Vancouver, British Columbia--(Newsfile Corp. - August 24, 2024) - This news release is issued by Mark Vanry (the "Acquiror") pursuant to the early warning requirements of National Instrument 62-103 The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103") and with respect to the acquisition by the Acquiror of debenture units (each a "Debenture Unit") of Wedgemount Resources Corp. (the "Issuer").

On August 21, 2024, in connection with the closing of the first tranche of a non-brokered private placement of the Issuer, the Acquiror purchased 500 Debenture Units of the Issuer, each consisting of $1,000 principal amount of 10% secured convertible redeemable debentures of the Issuer (each, a "Debenture") and 2,941 common share purchase warrants (each, a "Warrant"), at price of $1,000 per Debenture Unit for gross proceeds to the issuer of $500,000 (the "Transaction"). Each Debenture may be converted into common shares in the capital of the Issuer (each a "Conversion Share") at a conversion price of $0.17 per Conversion Share. Each Warrant entitles the holder thereof to purchase one common share in the capital of the Issuer (a "Warrant Share") at an exercise price of $0.30 per Warrant Share. The Debentures mature and the Warrants expire on August 21, 2027.

Prior to the Private Placement Transaction, the Acquiror owned and controlled 7,128,500 common shares in the capital of the Issuer (each a "Common Share"), 850,000 options to acquire Common Shares (each an "Option") and 924,999 Warrants, representing approximately 16.44% of the then issued and outstanding Common Shares, calculated on a partially diluted basis (after giving effect to the exercise of the Options and Warrants).

Upon full conversion of the $500,000 in Debentures and 1,470,500 Warrants acquired in the Transaction, the Acquiror would acquire an additional aggregate 4,411,676 Common Shares, representing approximately 7.77% of the issued Common Shares on a partially diluted basis. After the completion of the Transaction, the Acquiror owns 22.73% of the total issued and outstanding Common Shares of the Company on a partially diluted basis (after giving effect to the exercise of the Options, the conversion of the Debentures and the exercise of the Warrants held by the Acquiror, and assuming no other outstanding securities of the Company convertible or exercisable for Common Shares are converted or exercised).

In the future, additional securities of the Issuer may be acquired or disposed of by the Acquiror, through the market, privately or otherwise, subject in all cases to market conditions and compliance with applicable securities laws.

NI 62-103 also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Wedgemount's documents under its profile on SEDAR+ at .