Vendome Resources Announces Consolidation, Debt Settlement and Issuance of Options - Seite 2

Debt Settlement

In connection with the Company's effort to restructure, the Company has also negotiated debt settlement agreements with various creditors. The outstanding debt with the creditors will be extinguished through reduction of current debt from approximately $187,778.69 to $130,000 and the issuance of shares on a post-consolidation basis (the "Debt Settlement"). The company has agreed to settle the reduced amount of the debt in exchange for the issuance of an aggregate of 650,000 post-consolidated common shares. The debt settlement will be based on a deemed price of $0.20 per share on a post-consolidated basis.

The Company will close the Debt Settlement and issue the Common Shares once the Consolidation has been completed and the Debt Settlement documentation has been accepted and approved by the Exchange. The Common Shares issued pursuant to the Debt Settlement will be subject to a four-month hold period.

Granting of Options

In addition, the Company is pleased to announce that the Company has granted 1,050,000 incentive stock options to various Employees, Directors and a Consultant. The options are exercisable at $0.20 per option, on a post-consolidation basis, for a period of 3 years from the date of grant and have no vesting conditions. The options are being issued under the terms of the Company's Stock Option Plans which were approved by shareholders at the Company's Annual General and Special Meeting on September 6, 2016.

About Vendome:

Vendome is a mineral exploration company located in Toronto, Ontario, Canada. Our primary focus is to acquire "near-term production" exploration mining projects and existing producers. Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.

About Vendome:

Vendome is a mineral exploration company located in Toronto, Ontario, Canada. Our primary focus is to acquire "near-term production" exploration mining projects and existing producers. Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.

ON BEHALF OF THE BOARD OF DIRECTORS OF VENDOME RESOURCES CORP.

W. John Priestner, President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Vendome Resources Corp.
W. John Priestner
President and Chief Executive Officer
[e-mail]