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VANADIUM RESOURCES LIMITED Capital/Financing Update 2021

May 31, 2021

66018_rns_2021-05-31_1d773721-9ba8-4efb-8086-7fa2262f07df.pdf

Capital/Financing Update

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01 June 2021

VR8 NEARS COMPLETION OF PFS ON STEELPOORTDRIFT PROJECT

As previously announced on the 22 April 2021 and on the 24 May 2021 Vanadium Resources Limited (ASX:VR8) was tracking within budget and time for completion of the PFS. The Company anticipated release of the final report to the market by the end of May 2021.The Company is in the final process of finalising an internal review of the study report including its assessment of the financial metrics of the PFS study results. The Company expects to announce the results of the PFS shortly.

This announcement has been authorised for release by the Chairman and Chief Executive Officer of Vanadium Resources Limited.

For further information please contact:

Kyla Garic

Company Secretary Vanadium Resources Limited

[email protected]

Vanadium Resources Limited (ASX.VR8) ABN: 47 618 307 887

7/63 Shepperton Road, Victoria Park, WA 6100 Australia 08 6158 9990 • [email protected] • www.VR8.global

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