VANCOUVER, BC / ACCESSWIRE / October 24, 2024 / VERTICAL EXPLORATION INC. (TSXV:VERT) ("Vertical" or "the Company") announces it has signed an exclusivity agreement with an international entity regarding the Company's St-Onge Wollastonite deposit in Quebec. This exclusivity agreement is limited to exploring potential applications for enhanced rock weathering (ERW)-focused carbon removal. Due to a confidentiality clause in the agreement the entity will remain unnamed until such time as an official agreement may be reached.
Wollastonite's properties make it a very suitable mineral to demonstrate its ability to capture and permanently store atmospheric CO2. When the rock weathers, it releases calcium, magnesium, and silicon, as well as other major and minor nutrients into the soil which results in higher crop yields, increased pest resistance, and improvement in the pH of soils, making it very beneficial to farmers while absorbing up to 10 times faster than comparable silicate minerals.
"We are very pleased to be receiving serious attention from many sources at this time. This exclusivity agreement is restricted to enhanced rock weathering applications relating to carbon capturing and does not affect ongoing talks and negotiations with other entities interested in our wollastonite for various other large applications," stated Peter Swistak, CEO of Vertical Exploration Inc.
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
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).
SOURCE: Vertical Exploration Inc.
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