Mr. James Anderson reports

VANGOLD COUNTRY MANAGER APPOINTED PRESIDENT OF ENGINEERING ASSOCIATION

Vangold Mining Corp. country manager Gerardo Dorado Cantu has been appointed president of the Guanajuato chapter of the College of Mining Engineers; Vangold has also hired Gabriela Ponce as project geologist.

Vangold country manager recognized by CIMMGM

Vangold Mining would like to acknowledge and congratulate Mr. Dorado Cantu for having been appointed president of the Guanajuato chapter of the College of Mining Engineers, Metallurgists and Geologists of Mexico (El Colegio de Ingenieros de Minas, Metalurgistas y Geologos de Mexico AC), or CIMMGM. The association is over 70 years old with over 100 active members.

Mr. Dorado Cantu is a mining engineer with over 40 years experience working on numerous projects throughout Mexico. He, along with his son, Vangold director Hernan Dorado Smith -- who is also a mining engineer -- originally vended the El Pinguico project to Vangold. Mr. Dorado Cantu's hard work, persistence and dedication are responsible in large measure for Vangold's recent ability to advance the El Pinguico project as swiftly as the company has.

Said chairman and chief executive officer James Anderson: "We are very pleased and proud that Gerardo has been recognized by his engineering peers in this way. Gerardo organizes many philanthropic and volunteer activities in the area, including and especially his work with the University of Guanajuato mining department alumni. This new position with the Guanajuato chapter of CIMMGM is in keeping with his desire to give something back to the local mining community."

Vangold hires project geologist

The company is pleased to report that it has hired Ms. Ponce as project geologist for the El Pinguico project. After graduating from the University of Guanajuato in 2007, Ms. Ponce immediately established a career working in the Guanajuato area, by being employed underground at Endeavour Silver Corp.'s El Cubo mine complex, located just five kilometres from El Pinguico, from 2009 until 2019.

Ms. Ponce worked both within El Cubo's underground mine exploration and exploitation departments, often managing a team of up to 20 employees. Within the exploration department her duties routinely consisted of supervising all aspects of underground drilling including targeting and positioning of drill rigs, supervising the cutting and logging of core samples and identifying alteration, rock types, mineralogy and geotechnical features. Her tasks also included QA/QC (quality assurance/quality control), mapping and sampling supervision, creating and reviewing cross sections and computer modelling.

Said Mr. Dorado Cantu, "Gabriela's skill set and experience, in a mine located just five km from El Pinguico, is a custom fit for Vangold as we prepare to embark on El Pinguico's maiden underground drilling campaign."

Stock options

Vangold also announces that its board of directors has approved the issuance of 2,225,000 stock options, which form part of a total remuneration package for directors, officers, advisers, consultants and employees of the company and is in accordance with the company's stock option plan. The options, which shall be vested over a one-year period, are exercisable up to three years from the issuing date and have a strike price of 30 cents.

The El Pinguico project

El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913. Toward the end of that period it was mined exclusively by the Pinguico Mines Company of New York, shares of which traded on the Boston and New York stock exchanges. The mining was done principally 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. Current geologic interpretation, based on regional mapping and projections from the Veta Madre developed at adjacent historic mine operations, suggest that the Veta Madre vein system 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 yet attempted to encounter the Veta Madre at depth. The intersections of these major vein structures are excellent exploration targets and may result in zones of significant size and grades.

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 verified the data and approved the scientific and technical information contained in this news release.

About Vangold Mining Corp.

Vangold Mining is an exploration and development company engaged in reactivating high-grade past producing silver and gold mines near the city of Guanajuato, Mexico. The company's El Pinguico project is a significant past producer of both silver and gold located just seven kilometres south of the city. The company remains focused on the near-term potential for development and monetization of its surface and underground stockpiles of mineralized material at El Pinguico, and in delineating silver and gold resources through underground and surface drilling on projects located in this historic mining camp.

We seek Safe Harbor.