Vertical Exploration : CLOSES FINANCING – JUNE 30th, 2023

Vertical Closes Financing

VANCOUVER, BC / June 30th, 2023 / VERTICAL EXPLORATION INC. (TSX-V: VERT) ("Vertical" or "the Company") is pleased to announce that, further to its news release of June 23, 2023, it has closed its oversubscribed private placement of 14,160,000 units at $0.05 per unit for total gross proceeds of $708,000. Each unit consists of one common share and one transferable common share purchase warrant authorizing the purchase of one additional common share at a price of $0.10 per share until June 30, 2025.

In connection with the private placement, the Corporation paid cash finder's fees to PI Financial Corp. an arm's length party, totaling $12,100 and issued 240,200 common share purchase warrants ("Finder's Warrants"). Each Finder's Warrant is exercisable into one common share of the Corporation at a price of $0.10 per Finder's Warrant share until June 30, 2024.

All securities issued under the offering are subject to statutory hold periods expiring on November 1, 2023.

Proceeds of the private placement will be used for general working capital, exploration expenditures and repayment of outstanding receivables.

Although conditionally approved this offering is subject to TSX Venture Exchange final acceptance.

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
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).