Mr. Michael Williams reports

VORTEX METALS TO ACQUIRE UP TO AN 80% INTEREST IN COMPELLING COPPER PROJECT IN CHILE

Vortex Metals Inc. has entered into a non-binding letter of intent (LOI) for an option to acquire up to an 80-per-cent interest in the Illapel copper project, with SCM Ventana Minerals Group, a Santiago, Chile-based mining company. The parties have agreed to a 90-day exclusivity period to negotiate the definitive agreement.

Illapel copper project highlights:

• Favourable geology extends north and south from the mineralization at the Rio 27 mine;
• Exploration permits obtained for drilling and exploration;
• High-priority drill-ready targets identified;
• Access to paved roads, power grid and water;
• 8,000-hectare prospective land package;
• Adjacent to the Rio 27 mine and processing plant;
• Year-round drilling;
• Low elevation -- 1,500 metres above sea level.

"I believe that the Illapel project combined with our two Mexican copper-gold assets provides Vortex stakeholders with a rare opportunity. Given the geological settings, all three projects possess the potential to be transformative," said Vortex chairman and founder Michael Williams.

Project overview

The Illapel copper-gold project is located in the Commune of Illapel, Choapa province of the fourth region of Chile, and is 250 kilometres north of Santiago. The nearest town is the mining centre of Illapel located 35 kilometres away. The project has excellent infrastructure connecting paved roads, electricity and mild climate favourable to year-round exploration. Illapel is fully permitted for exploration, and drilling may potentially commence immediately following the execution of the definitive agreement.

The region surrounding Illapel has seen extensive mining activity, both past and present. Of particular note, the El Espino copper-gold (iron oxide copper-gold (IOCG)) project (engineering feasibility complete; awaiting environmental permits) is located approximately 14 km to the north, and is presently planned for development by Pucobre. Several small gold and copper mines also operate in the immediate area.

Rio 27 mine

The Illapel project is adjacent to an existing mining operation owned by Ventana Group and known as the Rio 27 mine. The Rio 27 mine has been in production since 2010 with its near-site processing plant. Ventana has advised that to date, approximately 400,000 tonnes of mineralized material with an average grade of 1.39 per cent copper have been processed at site. The LOI provides a right of first refusal (ROFR) on the Rio 27 mine and processing facility.

Vikas Ranjan, chief executive officer and a co-founder of Vortex Metals, stated: "Vortex Metals is thrilled to announce the option to acquire a highly prospective exploration project, adjacent to, and extending from, an existing mining operation. Chile is the largest copper producer in the world, accounting for approximately 28 per cent of global copper production. In our view one of the best ways to make a discovery is to explore by an existing mine. We believe that with the Illapel copper property, we will acquire an extremely prospective project that is drill ready."

Geology and mineralization

At Illapel, stratabound mineralization of copper (chalcocite and bornite) and silver is hosted in Jurassic and Lower Cretaceous continental sedimentary and volcaniclastic rocks to the east of the Manquegua fault. The Manquegua fault is a regional feature separating the Farellon Sanchez intrusive formation to the west from the sandstone volcano-sedimentary formations to the east where the Rio 27 mine is located. Mineralization in the Rio 27 mine is cupro-argentiferous with primary chalcocite and bornite hosted in mantos, veins and lesser breccias.

Exploration

Mineralization at the Rio 27 mine is associated with north-northeast-trending structures and felsic dikes where they are intersected by west-northwest-trending structures and ocoite (andesite porphyry) dikes. A vertical control is also present, with certain stratigraphic units being more favourable to manto-style mineralization. The favourable geology extends immediately north and south from the mineralization at Rio 27, and comprises high-priority targets that may be tested early in the program.

The favourable structure and dikes, with crosscutting ocoite and associated copper oxides, are found at multiple locations within the project area, and represent high-quality targets for exploration and drilling.

Finally, gold-bearing epithermal veins are found in the western portion of the project area, and represent additional targets for exploration and drilling in and of themselves.

Terms and conditions of the Illapel copper deal

The transaction is subject to several conditions including the negotiation of a definitive agreement and the approval of the TSX Venture Exchange. The parties have agreed to a 90-day exclusivity period to negotiate the definitive agreement. The material terms and conditions of the non-binding LOI are as follows:

Stage 1 -- 60-per-cent interest

Vortex will have the right to earn a 60-per-cent interest in the Illapel project by making cash payments, issuing Vortex shares and incurring exploration expenditures in accordance with the attached schedule.

Stage 2 -- additional 20-per-cent interest (80 per cent total)

Following the exercise of the first option, Ventana will grant Vortex an option to earn an additional 20-per-cent interest in the project by completing a feasibility study on the project. The second option will be deemed to be validly exercised upon the completion of the feasibility study on the project as described above.

Once Vortex exercises the second option, it will arrange project financing for 100 per cent of the project, including Ventana's share of 20 per cent which will be recovered from commercial production.

Ventana will also be granted a net smelter royalty (NSR) of 2.5 per cent on the entire project, encompassing all mining claims subject to this agreement from the effective date of this agreement. Vortex will have a right to buy 0.5 per cent of the NSR by paying $1.75-million (U.S.) at any time from the effective date of this agreement.

All Vortex shares issuable pursuant to the definitive agreement will be subject to a 24-month contractual escrow from the date of issuance. Twenty-five per cent of the Vortex shares will become free trading every six months following the date of issue. It is expected that Ventana will nominate one person to the board of Vortex following the definitive agreement becoming effective.

Qualified person, quality assurance and quality control

Dr. John E. Larson, PhD, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this press release.

About Vortex Metals Inc.

Vortex Metals is the parent company of Mexican subsidiary Empresa Minera Acagold SA de CV, which is the owner of a 100-per-cent interest in two drill-ready high-potential copper volcanogenic massive sulphide (VMS) properties (Riqueza Marina and Zaachila) in the state of Oaxaca, and a third high-potential gold property (El Rescate) in the state of Puebla. The Oaxaca projects incorporate the most highly prospective areas of high-grade copper mineralized surface exposures (gossans) and prominent gravity anomalies along an emerging copper VMS belt that includes Minaurum Gold's Santa Marta project.

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