Vertical Exploration Announces Private Placement Extension

7479257.1

VERTICAL EXPLORATION INC.

Suite 1240, 789 West Pender Street

Vancouver, British Columbia

Phone: 604 683 3995 / Toll Free: 888 945 4770/ Fax 604 683 3988

Vertical Exploration Announces Private Placement Extension

October 22, 2018, VANCOUVER, BC - Vertical Exploration Inc. (NEX: VERT) (the

"Company") announces that it has extended the duration of its previously-announced non-

brokered private placement offering of Flow Through Units and non-flow through Units.

As previously announced in its news release dated September 7, 2018, the Company offers up

to 6,818,182 "flow through" units (each a "Flow Through Unit") at a price of $0.11 per Flow

Through Unit, and up to 7,500,000 non flow through units (each a "NFT Unit") at a price of $0.10

per NFT Unit, for aggregate gross proceeds of $1.5 million.

Each Flow Through Unit will be comprised of one "flow through" common share and one-half of

a warrant. Each NFT Unit will be comprised of one non-flow through common share and one

whole warrant. Each whole warrant will be exerciseable at $0.20 per share, for a period of 2

years from issuance, subject to acceleration if the trading price of the common shares is $0.25

or greater for a period of 10 consecutive trading days. In such event, the Company may, in its

sole discretion, accelerate the expiry date to a date that is 30 days after the Company issues a

news release announcing same.

The Company may, in its sole discretion, pay finders' fees to its agents, within NEX guidelines.

The private placement is subject to the approval of the NEX, and the securities comprising the

Flow Through Units and NFT Units are subject to a hold period of four months plus one day

from issuance.

Proceeds from the private placement will be used for qualifying expenditures, the Company's

operating expenses and for general working capital.

ON BEHALF OF THE BOARD

"Peter P. Swistak"

Peter P. Swistak, President

For further information, please contact:

Telephone: 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.