Mr. Michael Williams reports

VENDETTA MINING DISCOVERS NEW HIGH GRADE ZONE AT PEGMONT LEAD/ZINC DEPOSIT

Vendetta Mining Corp. has discovered a new high-grade lead/zinc zone in an area that had no previous drilling. The discovery hole PVRD092 intersected 6.2 metres of 12.99 per cent lead and zinc in the area between the Burke Hinge zone (BHZ) and zone 2. The company now refers to this area as the Bridge zone.

PVRD092 was immediately followed up with an additional seven drill holes on two section lines, see the attached table for assay results.

Highlights:

Bridge zone

• PVRD092 sulphide: 6.25 metres of 12.99 per cent lead plus zinc (10.15 per cent Pb, 2.84 per cent Zn);
• PVRD112 sulphide: 4.98 metres of 14.94 per cent Pb plus Zn (12.19 per cent Pb, 2.76 per cent Zn);
• PVRD114 sulphide: 5.06 metres of 14.66 per cent Pb plus Zn (11.09 per cent Pb, 3.57 per cent Zn);
• PVRD117 sulphide: 6.15 metres of 15.41 per cent Pb plus Zn (12.88 per cent Pb, 2.53 per cent Zn).

Burke Hinge zone

• PVRD092 transition: 8.31 metres of 8.63 per cent Pb plus Zn (5.83 per cent Pb, 2.81 per cent Zn);
• PVRD092 sulphide: 7.22 metres of 11.23 per cent Pb plus Zn (7.90 per cent Pb, 3.32 per cent Zn).

Michael Williams, Vendetta's president and chief executive officer, commented: "This result is further validation of the technical team's understanding of the Pegmont geology. We are looking forward to quickly developing a maiden resource and we have expanded the drill program to further delineate the Bridge zone."

Drill success of the Bridge zone confirms the concept whereby the structurally district settings of the moderately northeast dipping BHZ is connected to the generally flat dipping zone 2.

The success of PVRD092 was immediately followed up with a fan of three drill holes located approximately 85 m along strike to the southeast: PVRD106, 107 and 108. Both lead and zinc grades are improve in the down dip direction and a fourth drill hole is now planned 40 m down dip of PVRD108.

The company drilled a further four drill holes on the PVRD092 section from a different drill pad: PVRD112, 114, 115 and 117. All four drill holes intersected consistent grades and thicknesses, with a slight increase in grade in the down dip direction. Drill hole PVRD114 did not lift as planned and intersected within seven m of PVRD092, results indicate close spaced continuity of both grade and thickness.

The majority of the holes have a low-grade footwall of one to three m in garnet sandstone. A thin one to two m thick mineralized horizon lies eight to nine m below the footwall of the main mineralized lens.

The principal horizon intersected on the two sections is believed to be a continuation of Lens B, seen throughout Pegmont, which is now present over a continuous strike length of 1.8 kilometres.

The Bridge zone holes discussed in this release were expedited through the core shed and at the ALS laboratory, being prioritized in front of other completed holes to assist with drill rig scheduling and drill pad preparation.

A third Bridge zone section is currently being drilled, located 85 m to the northwest of the PVRD092 section line, three drill holes are planned. The first hole on that section is a re-entry of an historic RC hole (PMR020) and is being extended in NQ core, drilling is currently under way.

                    SUMMARY OF BRIDGE ZONE ASSAY RESULTS

                                                                                      Grade**
Bore hole          From (m) To (m) Interval (m) True thickness* (m) Pb+Zn %  Pb % Zn % Ag g/t

Bridge zone -- Section 1

PVRD115             234.38 242.00         7.62                 7.6     9.72  7.75 1.97     13  
including           234.38 239.03         4.65                 6.5    14.00 11.02 2.98     17  
PVRD112             232.30 238.30         6.00                 5.9    12.96 10.56 2.40     13  
including           232.30 237.28         4.98                 4.9    14.94 12.19 2.76     14  
PVRD114             219.60 225.66         6.06                 6.0    13.00  9.96 3.05     15  
including           219.60 224.66         5.06                 5.0    14.66 11.09 3.57     16  
PVRD092             265.16 271.41         6.25                 6.2    12.99 10.15 2.84     15  
PVRD117             235.00 245.15        10.15                10.0     9.86  8.24 1.62     11  
including           236.00 242.15         6.15                 6.0    15.41 12.88 2.53     16  
Bridge zone -- Section 2 
PVRD106             243.81 249.34         5.53                 5.5     4.91  2.17 2.74     11  
PVRD107             230.78 233.75         2.97                 2.9     9.87  8.15 1.72     17  
PVRD108             230.62 236.24         5.62                 5.5    10.88  8.73 2.15     14  
including           230.62 235.24         4.62                 4.5    12.81 10.27 2.53     16  

* True thickness is estimated using three-dimensional geological modelling and structural 
  measurements.

** Drill intersections are summarized using a combined 1-per-cent-lead-and-zinc grade with 
   maximum one m internal dilution. Included intervals are based on a combined 
   5-per-cent-lead-and-zinc grade.

Burke Hinge zone intersections

PVRD092 was collared in the BHZ so as to work from the known to the unknown, in doing so it intersected the upper and lower lenses of the BHZ as planned, although at better than expected grades. Results are summarized in the attached table.

The first intersection (26.60 to 34.91 m) in the hangingwall lens occurs in moderately weathered country rocks, the host banded iron formation is however more resistant to weathering and the lead-zinc mineralization is present as visible sulphides. This is typical of the transition mineralization intersected at the BHZ, where transition mineralization is defined as predominantly sulphide lead-zinc mineralization in variably weathered rocks. The second intersection (54.24 to 55.28 m) is sulphide lead-zinc mineralization in fresh country rock.

