Vango Mining Limited: Wide High-Grade Gold Intercept at Skyhawk

Sydney, Australia - Vango Mining Ltd. (ASX:VAN) is pleased to announce further high-grade gold intersections from drilling at the Skyhawk open-pit target as part of ongoing drilling at the Company's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia.

The latest assay result is from drill hole VSKRC0007, the final hole at the Skyhawk target in the current reverse circulation (RC) drilling campaign. It has successfully targeted extensions to higher zones of mineralisation intersected in previous drilling, and has intersected;

- 16m @ 4.4 g/t Au, from 54m in VSKRC0007, including 6m @ 8.2 g/t Au

This exceptionally high-grade result is 'up-depth' of previous drilling at Skyhawk, which intersected;

- 18m @ 2.0 g/t Au, from 76m in DSHRC0023, including 1m @ 8.5 g/t Au (ASX VAN release 14/9/2021)

This latest result, in conjunction with the similarly broad zone of mineralisation in DSHRC0023, demonstrates the continuation of a significant zone of near-surface gold mineralisation. It has extended the mineralised zone in the upper portion of the supergene zone at Skyhawk, above the mineralised zone in DSHRC0023 (Figure 2*).

Having such a broad zone of high-grade mineralisation from such a shallow depth in VSKRC0007 - from 54 metres - will enhance the economics of any potential future resource at the Skyhawk target.

Skyhawk is the first of 11 priority open pits to be drilled in Vango's 2021 drilling campaign. Drilling is targeting open pits (Figure 1*) not currently part of the Marymia JORC 2012 resource - 1.02Moz @ 3.0 g/t Au (ASX VAN release 20/05/2020). It is designed to add significant near-surface resources amenable to open pit mining, as part of any future mining operation at the Project.

Vango is delighted with the results of this first round of open pit-focused drilling at the Skyhawk target, which has reaffirmed and strengthened its significant open-pit potential.

Seven holes have now been completed and reported at Skyhawk, with highlight results from the first six holes (ASX VAN release 14/9/2021) shown below;

- 1m @ 12.1 g/t Au from 55m in VSKRC0003
- 1m @ 3.1 g/t Au from 48m in VSKRC0003
- 6m @ 1.9 g/t Au from 21m in VSKRC0004 incl 1m @ 6.4 g/t Au
- 3m @ 2.5 g/t Au from 59m in VSKRC0006 incl 1m @ 6.1 g/t Au

These results followed-up previous drilling at Skyhawk, which intersected extensive high-grade zones which remain open at depth and along strike, including:

- 16m @ 3.5 g/t Au from 132m in DSHRC0014
- 12m @ 2.5 g/t Au from 65m in DSHRC0004
- 18m @ 2.0 g/t Au from 76m in DSHRC0023

See Drilling plan for Skyhawk, showing current results and also previous drilling intersections, in Table 2.

2021 Drilling Campaign Progress and Next Steps

Vango is targeting 11 priority open pits in its 2021 drilling campaign. Drilling is designed to add resources to the substantial existing Marymia resource base, and to deliver 'critical mass' to Marymia's resource base to support a proposed stand-alone mining operation at the Project.

The first phase of drilling in all 11 open pits has now been completed and consisted of 8,914 metres of RC drilling across 56 holes, as outlined in Table 1* below.

All results have now been reported from the Skyhawk open pit, and results from drilling at the remaining 10 open pits will be progressively released as they become available.

Based on the strong results from drilling at Skyhawk, a second phase of drilling is now planned at this target. It will consist of seven holes and will test for further extensions of gold mineralisation at depth at Skyhawk.

Vango plans to conduct a follow-up, second phase of drilling at all targets that deliver positive results in the completed first round of drilling.

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.

Competent Persons' Statements

The Statement of Mineral Resource Estimates has been compiled by Dr. Spero Carras who is a full-time employee of Carras Mining Pty Ltd and a Fellow of the Australian Institute of Mining and Metallurgy ("FAusIMM"). Dr. Carras has sufficient experience, including over 40 years' experience in gold mine evaluation, relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ("JORC") Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Dr. Carras consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. The information in this report that relates to exploration results has been reviewed, compiled and fairly represented by Mr David Jenkins, a Member of the Australian Institute of Geologists and a full time employee of Terra Search Pty Ltd. Mr Jenkins has sufficient experience, including over 29 years' experience in exploration and resource evaluation relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ('JORC') Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Jenkins consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ZUS2FC38

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