Vertical Provides 2022 Exploration Program Summary For Newly Acquired Quebec Wollastonite Property

VANCOUVER, BC / January 4th, 2023 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) is pleased to provide a summary of the 2022 Phase 1 exploration program undertaken on its recently acquired Ménard–Péribonka (Ménard) wollastonite property in Quebec (see Vertical’s March 23rd and September 8th, 2022, news releases). The 2022 program’s objective was to detect and define the presence of marble rock zones that could potentially host wollastonite mineralization.

Vertical contracted Magnor Exploration Inc. (Magnor) to conduct and complete the work program on the Menard property between May and September 2022. The Ménard property has an approximate surface area of 2,000 hectares (ha), and is located just north of Lac Saint-Jean in Saguenay, Quebec. The original historical work undertaken on the Ménard property was carried out by Resources Orléans (Orleans) between 1990 and 1992. At that time, Orleans also owned Vertical’s St-Onge Wollastonite deposit which is located 26 km east of Ménard property.

During the 2022 Phase 1 program, extensive exploration work was carried out on numerous historical wollastonite occurrences that were primarily located in the northern part of the Ménard property. From the 648 sites that were visited on the property during the 2022 program, more than 584 samples were taken for geochemical assay for trace elements and major oxide elements. These assayed samples are from grabbing/prospecting (256 samples), channelling (158 samples, 97.72m) and portable drilling (170 samples). More than 59 samples selected for prospecting contained wollastonite, varying from 5 to 67% wollastonite, and these were from sites located primarily in the northern part of the property. Magnor undertook hand-made trenching to reopen the old trenches and complete the channelling work, and this work confirmed the presence of wollastonite-rich rock bands ranging from 5 to 71% wollastonite over a metre to several meters in width (< 3.3m). The mineralized bands persist laterally for several dozen metres right up to 100 meters in length. Some areas in the northern part of the property were evaluated by 46 small bore (BQ) portable drill holes totaling 77.1 metres. The BQ holes were moderately dipped to intersect foliation and mineralization near a right angle to obtain true thicknesses of intersected mineralized intervals. Twenty of these BQ holes intersected wollastonite mineralization, ranging from 5 to 44% wollastonite over hole lengths ranging from 0.30 metres to 5.08 metres. The wollastonite zones identified during the 2022 program can potentially measure up to a hundred meters in width by several hundred meters in length. However, these zones are not homogeneous, and the wollastonite-bearing marble bands are most often intercalated with barren rock bands and/or crosscut by felsic intrusive dike and plug.

Overall, the Company considers the 2022 Menard Phase 1 exploration program to be a success. This is based on the fact that most of the historic wollastonite mineralization results attained by Orléans were confirmed in the field during the 2022 program, and additionally new wollastonite mineralized sites were found both in the northern part and in other parts of the Menard property. Orléans had originally identified a mega wollastonite mineralized zone up to 300 metres wide by 2,000 metres long in the northern part of the property characterized by series of non-continuous outcrops with concentrations ranging from 5 to 40% wollastonite. The 2022 program confirmed this wollastonite mega zone by identifying 18 mineralized zones, of which 14 zones are in the northern block of the property.

Peter P. Swistak, President/CEO of Vertical Exploration Inc., commented: “The Company is pleased to have completed the 2022 exploration program on our newly acquired Menard wollastonite property located near St-Onge, and we are especially encouraged by the strong wollastonite results achieved by our contractor Magnor. Vertical continues to believe that the Ménard property is the most prospective remaining wollastonite property in Quebec outside of the Company’s flagship St-Onge property. Given the strong results encountered during the 2022 Phase 1 work program, Vertical intends to follow Magnor’s recommendation that we continue our exploration work and move forward with a Phase 2 program in 2023 to better define the extent and thickness of the wollastonite mineralized zones identified on the highly prospective Ménard property.”

QUALIFIED PERSON
The technical information contained in this report has been reviewed and approved by Jean-Paul Barrette Géo/ P.Geo, an independent project geologist for Magnor Exploration Inc and consultant for Vertical Exploration Inc. Mr. Barrette is the project geologist on Ménard-Péribonka Wollastonite project. He is a member of the Ordre des Géologues du Québec (OGQ) with the membership number OGQ # 619. Mr. Barrette has sufficient experience (38 years) relevant to the style of mineralization, the type of deposit under study and the activities being undertaken to qualify as a competent person as defined by NI 43-101 Standards of Disclosure for Mineral Projects.

ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the 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.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

Photo 1. Wollastonite-bearing marble, sheared, which graded 49.4% WL over 3.25m, trench TR03 (old one), channels 6 and 7, view to the south

Photo 2. Same wollastonite-bearing marble as in Photo 1, but this photo was taken before trenching and channelling work (site of channel 6 and 7 of trench TR03).

Photo 3. Wollastonite-bearing marble which graded 10% wollastonite over 10.9m included 27.8% wollastonite over 1.6m (channel samples G181151 to G181162, trench TR-08 (old occurrence), channel 1), view to the west.

Photo 4. Picture shows a light green long wollastonite crystal within marble which graded 52.9% wollastonite (grab sample G180668, new occurrence)

Photo 5. Drilling activity using a portable drill

Photo 6. Channelling activity on wollastonite historical occurrence