Welcome to the Sustainable Energy Future Changing how vanadium is made VEPT from virtually any source without carbon *
CARBON FOOTPRINT ELIMINATION
RENEWABLE ENERGY STORAGE “VRFB”
CRITICAL METAL APPLICATIONS
New Method to Produce Vanadium Titanium & Iron
Infinite Reuse of Electrolytes No Footprint No Thermal Runaway No Degradation
Vanadium Batteries HSLA Steel & Alloys Smart Buildings National Defense
*Including recovery of vanadium and vanadium electrolyte from steel slags, oil waste, and calcine tailings from existing vanadium producers
Current Mandates and Pending Developments
End User Validation Sample Production Targeting Commercial Agreements
Global Licensing of VEPT Pending Potential for Non Dilutive Cash Flow
VANADIUMCORP (100% owned) Fe-Ti-V Project developed over 60 years
Strategic VTM (Vanadium Rich Magnetite) Projects Mineralization at surface, Nearby infrastructure
Commercial Demonstration Plant Objective to Expand Process Technology
Corporate Vision Unlocking New Supply
❖ Fostering development of vanadium batteries and new sustainable production methods for vanadium, titanium and iron
Clean Power
❖ Enabling sustainable energy storage for renewable energy with reusable electrolytes
VEPT
❖ Autogenous process utilizes exothermic reaction for magnetite and other sources including waste
Vanadium Process Plant, China
Electrochem, Quebec
What is Possible…
VanadiumCorp ElectrolyteTM
❖ Cost mitigation through leasing infinite reuse product
De-Carbonizing Solutions
with stable & low cost supply
❖ Waste to battery materials Vanadium Battery Gigafactory, Dalian, China ❖ Low carbon and high efficiency alternative to current methods ❖ Cost reduction and stable supply for energy storage
VEPT allows Sustainable Energy Storage Removal of the cost and the carbon footprint of vanadium
VEPT Green Recovery of VE Sustainable & Direct Recovery
VanadiumCorp ElectrolyteTM (VE) Infinite Use Product
Vanadium Redox Flow Batteries “VRFB” “VRB” “VFB”
Solving Industry Challenges Current Production Method for Vanadium
VanadiumCorp-Electrochem Process Technology “VEPT”
High Economic Risk for Primary Mines ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖
Large Capital Investment Limited Recovery of Only Vanadium Reliance on Single Commodity with Volatile Price History High Technical Risk Significant Environmental Impact Carbon Penalties High Electrolyte Purification Cost International Transport Often Required High Failure Rate – Technical Risk Sacrifice of Equity and Long Term Offtake Generally Required
2015
2016
Windimurra Shutdown in Western Australia
Highveld Shutdown in South Africa
VanadiumCorp-Electrochem Process Technology “VEPT”
Fundamental Benefits ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖
Dissolves 95% of vanadiferous titanomagnetite* in solution Recovers vanadium, iron, titanium and silica Relies on sulfuric acid which is available from nearby smelters The sulfation reaction of magnetite is exothermic and allow an quasi-autogenous operation Limited water and energy consumptions Exhibits a negligible carbon foot print Utilizes digesters, crystallizers, centrifuges that are existing industrial equipment Production of copperas allows the seamless vertical integration with the ELECTROCHEM TECHNOLOGIES & MATERIALS INC.
patented electrochemical process ❖ Profitability is ensured because all the metal values are monetized
*Where over 90% of vanadium is derived globally
Our Challenges and Objectives ❖ To extract vanadium while also recovering iron, titanium and silica ❖ To be applicable to a plethora of vanadiferous feedstocks ❖ To utilize affordable chemicals
❖ To rely on a nearby source of chemicals and raw material ❖ To limit both water and energy consumptions ❖ To minimize the carbon foot print ❖ To use existing industrial equipment ❖ To implement a cost affordable and proven technologies ❖ To allow the seamless vertical integration with ELECTROCHEM TECHNOLOGIES & MATERIALS INC. patented electrowinning process ❖ To facilitate a rapid implementation commercially ❖ To become highly profitable by monetizing all metal values
Joint Partnership Strategy SECURING DISRUPTIVE TECHNOLOGIES • •
Co-ownership (50%-50%) for the new patent pending technology for efficiently converting VTM into VE without slagging, smelting and roasting. Fully integrated approach with the subsequent recovery of pure iron using exclusive Electrochem Technologies & Materials Inc. patented iron electrowinning technology now enforced in Canada and global jurisdictions.
