VanadiumCorp Files NI 43-101 Technical Report

VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) -- VanadiumCorp Resource Inc. (TSX VENTURE: "VRB") (OTCBB:"APAFF") (FRANKFURT:"NWN") (the "Company") is pleased to announce that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report entitled the "Lac Doré Project, Chibougamau, Québec, Canada" with an effective date of December 10, 2020 (the "Technical Report"). The Technical Report is available for review on SEDAR (www.sedar.com) and on the Company's website (www.vanadiumcorp.com).

The Technical Report discloses the results of a Mineral Resource Estimate (MRE) for the Company's 100% owned Lac Doré Vanadium Project. The total Measured and Indicated Mineral Resources for the Lac Doré project are estimated at 214.93 million tonnes (Mt) of mineralized material contained in the Lac Doré Main Zone with the potential to produce 52.97 million tonnes of magnetite concentrate grading 1.3% Vanadium Pentoxide (V₂O₅), 62% Iron (Fe) and 8.7% Titanium Dioxide (TiO₂).

In addition, the Lac Doré project hosts 86.91 Mt grading 0.4% V₂O₅, 28.0% Fe, 7.6% TiO₂ and 25.9% magnetite concentrate in the Inferred category which are estimated to contain 22.55 Mt of magnetite concentrate grading 1.2% V₂O₅, 62% Fe and 9.2% TiO₂.

VanadiumCorp now has sufficient Mineral Resources in the appropriate categories to progress with a preliminary economic assessment or prefeasibility study. The Company plans to independently validate its 100% owned VanadiumCorp Electrochem Process Technology (“VEPT”) for use in future economic studies.

Summary of the Mineral Resource Estimate:

• Measured and Indicated Mineral Resources of 214.93 Mt at 0.4% V₂O₅, 27.1% Fe, 7.1% TiO₂ and 24.6% magnetite.
• Measured and Indicated Mineral Resources estimated to contain 52.97 Mt of magnetite concentrate grading 1.3% V₂O₅, 62% Fe and 8.7% TiO₂.
• Measured and Indicated Mineral Resources estimated to contain 1.49 billion pounds of V₂O₅ in the magnetite concentrate.
• Additional Inferred Mineral Resources of 86.91 Mt, grading at 0.4% V₂O₅, 28.0% Fe, 7.6% TiO₂ and 25.9% magnetite.
• Inferred Mineral Resources estimated to contain 22.55 Mt of magnetite concentrate, with the concentrate grading 1.2% V₂O₅, 62% Fe and 9.2% TiO₂.
• Inferred Mineral Resources estimated to contain an additional 0.61 billion pounds of V₂O₅ in the magnetite concentrate.
• Significant stratigraphic unit with higher magnetite content delineated within the resource (Unit P2-A) with:
  • Measured & Indicated Mineral Resources of 78.1 Mt at 0.6% V₂O₅, 33.4% Fe, 9.3% TiO₂ and 33.9% magnetite, with 1.3% V₂O₅, 62.0% Fe and 9.3% TiO₂ in magnetite concentrate.
  • Inferred Mineral Resources totaling 29.2 Mt at 0.6% V₂O₅, 32.7% Fe, 8.8% TiO₂ and 32.8% magnetite with 1.3% V₂O₅, 62% Fe and 8.1% TiO₂ in magnetite concentrate.
• 100.86 Mt in the Measured and Indicated category with magnetite concentrate grades > 1.4% V₂O₅.

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