Vortex Energy Announces Drilling Update and $115,500 Grant Award At The Robinsons River Salt Project

The Company has finalized drillhole three planning and is pleased to announce the receipt of the Mineral Incentive Program – Junior Exploration Assistance grant of $115,500

VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company”) is pleased to announce the completion of drill planning for the third exploration drillhole at the Robinsons River Salt Project (the “Project”). T*he Company is currently   preparing for drill mobilization, scheduled to commence in April 2024.* Furthermore, Vortex has been awarded a $115,500 grant from the Government of Newfoundland and Labrador, Department of Industry, Energy and Technology Mineral Incentive Program – Junior Exploration Assistance program. This grant is in recognition of prior exploration expenditures made on the Project.

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Under the geological support and operational management of Respec Consulting Inc. (“RESPEC”), FTE Drilling (“FTE”) and Major Drilling Group International Inc. (“Major”) have been engaged to conduct drilling activities. The Company plans to drill a 1,000-meter deep core hole at the Project. Mobilization is anticipated to commence in mid-April, subject to road and weather conditions, and conclude by late April. Drilling operations are expected to commence in the first two weeks of May.

Paul Sparkes, CEO of Vortex Energy Corp., commented, “We are thrilled to be advancing our exploration efforts at the Project. RESPEC has designed a conservative plan which we believe will yield the best chances of success in our salt exploration efforts while maintaining well integrity for potential future energy storage applications. We are grateful for the support from the Government of Newfoundland and Labrador and are looking forward to mobilizing in the coming weeks.”

The Company plans to utilize two drilling companies and drill rigs to drill hole three. FTE will drill and case the hole to a depth of 350 meters into the anhydrite caprock over the salt. Major will then put their coring drill rig over the cased hole and lower their rods to the bottom of the casing and begin coring from 350 meters to a depth of 1,000 meters. T_his strategic approach is expected to help to avoid the challenging geologic zones experienced in core hole one and two and enhance overall project success._

The objective of the drill program ongoing at the Project is to confirm the depth of the salt structure, conduct in situ geophysical logs to acquire rock properties, and obtain core samples for geological and geochemical analyses of both salt and non-salt rocks. Notably, during the drilling of the first core well, the Company identified the salt rock top at a depth of 581.5 meters within the Western Salt Structure. The Company aims to confirm the presence of salt at the third core well location and acquire additional rock samples for geological research and testing.

About Vortex Energy Corp.

Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. The company is currently advancing its Robinson River Salt Project comprised of a total of 942 claims covering 23,500 hectares located approximately 35 linear kms south of the town of Stephenville in the Province of Newfoundland & Labrador. The Robinson River Salt Project is prospective for both salt and hydrogen salt cavern storage. The company is actively evaluating technologies to efficiently store hydrogen or energy in salt caverns. Vortex Energy Corp. also holds the Fire Eye Project, which is located in the Wollaston Domain of northern Saskatchewan, Canada