COST EFFICIENT & RAPID TESTING CAPABILITIES •
Electrochem’s comprehensive in-house testing capabilities allowing the rapid, cost efficient and strictly confidential testing of the fully integrated process without disseminating the know-how across various R&D entities.
STRONG VANADIUM METALLURGY EXPERTISE •
Benefits from extensive Electrochem’s metallurgical and chemical know how and expertise regarding the processing of vanadium from various feedstocks
CONSERVATIVE INDUSTRIAL APPROACH •
Conservative step-by-step approach : laboratory screening tests, prototype tests, semi-pilot testing with each milestones backed by additional basic engineering calculations and preliminary costs and benefits analysis to support decision towards future implementation
JOINT APPROACH WITH INDUSTRIAL PARTNERS •
Allowing the identification of key financial, engineering and industrial partners.
GLOBAL LICENSING OPPORTUNITIES • •
The US and International Patent Pending Process has significant potential for cash flow for both companies with near term licensing/royalty streams Disruptive technology for phasing out blast furnace technology for iron making and roasting for vanadium production or enhancing existing operations
“Phasing out current production methods for Vanadium, Titanium and Iron”
Current Carbon Footprint 2 Tons Carbon/One Ton Product
Achievements ❖ Prototype and semi-pilot campaigns completed ❖ Recovery of vanadium, iron, titanium and silica ❖ Sulfuric acid consumption close to stoichiometry ❖ Recovery of iron values as pure copperas ❖ Recovery of vanadium values either as vanadyl sulfate, vanadium chemicals or vanadium pentoxide ❖ Benchmarking of other vanadiferous feedstocks ❖ Testing and trial production commenced on full spectrum of global feedstocks
Flowsheet Comparison
Simplified Processing Flowsheet (Magnetite) TECHNOLOGY PARTNERSHIP
V2O5, V2O3, VanadiumCorp ElectrolyteTM
Direct Ship Magnetite “DSM� -to VTM Concentrate
VEPT: VTM Concentrate -toVanadium solution US provisional patent application (US 62/463,411
Electrowinning of iron and recycling of products International Patent Application WO 2009/124393 (A1), Canadian Patent CA 2,717,887 C, Chinese Patent CN 102084034 B, Japanese Patent JP 5469157 B2, South African Patent 2010/07214, European Patent Application EP 2268852 A4, Brazil Patent Application BRPI 0911653 A2, Patent Application 2216/MUMNP/2010, United States Patent Application US 2011/00089045 (A1)
VanadiumCorp Resource Inc.
Titanium dioxide Co-products
VanadiumCorp Resource Inc./Electrochem Technologies & Materials Inc. Electrochem Technologies & Materials Inc.
VanadiumCorp Resource Inc.
All produced commodities property of VanadiumCorp, technology and patent partnerships are subject to terms and conditions agreed by disclosed parties. Stock photos above are for illustration purposes only, VanadiumCorp ElectrolyteTM is a registered trademark of Vanadiumcorp Resource Inc .
