Exploring for Canadian Vanadium October2018

Cautionary Statement

•  Thispresentationcontainsforward-lookinginformationaboutVanadianEnergywithinthemeaningoftheSecuritiesAct(BritishColumbia).Forward-lookinginformationrelatestofutureeventsorfutureperformanceandreflectVanadianEnergy’sexpectationsregardingthefuturegrowth,resultsofoperations, business prospects and opportunities of Vanadian Energy. This information reflects Vanadian Energy’s current internal projections,expectationsorbeliefsand isbasedon informationcurrentlyavailable toUracan. In somecases forward-looking informationcanbe identifiedbyterminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”,“forecast”,“budget”orthenegativeofthosetermsorothercomparableterminology.ManyoftheseassumptionsarebasedonfactorsandeventsthatarenotwithinthecontrolofVanadianEnergyandthereisnoassurancetheywillprovetobecorrect.Forward-lookinginformationissubjecttoavarietyofknownandunknownrisks,uncertaintiesandotherfactorsthatcouldcauseactualeventsorresultstomateriallydifferfromthosereflectedin the forward-looking information, and is developed based on assumptions about such risks, uncertainties and other factors including, withoutlimitation: fluctuations in precious and base metal prices; inherent hazards and risks associated with mining operations; inherent uncertaintiesassociatedwithmineralexplorationanddevelopmentactivities;uncertainties inherent in theestimationofmineral reservesand/or resourcesandpreciousmetalrecoveries;uncertaintiesrelatedtoactualcapitalcosts,operatingcostsandexpenditures,productionschedulesandeconomicreturnsfrom Vanadian Energy’s projects; uncertainties related to current global financial conditions; uncertainties related to the availability of futurefinancingnecessary toundertakeexploration,development,miningandprocessingactivitiesonVanadianEnergy’sproperties; risks related to theintegrationofbusinessesandassetsacquiredbyUracan;uncertaintiesrelatedtothecompetitivenessofthemining industry; risksassociatedwithVanadianEnergybeingsubjecttogovernmentregulation,includingchangesinlawandregulationandrisksassociatedwithVanadianEnergy’sneedfor governmental licenses and permits; risks associated with Uracan being subject to extensive environmental laws and regulations, including achange in regulation; risks that Vanadian Energy’s title to its property could be challenged; risk of water shortages and risks associated withcompetition for water; Vanadian Energy’s need to attract and retain qualified personnel; increases in off-site transportation and concentrateprocessingcosts;risksrelatedtotheneedforreclamationactivitiesonVanadianEnergy’sproperties,includingthenatureofreclamationrequiredanduncertaintyofcostsestimatesrelatedthereto;risksassociatedwithpotentialconflictsofinterest;risksassociatedwithpotentiallabourdisputes;andrisks associated with potential blockades of mining operations as well as “Risks and Uncertainties” included in theMD&A for Vanadian Energyavailableatwww.sedar.com.Forward-lookinginformationisnotaguaranteeoffutureperformanceandactualresultsandfutureeventscoulddiffermateriallyfromthosediscussedintheforward-lookinginformation.Alloftheforward-lookinginformationcontainedinthispresentationisqualifiedbythesecautionarystatements.AlthoughVanadianEnergybelievesthattheforward-lookinginformationcontainedinthispresentationarebasedonreasonableassumptions,readerscannotbeassuredthatactualresultswillbeconsistentwithsuchstatements.Accordingly,readersarecautionedagainst placing undue reliance on forward-looking information. Uracan expressly disclaims any intention or obligation to update or revise anyforward-lookinginformationcontainedinthispresentation,whetherasaresultofnewinformation,eventsorotherwise,exceptinaccordancewithapplicablesecuritieslaws.TheinformationcontainedhereindoesnotconstituteanofferofsecuritiesforsaleintheUnitedStatesandsecuritiesmaynotbeofferedorsoldintheUnitedStatesabsentregistrationorexemptionfromregistration.

•  Marc Simpson, President andCEO, aQualifiedPersonasdefinedbyNational Instrument 43-101, hasapproved the scientific and technical information regarding Vanadian Energy Corp. discussed in thispresentation.

Management and Directors

•  CliveJohnson –Chairman/Director–PresidentandCEO,B2Gold

•  MarcSimpson –PresidentandCEO

•  TomGaragan –Director–SeniorVPExploration,B2Gold

•  JessicaVanDenAkker –CFO–VPCorporateFinance,FioreManagement&AdvisoryCorp.

•  GordonKeep –Director-CEO,FioreManagement&AdvisoryCorp.

•  MarkCorra –Director–FormerSeniorVPFinanceandCFO,B2Gold

•  JaySujir –Director–Partner,FarrisVaughanWills&MurphyLLP

Why is Vanadium Important?

