DGAP-News

Vendetta Mining Closes $4,238,219 Private Placement

DGAP-News: Vendetta Mining Corp. / Key word(s): Miscellaneous Vendetta Mining Closes $4,238,219 Private Placement 29.04.2017 / 01:14 The issuer is solely responsible for the content of this announcement. Vancouver, British Columbia--(Newsfile Corp. - April 28, 2017) - Vendetta Mining Corp. (TSXV: VTT) ('Vendetta' or the 'Company') is pleased to announce that it has closed an oversubscribed private placement announced on April 10th, 2017 (and revised April 24th, 2017). The Company issued a total of 21,191,095 units at a price of $0.20 per unit for gross proceeds of $4,238,219; each $0.20/unit comprises one common share and one-half of one common share purchase warrant exercisable for two years at a price of $0.30 subject to certain acceleration terms.

Net proceeds from the financing will be used for the 2017 resource development program at the Company's Pegmont lead-zinc deposit in Queensland, Australia and general working capital. A more detailed description of the 2017 planned program is contained in the April 10^th news release.

Total commissions of $131,716 were paid and 667,780 finders warrants were issued associated with the proceeds of this private placement.

About Pegmont

The Pegmont lead-zinc-silver deposit is located in North West Queensland Mineral Province, 175 km south-east of the major mining centre of Mount Isa, and 25 km west of South32's world class Cannington silver-lead-zinc operation and 28 km north of Chinova Resources' Osborne and Kulthor copper-gold operations. It is proximate to infrastructure including roads, rail, and natural gas for power generation.

Pegmont is a multiple lens, stratiform Broken Hill style deposit that outcrops with an overall shallow dip to the south east and is hosted in a magnetite rich banded iron formation within high grade metamorphic rocks. The Company has, through its programs confirmed Zone 5 is an area of higher grade zinc and multiple mineralized horizons. The project consists of three granted mining leases and two exploration permits that cover an area of approximately 3,468 ha.