Mr. Peter Swistak reports

VERTICAL CLOSES FINANCING

Further to the news release of Dec. 11, 2023, Vertical Exploration Inc. has closed its private placement of 9.46 million units at five cents per unit for total gross proceeds of $473,000. 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 13, 2025. The warrants are subject to an acceleration clause, in the event that the trading price of the shares on the TSX Venture Exchange market reaches 25 cents or more for a period of 10 consecutive trading days, the corporation may, at its option, accelerate the warrant expiry date by delivery of notice to the registered holders thereof and issuing a press release, and, in such case, the warrant expiry date shall be deemed to be 5 p.m. Vancouver time on the 30th day following the later of: (i) the date on which the acceleration notice is sent to warrantholders; and (ii) the date of issuance of the warrant acceleration press release.

In connection with the private placement, the corporation paid cash finders' fees to arm's-length parties, totalling $20,655 and issued 413,100 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 Dec. 13, 2024.

All securities issued under the offering are subject to statutory hold periods expiring on April 14, 2024.

Proceeds raised from the offering will be used to advance the company's St. Onge project in Quebec, for research and development, for general working capital, and for unallocated funds as per Tier 2 status requirements.

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

About Vertical Exploration Inc.

Vertical'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.