Mr. W. John Priestner reports

VENDOME RESOURCES ANNOUNCES CONSOLIDATION, DEBT SETTLEMENT AND ISSUANCE OF OPTIONS

Effective Sept. 28, 2016, at market open, Vendome Resources Corp. will consolidate its common shares on the basis of one new postconsolidation common share for every 10 preconsolidation common shares. The company's common shares will begin trading on a postconsolidated basis on the TSX Venture Exchange on Sept. 28, 2016.

As a result of the consolidation, the company's currently outstanding 139,307,795 common shares will be reduced to 13,930,773 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The company's name and trading symbol will remain unchanged. The consolidation was approved by the shareholders of the company on Sept. 6, 2016, and accepted by the TSX Venture Exchange on Sept. 26, 2016.

The company's new Cusip number is 922626205, and the new ISIN number is CA9226262058.

Registered shareholders will be required to exchange their share certificates representing preconsolidation common shares for new share certificates representing postconsolidation common shares. Registered shareholders will be sent a transmittal letter, as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing preconsolidation shares may be surrendered to the company's transfer agent, Capital Transfer Agency Inc. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of postconsolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing preconsolidation common shares of the company will be deemed for all purposes to represent the number of whole postconsolidation common shares to which the holder is entitled as a result of the consolidation. Copies of the letter of transmittal may be obtained from the company at care of Garfinkle Biderman LLP, 1 Adelaide St. East, Suite 801, Toronto, Ont., M5C 2V9, by mail or at info@vendomeresourcescorp.com.

Debt settlement

In connection with the company's effort to restructure, the company has also negotiated debt settlement agreements with various creditors. The outstanding debt with the creditors will be extinguished through reduction of current debt from approximately $187,778.69 to $130,000 and the issuance of shares on a postconsolidation basis. The company has agreed to settle the reduced amount of the debt in exchange for the issuance of an aggregate of 650,000 postconsolidated common shares. The debt settlement will be based on a deemed price of 20 cents per share on a postconsolidated basis.

The company will close the debt settlement and issue the common shares once the consolidation has been completed and the debt settlement documentation has been accepted and approved by the exchange. The common shares issued pursuant to the debt settlement will be subject to a four-month hold period.

Granting of options

In addition, the company is pleased to announce that the company has granted 1.05 million incentive stock options to various employees, directors and a consultant. The options are exercisable at 20 cents per option, on a postconsolidation basis, for a period of three years from the date of grant and have no vesting conditions. The options are being issued under the terms of the company's stock option plans, which were approved by shareholders at the company's annual general and special meeting on Sept. 6, 2016.

We seek Safe Harbor.