VVC Exploration Corporation ("VVC" or the "Company") (TSX-V:VVC) announces that the Company has received conditional approval from the TSX Venture Exchange (“TSXV”) regarding a Share Purchase Agreement (“SPA”) with Plateau Helium Corporation (“PHC”) and the shareholders of PHC announced on November 9, 2020. PHC is a Wyoming Corporation focused on helium exploration and development, primarily in the western US. Pursuant to the SPA, VVC has acquired a 10% minority interest in PHC (the “Minority Interest”) for US$100,000. The SPA also gives VVC the right to buy the remaining 90% interest in PHC (the “Majority Interest”) from the shareholders of PHC for twenty-one million shares of VVC (the “VVC Shares”), subject to a voluntary escrow and a number of conditions. The acquisition of the Majority Interest is subject to completion of due diligence of PHC by VVC.

PHC’s initial target project is located in Kansas and currently comprises 69 leases covering 13,760 acres known as the Syracuse Helium Project (the "Project”). Further information on PHC and the Project was disclosed in the news release of November 9, 2020.

The Company has 20 business days to complete its due diligence and elect to acquire the Majority Interest. Should VVC proceed with the acquisition of the Majority Interest, on closing, the VVC Shares, the Majority Interest and a transfer of the Syracuse Helium Project will be held in escrow. The VVC Shares will be released from escrow in three tranches of 7 million shares each upon completion of three predetermined benchmarks. Shareholders will be advised by news release on developments regarding the transaction.