VEPT Product Visual Flowsheet
VEPT Process Flowsheet
Strategic Advantages Magnetite Concentrate
Size, grade, quality, access & infrastructure 100% owned assets – Offtake ready
Direct and integrated processing technology for multiple feedstocks Maximum Recovery Global licensing and supply opportunity Unlocking New Global Supply Negligible Carbon Footprint
Green Metal Production
Strategic Vanadium Supply In mining friendly Quebec, Canada
Two of the leading global vanadium projects with unparalleled metallurgy iron and titanium mineralization now all recoverable with VEPT
Lac Dore P2 Zone Pictured
Magnetite “VTM”
Two Massive Magnetite “VTM” Projects
Iron-T VTM Project
Lac Dore VTM Project Adjacent to Blackrock Metals Largest Geophysical Footprint in Region
14,376,000 tonnes VTM
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
100% Owned NI 43-101 Inferred Vanadium Rich Magnetite Resources Hosted in Iron and Titanium Surface Mineralization Favorable Metallurgy Available Workforce Community & Government Support +95% Recovery with VanadiumCorp-Electrochem Process Technology
Infrastructure Electrochem
Technologies & Material Inc.
Mining Centres
Low Cost 161kV Power
CN Rail
Nearby Port
Lac Dore Vanadium Project Highlights Local Transformation Potential ❖ ❖ ❖ ❖ ❖
All metals recoverable with VEPT (V, Fe, Ti) Negligible carbon footprint Low energy requirement Direct ship magnetite “DSM” objective Green and local processing alternative to expensive and pollutive smelting and salt roasting
2014 CLAIM EXPANSION
VANADIUMCORP (100% owned) Fe-Ti-V Project developed over 60 years
Size, grade, & unrivaled quality ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖
NI 43-101 technical report At surface VTM mineralization Largest geophysical footprint in region 100% owned, free of royalties 95%+ recovery from concentrate Spans 45km2 Open at depth and along strike Favorable metallurgy 2002 SGS Pilot plant achieved 99.9% V2O5 Vanadium Electrolyte
Location ❖ ❖ ❖ ❖
Mining friendly Quebec, Canada 30 minute drive from established mining center Adjacent to mine permitted project (non NI 43-101, ½ wide extension of VanadiumCorp) Available highway, road, CN railway, 161KV power, water, cellular & workforce
*In magnetite concentrate
Mineralization at Lac Dore – Geomagetic Survey
❖ ❖ ❖ ❖ ❖
Mine Permitted Private Company Environmental Study Complete $1B+ Funding in Progress Smelter Process
❖ ❖ ❖ ❖ ❖ ❖ ❖
VEPT Licensing Pending Publicly Traded TSX-V “VRB” Largest Geomag Signature in Region Over 60 years of development 100% owned, DSM Objective No Concentrator Required Green Recovery Process
Ideal Location for VEPT Commercial Plant, Chibougamau, QC
James (Jim) A. MacLeod – Regional and Cree First Nations advisor President of J.A. MacLeod Exploration and EnviroCree Ltd and regarded as a leading mining exploration technologist. Founder of the Mistissini Geological Resources Centre and former Mistissini chief of police. Jim works closely with aboriginal communities as a consultant on projects and training in mining exploration.
