Vango Mining : Intersects Wide, High-Grade Gold Zones at Marymia

ASX Announcement

25 February 2022

	Vango Intersects Wide, High-Grade Gold Zones at
	Marymia Gold Project
Highlights
•	Second-phase drilling in Vango's open-pit focused drilling campaign has been
only•	completed at the Skyhawk open-pit
This drilling at Skyhawk comprised 6 RC holes for 1014m with significant gold
	results returned in 5 holes, including high-grade gold intersections:
	o 15m at 3.5 g/t Au from 113m in VSKRC0010 incl. 7m at 6.6 g/t Au from 119m
	o 12m at 2.4 g/t Au from 110m in VSKRC0009 incl. 1m at 7.6 g/t Au from 118m
•	These results are within the same area as the previously reported result from
use	Vango's first-phaseopen-drilling at Skyhawk of:
o 16m @ 4.4 g/t Au, from 54m in VSKRC0007, including 6m @ 8.2 g/t Au1
•	These thick, high-grade gold intersections are in addition to high-grade historical
personalVango Mining Limited (Vango, ASX: VAN) is pleased to announce further high-grade gold intersections
	drilling results at Skyhawk, which intersected;
	o 18m @ 2.0 g/t Au, from 76m in DSHRC0023, including 1m @ 8.5 g/t Au 1
	o 16m @ 3.5 g/t Au from 132m in DSHRC0014
	o 12m @ 2.5 g/t Au from 65m in DSHRC0004
	o 18m @ 2.0 g/t Au from 76m in DSHRC0023
	o 7m at 4.6 g/t Au from 67m in DSHRC0015
	o 5m at 6.4 g/t Au from 84m in DSHRC00152
•	The results confirm the excellent potential for an open pittable resource at
	Skyhawk to add to the existing 1Moz resource at the Marymia project
•	Resource upgrade to be confirmed by end of Q2, 2022 - to be compiled by Dr Spero
	Carras

from drilling at the Skyhawk open-pit target as part of its open-pit focused drilling campaign at the ForCompany's flagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western

Australia.

The latest assay results are from 6 reverse circulation (RC) drillholes for a total of 1,014m at the Skyhawk open-pit, as part of Vango's second-phase of drilling at priority open-pit targets. Significant gold was intersected in 5 of the holes including the following wide and high-grade gold results:

1. 15m at 3.5 g/t Au from 113m in VSKRC0010 incl. 7m at 6.6 g/t Au from 119m

1. "Drill Results Confirm Potential Open Cut model at Marymia" - VAN ASX 14/09/2021
2. "Wide High-Grade Intercept at Skyhawk" - VAN ASX 21/09/2021

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

1. 12m at 2.4 g/t Au from 110m in VSKRC0009 incl. 1m at 7.6 g/t Au from 118m

onlyThese results are highly encouraging. They are supported by several other zones showing the potential for an economic resource in the area below the previously mined laterite material at the Skyhawk open-pit, including;

• 1m at 2.2 g/t Au from 85m in VSKRC0008
• 1m at 1.2 g/t Au from 126m in VSKRC0009
• 4m at 1 g/t Au from 144m in VSKRC0009
• 1m at 1 g/t Au from 141m in VSKRC0010
• 1m at 1.7 g/t Au from 162m in VSKRC0012
• 4m at 1.5 g/t Au from 64m in VSKRC0013
• 1m at 1.2 g/t Au from 81m in VSKRC0013

useThe intercepts in holes VSKRC009 and 10 are located close to the previously announced result in VSKRC0007, from the first phase of drilling at Skyhawk last year,3 which returned:

• 16m @ 4.4 g/t Au, from 54m in VSKRC0007, including 6m @ 8.2 g/t Au

These results extend an excellent zone of mineralisation from historical drilling previously reported from Skyhawk4:

• 18m @ 2.0 g/t Au, from 76m in DSHRC0023, including 1m @ 8.5 g/t Au
• 16m @ 3.5 g/t Au from 132m in DSHRC0014
• 12m @ 2.5 g/t Au from 65m in DSHRC0004
• 7m at 4.6 g/t Au from 67m in DSHRC0015
• 5m at 6.4 g/t Au from 84m in DSHRC0015

personalSkyhawk open-pit - Commentary

Vango's drilling results at Skyhawk demonstrate the continuation of a significant zone of near-surface gold mineralisation, which has extended the mineralised zone at Skyhawk.

See cross sections from latest round of drilling in Figures 1 and 2, and a plan view of current and historic drilling intersections in Figure 3.

ForSkyhawk is the first open-pit targeted in the second-phase of drilling at priority open-pits identified in the Company's open-pit focused drilling campaign. Vango has 11 targeted open pits (Figure 4) not currently part of the Marymia JORC 2012 resource, which stands at 1.02Moz @ 3.0 g/t Au5, in this extensive ongoing drilling campaign. It is designed to add significant near-surface resources amenable to open pit mining, as part of any potential future mining operation at the Marymia Project.

Vango is delighted with the results of this second round of drilling at the Skyhawk target, which has reaffirmed and strengthened its significant open-pit potential. These results will be modelled to

1. "Drill Results Confirm Potential Open Cut model at Marymia" - VAN ASX 14/09/2021
2. "Wide High-Grade Intercept at Skyhawk" - VAN ASX 21/09/2021
3. VAN ASX, 20/05/20 "Marymia Mineral Resource Increases to One Million Ounces"

www.vangomining.com	2

determine the full controls on this significant wide gold zone and plan further targeted drilling at depth.

personal use only
For	Figure 1: Cross Section 28320mE at the Skyhawk open pit target

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For personal use only

Figure 2: Cross Section 28280mE at the Skyhawk open pit target

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For personal use only

Figure 3: Drilling plan Skyhawk showing current and previous drilling intersections

www.vangomining.com	5