Drilling is Underway at VR’s Hecla-Kilmer Copper-Gold Breccia Target in Northern Ontario - Seite 3

The reader is referred to the recent news release dated July 22^nd, 2021, for tabulated assay data and drill core photos from intersections of rare earth element mineralization hosted in carbonate-fluorite-sulfide hydrothermal breccia with potassic alteration mineral assemblages in two of the drill holes completed by VR in 2020 which targeted the peaks of the magnetic MVI anomalies. The holes are located on the eastern margin of the gravity anomaly identified and delineated by a ground-based winter gravity survey completed subsequent to the first-phase drilling in the fall of 2020.

Technical Information

Summary technical and geological information for the Company’s various exploration properties is available at the Company’s website at www.vrr.ca.

For the first phase of drilling in 2020 at Hecla-Kilmer project, VR submitted drill core for Minalyze XRF scanning and sawn drill core samples for geochemical assay to the SGS Canada Inc. (“SGS”) laboratory facilities in Sudbury, Ontario, with final geochemical analytical work done at the SGS laboratory located in Burnaby, BC., including ICP-MS and ICP-AES analyses for base metals, trace elements and full-suite REE analysis, and gold determination by atomic absorption assay. Analytical results are subject to industry-standard and NI 43-101 compliant QAQC sample procedures externally by the Company and internally at the laboratory as described by SGS.

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Justin Daley, P.Geo., Exploration Manager and Chief Geologist at VR and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects, and the content of this news release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.

About Hecla-Kilmer

The Hecla-Kilmer complex is located 35 kms southwest of the Company’s Ranoke property in northern Ontario. It is located 23 km northwest of the Ontario hydro-electric facility at Otter Rapids, the Ontario Northland Railway, and the northern terminus of Highway 634 which links the region to the towns of Cochrane and Kapuskasing along the northern Trans-Canada Highway located some 100 km to the south.