Vango Mining Limited: Intercepts Additional High-Grade Gold

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

The latest results are from the final hole drilled at the Pigeon open-pit target (Figure 3*) and extend the excellent results from the first four holes at Pigeon, announced to the ASX on the 14 December 2021.

Pigeon Open Pit

The Pigeon open-pit was targeted with five drillholes in Vango's ongoing open-pit focused resource extension program. Results from the final hole have now been received, and are reported in this announcement, with five gold zones greater than 1 g/t Au within broader mineralised structures (Figures 1 and 2*):

o 2m @ 1.2 g/t Au from 94m in VPIRC0005 including 1m @ 1.9 g/t Au from 94m
o 3m @ 3.2 g/t Au from 133m in VPIRC0005 including 1m @ 8.31 g/t Au from 134m
o 1m @ 2.5 g/t Au from 159m in VPIRC0005 (repeat of 8.84 g/t Au)
o 2m @ 4.9 g/t Au from 166m in VPIRC0005 incl 1m @ 8.7 g/t from 166m
o 1m @ 1.2 g/t from 190m in VPIRC0005

These are in addition to the results from the first four holes previously reported (see below). All five holes from the program have returned significant gold intercepts:

o 9m at 3 g/t Au from 111m in VPIRC0004 incl. 3m at 7.9 g/t Au from 114m
o 2m at 1 g/t Au from 157m in VPIRC0004
o 4m at 1.1 g/t Au from 134m in VPIRC0001
o 2m at 2.2 g/t Au from 115m in VPIRC0002
o 7m at 0.8 g/t Au from 124m in VPIRC0002
o 12m at 1 g/t Au from 121m in VPIRC0003

The results from the first four holes showed the continuity of a strong gold zone that broadly follows an interpreted mineralised structure, following the contact between sediments and mafic packages.

The results from hole VPIRC0005 suggest this structure is still important but has been offset somewhat by a later structure. This structure appears to have offset this mineralised zone and opens up the potential at Pigeon significantly to the west, which is also supported by historical intercepts in holes PGRC0137, PGRC0185 and PGRC0188 - which were further north than those on the eastern side of the pit (Figure 1*). These historical results (see below) were also detailed in the previous announcement:

o 4m at 8.2 g/t Au from 71m in FRC1585
o 7m at 1.7 g/t Au from 51m in FRC9606
o 9m at 2.1 g/t Au from 90m in PGRC0079
o 16m at 1.5 g/t Au from 77m in PGRC0106
o 13m at 1.2 g/t Au from 86m in PGRC0112
o 8m at 2.6 g/t Au from 52m in PGRC0137 incl. 1m at 5.8 g/t Au from 52m
o 12m at 1 g/t Au from 83m in PGRC0138 incl. 2m at 3.4 g/t Au from 83m
o 1m at 9.3 g/t Au from 101m in PGRC0139
o 14m at 1.6 g/t Au from 106m in PGRC0141
o 12m at 1.5 g/t Au from 94m in PGRC0143 incl. 3m at 4.6 g/t Au from 99m
o 9m at 2.2 g/t Au from 47m in PGRC0185 incl. 1m at 5.7 g/t Au from 47m
o 2m at 5.2 g/t Au from 68m in PGRC0185
o 5m at 1.9 g/t Au from 54m in PGRC0188 incl. 1m at 7.6 g/t Au from 54m
o 15m at 1.7 g/t Au from 100m in PMRC0001

2021 Drilling Campaign Progress and Next Steps

Vango is targeting 11 priority open-pits in its ongoing open-pit focused 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. All results have now been reported from first-phase drilling at the Skyhawk, Parrot, Apollo, Prickleys, Ibis, Exocet, Rosella and Pigeon open-pits. Results from drilling at the remaining 3 open-pits will be progressively released as they become available.

Vango plans to conduct a follow-up, second phase of drilling at all targets that delivered positive results from the completed first round of drilling, to test for further extensions of gold mineralisation to add to the Marymia resource base.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/94P5TI7J

About Vango Mining Limited:

Vango Mining Ltd. (ASX:VAN) is a minerals exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) in the mid-west region of Western Australia. The Project comprises 45 granted mining leases over 300km. It has an established high-grade resource of 1Moz @ 3g/t Au, underpinned by the Trident Deposit, whose resource is 410koz @ 8g/t Au, with immediate extensions open at depth/along strike.

The Marymia Project has the potential to become one of Australia's largest high-grade producers. The Greenstone Belt in the Marymia region includes six major gold corridors, which remain largely un-tested beyond 100m depth - supported with an extensive drilling and geophysical database. Previous mining between 1992-2001, produced 580,000 ounces of gold almost entirely from open-pits.

Vango is focused on growing its high-grade gold resource to support a proposed stand-alone gold mining and production operation at Marymia. The Project is located along strike, immediately to the north of Superior Gold's (CVE:SGI) Plutonic Gold Mine which has produced more than 5.5Moz of gold.

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