Vanadiumcorp Shareholder Files Dissident Circular

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Shareholders Urged to Vote Concerned Shareholder Proxies to Strengthen Board With Three New Qualified Nominees

VANCOUVER, British Columbia, June 12, 2024 (GLOBE NEWSWIRE) — ATM Mining Corp.ATM“or”Concerned Shareholders”), a Vancouver-based resource company and significant shareholder of VanadiumCorp Resource Inc. (TSXV: VRB) (“VanadiumCorp“or”Company“), announced today that it has filed an information circular (“Dissident Circular”) on SEDAR+, together with the form of proxy and letter to shareholders of VanadiumCorp in connection with the annual and special meeting of shareholders of the Company to be held on July 2, 2024 (at “AGM“). Concerned Shareholders seek to improve the quality of VanadiumCorp’s management by installing new directors who have the ability to put the Company on the path to realizing its significant potential.

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ATM requests support, by Proxy of Concerned Shareholders, for three outstanding nominations for election as directors of the Company at the AGM: Pierre Alarie, Ian Graham, and Ian Mallory. Please review the letters and biographies of the proposed nominees whose qualifications and experience are set out in the Dissident Circular. ATM also supports the re-election of three current directors: Gilles Dupuis, Christian Paradis, and Stephen Pearce.

Concerned Shareholders believe that it is best for the Company to implement the following special measures:

• Strengthen the Company Board with senior executives with deep experience in the mining and energy sector who are committed to responsible Company management.‎
• Create a realistic financing plan that will have the best chance of placing the Company in a sustainable financial position, while minimizing further liquidity for Shareholders.‎
• Upgrade the Company’s commercialization capacity for new vanadium electrolyte products – especially in marketing, customer relations and sales – so that a positive initial market can be achieved, profitable sales can be completed, and profits are received in 2024.‎
• Hiring a new President and Chief Executive Officer, based in Québec, who has the necessary experience in business leadership, early stage corporate finance, mining/metals, and industrial production.

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Craig J. Dalziel, President of ATM, said, “Under the current CEO, shareholders have lost two-thirds of their investment over the past two years with little prospect of improvement. ATM believes that, with proper management, VanadiumCorp has a real opportunity to become an international leader in a growing market place for vanadium electrolytes, a key ingredient in long vanadium flow batteries, and provides significant value to shareholders.We urge VanadiumCorp shareholders to support the slate of directors for election at the upcoming AGM.

Shareholders are advised to read the Objection Circular and vote only by Concerned Shareholder Proxy on or before 5:00 p.m. (Vancouver time) on June 27, 2024, so that their votes can be received before the proxy cuts. . Shareholders who have voted and wish to change their vote in favor of the three Concerned Shareholder nominations can do so by simply executing a Concerned Shareholder Proxy, as the Concerned Shareholder Proxy will later cancel the previous vote. Shareholders who require assistance in executing a Concerned Shareholder Proxy may call Craig J. Dalziel, ATM President, at 778-732-3339. A copy of the Dissident Circular is available on VanadiumCorp’s SEDAR + profile at www.sedarplus.ca.

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Ignition:
ATM Mining Corp.
Craig J. Dalziel, President
Phone: 778-732-3339

Forward-Looking Statement

Certain statements contained in this news release are forward-looking statements. The words “may”, “will”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar related expressions with concern. Stockholders, VanadiumCorp or the future management of VanadiumCorp, are intended to identify forward-looking statements. These statements reflect the views of concerned Shareholders regarding future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of VanadiumCorp that may be indicated or implied by such forward-looking statements to differ from those described herein if one or more of these risks or uncertainties materialize. These factors include, but are not limited to, general economic and market conditions, changes in laws, actions of competitors, and the ability to implement business strategies and pursue business opportunities.

The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and Concerned Shareholders undertake no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise, as required by law.

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