Mr. Mark Vanry reports

WEDGEMOUNT RESOURCES ANNOUNCES COMPLETION OF ACQUISITION OF ADDITIONAL PERMIAN BASIN ASSETS

Wedgemount Resources Corp. has closed the acquisition of additional oil and gas assets (Huggy assets) located in the Permian basin of west-central Texas pursuant to a purchase and sale agreement (PSA) with an arm's-length private company located in Texas, United States.

Under the PSA, Wedgemount has acquired a 100-per-cent working interest in the Huggy assets which cover 20,000 acres of 37 oil and gas leases, hosting 111 producing wells, eight injectors and all surface facilities. Current production from the 111 wells is approximately 72 boe/d (barrels of oil equivalent per day) of high-quality, low-decline operated production. The area's geology consists of numerous hydrocarbon-producing formations, which management anticipates will be targeted by the company.

Wedgemount made total cash payments to the seller of $840,000 (U.S.) for the Huggy assets, adjusted from the previously announced total purchase price of $900,000 (U.S.).

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.