Rich History of Lac Dore Vanadium Project Over $30M CDN of previous work including extensive metallurgical testing
Over $25M
East Deposit 54 Drill holes
35 Channel trenches Former Quebec government project
West Deposit
2002 Pilot plant achieved 99.9% Vanadium Battery Electrolyte
East Deposit
110,000
90,000
70,000
Metric Tons V per Year
Vanadium Consumption Increasing
150,000
2025e, 133,205 130,000
50,000
30,000
2025e 2024e 2023e 2022e 2021e 2020e 2019e 2018e 2017 2016
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005
2004 2003 2002 2001
Growth factors & Applications
Chemicals Energy Storage - Reusable Vanadium Electrolyte (VE) - Grid scale vanadium redox battery (VRFB) - Lithium-vanadium battery for electric vehicles
- Catalysts for sulfuric acid and synthetic rubber production - Critical component in catalytic converter to remove sulfur dioxide - NOx catalysts - Vehicle catalyst alternative for platinum and nickel
Steel Alloys -
High strength low alloy steel (HSLA) High Carbon steel alloys (HSS) Rebar and structured beams High speed tools and surgical instruments
Titanium alloy - Ti-6Al-4V in airframes, jet engines and personal transports - Pigments - Dental implants
Vanadium is a Green Alloy “Carbon Negative” Steel & Alloy Strengthener
Highest strength to weight ratio of any alloy ❖ Vanadium reduces environmental impact and lowers capital requirements. Just 0.05% in steel can double yield strength and decrease structural weight by 30-40%. ❖ 92% of global vanadium production utilized in high-strength low alloy (HSLA) steels. ❖ 6.2% CAGR demand increase since 2005 from increasing steel standards & environmental mandates
Dr. Maria Skyllas-Kazacos, Inventor of VRB VanadiumCorp Scientific Advisor ❖ ❖ ❖ ❖ ❖
Graduated from UNSW with an Industrial Chemistry Engineering degree in 1974 Completed her PhD in 1978 at the UNSW School of Chemical Technology. Awarded the Royal Australian Chemical Institute’s Bloom-Gutmann prize Filed first patent for all Vanadium Redox Flow Battery in 1986 The Vanadium Redox Battery (VRFB) is regarded internationally as one of the most feasible energy storage technologies available. The battery helps reduce fossil fuel consumption and greenhouse gas emissions by meeting the growing need for efficient renewable energy storage. “Achieving cost reduction is a big focus now. There are many different ways of doing it in the scientific sense – not only with cheaper, lower-cost materials but also improving the performance of batteries.” Maria-Skyllas-Kazacos
Vanadium Redox Flow Battery: How it works A vanadium redox flow battery (VRFB) is a type of rechargeable flow battery where rechargeability is provided by vanadium electrolyte (VE) dissolved in solution.
Two tanks of VE, one side containing V2+ and V3+ ions, the other side containing V4+ and V5+ ions, are separated by a thin proton exchange membrane Pumps on both sides circulate the electrolyte
No cross-contamination like most batteries Electrolyte in the catholyte and the anolyte consists of 100% vanadium ions. The ion sensitive membrane separating both sides of the electrolyte tank allows only protons to pass
Electron differential between the two cells generates electric power
3 Year Spot Price V2O5 Vanadium Pentoxide Flake 98% Price USD/lb Commodity Price Outperforming All Other Battery Materials
Current Challenges for Vanadium Based Energy Storage Global Inventory of Vanadium (Reliant on Smelting and Roasting)
Vanadium Price Volatility
Controls Economics of Vanadium Batteries
Vanadium Electrolyte
Current Production Cost Factors of Vanadium Electrolyte ❖ ❖ ❖ ❖ ❖ ❖
Oxide is poor feedstock Conversions Purification Import/Export Tariffs Shipping Costs No standardization
Vanadium Redox Flow Battery Component Cost
Vanadium and Lithium Projections Vanadium Consumption in Energy Storage 35,000 30,000
20,000 15,000 10,000
5,000
VRB
TTP Squared, Inc.
Li Ion
2020 Fcst
2019 Fcst
2018 Fcst
2017 Fcst
2016 Fsct
2015
2014
2013
2012
-
2011
MTV/yr
25,000
Canadian Government Collaboration
Assessment of vanadium electrolyte for vanadium redox flow batteries.
