Vanadian Energy Intersects 0.22% V2O5 Over 9.74 Metres on the Huzyk Creek Property

VANCOUVER, May 21, 2019 - Vanadian Energy Corp. (the "Company") (TSXV: VEC), is pleased to announce the results from its April 2019 exploration diamond drilling program carried out on the Huzyk Creek Vanadium Property (the "Property").  Drill hole HZ-19-1 encountered 9.74 metres grading 0.22% V₂O₅ within a broader interval of 13.77 metres grading 0.18% V₂O₅. Drill hole HZ-19-2 intersected 14.05 metres grading 0.11% V₂O₅. These two holes define approximately 200 metres of strike along a ground geophysical conductor outlined by historic operators. This geophysical conductor remains open along strike as the lateral extents are not currently known.

The Company completed two holes totalling 745 metres of NQ drill core between March 29^th and April 8^th. Both holes successfully intersected vanadium bearing graphitic metasediments.

Both mineralized intervals are hosted by strongly graphitic metasedimentary rocks with associated sulphides, primarily pyrite and pyrrhotite.  Surrounding the strongly graphitic mineralized metasediments are broad zones of metasedimentary rocks with variable graphite content and anomalous vanadium, ranging from 100 ppm to 827 ppm V₂O₅ over intervals ranging from 0.3 metres to 1.7 metres in length.

Hole HZ-19-1 ended in graphitic metasedimentary rocks containing 523 ppm V₂O₅ over 4 metres.  This suggests that the potential for further vanadium bearing zones continues to the west. It is hypothesized that the parallel historic geophysical conductors in this area may represent the margins of a broad zone of graphitic metasedimentary rocks.  Further work is required to refine this model and determine the potential for additional vanadium mineralization.

Based on comparisons between the geology core logs, assays from the Vanadian Energy Corp. drilling, and photos of the historic NIM19 drill core, the Company is of the opinion that the recent drilling did not twin historic drill hole NIM19 due to uncertainties in the exact location of the historic hole. It appears that HZ-19-1 was set up to the southeast of NIM19. NIM19 intersected 68 metres grading 0.14% V₂O₅ hosted by strongly graphitic metasedimentary rocks across the entire interval.

These results confirm that the graphitic metasediments within the Huzyk Creek Property host potentially significant vanadium mineralization which is a new exploration target in Manitoba.  To the Company's knowledge, no prior exploration has been carried out for this type of vanadium mineralization in the province. The Company plans to continue to define further vanadium targets within the Huzyk Creek Property. 

The Company will post updated maps, sections and additional information to it's website (www.vanadianenergy.com) in the near future. 

Airborne Geophysics

In mid-April the Company carried out a 1,373 line kilometre airborne Magnetics/EM survey over Mineral Exploration License (MEL) 1091A.  The work was completed in late April by Balch Exploration Consulting Inc. using their AirTEM system, with the final report delivered on May 17^th. The airborne survey has identified numerous conductive and magnetic trends which will be used to outline future exploration targets within the Property area. 

Marc Simpson, P.Geo., the Company's President, Director and CEO is the Qualified Person under National Instrument 43-101.  Mr. Simpson has reviewed and approved the technical content of this news release on behalf of the Company.

ABOUT VANADIAN ENERGY CORP.

Vanadian Energy Corp. is an energy minerals focused company headed by an experienced team, well versed in mineral exploration and capital markets. The company is focused on the strategic acquisition, exploration, and development of high quality energy mineral properties in Canada and around the world. Vanadian Energy Corp. is building a leading vanadium focused resource company.

ON BEHALF OF Vanadian Energy Corp.
"Marc Simpson"

Marc Simpson
President and CEO

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company.  Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements.     Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the  risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ).  Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein.  The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. 

SOURCE Vanadian Energy Corp.