Mr. James Anderson reports

VANGOLD TO PROCESS 1000 TONNE BULK SAMPLE AT EL PINGUICO SILVER AND GOLD PROJECT

Vangold Mining Corp. plans to conduct a 1,000-tonne bulk sample from its El Pinguico silver and gold project, located seven kilometres south of the city of Guanajuato, Mexico.

1,000-tonne bulk sample

Vangold has entered into an agreement with Endeavour Silver Corp. to process 1,000 tonnes of mineralized material from the company's El Pinguico silver and gold project.

By conducting this large test, the company will gain valuable metallurgical and precious metal recovery information pertaining to the mineralized material on the El Pinguico property. As well, the company will gather critical economic data regarding the potential for direct shipping of this material from El Pinguico to one of several operating mills in the Guanajuato area.

This bulk sample will be sent to Endeavour's Bolanitos mill, located to the north of Guanajuato and approximately 28 kilometres from El Pinguico. Endeavour and Vangold plan to conduct this test at the start of Bolanitos's commercial operations, and after the lifting of Mexico's national stay-at-home order relating to the COVID-19 pandemic.

Chief executive officer James Anderson stated: "We would like to thank everyone at Endeavour Silver Corp. for working with us to conduct this bulk sample. In the future we look forward to co-operating with them on other initiatives in the Guanajuato area."

Processing procedure

Vangold will perform a flotation metallurgical test where the final product will be a concentrate that will show metallurgical recoveries, as well as give the company accurate costs associated with the processing of this material. The company has engaged with local contractors in Guanajuato to haul approximately 70 15-tonne truckloads of this material to Bolanitos. All of the material for this test will be taken from the company's surface stockpile which was left in place when mining ceased at El Pinguico in 1913. This stockpile contains an exploration target of 175,000 to 185,000 tonnes grading 1.25 to 1.35 grams per tonne gold equivalent. These figures are conceptual in nature. The potential quantity and grade of the surface stockpile are conceptual in nature and derived from a 2012 study by the then owner of El Pinguico calculating the volume of the stockpile as 92,849.5 cubic metres, with a surface of 15,769.40 square metres, and 10 holes dug into the stockpile by Vangold in 2017 with a backhoe at different locations and depths (top and bottom). Vangold's backhoe samples confirmed there was no movement of economic values from surface to bottom of the stockpile due to weathering and rains, with the average sample results as displayed in the table.

                 Au ppm   Ag ppm   AuEq ppm

Top samples      0.6218    80.59      1.783
Bottom samples   0.4378     61.1      1.318

There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the stockpile being delineated as a mineral resource.

Mining engineer and Vangold director Hernan Dorado Smith said: "It has been 107 years since the El Pinguico mine closed. It is heartening for our stakeholders to know that gold and silver may once again be produced from mineralized material from this property."

The El Pinguico project

El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913. The mining was done exclusively from the El Pinguico and El Carmen veins, which are thought to be splays off the Mother vein, or Veta Madre.

The Veta Madre is associated with a megafault that outcrops for 25 kilometres and is the most important source of precious metal mineralization in the region. The Veta Madre may cross Vangold's property at depth, underneath the high-grade El Pinguico and El Carmen veins. Very limited drilling has been done on the property and no drilling has attempted to encounter the Veta Madre at depth.

Historic stockpiles of mineralized material exist on surface and underground at El Pinguico which may potentially provide feed to one of several operational mills in the Guanajuato area.

Hernan Dorado Smith, a director of Vangold and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

About Vangold Mining Corp.

Vangold Mining is an exploration company engaged in the exploration of mineral projects in the Guanajuato region of central Mexico. The company's flagship El Pinguico project is a significant past producer of high-grade gold and silver and is located just seven kilometres south of the city of Guanajuato, Mexico. The company remains focused on the near-term potential for development and monetization of both its surface and underground stockpiles of mineralized material from El Pinguico.

We seek Safe Harbor.