Vango Mining : Further High-Grade Gold at Marymia Open-Pits

ASX Announcement

21 February 2022

Highlights

• Results from final 3 open-pits in 1st phase open-pit drilling campaign received - from the Redfin, Speckled and Kookaburra open pits

o 2m at 2.8 g/t Au from 26m in VSPRC0002

o 3m at 1.9 g/t Au from 113m in VSPRC0004 incl. 1m at 4.3 g/t Au from 113m

• Drilling at Kookaburra confirmed the continuation of the mineralisation at depth, including 3m at 1.2 g/t Au from 59m in VKORC0001

• All results are in addition to historic drilling at these open-pits - highlight results of historical drilling are included in this announcement and will be included in a planned Marymia JORC resource upgrade due in H1, 2022

• Second-phase drilling completed at Skyhawk and Parrot open-pits- results pending

Vango Mining Limited (Vango, ASX: VAN, Company) is pleased to announce results from the final three targets from its extensive first-phaseopen-pit focused drilling campaign at the Company's

Forflagship Marymia Gold Project (Marymia, the Project) in the Mid-West region of Western Australia. The latest results are from the Redfin, Speckled and Kookaburra open-pit targets, and include further high-grade gold results, at the Redfin open-pit (Figure 5).

These results complement the Company's previously announced results from the first eight open- pits, which have extended unmined mineralised gold zones at depth at each pit, and has already resulted in further drilling at the Skyhawk and Parrot open-pits with results pending.

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The results from these holes showed the continuity of a strong gold zone that broadly follows an interpreted mineralised structure following the contact between sediments and mafic packages.

onlyResults from this drilling will significantly enhance the understanding of the primary zone and the controls on the high-grade mineralisation at Redfin. Importantly, the results also extend the known mineralisation beneath the existing pit, which includes the following highlighted historical intersections:

1. 18m at 2.4 g/t Au from 79m in FRC1341 o 11m at 5.9 g/t Au from 89m in FRC1342 o 10m at 2.8 g/t Au from 90m in FRC1363 o 12m at 4.3 g/t Au from 126m in FRC1504

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ForSpeckled Open Pit

Results from five 5 holes drilled during the phase 1 program at the Speckled pit have also been received. Significant results were received from all five holes as detailed below (Figure 3):

1. 1m at 0.6 g/t Au from 64m in VSPRC0001 o 2m at 2.8 g/t Au from 26m in VSPRC0002 o 2m at 1.1 g/t Au from 92m in VSPRC0002 o 1m at 0.5 g/t Au from 65m in VSPRC0003 o 1m at 0.8 g/t Au from 129m in VSPRC0003 o 1m at 0.8 g/t Au from 156m in VSPRC0003
   o 5m at 0.8 g/t Au from 50m in VSPRC0004 incl. 1m at 1.4 g/t Au from 54m

1. 3m at 1.9 g/t Au from 113m in VSPRC0004 incl. 1m at 4.3 g/t Au from 113m o 5m at 0.7 g/t Au from 47m in VSPRC0005 incl. 1m at 2.4 g/t Au from 51m o 1m at 0.6 g/t Au from 112m in VSPRC0005

Historical drilling outside the Speckled pit includes several good gold zones including:

The results at Speckled show the continuity of the structure along the contact between sediments and mafics once again, with a varying tenor of gold mineralisation.

The persistent occurrence of gold in this setting throughout the drilling is encouraging, and these results will be further integrated with the previous drilling in the area to determine the potential for any significant resources. While encouraged by these results this area is likely to be a lower priority

personaltarget for future drilling phases. For

Kookaburra Open Pit

onlyResults from four holes drilled at the Kookaburra pit, the final pit from the phase 1 drilling program, have also been received. Results showed once again further mineralisation adjacent and below the pit, but at a lower tenor to that in the oxide zone previously mined. The best intercept was 3m at 1.2 g/t Au from 59m in VKORC0001.

All Significant results are detailed below with 3 of the 4 holes hitting the mineralised target (Figure 4):

1. 3m at 1.2 g/t Au from 59m in VKORC0001 o 1m at 0.8 g/t Au from 53m in VKORC0002 o 1m at 0.8 g/t Au from 70m in VKORC0004

There are several wide gold intercepts from previous drilling outside the existing pit, including:

These results will be further modelled to determine if further work is warranted.

Figure 4 Kookaburra Open Pit 2021 drilling