Vanadium One Clarifies Press Release

Vanadium One Iron Corp. (“Vanadium One” or the “Company”) (TSXV:VONE) wishes to clarify the Technical disclosures related to its August 11, 2020 press release regarding restricted disclosure per NI 43-101, 2.3(1)(a) – Restricted Disclosure.

In its August 11, 2020 news release, the Company made reference to a targeted resource of + 1 billion tonnes at its Mont Sorcier project. Vanadium One would like to clarify that statement that the aim of the new exploration program is to increase the current resources to between 900 million to 1.1 billion tonnes at grades of between 24-34% magnetite. This is similar to the grade profile of the current resource. Investors are cautioned that this resource target is conceptual in nature at this time and there has been insufficient exploration to define a new mineral resource.

About Vanadium One Iron Corp.:

Vanadium One Iron Corp. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, in Chibougamau, Quebec.

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