Vango Mining : Drilling Confirms Rosella Mineralisation Extension at Depth

ASX Announcement

3 December 2021

Drilling confirms extension of mineralisation at depth at

only	Rosella Open-Pit

Results continue to expand Resource upgrade potential at Marymia Gold Project Highlights

• Results received from remaining holes at Rosella open-pit as part of Vango's 2021 open-pit focused drilling campaign

• Results confirm the continuity of the gold structure at depth across the open-pit
use	footprint, and include:
	o 2m @ 1.2 g/t Au from 89m in VRORC0002
	o 1m @ 2.2 g/t Au from 50m in VRORC0003
	o 3m at 2.6 g/t Au from 101m in VRORC0003 incl 1m @ 6.7 g/t Au from 102m
	o 1m at 4.0 g/t Au from 54m in VRORC0001
	o 3m at 10.0 g/t Au from 80m in VRORC0001 incl. 1m @ 27.0 g/t Au from 80m
personal• The 11 open-pits targeted in Vango's current drilling campaign are NOT part of the
	o 11m at 4 g/t Au from 83m in VRORC0004 incl. 6m at 6.6 g/t Au from 85m
• In addition to current results, historic drilling delivered multiple high-grade gold
	intersections at the Rosella open-pit including:
	o 8m at 10.5 g/t Au from 44m in RODD0062
	o 7m at 5.3 g/t Au from 83m in RORC0031 incl. 1m at 29.7 g/t Au from 86m
	o 2m at 4.4 g/t Au from 24m in PBP01339
	o 5m at 2.8 g/t Au from 71m in PBR1749
	o 5m at 5.4 g/t Au from 59m in PBRC0022 incl. 3m at 1.4 g/t Au from 61m
	o 8m at 3.6 g/t Au from 69m in RORC0030
	o 12m at 2.1 g/t Au from 76m in RORC0032
	o 8m at 3.7 g/t Au from 81m in RORC0034
For	existing Resource at the Marymia Project - results from the current campaign

plus historic results are to be included in a Resource upgrade in 2022

• Further results from the ongoing open-pit focused drilling campaign will be released as they become available

Vango Mining Limited (Vango, ASX: VAN) is pleased to announce further gold intersections from its ongoing open-pit focused drilling campaign 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 remaining two holes at the Rosella open-pit target (Figure 3).

Vango Mining Ltd	Issued Capital	Australian Registered Office	Directors
ABN: 68 108 737 711	1,259,937,632 Shares	Aurora Place	BRUCE MCINNES - Executive Chairman
ASX: VAN	115,864,406 Options	Building 1	SEAN ZHOU - Deputy Chairman - Non-Executive Director
		Level 29, 88 Phillip Street	HUNTER GUO - Non-Executive Director
		Sydney NSW 2000 AUSTRALIA	The Hon CRAIG WALLACE - Non-Executive Director
			Dr CAROL ZHANG - Non-Executive Director

www.vangomining.com

onlyuse personalFor Figure 1 Plan View Rosella Pit Area

Rosella Open Pit

As per the previous announcement (ASX announcement, 24 November 2021), Rosella is interpreted to be a faulted-off continuation of the adjacent Parrot Open Pit (Figure 1), which may present the potential for large-scaleopen-pit development and mining across the two open-pits. The gold mineralisation at Rosella is well-defined along a moderately north-west dipping structure within mafics, and near the contact with sediments in places.

Vango's current drilling has successfully confirmed the continuity of gold mineralisation at depth at Rosella (Figures 1 and 2). Results from the current drilling at Rosella include:

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only	o 1m at 4.0 g/t Au from 54m in VRORC0001
o 3m at 10.0 g/t Au from 80m in VRORC0001 incl 1m @ 27.0 g/t Au from 80m
o	11m at 4 g/t Au from 83m in VRORC0004 incl. 6m at 6.6 g/t Au from 85m
	o	2m @ 1.2 g/t Au from 89m in VRORC0002

o 1m @ 2.2 g/t Au from 50m in VRORC0003

o 3m at 2.6 g/t Au from 101m in VRORC0003 incl 1m @ 6.7 g/t Au from 102m

These results will be reviewed to establish the likelihood of economic resources being defined in the area with further drilling to be completed if warranted.

usePrevious drilling at Rosella also delivered multiple high-grade gold intersections. Highlight historic results include:

1. 8m at 10.5 g/t Au from 44m in RODD0062

1. 7m at 5.3 g/t Au from 83m in RORC0031 incl. 1m at 29.7 g/t Au from 86m o 2m at 4.4 g/t Au from 24m in PBP01339
   o 5m at 2.8 g/t Au from 71m in PBR1749
   o 5m at 5.4 g/t Au from 59m in PBRC0022 incl. 3m at 1.4 g/t Au from 61m o 8m at 3.6 g/t Au from 69m in RORC0030
   o 12m at 2.1 g/t Au from 76m in RORC0032 o 8m at 3.7 g/t Au from 81m in RORC0034

personal2021 Drilling Campaign Progress and Next Steps

Vango is targeting 11 priority open-pits in its 2021 drilling campaign. Drilling is designed to add esources 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 and Rosella open pits. Results from drilling at the remaining four open-pits will be progressively released as they become available.

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

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use only
personal			Figure 2 Cross-section Rosella 13780E
For	Table 1 2021 Drilling Rosella Collar information
HoleID	MGA E	MGA N	RL	North	East	Depth	Dip	Az		PIT
	VRORC0001	7206298	763324	595	6574	13861	159	-59.4		149.3	ROSELLA
	VRORC0002	7206262	763296	595	6557	13819	159	-58.9		153.2	ROSELLA
	VRORC0003	7206242	763257	595	6558	13775	159	-59.2		151.4	ROSELLA
	VRORC0004	7206196	763242	595	6525	13740	165	-59.3		148.7	ROSELLA
	VRORC0005	7206189	763196	595	6541	13696	159	-61.2		151.8	ROSELLA

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James Moses Investor Relations [e-mail] [phone]

Figure 3 Marymia Gold Project showing the 11 priority open pits.

Drilling results reported in this announcement are from the Rosella open-pit

onlyuse

personalAuthorised for release by the Board of Vango Mining Limited.

-ENDS-

For further information, contact:

Bruce McInnes Chairman [e-mail]

For[phone]

The information in this announcement is extracted from reports lodged as market announcements on the following dates:

• ASX: VAN 18/04/2019 "New High-Grade Trident Gold Resource Upgrade"
• ASX: VAN 20/05/2020 "Vango Mineral Increases to One Million Ounces"
• ASX: VAN 24/11/2021 "Spectacular Gold Intercepts at Rosella"

The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which

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