                     SUMMARY OF BURKE HINGE ZONE DRILL ASSAY RESULTS

                                                                                      Grade**

Bore hole          From (m) To (m) Interval (m) True thickness* (m) Pb+Zn %  Pb % Zn % Ag g/t

PVRD092              26.60  34.91         8.31                 8.2     8.63  5.83 2.81     10  
including            28.75  34.91         6.16                 6.1    11.12  7.61 3.51     13  
and                  54.24  61.46         7.22                 7.0    11.23  7.90 3.32     17  

* True thickness is estimated using three-dimensional geological modelling and structural 
  measurements.

** Drill intersections are summarized using a combined 1-per-cent-lead-and-zinc grade with 
   maximum one m internal dilution. Included intervals are based on a combined 5 per cent lead 
   and zinc grade.

Syncline targets

The conceptual syncline targets under the BHZ were tested with drill holes PVRD091, 094 and 118. PVRD091 intersected a thick sequence of amphibolite dike interpreted to be near the hinge of the anticline which possibly forms the folded sequence at the BHZ. The hole, therefore, did not intersect the target position it did however confirm the existence of an anticline. With a better understanding of the dip of the Bridge zone banded iron formation, drill hole PVRD118 targeted the down extent of the Bridge zone near the interpreted position of syncline target 1. PVRD118 intersected 9.9 m of host garnet sandstone and banded iron formation with visible lead and zinc sulphide mineralization, approximately 160 m down dip of PVRD117. Core logging of PVRD118 is continuing, and no assays are available at this time.

Drill hole PVRD094 was drilled to test the conceptual syncline target 2, however the hole dropped in dip more than planned and drilled the interpreted northwest limb of the anticline, intersecting a thick sequence of amphibolite dike. The syncline 2 remains a valid target, reinterpretation of the cross-section in light of the structural measurements collected from the drilling described here is required before further work on the syncline 2 occurs.

Pegmont exploration drilling

Further exploration holes are planned as part of the 2017 drilling program, including the copper target to the southwest of Pegmont, where previous Vendetta drilling intersected three m of 3.27 per cent copper and 0.57 gram per tonne gold co-incident with an 800 m long ground electromagnetic anomaly. This drilling is expected to continue in to November.

Update on Pegmont resource development drilling

To date, a total of 62 drill holes have been completed during the 2017 program, for a total of 14,000 m.

Including completed drill holes discussed in this release, the company has announced the results from 32 drill holes, see news releases dated July 25, 2017 (VTT2017 NR No. 7), and Aug. 24, 2017 (VTT2017 NR No. 9).

Processing, logging, sampling and assaying of the core not released to date are continuing. Results will be released as they become available. Priority will next be given to drill holes to be used in the zones 1, 2 and 3 metallurgical test work.

Drilling continues with one drill currently working in zone 2 and the second drill working on the Bridge zone.

Pegmont project tenement landholding increased

The company would like to advise that the landholding for the Pegmont project has been simplified and expanded.

The Pegmont project tenement package comprised two exploration permits: EPM 14491 and 15106, and three mining licences: ML 2620, 2620 and 2623. The two EPMs have been surrendered and in their place a single, larger exploration permit EPM 26210 has been granted, this occurred on Aug. 22, 2017, for a total area of 8,290 hectares. There is no change to status of the three mining licences.

Queensland exploration permits are granted for an initial five-year term and are subject to a relinquishment schedule, they can be renewed for a further five years.

Notes on Bridge zone drilling and assay quality assurance/quality control

The drilling at Bridge involved drilling RC precollars using a 5.75-inch diameter face sampling bit to depth prior to casing and continuing the hole in either NQ2 or HQ2 diamond core. Diamond core samples were taken on nominal one m lengths but varied to match geological contacts. Samples of the core are obtained using a diamond saw to half cut the core.

Field duplicate samples were taken and blanks and commercially prepared certified reference materials (standards) were added into the sample sequence for every hole submitted. These were analyzed by the company and no issues were noted with analytical accuracy or precision.

Samples used for the results described herein were prepared and analyzed at ALS Laboratory Group in Townsville, Queensland. Analysis was undertaken using a four-acid digest and ICP (ALS method: ME-ICP61 for seven elements) with over limit (over 10,000 parts per million lead and zinc and over 100 ppm silver) high-grade samples being read with an atomic absorption spectrometer (AAS) (ALS methods: Pb-OG62, Zn-OG62 and Ag-OG62).

Drill hole collars are located using hand-held GPS and the collars will be surveyed by a licensed surveyor prior to undertaking a mineral resource update. Down hole surveys were undertaken using a true north seeking gyroscope with stations nominally every six m.

All NQ2 and HQ2 diamond core is orientated using digital core orientation systems and these data are incorporated into the 3-D interpretations. Assay intervals shown in the attached tables are down hole intervals, and the true thicknesses noted are based on orientated core structural measurements and 3-D models.

About the Pegmont lead-zinc project

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 km 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.

In June, 2017, Vendetta updated the mineral resource estimate for Pegmont, for full details please see Vendetta's news release, VTT2017 -- NR No. 6, June 27, 2017.

About Vendetta Mining Corp.

Vendetta Mining is a Canadian junior exploration company engaged in acquiring, exploring and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced stage exploration projects in Australia, the first of which is the Pegmont lead-zinc project.

Qualified person

Peter Voulgaris, MAusIMM, MAIG, 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.

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