Vango Mining Limited: Marymia Gold Project Intersects High Grade Gold

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

The latest assay results are from eight reverse circulation (RC) holes at the Parrot open-pit as part of Vango's second-phase of drilling at priority open-pit targets. Previous Phase 1 drilling at Parrot intersected broad structures with anomalous gold of moderate grade. The width and style of alteration made this pit area a priority for Vango's second phase of drilling.

The latest drilling was designed to further define the mineralisation at the Parrot open-pit target, and has delivered a highly positive outcome.

All eight holes intersected the mineralised structure and have confirmed the continuity of a significant gold bearing structure, with a highlight being hole VPARC0011 which returned 19m at 4.7 g/t Au from 81m including 2m at 18.6 g/t Au from 96m.

This zone demonstrates the potential for the Parrot area to produce significant gold at a potential future gold producing operation at the Marymia Project.

The most significant intercepts are summarised below:

- 19m at 4.7 g/t Au from 81m in VPARC0011 incl. 2m at 18.6 g/t Au from 96m
- 1m at 2.7 g/t Au from 109m in VPARC0005
- 9m at 1 g/t Au from 119m in VPARC0007 incl. 1m at 2.3 g/t Au from 127m
- 1m at 1 g/t Au from 132m in VPARC0007
- 11m at 0.7 g/t Au from 149m in VPARC0007 incl. 1m at 3.9 g/t Au from 156m
- 4m at 0.5 g/t Au from 113m in VPARC0008 incl. 1m at 1.2 g/t Au from 116m
- 2m at 1.2 g/t Au from 121m in VPARC0008
- 1m at 1 g/t Au from 128m in VPARC0008
- 1m at 1.1 g/t Au from 116m in VPARC0009
- 4m at 1 g/t Au from 109m in VPARC0010
- 2m at 0.9 g/t Au from 142m in VPARC0012

The gold intercept in Hole VPARC0011 is of significant grade and width, and is potentially part of a larger high-grade zone, which is planned to be targeted by further drilling once the results are fully examined. Refer Figures 1 and 2*.

The above results are in addition to the results from Vango's first-phase drilling at Parrot in 2021:

- 1m @ 2.5 g/t Au from 177m in VPARC0001
- 1m @ 1.3 g/t Au from 78m in VPARC0002
- 1m @ 1.2 g/t Au from 84m in VPARC0002
- 3m @ 1.3 g/t Au from 124m in VPARC0003
- 1m @ 1.1 g/t Au from 133m in VPARC0003

Vango's two phases of drilling at Parrot have followed up historic drilling intersections including:

- 12m @ 2.6 g/t Au from 43m in PARC0073
- 2m @ 11.1 g/t Au from 99m in PBR7977
- 8m @ 1.6 g/t Au from 67m in PBRD1753

Open-Pit Focused Drilling Campaign Progress and Next Steps

Vango targeted 11 priority open-pits in an extensive open-pit focused drilling campaign, commencing in H2, calendar 2021. Drilling was designed to add resources to the substantial existing Marymia resource base, and to assist in delivering '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 been completed and consisted of 8,914 metres of RC drilling across 56 holes. All results from the first-phase campaign have been received and reported.

Vango will now conduct follow-up, second phase drilling at 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.

Second-phase drilling has already been competed at the Skyhawk and Parrot open-pits. Results from drilling at the Parrot open-pit are reported in this announcement and results from the Skyhawk openpit were reported in ASX announcement of 25 February 2022.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/00C7QALX

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