Vertical Exploration Enters into an LOI with Venturevest Realty Partners FOR Note Facility to Support Significant St-Onge Wollastonite Development

VERTICAL EXPLORATION ENTERS INTO AN LOI WITH VENTUREVEST REALTY PARTNERS

FOR NOTE FACILITY TO SUPPORT SIGNIFICANT ST-ONGE WOLLASTONITE

DEVELOPMENT

VANCOUVER, BC / OCTOBER 3, 2019 / VERTICAL EXPLORATION INC. (TSX-V: VERT) ("Vertical" or "the

Company") and Venturevest Realty Partners LLC (“Venturevest”) are pleased to announce that the two

companies have signed a non- binding Letter of Intent (LOI) to enter into discussions regard ing the

provision by Venturevest of a secured Note F acility up to a maximum amount of $2 0 million CAD to

support the multi-phased development of the St-Onge Wollastonite Deposit.

The Note Facility would be a staged credit facility that would provide the required financing to allow

Vertical to move forward with four distinct phases of St-Onge development, from the initial quarry style

permitting and production phase through to the mining and final processing plant stage. Vertical views

this potential N ote Facility financing as a significant development that would enable the Company to

rapidly develop and expand its St-Onge Wollastonite Deposit.

Further details regarding the Note Facility Agreement will be provided as soo n as all terms have been

negotiated between Vertical and Venturevest. The Agreement is subject to a due diligence period that

is anticipated to be completed within the next 60 days . This transaction is subject to the approval of

the TSX Venture Exchange.

ABOUT VENTUREVEST REALTY PARTNERS LLC.

Venturevest Realty Partners LLC (“Venturevest”) is a New York corporation.

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/CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

https://vertxinc.com/

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).