The National Research Council of Canada and several universities across Canada are working on several initiatives including the following ❖ Vanadium Electrolyte Research & Development ❖ Vanadium Process Technologies ❖ Cost reduction of VRFB electrolyte and components
De-Carbonizing Solution
Current Production Methods + Coal for Energy
Statistics ❖ Over 50% of pollution is related to coal or steel production ❖ Beijing's air is the equivalent to smoking forty cigarettes a day ❖ Air pollution kills 4,000 a day in China and 12% of global deaths ❖ Energy storage remains expensive with large carbon footprint
VEPT Production Method + Vanadium for Energy Storage
Statistics ❖ Direct Recovery of Iron, Vanadium & Titanium sustainably, with half the energy using VanadiumCorp Electrochem Technology ❖ Dedicated and cost efficient reusable vanadium supply for sustainable energy storage, smart technologies, robotics + lighter steel and alloys
Corporate Summary Market Statistics ($CDN)
Historical Share Price (TSX Venture: VRB)
Capitalization Structure Share Price as of March 20th 52 Week High 52 Week Low Share Outstanding Warrants ($0.06-0.10) Options ($0.10-0.12) Fully Diluted Debt Market Capitalization
$0.12 $0.18 $0.05 227,588,798 74,000,000 15,600,000 317,188,798 0 $27,310,655
Chinese steel producers flood market with vanadium @ USD$2/LB
VanadiumCorpElectrochem Patent Applications and Development
Management Takeover by Proxy
Corporate Structure VTM Resources VanadiumCorp Resource Inc.
*50%
Disruptive Process Technology
Process Technology
Joint partnership with Electrochem Technologies and Materials Inc.
Royalties/Cu-Au Assets
Green Process technology A new method of vanadium, iron and titanium production
NI 43-101 VTM Projects Lac Dore Project: Strategic VTM Project adjacent to Blackrock Metals Inc. Iron-T Project: Strategic VTM Project connected to mining centre of Matagami
The key to unlocking global Vanadium Supply‌ Vanadium cost and carbon footprint mitigation 2018 Commercial Demonstration Objective: Global Licensing, Canadian pilot plant expansion *Buyout provision pertaining to IP/patents
Development Timeline 2007 2008 2009 2010 2011 2013 2014 2015 2016 2017 2018
Lac Dore Vanadium Project Acquired (former crown asset) Iron-T Vanadium Project Acquired (former Noranda project) Development diamond drilling on Iron-T
Ni-43-101 Resource Statement on Iron-T + Development diamond drilling Lac Dore Award & Ni-43-101 Resource Statement on Iron-T
Management transition by Proxy Ni 43-101 completed on Lac Dore
NI 43-101 field work and verification on Lac Dore and Iron-T Mandate to develop a sustainable production alternative Invention, patent applications, prototype and trial production of VEPT Mandate to commercialize VEPT through global licensing and Canadian demonstration plant expansion.
Board of Directors
Adriaan Bakker
President, Chief Executive Officer An entrepreneur in mining, Adriaan spearheaded the acquisition and development of the Company’s vanadium assets and built a world class team. Adriaan chose to address significant industry challenges that resulted in the partnership, invention and development of an innovative process technology by Electrochem that has created the path to a sustainable energy future.
Sokhie Paur
Director 30 years experience in the public markets, including mining, oil and gas, technology, education and clean energy sectors since 2001. Before joining VanadiumCorp, Mr Paur was the former CEO, President, Director and Chairman of Candelaria Mining Corp. which raised in excess of $28 million and acquired several mining projects in Mexico during his tenure.
Stephen Pearce
CFO, Corporate Secretary Experience in mining and law includes global mine management and operations. Specializing in corporate and securities law, he received his law degree from the University of British Columbia and an Honours Bachelors Degree in economics from York University with an emphasis on corporate finance.
John Hewlett
Director, Business Development Strategically invested in the resource market for the past 30 years and one of the largest investors in VanadiumCorp. He is known for his practical approach to direct investment, project development and his mandate for strict corporate governance.
Technical Team and Advisory Board Terry Perles
Vanadium Sales & Marketing The world’s leading vanadium authority handling global sales and marketing for the leading producers of vanadium, molybdenum & titanium worldwide.
Dr. Gilles Champagne Electrochemical Engineer
A VRFB specialist driving innovations to market that includes successful deployment of vanadium based ESP units to India. Career positions include chief technology officer and chief engineer to various VRFB companies
Denis Bouchard
Steel Specialist A specialist in the fabrication and installation of structural steel in the commercial, industrial and institutional sectors. Strategic investor in VanadiumCorp's Lac Dore Project since 1997.
