Mr. Michael Williams reports

VENDETTA OBTAINS EXTENSION TO THE PEGMONT PRE-PAID ROYALTY PAYMENT TO EARN 100% OF PEGMONT LEAD-ZINC PROJECT

Vendetta Mining Corp. has signed an amendment to its agreement with Pegmont Mines Ltd., the vendor of the Pegmont project.

To obtain 100 per cent of the Pegmont project, the company had to complete certain drilling milestones and make option payments and a prepaid royalty payment; in doing so, the company would also obtain a $5.25-million (Australian) credit against future royalties.

To date, the company has completed all necessary drilling requirements, work commitments and payments under the option agreement. The final $1-million (Australian) option payment and the $3-million (Australian) prepayment of future royalties are due on Nov. 6, 2018.

The company will pay the vendor the final $1-million (Australian) cash option payment by the due date.

The vendor has granted the company an extension to the $3-million (Australian) payment, a prepayment of future royalties from the Pegmont project subject to certain additional payments as described as follows.

The company is assessing several financing options for the prepaid royalty; the extension provides time for that process to be completed, which includes, in some cases, time needed for third parties to complete due diligence.

The company and the vendor will now seek indicative approval from the Queensland Minister for Natural Resources, Mines and Energy for transfer of the project to Vendetta.

Extension terms:

• The option is not exercised until the prepaid royalty and any additional payments as defined as follows are made.
• In the event the prepaid royalty is paid between Nov. 1, 2018, and Nov. 29, 2018, the company will make an additional payment of $50,000 (Australian) and the company's credit against the future royalties will be reduced from $5.25-million (Australian) to $5-million (Australian).
• In the event the prepaid royalty is not paid by Nov. 30, 2018, the company will make a payment of $100,000 (Australian) on Dec. 1, 2019, and, in doing so, the vendor has been granted an extension to March 31, 2019.
• In the event the prepaid royalty is not paid by March 31, 2019, the company will pay an additional $300,000 (Australian) on April 1, 2019, and, in doing do, so the vendor has granted an extension to May 6, 2019.
• In the event the prepaid royalty is not paid by May 6, 2019, the company will pay an additional $350,000 (Australian) and the company's credit against the future royalty will be reduced from $5-million (Australian) to $4.5-million (Australian), and, in doing so, the vendor has granted an extension to Nov. 6, 2019.

The company would like to thank the board of Pegmont Mines Ltd. and, in particular, director and chief executive officer Malcolm Mayger and chairman John Armstrong for their continued support of the company and its progress made in advancing the Pegmont lead-zinc project toward production.

Vendetta's chief executive officer and president, Michael Williams, stated: "We appreciate the flexibility that the extension provides. The spirit of the extension was to restore the original option agreement cash payments that were forgone by Pegmont Mines Ltd. in 2015 due to the difficult market conditions that prevailed at the time. Then as now, both parties understand the benefit of directing cash towards advancing the project, which ultimately is to everyone's advantage."

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-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 kilometres 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.

The company is progressing a preliminary economic assessment of the Pegmont project, which is contemplating a stand-alone operation, processing ore at a rate of one million tonnes per year, producing separate lead and zinc concentrates.

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.

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.