Vancouver, British Columbia – TheNewswire – September 9, 2022 – VanadiumCorp Resources Inc. (TSXV:VRB) (OTC:APAFF) (FSE:NWN) (the “Company”) is pleased to announce it has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (“VLP”) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.
VanadiumCorp Resource Inc. is a mineral exploration company located in Vancouver, Canada, with 100% ownership of two strategic vanadium, titanium, and iron properties in Quebec. The Iron T is near Matagami, and the Company’s flagship Lac Dore property is near Chibougamau. A current technical report (Longridge, 2020) on the Lac Dore deposit describes Measured and Indicated Mineral Resources of 215 million tonnes containing 53 million tonnes of recoverable titanomagnetite. The titanomagnetite concentrate is estimated to have 1.49 billion pounds of V2O5 (not factored for recoveries from titanomagnetite).
VanadiumCorp also owns 100% of the newly patented hydrometallurgical process, VEPT (the “VanadiumCorp, Electrochem, Process Technology”), invented by Dr. Francois Cardarelli, that consists of digesting vanadiferous feedstocks into concentrated sulfuric acid. The technology addresses the recovery of vanadium, titanium, ferrous sulphate, and silica products from mineral concentrate feedstocks, such as titanomagnetite. The VEPT process is also valid for recovering vanadium from industrial residues, such as fly-ash from powerplants and slags from oxygen blast furnaces (BOF-slags). Dr. Cardarelli’s sulphuric acid process is novel because it adapts a proven and widely used sulphuric acid process to the extraction of valuable metals from titanomagnetite and industrial residues.
Mr. Paul McGuigan, P. Geo., is a “Qualified Person” (as defined in NI 43-101 -Standards for Disclosure for Mineral Projects) and a director of the Company, has reviewed and approved the technical disclosures in this news release.
ON BEHALF OF THE BOARD OF VANADIUMCORP RESOURCE INC.
Paul McGuigan, P. Geo
Director, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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