Vertical Exploration Receives St-Onge Wollastonite Quarry Permit Approval from the Government of Quebec

VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / VERTICAL EXPLORATION INC. (TSXV:VERT) ("Vertical" or "the Company") is very pleased to report that, through its operations partner Magnor Exploration Inc. (Magnor), the Company has now received full quarry permitting approval from the Government of Quebec for its St-Onge Wollastonite project located in the Lac-Saint-Jean region of Quebec.

Magnor has worked tirelessly with its team and consultants over the past 18 months to secure the Company's official quarry permits from the various Ministries' in the Government of Quebec. The three permits received from the Government of Quebec through Vertical's operations partner Magnor include: i) a Certificate of Authorization (CA) under Section 22 of the Environmental Quality Act from the Quebec Ministry of Environment and Fight against Climate Change (MELCC); ii) a BEX 1809 permit (Bail Exclusif pour l'exploitation de substances minérales de surfaces) from the Quebec Ministry of Energy and Natural Resources (MERN); and iii) a permit from MERN authorizing the construction of a building on site for the storage of crushed Wollastonite. With the receipt of all quarry permits, Vertical and Magnor are now fully permitted to move forward with quarry operations and production of the St-Onge Wollastonite.

The Company and Magnor undertook public consultation on the St-Onge project as required by the Government of Quebec, and received good support overall from the surrounding communities . The Company intends to make the St-Onge project as environmentally sound as possible, including moving forward to fully power its quarry operations through electric power thereby limiting the use of any fossil fuels in production. With the permitting now in place Vertical anticipates completing the final payment installment of its option agreement with the vendor in the near future, allowing for the Company to secure 100% ownership in the St-Onge project. The vendor retains a 2% Net Smelter Royalty (of which 1% can be purchased by the Company for $1 million), and also retains a $5 per ton royalty for the first 1 million tons and a $1 per ton royalty for the remaining tonnage.