Vortex Metals Gains Conditional Approval for Illapel Copper Project Venture

Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) (“Vortex” or the “Company“) is delighted to disclose that it has secured conditional approval from the TSX Venture Exchange (the “Exchange”) for its intended acquisition, allowing for up to an 80% stake in the Illapel Copper Project located in Chile. This achievement comes after the signing of a Letter of Intent (LOI) on June 27, 2023, and the finalization of a definitive agreement on November 20, 2023.

The Company continues its dialogue with the Exchange to resolve any outstanding inquiries and will expeditiously notify the market upon obtaining final approval.

Upon obtaining final approval, Vortex will commence an initial exploration program, which entails:

1. Prompt evaluation of high-priority, drill-ready targets situated both north and south of the Rio 27 mine;

2. Thorough mapping, sampling, and drilling activities targeting epithermal vein deposits within the western concession area;

3. Commencement of mapping and sampling efforts across promising geological structures, including ocoite dikes and nearby copper sulfide deposits identified across the project area.

The objective of this program is to promptly assess top-priority targets and broaden our regional geological exploration efforts to identify new drilling locations.

Vortex remains dedicated to ongoing collaboration with the Exchange to obtain final approval and will ensure transparent communication with shareholders and the wider market, emphasizing our dedication to enhancing shareholder value through this strategic acquisition.

Vortex Metals Inc. serves as the parent company of its Mexican subsidiary, Empresa Minera Acagold, S.A. de C.V., which holds full ownership of two drill-ready, high-potential copper volcanogenic massive sulfide (VMS) properties (Riqueza Marina and Zaachila) in Oaxaca state, along with a third promising gold property (El Rescate) in Puebla state. The Oaxaca projects cover the most promising areas distinguished by high-grade copper mineralized surface exposures, commonly referred to as 'gossans,' and significant gravity anomalies. These sites are positioned within a burgeoning copper VMS belt, which also encompasses Minaurum Gold’s (TSXV:MGG) Santa Marta project.

Situated within three mineral leases totaling 8,000 hectares, the Illapel Copper Project showcases a Manto type Stratabound deposit, promising substantial mineral wealth. Notably, the project is poised for immediate drilling, with eight high-potential target areas identified through comprehensive analysis of geology, geochemistry, and geophysics. Adding to its allure, the project enjoys close proximity to the El Espino mine, valued at an impressive US$380 million. With projected annual production estimates of 26,000 metric tons of copper and 13,000 ounces of gold, the Illapel Copper Project emerges as a promising venture in the mining landscape.