22:31:33 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Vortex Energy Corp
Symbol VRTX
Shares Issued 77,773,133
Close 2024-01-09 C$ 0.69
Market Cap C$ 53,663,462
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Vortex Energy plans second Robinsons River well

2024-01-10 11:46 ET - News Release

Mr. Paul Sparkes reports

VORTEX ENERGY RE-MOBILIZES FOR EXPLORATION PROGRAM AT THE ROBINSONS RIVER SALT PROJECT

Drill and crew mobilization has begun at Vortex Energy Corp.'s flagship property, the Robinsons River salt project, to commence drilling at the second approved core well. The company has retained the services of the contractors involved in the drilling of the initial core well at the project, RESPEC Consulting Inc., Major Drilling Group International Inc. and DGI Geoscience Inc., to drill the second core well.

The drilling of the second core well is designed to confirm the depth of the salt rock structures at the project and attain the geological properties of the salt and non-salt rocks present at the project. The company previously announced on Dec. 14, 2023, that it had intersected salt rock at its first core well at a depth of 581.5 metres.

Paul Sparkes, chief executive officer, commented: "We are pleased to have intersected salt in the first core well which marked a significant milestone for the project. The outcome from the first core well gives us confidence in the potential of the discovery as we prepare to begin drilling on the second core well."

The company also announces, further to its news releases on April 28, 2023, June 23, 2023, July 21, 2023, Sept. 1, 2023, Oct. 20, 2023, and Nov. 16, 2023, that it has further extended its engagement of Financial Star News Inc. (address: 701 West Georgia St., Suite 1500, Vancouver, B.C., V7Y 1C6; e-mail: info@thefinancialstar.com) for marketing services for up to an additional 45 days commencing on Jan. 10, 2024, provided that the term of the marketing services may be extended or shortened at the discretion of management depending on, amongst other things, the efficiency of the marketing services.

As previously disclosed, FSN has and shall continue to, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, set up and manage remarketing campaigns, optimize keyword options, co-ordinate on-line advertisers and marketers corresponding to on-line marketing targets, create landing pages for ad campaigns, and generally bring attention to the business of the company. The promotional activity undertaken by FSN will occur on the Financial Star website and by e-mail, Facebook and Google.

The company will pay a fee of $300,000 (U.S.) (plus Goods and Services Tax) for the extension. The company will not issue any securities to FSN as compensation for its marketing services. As of the date hereof, to the company's knowledge, FSN (including its directors and officers) does not own any securities of the company and has an arm's-length relationship with the company.

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, comprising a total of 942 claims covering 23,500 hectares located approximately 35 linear kilometres south of the town of Stephenville in the province of Newfoundland and Labrador. The Robinson River salt project is prospective for both salt and hydrogen salt cavern storage. The company is actively evaluating technologies to efficiently store hydrogen or energy in salt caverns.

Vortex Energy also holds the Fire Eye project, which is located in the Wollaston domain of Northern Saskatchewan, Canada.

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