Mr. Mark Vanry reports

WEDGEMOUNT ANNOUNCES OPERATIONS UPDATE

Wedgemount Resources Corp. has provided a production update for the company's west-central Texas oil and gas operations.

During February, 2024, Wedgemount completed the majority of its planned 2023/2024 capital expenditure programs on its Willowbend and Millican assets, including chemical well stimulations and work-overs, as well as surface facility improvements. Over the most recent seven-day period, with 19 of Wedgemount's 25 total wells in operation, production reached a new high of 258 boepd (barrels of oil equivalent per day).

Of note, 16 of the 19 operating wells, which have been treated and optimized, are doing a combined 248 boepd, while the other three wells, which have yet to be treated, are doing a combined 10 boepd. Organic production growth in treated wells is over seven times since being acquired by the company 11 months ago. The remaining six wells are forecast to be on-line and producing during the month of March.

Based on historic analogues, once restarted, wells which have undergone similar chemical treatments continue to show increased production of oil and gas until approximately 15 to 17 weeks postchemical stimulation. On average, Wedgemount's treated wells have been back on production for five weeks.

It is anticipated that an additional eight wells from the company's recently completed TCS transaction will undergo similar optimization and chemical treatments.

About Wedgemount Resources Corp.

Wedgemount Resources is a junior oil and gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern United States.

We seek Safe Harbor.