May 23 (Reuters) - Vanadiumcorp Resource Inc VRB.V :
* ULTRA POWER SYSTEMS PTY LTD EXECUTES SECOND PAYMENT ACCORDING TO THE PATENT OPTION AGREEMENT FOR THE VANADIUMCORP-ELECTROCHEM PROCESSING TECHNOLOGY IN AUSTRALIA
* VANADIUMCORP RESOURCE - WITHIN NEXT 30 DAYS, ULTRA WILL MAKE LAST PAYMENT ENABLING RIGHT TO FINALIZE TERMS OF LICENSE WITHIN NEXT SIX MONTHS