyte initiatives for VRFB markets.
• Qualified Person: Andre Gauthier, PGeo, a director of the company, has reviewed and approved the scientific and technical information.
• Data Verification: A qualified person has not yet completed sufficient work to fully verify all historical exploration data. Verification of drilling, sampling, analytical procedures, and QA/QC protocols is part of Phase 1.

Notable Quotes

• "The company intends to advance the Lac Laura property using a staged, gated technical approach designed to prioritize comprehensive data compilation and geological interpretation prior to defining any potential field-based exploration programs."
• "The company does not anticipate the inclusion of mineral resource or mineral reserve estimates in the initial report unless sufficient work is completed to satisfy all NI 43-101 requirements."
• "Advancement of the project remains subject to technical evaluation, financing, permitting and market conditions."