CurrentMarket•  >90%isusedinsteelproductionforaddedstrengthandlowerweight

–  IncreasingdemandduetochangesinChinaconstructionregulations•  NewChinesesteelrebarregulationstoimprovesteelstandardsandquality,ineffect

October2018.•  Chinanowrequireshighertensilestrengthrebarwithgreaterearthquakeresistance•  Steelproducersneedtosignificantlyincreasevanadiumcontentinrebar

•  PipelinesutilizehighVcontentSteel•  Automotiveframes(V-FeandV-Alalloys)–lighterweight•  Aerospace(V-TiandV-Alalloys)

•  airframes,jetengines•  Catalysts–PetrochemicalIndustry•  Glass,ceramicsandpigments•  Mainproducers:China,SouthAfrica,Russia,Brazil

–  DecreasedChineseproductionduetoenvironmentalconcernsandeconomicreasons–  NocurrentNorthAmericanproduction–  CurrentWorldconsumption~80,000t/yr(Source:USGSReport2015)

New Uses, New Markets VanadiumRedoxBatteries

•  VanadiumRedox-flowbatteries–Largescaleelectricitystorage

•  SIGNIFICANTMARKETGROWTHPOTENTIAL–VanadiumBatteryIndustryisinit’sinfancy

–  LargescaleinstallationsexistingorbeingbuiltinChina(200MW),US(1-100MW),Australia(1-5MW)–  BenchmarkMarketIntelligencebelievesupto25%oftheenergystoragemarketisupforgrabsin2028if

vanadium’ssupplychainchallengesbesolved–  Benchmarkforecaststhattheoverallenergystoragemarketwillthenbebetween100GWto120GWin

sizeby2028.(Source:BenchmarkMineralsBlog,September2018)

ModularV2O5RedoxflowbatteryinstallationWashingtonState

Early Stages of a Developing Story

“Ifavanadiumbatteryproducerstepsforwardwithboldplanstoproducevanadiumflowatmassscale,givingtheindustryitsElonMuskforlithiumionmoment,thepotentialforthetechnologytobethesecondmostdeployedEnergyStorageSystembatteryintheworldisthere.”(SimonMoores,BenchmarkMarketIntelligence2018InvestorsForum)

Vanadium Pricing (V2O5)

V2O5ispreferredsupplysourceforredoxbatteries

V2O5Price(September2018)–US$18.80/lb

Vanadium Deposit Size vs. Grade

•  4majorVanadiumproducers(pluslesserbyproductfromslagandoilproduction)-  Mostadvancedprojectsrangefrom0.2%to0.75%V2O5

-  MajorityofprojectsareintrusivehostedwithFeandTiassociation-  Shalehosteddepositsareoftenlargerandcomparablegradetointrusivehosted-  GraphiticmetasedimentaryhostedVdepositsarerareandunderexplored

Huzyk Creek Property

•  HuzykCreekProperty=447Km2

•  75KmSEofSnowLakeManitoba-  Miningcommunitywithexperiencedworkforceandminingsuppliers

-  ProvincialHighwaycrossesproperty

-  Powerlinecrossesproperty-  Railwayapproximately10Kmnorthofproperty

-  Activeindustrial(gravel,forestry)operationsinarea

•  MiningFriendlyJurisdiction

Huzyk Creek Highlights

•  BroadVanadiumzoneencounteredinasingledrillhole(1997)testingforNi-CuMineralization.

•  Geophysicalanomalyinitiallyexplainedasgraphiteandsulphides,assayedforNi,CuandZn,widelyspacedgeochemicalsamplingwithanomalousVnotedbutnotfollowedup.

•  Drillholeresampledbypropertyvendor;assayresultsdefine68metresof0.14%V2O5from162-234metresdownhole;highestgradeinterceptwas0.60%V2O5over0.6metres

•  Openinalldirectionsincludingdownhole

•  Manitobaassessmentfilesindicatesthatotherhistoricdrillholeswithinthepropertyareaencounteredanomalousvanadiumindrillingupto0.2%V205;definedbyverylimited,widelyspacedsampling.

Mineralization

•  Mineralizationappearsrelatedtographiteandsulphidebearingmeta-sedimentswithlowtitaniumandmoderateironcontent.

•  GreenGiantdepositinMadagascaristhebestknowndepositofthistype.IndicatedResource:49.5Mt@0.693%V2O5=756.3MlbsV2O5*

•  Firstconfirmedoccurrenceofvanadiuminmetamorphosedsediments(argillite)inManitoba.

•  HistoricexplorationfocusonNi-Cu-Znmineralizationonly

•  VanadiummineralizationcoincidentwithagroundEMconductor>1.5kmlong;Openalongstrike.AssociatedAirborneGeophysicalanomaly>20kmlongbasedonhistoricassessmentfiledata

*Source:NextsourceMaterialswebsite

Geology

•  MetamorphosedSedimentswithgraphiteandsulphides

•  Stronggeophysicalsignatureassociatedwithgraphiterichzones

•  StrongtargetingvectorsforVanadiummineralization

•  ExcellentgeologicaldatabaseinManitoba

2018/2019 Proposed Exploration

2018ExplorationBudget

AirborneEM/ResistivitySurvey(Fall2018) $250,000

2019ExplorationBudget

DiamondDrilling $750,000

Share Structure (October 3 2018)

ShareCapitalization(PostConsolidation) Issued Common Shares 26,486,150 Stock Options 2,436,250

Fully Diluted 28,922,400

For Further Information

Phone: +1.604.506.6996

Email: info@vanadianenergy.com

Vanadian Energy Corporation TSX.VVEC

3123–595BurrardStreetVancouverBC

V7X1J1Tel:(604)506-6996

Email:info@vanadianenergy.com