Vango Mining Limited: Drilling Update at Marymia Gold Project

Sydney, Australia - Vango Mining Ltd. (ASX:VAN) is pleased to provide the following update on its ongoing 2021 drilling campaign at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia.

Vango commenced its latest phase of drilling at Marymia in July (Vango's ASX announcement, 9 July 2021), and has made substantial progress. Drilling is focused on 11 priority open-pit targets base (Figure 1) not currently part of the Marymia JORC 2012 resource base. It 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 has completed 44 holes for a total of 7,220 metres of reverse circulation (RC) drilling at nine high priority open pits targets to date, and assay results are currently pending and are due imminently. See Table 1* for details of holes and metres completed to date for each open pit.

Vango is highly encouraged by its initial assessment of the drilling. Drilling has intersected veining and alteration associated with mineralisation across multiple zones, in all the pit targets drilled to date.

The Company plans undertake a minimum of 15,000 metres of RC drilling in this drilling campaign, with the ability to expand the campaign subject to results.

The program is designed to test for depth and strike extensions of the open pit targets, which were previously mined solely from near-surface oxide material in 45 open pits.

Drilling is being undertaken to a target depth of approximately 160 metres below surface, and has been extended in a number of holes which ended in mineralisation at this target depth. At the Parrott open pit, all holes were drilled to a depth of more than 190 metres, which included a hole to 217 metres depth - the deepest hole in the program to date.

Drilling is currently underway and ongoing at the Redfin open pit, which is located adjacent to the large-scale Salmon open pit at Superior Gold Inc.'s 5.5-million-ounce gold mine immediately south of Vango's Marymia Project.

Details of 2021 Drilling Campaign

The 11 open pits to be targeted in the 2021 drilling campaign are; Apollo, Exocet, Ibis, Kookaburra, Parrot, Pigeon, Prickleys, Redfin, Rosella, Skyhawk and Speckled (Figure 1*). 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.

Drilling is specifically designed to extend (Indicated and Inferred) resources adding to the substantial 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.

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 completed an extensive geological review and modelling of the Marymia Project, incorporating results from the 2020 drilling campaign. 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.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/763O0115

About Vango Mining Limited:

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