Vango Mining Ltd: Next Phase of Drilling Commences at Marymia Gold Project

Sydney, Australia - Vango Mining Ltd. (ASX:VAN) is pleased to announce that its 2021 drilling campaign has commenced at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia.

Highlights

- Vango Mining has commenced its 2021 drilling campaign at its flagship Marymia Gold Project

- Drilling is targeting 11 priority open pits not currently part of Marymia Project's 1.02Moz @ 3.0 g/t Au JORC 2012 Resource

- Drilling is designed to add significant near-surface resources amenable to open pit mining as part of any future mining operation at Marymia

- Results will be released as they become available

- Vango aims to deliver a substantial Indicated and Inferred resource increase to the existing Marymia resource this year

Vango's 2021 field season is focused on drilling at 11 priority open-pit targets, not currently part of the Marymia JORC 2012 resource base, and is designed to add significant, near-surface resources amenable to open pit mining as part of any future mining operation at the Marymia Project.

The Company plans to complete a minimum of 15,000 metres of reverse circulation (RC) drilling in this drilling campaign, with the ability to expand the campaign subject to results.

Drilling is specifically designed to deliver a substantial (Indicated and Inferred) resource increase to the existing Marymia resource base. It will also enhance the understanding of the mineralised zones within the targeted open pits for the benefit of Vango's mine planning, and for assessing funding requirements for the Company's proposed stand-alone mining operation.

This campaign is also designed to deliver 'critical mass' to increase the mine life of a proposed future mining operation from Marymia's resource base, specifically targeting an increase in total ounces to ensure that mill capacity of any future mining operation is maximised over the Project's total mine life.

Details of 2021 Drilling Campaign
Drilling is planned to be conducted on a nominal 20m by 40m drill spacing, which will give appropriate coverage of mineralised zones to determine the tenor of the mineralisation at depth and facilitate the calculation of Indicated and Inferred resources. Drilling is planned to a nominal depth of 160 metres, angled to approximately 60deg, testing to 120 metres vertical below surface.

The 11 open pit targets have been ranked in order of priority, based on historic gold inventory and a review of historic drilling, and the proposed drillholes at each target have been designed.

The 11 open pits to be targeted are; Apollo, Exocet, Ibis, Kookaburra, Parrot, Pigeon, Prickleys, Redfin, Rosella, Skyhawk and Speckled are shown on Figure 1*. The Skyhawk, Parrot and Apollo open pits have been assessed as the highest priority targets, and the first phase of drilling has commenced at the Skyhawk open pit.

Background to 2021 Drilling Campaign

Vango completed an extensive 20,000 metre reverse circulation (RC) and diamond drilling drill campaign in 2020, and all results from this campaign have been released to the market. The program focused on priority targets at the Trident gold corridor and PHB gold corridor at Marymia.

Vango has compiled all results from the 2020 drilling campaign into the Marymia Project's resource model, and has completed an extensive geological review and modelling of the Marymia Project. The results of this work have formed the basis of Vango's 2021 field season, focusing on open-pit targets designed to add significant, near-surface resources to the existing Marymia JORC resource base.

The Company plans to release an updated and expanded JORC 2012 resource for the Marymia Project, including results from the 2020 and 2021 drilling campaigns, in the second half of calendar 2021.

The Marymia Project's current JORC 2012 resource is 10.38Mt @ 3.0 g/t Au for 1.02Moz Gold, announced on 20 May 2020.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/489AY8VK

About Vango Mining Ltd:

Vango Mining Ltd. (ASX:VAN) is an exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) located in the mid-west region of Western Australia, consisting of 45 granted mining leases over 300km2.

Marymia has an established high-grade resource of 1Moz @ 3 g/t Au, underpinned by Trident - 410koz @ 8 g/t Au, with immediate extensions open at depth/along strike.

Source:
Vango Mining Ltd.

Contact:

Bruce McInnes Executive Chairman Vango Mining Ltd. E: info@vangomining.com T: +61 418 183 466 W: www.vangomining.com Media and Investor Inquiries James Moses Mandate Corporate E: james@mandatecorporate.com.au T: +61 420 991 574