Vortex Energy Completes Phase 1 Exploration at the Fire Eye Uranium Property in Saskatchewan and Changes Option Conditions, IR-WORLD.com Finanzkommunikation GmbH, Story

(CSE: VRTX | OTC: VTECF | FWB: AA3) (“Vortex“or this”Pursue“) is pleased to announce the successful completion of the Phase 1 exploration program on its Fire Eye uranium property (“concession area“) in the Athabasca Basin in the Canadian province of Saskatchewan. The Phase 1 program includes soil prospecting, geological mapping, sampling and radiometric measurements using a scintillometer.

This first phase was designed to further examine targets identified by the 2022 airborne geophysical survey, verify historical mineralization and evaluate new potential areas of interest on the property. In particular, the property manages two historic uranium deposits that are recorded in the Saskatchewan Mineral Deposit Index and have been the subject of prospecting as part of the current work program.

Key data of the program

1) The property has been broadly prospected with surface gamma radioactivity measured between 300 CPS and 4,000 CPS. In particular, higher radioactivity values ​​of 1,200 to 1,600 CPS were recorded in association with pegmatite outcrops within a large granite body characterized by feldspar crystals with a 240 degree lineation trend.

2) Six areas of interest (AOIs) identified by the 2022 airborne geophysical survey were also examined. Rock samples were collected in AOIs Nos. 3, 4 and 5 that had surface radioactivity greater than 1,000 CPS.

3) A total of 25 rock samples (random and chip samples) and 7 soil samples were collected from various outcrops and soils. Areas where scintillometer readings were too low or could not be sampled were scanned and the corresponding readings recorded.

Paul Sparkes, CEO of Vortex Energy Corp., said: “The completion of our Phase 1 exploration program at Fire Eye is a significant milestone for Vortex. The scintillometer readings and initial findings, particularly in areas with historic mineralization and newly identified targets, give us confidence. The initial results highlight the potential of the property and we look forward to analyzing the samples collected to gain a better understanding of the potential uranium mineralization in this region.”

The Company is also pleased to announce that it has amended the option agreement (“Option Agreement”) dated March 22, 2022 with respect to the Fire Eye Property (“Amendment Agreement”). Pursuant to the Amendment Agreement, the option grantor (“Optionor”) has agreed to accept, in lieu of the cash payment of $50,000, such number of shares of the Company’s shares having the same value ($50,000) based on the 10-day volume weighted average price. The Optionor has also determined to extend the terms by which aggregate issues of $110,000 and $250,000 must be purchased no later than the date three and four years after the date of the Option Agreement (i.e., March 22, 2025, respectively). March 22, 2026).

A copy of the Amendment Agreement may be viewed on the Company’s profile on SEDAR+ (www.sedarplus.ca).

Qualified expert

Afzaal Pirzada, P.Geo., a qualified person as defined by National Instrument 43-101 – Mineral Project Disclosure Standardswho serves as a consultant to the Company has reviewed and approved the scientific and technical content of this press release.

For a description of the Company’s data verification and QA/QC procedures, please refer to the Company’s technical report entitled “Technical Report on the Fire Eye Uranium Property, Northern Mining District, NTS Maps 064E14 and 064E15, Saskatchewan, Canada“ dated May 12, 2022, which is available on the Company’s profile on SEDAR+ (www.sedarplus.ca).

Figure 1: Overlay of the MAG-TDR anomalies from the 2022 survey with the historical radioelement map (K=Red, eTh=Green, eU=Blue), dark blue AOIs 1-6

About Vortex Energy Corp.

Vortex Energy Corp. is a Canadian mineral exploration company focused on identifying and developing high-quality assets in North America. The company is keen to use its assets for salt mining and storing energy and CO₂ in caverns. The Company owns a North American salt project with infrastructure access where multiple salt structures have been identified.

The Company is also currently seeking to expand its Fire Eye uranium property in the Athabasca Basin, a region known worldwide for its uranium deposits.

About the Fire Eye Lake Uranium Property

The property includes a mineral concession MC00015792 totaling 4,496.66 hectares; It is located approximately 400 kilometers north of the town of La Ronge in the Northern Mining District of the Canadian province of Saskatchewan and 50 kilometers east of Provincial Highway #905. The property is accessible by helicopter or fixed wing aircraft from Wollaston Lake. The property’s exploration history dates back to the 1930s when initial work was conducted by the Geological Survey of Canada. Two uranium deposits have been identified on the property and documented in the Saskatchewan Mineral Deposit Index (“SMDI”): SMDI 1710 – Middle Lake Uriniferous Pegmatite Anomalies 1, 2, 3, 4, and 5; and SMDI 1832 Fire Eye Lake. Historical survey maps of the available lake sediment and EU data suggest that conditions in the western part of the property are relatively more favorable for uranium exploration than in the eastern part.

For further information, investors are encouraged to view the Company’s filings at www.sedar.com.

For the Board of Directors

Paul Sparkes
CEO, Vortex Energy Corp.
+1 (778) 819-0164
[email protected]

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the words “could,” “intend,” “expect,” “believe,” “will,” “projected,” “estimated,” and similar expressions, as well as statements relating to matters that are not historical facts, are intended Forward-looking information identifies and is based on the Company’s current beliefs or assumptions regarding the outcome and timing of such future events. In particular, this press release contains forward-looking information relating, among other things, to the Company’s exploration plans for the Project.

In drawing conclusions or making predictions or projections contained in forward-looking information, various assumptions or factors are typically used, including, with respect to the forward-looking information in this press release, the assumptions that the Company will: The Site is to implement its exploration plans, including: that it will successfully complete planned drilling and that such drilling will provide the expected information and desired results.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or errors to differ materially from any future results, performance or errors expressed or implied by the forward-looking information. These factors include, but are not limited to, the risk that exploration on the Project will not be completed in the manner or within the expected time frame or at all; Risks inherent in the exploration and development of mineral deposits, including risks related to obtaining required permits and approvals, changes in project parameters or delays in further refinement of plans, and that mineral exploration is inherently uncertain and that the results of the Mineral exploration is not necessarily indicative of the actual geology or mineralization of a project; and the risk that mineral exploration is not successful or does not achieve the results expected by the Company, including as a result of factors beyond the Company’s control, such as geological conditions. The forward-looking information in this press release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws . Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify all forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the contents of this press release.

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