Vortex Energy Enters Into Asset Purchase Agreement to Acquire the Meadows Project in Saskatchewan

VANCOUVER, British Columbia, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) (FSE: AA3) (“Vortex” or the “Company”) is pleased to announce that it has entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Global Strategic Minerals Corp. (the “Vendor”), pursuant to which the Company will acquire (the “Transaction”) the Purchased Assets (as defined below) comprising the Meadows Project (the “Project”) located in west-central Saskatchewan near the Alberta border (the “Meadows Project”).

The Meadows Project is represented by Saskatchewan Subsurface Mineral Permit #SMP273 (the “Permit”). Under the Asset Purchase Agreement, the Company will acquire 100% of the Vendor’s interest in the Permit, all transferable technical information relating to the Meadows Project and all transferable governmental authorizations relating to the Permit (collectively, the “Purchased Assets”).

Transaction Terms

The purchase price for the Purchased Assets is C$255,000, payable in cash by the Company to the Vendor at closing. Upon closing, the Company will assume only those obligations that, as a matter of applicable law must accompany the Permit including an annual rental rate of approximately $43,219 during Permit years one through five and approximately $108,047 during Permit years six through eight, and a work commitment of approximately $9.81 million over the next eight years, commencing July 14, 2026. Except for such assumed obligations, the Company will not assume any liabilities of the Vendor.

The Transaction is expected to close on or about October 1, 2026, subject to the satisfaction or waiver of customary closing conditions set out in the Asset Purchase Agreement.

Completion of the Transaction remains subject to customary closing conditions, including receipt of all required governmental, regulatory and third-party approvals and consents, approval and registration of the transfer of the Permit, delivery of customary closing documents, the accuracy of the parties’ representations and warranties, performance of their respective covenants, and the Purchased Assets being transferred free and clear of all encumbrances, except for permitted encumbrances. There can be no assurance that the Transaction will be completed on the terms contemplated in the Asset Purchase Agreement or at all.

Project Highlights

The Meadows Project comprises approximately 21,609 hectares across 338 Crown parcels in northwestern Saskatchewan, near the Alberta border. The Permit covers Crown subsurface mineral rights within the Elk Point Group, a geological succession containing thick salt-bearing intervals documented in historical wells surrounding the Project. This regional evidence provides an encouraging basis to explore the Project for salt with potential applications for compressed air energy storage and hydrogen storage. Nearby Cold Lake provides an established energy-industry and regional service centre, while Highway 919 and regional resource roads provide potential access to the Project, with Meadow Lake serving as a regional logistics centre. The presence, thickness, continuity and quality of salt beneath the Permit, and its suitability for cavern development, remain unconfirmed. Further exploration and technical work will be required to evaluate the Project’s potential.

Qualified Person

The scientific and technical information regarding the Meadows Project contained in this news release has been reviewed and approved by Jared Suchan, Ph.D., P.Geo. (APEGS #36165), Vice President of Exploration at Vortex, a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 also currently advancing its Fire Eye Uranium Property in the Athabasca Basin, a region renowned for its uranium deposits.

On Behalf of the Board of Directors

Paul Sparkes
Chief Executive Officer, Director
+1 (778) 819-0164
info@vortexenergycorp.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information relates to future events or future performance and is often, but not always, identified by words such as “anticipate”, “expect”, “intend”, “plan”, “believe”, “may”, “will”, “could” and similar expressions. All statements other than statements of historical fact may be forward-looking information.

Forward-looking information in this press release includes statements regarding the anticipated completion and timing of the Transaction; the satisfaction or waiver of the conditions to closing; the receipt of required approvals and consents; and the approval and registration of the transfer of the Permit. Such forward-looking information is based on assumptions considered reasonable by management as of the date of this press release, including that the parties will satisfy or waive the applicable closing conditions, obtain the required approvals and consents, complete and register the transfer of the Permit, and complete the Transaction on the terms and timeline contemplated by the Asset Purchase Agreement.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied, including the risks that the closing conditions may not be satisfied or waived; required approvals or consents may not be obtained; the transfer of the Permit may not be approved or registered; the Transaction may be delayed, may not close on the expected terms or timeline, or may not close at all; and other risks inherent in mineral property acquisitions and the Company’s business. There can be no assurance that forward-looking information will prove to be accurate. Readers should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and the Company undertakes no obligation to update or revise it, except as required by applicable securities laws.

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