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 September 10, 2015 - 5:23 PM EDT
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Vendetta Mining Corp. Announces a $ 1,500,000 Non-Brokered Private Placement

(via Thenewswire.ca)

Vancouver, BC / TheNewswire / September 10, 2015 - Vendetta Mining Corp. (VTT-TSX:V) ("Vendetta" or the "Company") announces that the Company intends to carry out a non-brokered private placement (the "Offering") of up to 15,000,000 units ("Units") of the Company at a price of $0.10 per Unit for gross proceeds of up to $1,500,000.

Each Unit will be comprised of one common share and one-half of a share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.13 per share for a period of three years. All securities issued in connection with the Financing will be subject to a four-month hold period.

The proceeds of the Private Placement will be used to advance the development of the Pegmont project including resource development drilling at the newly discovered Burke Hinge Zone (located near surface) and Zone 5 (open in all directions), metallurgical test work, property payments and for general working capital. On completion of the drilling and metallurgical programs the Company intends to update the NI 43-101 Mineral Resource Estimate.

Over 6,500 m of drilling has now been completed since the February 2014 NI 43-101 Mineral Resource Estimate (see Table 1 below). The following drilling highlights from the Burke Hinge Zone and Zone 5 are not included in the current NI 43-101 Mineral Resource Estimate:

Bore Hole

Interval m*

Grade

Pb % Zn %

Burke Hinge Zone

PVR018

5.0

6.86

2.85

PVR019

6.0

8.48

4.21

PVR021

9.0

5.58

3.94

and

6.0

6.98

3.13

Zone 5

PVRD017

4.0

5.83

11.34

PVRD013

8.8

8.73

3.99

PVRD010

4.2

6.29

5.64

PMR282

9.0

6.35

6.88

PMR290

9.0

5.30

3.11

PMR294

10.0

4.77

3.91

PMRD141

6.6

8.11

4.57

* True widths are estimated at 90 to 100% of the down-hole intersection length in Table 1 and 2.

Note: For full details about the above drilling results please see the Companies previous new releases on the 15th October 2014, 28th January 2015 and 10th February 2015.

A commission may be paid to certain parties who introduce the Offering to qualified investors. Closing the Offering is subject to customary closing conditions including, but not limited to; the negotiation, execution of definitive placement agreements and receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.

About The Pegmont Lead Zinc Project

The Pegmont lead-zinc-silver deposit is located in North West Queensland Mineral Province, 175 km south-east of Mount Isa, 25 km east 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 stratiform 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 project consists of three granted mining leases and two exploration permits that cover an area of approximately 3,468 ha. Discovered in 1971, a total of 408 bore holes for 44,746 m have been completed on the project prior to 2014. The current NI 43-101 Pegmont Mineral Resource Estimate for Zones 1 to 4 is presented below in Table 1.

Table 1. Pegmont Deposit Mineral Resource Estimate, effective date of 28 February 2014*

Oxidation State

Mineral

Resource Category

Tonnes

kt

Grade

Pb %

Zn %

Ag g/t

Sulphide

Indicated

757

6.66

2.69

11.87

Inferred

4,417

6.51

2.80

10.56

Transition

Indicated

797

4.50

2.17

6.88

Inferred

1,066

5.01

2.23

6.77

Oxide

Indicated

512

4.56

1.58

6.37

Inferred

614

5.76

1.23

5.18

*Reference: "Technical Report Pegmont Property Mineral Resource Estimate" AMC Mining Consultants (Canada) Ltd, effective date of 28 February 2014. The Technical Report is available on SEDAR.

Notes on Table 1:

1. CIM definitions were used for the Mineral Resources.

2. The cut-off grade applied to the oxide and transition Mineral Resources is 3% Pb + Zn, the sulphide cut-off grade is 5% Pb + Zn.

3. Cut off is based on $0.90 /lb for Pb and Zn, a $0.90 AU$:US$ exchange rate, and 90% recovery for both metals.

4. Specific gravity used by oxidation state: 3.2 t/m3 oxide, 3.4 t/m3 transition and 3.9 t/m3 sulphide.

5. Using drilling results to 12 December 2013.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced stage exploration projects in Australia, the first of which is the recently optioned Pegmont Lead Zinc project. Additional information on the Company can be found at www.vendettaminingcorp.com

Qualified Person

Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

"Michael Williams"

Michael Williams

President & CEO

Forward Looking Information

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.

Disclaimer

All statements within, other than statements of historical fact, are to be considered forward looking. Although Vendetta Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: the completion of the full exploration program for which the use of proceeds is geared toward, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance further exploration, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release and as such, accepts no responsibility for the adequacy or accuracy of this release.

Copyright (c) 2015 TheNewswire - All rights reserved.


Source: TheNewsWire (September 10, 2015 - 5:23 PM EDT)

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