Dr. Maria Skyllas–Kazacos
Professor Emeritus and VRFB Inventor Official inventor and pioneer of the Vanadium Redox Flow Battery (VRB,VFB,VRFB) technology now commercialized in China, Japan, Europe, Korea and North America.
James A. MacLeod
Explorationist and Cree First Nations Advisor President of J.A. MacLeod Exploration and EnviroCree Ltd. and regarded as a leading mining exploration technologist. Jim works closely with aboriginal communities as a consultant on projects and training in mining exploration.
Mark Reynolds
Strategic Advisor Mark is a co-founder of Mineral Development Advisory Group (“MINDEV”), which consults to advanced stage mining projects globally to realize their production goals. Mark is a currently a director of Ultra Power Systems.
Joint Technology Partner
Electrochem is private Canadian corporation that invents, develops, patents, scales-up and commercializes proprietary chemical, metallurgical and electrochemical technologies that are innovative, and sustainable. Electrochem owns the exclusive rights for its patented iron electrowinning process worldwide. The company also manufactures electrolyzers, industrial electrodes and produces tantalum and tungsten fine chemicals.
US Provisional Patent Application: 62/463,411 and 62/582,060 International Patent “PCT” Application: PCT/CA2018/050196 © Dr. François CARDARELLI
Filed: June 24th 2017 Filed: February 21st 2018
For additional information:: www.electrochem-technologies.com
Joint Technology Partner
Private corporation established in 2010 reinvesting its own cash flows to expand capabilities
Four patented technologies: ❖ Electrowinning of iron from copperas and ferrous sulfate(s) ❖ Production of tantalum and niobium from ores and concentrates ❖ Recycling of rare earth from fluorescent light bulbs Co-patent pending technology with VanadiumCorp Resource Inc. ❖ Vanadium recovery from magnetite and other feeds
Manufacturer of industrial electrodes Producer of tantalum and tungsten fine chemicals Fully equipped facilities with capabilities: ❖ Electrochemical processes ❖ Hydrometallurgical processes ❖ Pyrometallurgical processes ❖ Processes in molten salts © Dr. François CARDARELLI
For additional information: www.electrochem-technologies.com
Disclaimer THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY VANADIUMCORP RESOURCE INC. (THE “COMPANY”) AND MAY NOT BE REPRODUCED IN ANY FORM OR FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE. FAILURE TO COMPLY WITH THIS RESTRICITON MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries nor should it or any part of it, not the fact of its distribution, form the basis of, or relied on in connection with, any contract or commitment whatsoever. This presentation has been prepared by, and is the sole responsibility of, the Company. This document, any presentation made in conjunction herewith and any accompanying materials are for information only and are not a prospectus, offering circular or admission document. This presentation does not form a part of, and should not be construed as, an offer, invitation or solicitation to subscribe for or purchase, or dispose of any of the securities of the companies mentioned in this presentation. These materials do not constitute an offer of securities for the sale in Canada, the United States or elsewhere or an invitation or an offer to the public or form of offer or commitment whatsoever. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or the opinions contained herein. The Company and its advisors are under no obligation to update or keep current the information contained in this presentation. To the extent allowed by law, none of the Company or its affiliates, advisors or representatives accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. Certain statements in this presentation constitute forward-looking statements, including statements regarding the Company’s financial position, business strategy, plans and objectives of management for future operations. These statements, which contain the works “believe”, “expect”, “anticipate”, “intends”, “estimate”, “forecast”, “project”, “will”, “may”, “should”, “could”, and similar expressions, reflect the beliefs and expectations of the management board of directors of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company’s recent acquisitions, the timely development and acceptance of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation. The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice. This document has not been approved by any competent regulatory or supervisory authority.
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