The TSX Venture Exchange has accepted for filing documentation pertaining to a call option agreement dated Aug. 16, 2014, among Vendetta Mining Corp. and Pegmont Mines Ltd. Pursuant to the agreement, the company has been granted the option to acquire a 100-per-cent interest in the Pegmont property, located in Australia.

Under the terms of the agreement, consideration to earn a 100-per-cent interest in the property is as follows:

• Within two days of exchange approval -- $250,000 (Australian) cash;
• Within one year of the approval date -- $250,000 (Australian) cash, $800,000 (Australian) on exploration;
• Within two years of the approval date -- $500,000 (Australian) cash, $800,000 (Australian) on exploration;
• Within three years of the approval date -- $750,000 (Australian) cash, $800,000 (Australian) on exploration;
• Within four years of the approval date -- $1.25-million (Australian) cash;
• Total $3-million (Australian) cash, $2.4-million (Australian) on exploration.

Exploration expenditures for the property comprise a minimum of $800,000 (Australian) each year or meeting minimum requirements by the State of Queensland (whichever is greater) by Aug. 10 of each year during the first three years of the agreement. In addition, the company has agreed to reimburse Pegmont for $300,000 (Australian) of exploration expenses incurred during 2014 to date. These expenditures will be applied to the overall exploration expenditures under the agreement.

In the event that the company fulfills all of its obligations under the agreement, the company has agreed to pay an advance royalty to the vendor of $3-million as part of final transfer of the property.

The vendor will retain a 1.25-per-cent net smelter return.

A finder's fee of up to $182,500 (Australian) is payable in cash to Adrian Ryan pursuant to a finder's fee agreement.

For additional information please refer to the company's news releases dated Nov. 21, 2013, Aug. 11, 2014, and Aug. 27, 2014.