VanadiumCorp updates Vanadium Énergie Nordique with independent assessment of Electrolyte Pilot Plant, Québec

VanadiumCorp Resource Inc. [TSXV: VRB; FSE: NWNA; OTCQB: VRBFF] provided an update on the activities of its wholly owned subsidiary, Vanadium Énergie Nordique Inc. (VEN), including the completion of an independent engineering assessment by Seneca Experts-Conseils Inc. of VEN’s vanadium electrolyte pilot facility located in Val-des-Sources, Québec. The assessment was undertaken to evaluate the facility’s current condition, operational readiness, and capital requirements associated with a potential recommissioning of pilot-scale vanadium electrolyte production and related development activities.

The Val-des-Sources pilot facility was constructed and commissioned in the spring of 2024 as an important component of the company’s long-term strategy to develop a North American vanadium supply chain. The facility was designed to validate electrolyte production technology, support process optimization, and evaluate vanadium electrolyte applications within the emerging vanadium redox flow battery (VRFB) sector. Information generated through pilot-scale operations was intended to support the Company’s evaluation of future electrolyte production and downstream processing opportunities.

In November 2024, VanadiumCorp announced that electrolyte samples produced at its Val-des-Sources pilot facility had successfully met the technical specifications of CellCube, a leading global manufacturer of VRFB systems. At that time, the next phase of qualification was expected to include evaluation of larger production volumes in commercial battery systems by original equipment manufacturers (OEMs).

Following this milestone, the facility was placed on care and maintenance while the company reviewed its corporate objectives, development priorities, and the most effective strategy for its electrolyte and technology assets. This review included evaluating opportunities to expand beyond pilot-scale activities, enhance project economics, attract strategic partners, and position the business for future growth.

To advance these objectives, the company established Vanadium Énergie Nordique (VEN) as a dedicated vehicle focused on electrolyte technology development, product qualification, and participation in the rapidly growing vanadium energy storage value chain.

Through VEN, the company is evaluating opportunities related to the qualification and supply of vanadium electrolyte for use in vanadium redox flow battery (VRFB) systems. Within this entity, VanadiumCorp is pursuing potential strategic partnerships, investments and joint venture opportunities that could support future expansion and create additional value for shareholders.

Over the summer, Seneca Experts-Conseils Inc., an independent engineering and consulting firm engaged by the company, completed a comprehensive assessment of the current facility. Seneca concluded that the facility remains in good condition and identified the work required to support a potential recommissioning.

The assessment includes equipment condition and maintenance requirements, operating and staffing considerations, process equipment verification, available electrolyte inventory, and estimated costs and timelines associated with recommissioning activities. The assessment provides a practical foundation for evaluating a restart of operations and advancing future development opportunities.

The pilot plant currently holds approximately 13,000 litres of high-purity vanadium electrolyte, providing an immediately available resource for product testing, technology demonstrations, and qualification programs with battery manufacturers.

Evaluation of Recommissioning:

The company, through its subsidiary (VEN), is currently reviewing the scope, timing, and capital requirements required to recommission the pilot plant and advance its electrolyte production initiatives. This review includes an assessment of equipment condition and operational readiness, feedstock sourcing options, working capital requirements, product qualification and commercialization activities, and applicable regulatory, permitting, and contractual considerations.

In parallel, VEN is engaging with potential strategic partners regarding opportunities that could accelerate development and commercialization. Discussions may include collaboration with parties offering technical expertise, market access, operational capabilities, or financing. The independent assessment provides a technical foundation for these discussions; however, all opportunities remain preliminary and are subject to further evaluation and mutually acceptable terms.

The electrolyte initiative (VEN) is separate from the exploration and evaluation of VanadiumCorp Resource Inc.’s Lac Doré Vanadium-Iron-Titanium Project. The current pilot plant assessment does not form part of a mineral project evaluation and should not be construed as demonstrating the technical feasibility or economic viability of the Lac Doré Project or an integrated mine-to-electrolyte operation.

Kristien Davenport, President and CEO, commented: “Seneca’s independent assessment confirms the electrolyte pilot plant remains in good condition and provides a clear foundation for evaluating its recommissioning. Through VEN, the facility can support electrolyte development, product qualification with battery companies, and technology demonstrations with strategic partners, subject to technical results and funding.”

Seneca Experts-Conseils Inc. is a Québec-based engineering and consulting firm providing multidisciplinary engineering, project management, industrial consulting, metallurgy, extractive metallurgy, electrochemical process evaluation, and technical advisory services to public and private sector clients.

Vanadium Énergie Nordique was established to advance the company’s electrolyte pilot plant initiative and evaluate opportunities to expand VanadiumCorp’s participation in the vanadium value chain through the production and supply of vanadium electrolyte for energy storage applications. VEN will also assess strategic partnerships and joint venture opportunities to support the development of a vertically integrated vanadium electrolyte business and create long-term value for shareholders.

VanadiumCorp Resource Inc. is focused on advancing critical minerals and precious metals projects in Québec. The company owns 100% of both its flagship Lac Doré Vanadium-Iron-Titanium Project near Chibougamau and the Iron-T Project near Matagami, both of which host vanadiferous titanomagnetite mineralization. Lac Doré is central to the company’s critical minerals strategy, supported by a long exploration history and ongoing geological and metallurgical evaluation. Its portfolio also includes the Lac Laura Gold-Copper property.