Vertical Exploration Receives St-Onge Wollastonite Quarry Permit Approval from the Government of Quebec VANCOUVER, BC / September, 17, 2021 / VERTICAL EXPLORATION INC. (TSX-V: VERT) ("Vertical" or "the Company") is very pleased to report that, through its operations
Suite 1240- 789 West Pender St.
Vancouver, British Columbia V6C 1H2
Vertical Exploration Receives St-Onge Wollastonite Quarry Permit Approval
from the Government of Quebec
VANCOUVER, BC / September, 17, 2021 / VERTICAL EXPLORATION INC. (TSX-V:
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.
Peter P. Swistak, President/CEO of Vertical Exploration Inc., commented: “We are
extremely pleased to have received approval from the Government of Quebec for our
world-class St-Onge project. Our operations partner Magnor has done an outstanding
job completing the extensive paperwork required for the St-Onge permits, and also
working with the Government of Quebec staff to ensure our Wollastonite project meets
all regulatory requirements. With permitting in place, we are now in an excellent position
to quickly move forward with the production, marketing and sales of our premium
Wollastonite. The North American agricultural and home garden markets are in need of
an environmentally sound natural fertilizer solution, and we believe our premium
Wollastonite product will help fill that growing demand. We will be providing further
updates in the upcoming weeks regarding our prospective marketing and sales efforts.”
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
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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).