Mr. Peter Swistak reports

VERTICAL CLOSES FINANCING

Vertical Exploration Inc., further to its news release of June 23, 2023, has closed its oversubscribed private placement of 14.16 million units at five cents per unit for total gross proceeds of $708,000. Each unit consists of one common share and one transferable common share purchase warrant authorizing the purchase of one additional common share at a price of 10 cents per share until June 30, 2025.

In connection with the private placement, the corporation paid a cash finder's fee to PI Financial Corp., an arm's-length party, totalling $12,100 and issued 240,200 common share purchase warrants. Each finder's warrant is exercisable into one common share of the corporation at a price of 10 cents per finder's warrant share until June 30, 2024.

All securities issued under the offering are subject to statutory hold periods expiring on Nov. 1, 2023.

Proceeds of the private placement will be used for general working capital, exploration expenditures and repayment of outstanding receivables.

Although conditionally approved, this offering is subject to TSX Venture Exchange final acceptance.

About Vertical Exploration Inc.

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.