Vortex Metals Closes First Tranche of Non-Brokered Private Placement

Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $402,935.96. The Company issued 5,036,700 units at a price of $0.08 per unit, with each unit consisting of one common share and one-half of one common share purchase warrant. The Company intends to use the proceeds for exploration activities at the Illapel Copper Project in Chile and for general working capital purposes.

The Illapel Copper Project is strategically significant for Vortex Metals' growth due to its proximity to an existing copper mine, which provides access to established infrastructure, reducing development costs and expediting the project's timeline. The project's location in the Choapa Province of Chile, close to the El Espino mine, suggests a high potential for copper and gold discoveries. The estimated value of the project is US $380 million, with an annual expected production of 26,000 mt of copper and 13,000 oz of gold.

The capital raised in the first tranche aligns with Vortex Metals' exploration and development plans, as it will be used to fund exploration activities at the Illapel Copper Project in Chile. This project is a strategic location for the Company, as it is near an existing copper mine and has significant exploration potential. The Company's focus on advancing its existing portfolios and potential drilling success in the coming quarters is also supported by the use of proceeds from the private placement.

In addition, the Company's plans to use the proceeds for general working capital purposes further align with its overall strategy to fund its operations and continue its exploration and development activities. The Company's emphasis on responsible exploration, community engagement, and environmental stewardship is also consistent with its commitment to sustainable and environmentally responsible mining practices.

The success of the first tranche of the private placement indicates that investors have confidence in Vortex Metals' prospects and its strategic growth plans. The Company's ability to raise funds in the current market demonstrates its strong business strategy and commitment to a step-by-step approach to growth.



In conclusion, Vortex Metals' successful closing of the first tranche of its non-brokered private placement is a testament to the Company's strong business strategy and commitment to growth. The capital raised will be used to fund exploration activities at the strategic Illapel Copper Project in Chile and for general working capital purposes, aligning with the Company's exploration and development plans. The Company's focus on responsible exploration, community engagement, and environmental stewardship further enhances its commitment to sustainable and environmentally responsible mining practices.