Mr. Michael Williams reports

VENDETTA MINING CLOSES FIRST TRANCHE OF OVER-SUBSCRIBED PRIVATE PLACEMENT

Vendetta Mining Corp. has closed the first tranche of its oversubscribed private placement, previously announced on Aug. 30, 2018. The company also announces that it has increased the private placement from 8,333,333 units up to 11,111,111 units for gross proceeds of up to $2-million. In the first tranche, the company issued a total of 9,368,888 units at a price of 18 cents per unit for gross proceeds of $1,686,399.84. Each unit comprises one common share and one-half of one common share purchase warrant exercisable for two years at a price of 30 cents subject to certain acceleration terms.

Net proceeds from the financing will be used to advance the development of the Pegmont lead-zinc project and general working capital.

Total commissions of $12,722 were paid in association with the proceeds of this private placement.

Update on mineral resource technical report and preliminary economic assessment

The company issued a comprehensive news release disclosing the 2018 updated mineral resource estimate for the Pegmont lead-zinc project on Aug. 9, 2018, see the attached table. The 2018 mineral resource update was prepared by the same independent qualified persons from AMC Consultants who undertook the previous update, see "Pegmont Resource Update June 2017," filed on SEDAR.

The company wishes to advise that it will file a single technical report combining the 2018 mineral resource estimate with the preliminary economic assessment.

The company is pleased with the progress of the PEA, it is expecting to be able to release the results of the PEA mid-October.

          JULY, 2018, MINERAL RESOURCE ESTIMATE
                 (SEE NOTES FOR DETAILS)

Classification    Material type   Tonnes    Pb    Zn    Ag
                                     (kt)   (%)   (%) (g/t)

Indicated            Transition    1,111   4.9   2.3     8
                       Sulphide    4,647   6.9   2.6    12
                          Total    5,758   6.5   2.6    11
Inferred             Transition    1,829   5.2   2.0     7
                       Sulphide    6,447   5.1   3.1     9
                          Total    8,277   5.1   2.8     8

Notes:
1. Canadian Institute of Mining Definition Standards (2014) 
were used to report the mineral resources.
2. The mineral resource update has been prepared by 
independent qualified persons J.M. Shannon, PGeo, D. 
Nussipakynova, PGeo, M. Angus, MAIG, P. Lebleu, PEng, of AMC
and A. Riles, MAIG, of Riles Integrated Resource Management 
Pty. Ltd., and has an effective date of July 31, 2018.
3. Mineral resources are not mineral reserves and do not 
have demonstrated economic viability. There is no certainty 
that all or any part of mineral resources will be converted 
to mineral reserves. Quantity and grades are estimates and 
are rounded to reflect the fact that the resource estimate 
is an approximation.
4. Using drilling results up to April 15, 2018.
5. Cut-off grade applied to the open-pit mineral resources 
is 3 per cent Pb plus Zn and that applied to the underground 
is 5 per cent Pb plus Zn.
6. Based on the following metal prices: 95 U.S. cents per 
pound for Pb, $1.05 (U.S.)/lb for Zn and $16.5 (U.S.)/ounce 
for silver.
7. Exchange rate of 75 U.S. cents:$1.00 (Australian). 
8. Metallurgical recoveries vary by zone and material type 
as follows:
Lead to lead concentrate: from 80.6 per cent to 91.3 per 
cent for transition and 88.0 per cent to 92.7 per cent for 
sulphide.  
Zinc to zinc concentrate: from 19.3 per cent to 75.2 per 
cent for transition and 61.8 per cent to 78.5 per cent for 
sulphide.
9. Mineral resource tonnages have been rounded to reflect 
the accuracy of the estimate, and numbers may not add due to 
rounding.

About Pegmont

Pegmont is a stratiform, Broken Hill-type deposit that outcrops with an overall shallow dip to the southeast and is hosted in a magnetite-rich banded iron formation within high-grade metamorphic rocks. The project consists of three granted mining leases and one exploration permit that cover an area of approximately 8,290 hectares.

Pegmont is situated in the Mount Isa and McArthur mineral province, which hosts one of the world's richest endowments of lead-zinc-silver mineralization, including several world-class lead-zinc-silver mines.

Pegmont is located 25 kilometres west of South 32's Cannington silver-lead-zinc operation, one of the world's largest producers of lead and silver, and 28 km north of Chinova Resources' Osborne copper-gold operations. Pegmont is proximal to existing infrastructure including public roads, mine haul roads, rail and a natural gas pipeline for power generation.

About Vendetta Mining Corp.

Vendetta Mining is a Canadian junior exploration company focused on advanced stage exploration and development at the Pegmont lead-zinc project in Australia. Vendetta has an option to acquire a 100-per-cent interest by completing certain work requirements and making option and advance royalty payments. Additional information on the company can be found at its website.

Qualified person

Peter Voulgaris, MAIG, MAusIMM, a director of Vendetta, is a non-independent qualified person as defined by National Instrument 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.

We seek Safe Harbor.