Vertical Extends Exclusivity Agreement

Rhea-AI Summary

Vertical Exploration (TSX-V:VERT) has extended its exclusivity agreement with an unnamed international entity regarding its St-Onge Wollastonite deposit in Quebec. The agreement, initially announced on October 24, 2024, focuses specifically on exploring enhanced rock weathering (ERW) applications for carbon removal.

The company reports that discussions are progressing well and expects to provide shareholder updates soon. Due to confidentiality requirements, the identity of the international entity remains undisclosed until a formal agreement is reached.

The PR highlights wollastonite's capabilities in CO2 capture and storage, noting that it can absorb carbon dioxide up to 10 times faster than comparable silicate minerals. When weathered, the mineral releases calcium, magnesium, and silicon, along with other nutrients, which can improve crop yields, pest resistance, and soil pH levels.

Positive

• Advancing discussions with international entity for potential carbon removal applications
• Wollastonite's superior CO2 absorption rate (10x faster than comparable minerals)
• Multiple agricultural benefits including improved crop yields and pest resistance

Negative

• None.

VANCOUVER, BC / ACCESS Newswire / January 30, 2025 / VERTICAL EXPLORATION INC. (TSX-V:VERT) ("Vertical" or "the Company") announces that it has provided an extension to the previously announced exclusivity agreement with an international entity regarding the Company's St-Onge Wollastonite deposit in Quebec (see PR dated Oct 24, 2024). With talks advancing well the Company anticipates updating shareholders as progress is made in the near term.

This exclusivity agreement is limited to exploring potential applications for enhanced rock weathering (ERW)-focused carbon removal. Due to a confidentiality clause in the agreement the entity will remain unnamed until such time as an official agreement may be reached.

Wollastonite's properties make it a very suitable mineral to demonstrate its ability to capture and permanently store atmospheric CO₂. When the rock weathers, it releases calcium, magnesium, and silicon, as well as other major and minor nutrients into the soil which results in higher crop yields, increased pest resistance, and improvement in the pH of soils, making it very beneficial to farmers while absorbing up to 10 times faster than comparable silicate minerals.

ABOUT VERTICAL EXPLORATION

Vertical Exploration's mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company's flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD

Peter P. Swistak, President

FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: Vertical Exploration Inc.

View the original press release on ACCESS Newswire

FAQ

What is the purpose of Vertical Exploration's (VERT) extended exclusivity agreement?

The extended exclusivity agreement is to explore potential enhanced rock weathering (ERW) applications for carbon removal using the St-Onge Wollastonite deposit in Quebec.

How much faster can VERT's wollastonite absorb CO2 compared to other minerals?

According to the announcement, VERT's wollastonite can absorb CO2 up to 10 times faster than comparable silicate minerals.

What agricultural benefits does VERT's wollastonite provide?

VERT's wollastonite provides multiple agricultural benefits including higher crop yields, increased pest resistance, and improvement in soil pH levels through the release of calcium, magnesium, silicon, and other nutrients.

When was VERT's original exclusivity agreement announced?

The original exclusivity agreement was announced on October 24, 2024.