Vendetta Announces Closing of First Tranche of Private Placement

Vancouver, December 21, 2021 - Vendetta Mining Corp. (TSXV: VTT) ("Vendetta" or the "Company") is pleased to announce that the Company has closed the first tranche of its non-brokered private placement announced on December 9, 2021 (the "Private Placement"). The Company issued 5,454,545 common shares (each, a "Share") of the Company at a price of $0.055 per Share to Singapore J&Y Investment Pte. Ltd. (the "Investor") for gross proceeds of $300,000. The Shares are subject to a four month and one day hold period expiring on April 22, 2022.

The Company intends to use the proceeds of the first tranche of the Private Placement primarily to retire a portion of the loan from Nebari Holdings LLC as well as for general working capital purposes. No finder's fees were paid under the first tranche of the Private Placement.

Closing of the second tranche of the Private Placement will be subject to customary closing conditions, including approval by the TSX Venture Exchange (the "Exchange"), approval by the Australian Foreign Investment Review Board and the Investor's satisfactory completion of due diligence. The Company anticipates that these approvals could take up to 90 days. For additional details regarding the second tranche of the Private Placement, please refer to the news release of the Company dated December 9, 2021 available on the Company's website as well as the SEDAR profile of the Company on www.sedar.com.

About Singapore J&Y Investment PTE. LTD.

Singapore J&Y Investment PTE.LTD. ("J&Y") is a Singapore based private investment firm operating in the mining and financial sectors, partnering with companies to build strong, successful, innovative and sustainable businesses that strive to produce superior returns to all stakeholders.

In the mining sector, J&Y pays attention to non-ferrous metal mining projects at various stages, and particularly in the upgrading and development of mining projects on important metallogenic belts in Oceania, North America, South America. In the financial sector, J&Y focuses on the investment of high-quality assets in the fields of ecological protection and sustainability.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advancing the Pegmont Lead Zinc project in Australia. Additional information on the Company can be found at www.vendettaminingcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Michael Williams"
Michael Williams
President & CEO
604-484-7855

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding the closing of the second tranche of the Private Placement; the anticipated timing of the closing of the second tranche of the Private Placement; Exchange approval and the timing thereof; approval by the Australian Foreign Investment Review Board and the timing thereof; the intended use of proceeds from the Private Placement; and other future events or developments are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur".

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the receipt of all Exchange and regulatory approvals necessary to complete the Private Placement and that the Company is able to obtain any government or other regulatory approvals. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that all closing conditions are not met; Exchange and regulatory approvals are not received or are not received on the anticipated timelines; operational risk; political risk; currency risk; capital cost inflation risk; and market risks. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.

Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108267