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[Ferro-Alloys.com] VanadiumCorp Resource Inc (TSX-V:VRB) has announced a non-brokered private placement financing for aggregate gross proceeds of up to $600,000.

The financing will consist of up to 15,000,000 units priced at $0.04 each. Each unit includes one common share of the company and one common share purchase warrant. Each warrant is exercisable for an additional common share at $0.06 for five years.

Net proceeds will be used for general working capital and to advance exploration and metallurgical testing on the Lac Doré mineral deposit near Chibougamau, Québec.

About VanadiumCorp Resource Inc.

VanadiumCorp Resource Inc. seeks to produce a reliable stream of high-quality vanadium electrolytes for the expanding international market for long-duration Vanadium Redox Flow Batteries (VRFB). The Company's initial manufacturing facility, Plant No. 1, is based in Val-des-Sources, Québec. The Company has also completed its engineering scoping of a 4 to 8 million litre per year electrolyte manufacturing facility ("Plant No. 2") and is actively negotiating for the required funding and joint venture partnerships.

Stable, long-term access to vanadium feedstock to produce electrolytes is assured, success-contingent on developing our wholly owned flagship Lac Doré mineral deposit near Chibougamau, Québec. The Company's electrolyte plant will also be used to test the quality of future Lac Doré pilot plant outputs and to reprocess electrolytes.

• [Editor:tianyawei]