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Vortex Energy Corp
Symbol VRTX
Shares Issued 32,928,000
Close 2023-05-08 C$ 0.62
Market Cap C$ 20,415,360
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Vortex agrees to master services deal with RESPEC

2023-05-09 13:59 ET - News Release

Mr. Paul Sparkes reports

VORTEX ENGAGES RESPEC TO ADVANCE ITS ROBINSONS RIVER SALT PROJECT IN NEWFOUNDLAND & LABRADOR, CANADA

Vortex Energy Corp. has executed a master services agreement with RESPEC Consulting Inc., a leader in engineering, data, geoscience and technological solutions for the salt industry. Pursuant to the agreement, RESPEC will work directly with Vortex to explore and advance the Robinsons River salt project by developing an exploration program for the project designed to determine whether the project shares similar geological characteristics to Atlas Salt's Great Atlantic salt deposit, located approximately 15 kilometres to the north of the project.

RESPEC's experts have evaluated over 1,000 caverns in nearly every major cavern storage region in the world. Their extensive history underground has helped them pioneer in-house specialty software and rock lab testing that focuses on analyzing solution-mined and conventionally mined caverns. RESPEC has the world's largest rock laboratory dedicated to the underground storage industry and has experience with some of the largest scale projects in North America, including Mitsubishi Power's Advanced Clean energy storage project in Utah, the ATCO Heartland Energy Centre in Alberta and seven other hydrogen storage projects worldwide.

The project covers 17,139 hectares in the province of Newfoundland and Labrador, and is approximately 35 kilometres south of Stephenville. Previous work conducted on the project includes a gravity and magnetic survey, which the Vortex team expects to leverage in designing the exploration program for the project their data collection. Vortex is exploring the project for potential similarities to Atlas Salts Great Atlantic deposit.

"We are very excited to be moving ahead in partnership with RESPEC and their team of experts," said Paul Sparkes, chief executive officer of Vortex. "We believe that the multidisciplinary team of geologists, geophysicists and engineers are exactly what Vortex needs to efficiently advance the project. RESPEC is one of the only underground storage consultants with direct experience in hydrogen storage caverns globally and has many other related areas of expertise covered in house. Vortex intends on deploying teams as quickly as it can to conduct the first stages of exploration as we work with RESPEC to develop a detailed drilling plan."

Sam Voegeli, energy services lead at RESPEC, comments: "RESPEC is looking forward to working closely with the Vortex team to further explore the Robinsons River salt project. We're excited to leverage our 50-plus years of experience with underground storage and salt deposits to help bring the project closer to development. The RESPEC team is eager to be involved in such an exciting project that has the potential to be positioned as a key global hydrogen hub in the energy transition."

About Vortex Energy Corp.

Vortex Energy is an exploration-stage company engaged principally in the acquisition, exploration and development of mineral properties in North America. The company is currently advancing its Robinson River salt project in Stephenville in the province of Newfoundland and Labrador covering over 17,000 hectares. Leveraging the Robinson River salt project, the company is also exploring the development of technologies to efficiently store green hydrogen in salt caverns. Vortex also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

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