Mr. Mark Vanry reports

WEDGEMOUNT REPORTS 62% INCREASE IN OIL & GAS PRODUCTION

Wedgemount Resources Corp. has provided an operational update on its continuing oil and gas production enhancement program in west-central Texas.

Production update

During the past three weeks total production has increased 62 per cent to an average of 203 boepd (barrels of oil equivalent per day) (average based on past seven days). Current production mix is approximately 60-per-cent light oil and 40-per-cent natural gas and condensate. The increase is despite record rainfall and recent flash floods in the immediate area of Wedgemount's operations.

D-29 well

Highlighting the increase in production is the company's D-29 well, which has averaged 34.2 boepd over the past nine days including 27 bbl/d of light oil. The excellent production rates are in spite of the fact the company has performed neither a workover nor a large chemical stimulation on it. The D-29 well had not been in production for six years prior to being turned on by Wedgemount in mid-June. The company is optimistic that D-29 production can be sustained at current or higher levels after full optimization.

Management commentary

Chief executive officer Mark Vanry comments: "We're very encouraged by our early well results since our spring financing and in particular the notable performance of our D-29 well, which has come on multiples higher than our expectations. There are eight additional inactive wells located on leases immediately adjacent to D-29 so we're hopeful we'll see close to similar results once those are back on. Over all, we continue to be slightly ahead of our internal projections for production since our April financing."

Upcoming operational focus

As previously disclosed, the operational team's focus over its 22,000 acres will be surface and subsurface improvements to increase production, sales and reserve recoveries. In addition, Wedgemount will initiate a development plan focusing on bypassed pay zones and prioritizing future drilling locations on the company's large land position. Short-term June and July initiatives will continue to prioritize bringing additional wells onto production, including;

• Pump replacements and repairs;
• Chemical cleanouts of wells;
• Replacement of legacy electrical components;
• Further injection well work;
• Road improvements due to flooding damage.

Future development

Following optimization of the company's existing vertical production wells, significant growth potential remains across the balance of Wedgemount's leases, with an estimated inventory of over 500 drilling locations based on allowable 40-acre well spacing.

About Wedgemount Resources Corp.

Wedgemount Resources is a junior natural resource company focused on maximizing shareholder value through the acquisition, development and exploitation of energy projects in the Southern United States.

We seek Safe Harbor.