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54 www.resourceworld.com A P R I L / M A Y 2 0 2 0 FOR THE RECORD VANADIUMCORP DRILLS 0.69% V 2 O 5 OVER 29.4 METRES VanadiumCorp Resource Inc. VRB-TSXV] announced assay results for another seven drill holes from the its summer-fall 2019 infill and extension drilling program at its Lac Doré vanadium property, as well as Davis Tube magnetic separation testwork results for 19 additional composite samples from six drill holes. Assay results have been reported for 14 out of 35 holes drilled in 2019. Lac Doré is 27 km east-southeast of Chibougamau, Eeyou Istchee James Bay Territory, northern Québec. Historical drilling and surface chan - nel sampling conducted between 1958 and 2013 have revealed the presence within property limits of massive, semi- massive and disseminated bands of VTM mineralization along a 2-km long by 200- metre wide and minimum 200-metre deep corridor. The Lac Doré Vanadium property lies on the southern flank of the Lac Doré anorthosite complex of Chibougamau and straddles the layered magmatic zone, which hosts the VTM mineralization. This layered magmatic zone has been traced by historical geophysics, drilling and map- ping over a linear distance of 20 km. All seven holes intersected signifi- cant VTM mineralization. Best intercepts include: • Hole LD-19-016 intersected 31.6 metres grading 0.66% V 2 O 5 , including 4.0 metres of 0.73% V 2 O 5 ; • LD-19-017 intersected 39.5 metres grad- ing 0.65% V 2 O 5 , including 6.0 metres of 0.77% V 2 O 5 ; • LD-19-020 intersected 7.4 metres grading 0.81% V 2 O 5 (127.7-135.1 metres); • LD-19-025 intersected 52.4 metres grad- ing 0.69% V 2 O 5 , including 11.2 metres of 0.74% V 2 O 5 ; • LD-19-029 intersected 87.3 metres grad- ing 0.64% V 2 O 5 ; • LD-19-034 intersected 31.0 metres grad- ing 0.55% V 2 O 5 , including 10.1 metres of 0.66% V 2 O 5 ; • LD-19-036 intersected 19.1 metres grad- ing 0.58% V 2 O 5 including 8.7 metres of 0.68% V 2 O 5 . Mineralization occurs as layers of mas- sive, semi-massive and disseminated magnetite. Davis Tube magnetic separation testwork on composite samples of VTM mineralized core from drill holes show magnetite contents ranging from ~22% to 62%, and included the following results: 13.7 m of 41.9% magnetics with 1.40% V 2 O 5 (LD-19-001); 9.5 m of 28.3% magnet- ics with 1.58% V 2 O 5 ; (LD-19-002); 9.2 m of 24.6% magnetics with 1.67% V 2 O 5 (LD- 19-005); 12.5 m of 50.4% magnetics with 1.38% V 2 O 5 (LD-19-019); 10.6 m of 61.5% magnetics with 1.10% V 2 O 5 (LD-19-023); and 6.1 m of 21.5% magnetics with 1.70% V 2 O 5 (LD-19-037) Adriaan Bakker, President and CEO, stated, "We feel that these additional assay results are our best to date, and the sec- ond batch of Davis Tube tests continues to show consistent zones where magnetite concentrate grades exceed of 1.5% V2O5. We look forward to more results from drill core assays and Davis Tube testwork over the coming weeks." MANDALAY RESOURCES POSTS FIRST QUARTER RESULTS Mandalay Resources Corp. [MND-TSX; MNDJF-OTCQB] announced production and sales results for the first quarter of 2020. In Q1 2020, Mandalay produced a consolidated 25,677 saleable ounces of gold equivalent and sold 24,276 ounces of gold equivalent. Dominic Duffy, President and CEO, said, "The first quarter of 2020 showed a significant increase in both gold and antimony production as production from the high-grade Youle vein at Costerfield in Australia began to ramp up. Gold and antimony production increased 36% and 62%, respectively, compared to the fourth quarter of 2019. The significant increase in production was driven by the excellent results from Costerfield. The site produced 14,927 saleable gold equivalent ounces, which marks the highest level of produc - tion achieved since the second quarter of 2016. Included within this production was a record 1,108 tonnes of saleable antimony, which is the highest quarterly antimony production the site has ever produced. "We are excited with the realized out - comes from the Youle vein as the mill processed an average head grade of 12.6 g/t and 5.4% of gold and antimony, respectively, over the quarter. These are considerable improvements versus the 2019 full year averages of 5.1 g/t gold and 2.5% antimony. We expect these produc - tion rates at Costerfield to be sustained as the Youle vein becomes the more promi- nent source of ore feed over the remainder of the 2020." Duffy continued, "At Björkdal, first quarter production was in line with the previous quarter, although lower than forecast. This was due to a change out of our major underground haulage contractor, which negatively impacted underground production rates in January and February. With this transition com - pleted we expect to be able to maintain budgeted production rates going forward for 2020. During the quarter we initiated the first production stope in the Aurora Zone and saw positive results when the material was processed. We expect the Aurora Zone to increase production for the remainder of 2020." Duffy concluded, "For now, we are maintaining our existing 2020 production guidance, but we continue to monitor the situation in Australia and Sweden and will make adjustments if necessary." n www.resourceworld.com