Vancouver, British Columbia--(Newsfile Corp. - August 24, 2017) - Vendetta Mining Corp. (TSXV: VTT) (the "Company") is pleased to announce further drill results from the 2017 program at the Pegmont Lead-Zinc Project in Queensland, Australia.

This initial part of the program has been executed in Zone 3 and is now being extended to Zone 2. The goal is to expand and upgrade the Mineral Resource near the base of the open pit shell used to constrain the June 2017 Mineral Resource and to locate additional mineralization within the pit shell (see news release, VTT2017-NR #6) but outside of the resource estimation search parameters.

Zones 2 Highlights:

PVRD067:                            8.4 metres of 11.30% Pb+Zn (8.05% Pb, 3.24% Zn);

PVRD074:                            6.2 metres of 14.64% Pb+Zn (11.43% Pb, 3.21% Zn); and

PVRD079:                            9.1 metres of 11.06% Pb+Zn (7.45% Pb, 3.61% Zn)

Zones 3 Highlights:

PVRD069:                            6.2 metres of 9.72% Pb+Zn (6.44 Pb, 3.29% Zn);and

PVRD072:                            4.6 metres of 11.32% Pb+Zn (8.20% Pb, 3.12% Zn);

A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table 1 and the location of the holes is shown on the map in Figure 1.

Michael Williams, Vendetta's President and CEO commented "These results coupled with the previously announced Zone 3 assays give us reason to be encouraged by the consistently higher grades being intersected in the current program. We will continue to focus on the areas within the pit the shell that have the greatest potential to increase both tonnes and grade while also targeting potential expansion of the resource in areas that may later fall inside an optimized pit shell. We are continuing to develop the underground target in Zone 5 and are commencing testing conceptual exploration targets near the Burke Hinge Zone."

Zones 2 and 3 Results

Zone 2 is a flat to moderately dipping area, located between 50 and 100 m from surface, with a strike length of 2 km. Holes PVRD067 and 068 are drilled from that same pad, the high grade intersection in PVRD069 is located in a flat dipping portion of Zone 2. Hole PVRD068 was drilled to test a modelled low grade zone in Zone 2 immediately prior to the "Z" fold, and confirmed the zone is a site of structural attenuation (stretching and thinning) separating the high grade open folds in Zone 2 and the "Z" fold.

PVRD073, 074, 079 and 075 are drilled from one pad into Zone 2. Hole 073 was drilled into the attenuated fold limb at the base of Zone 1, while the high grade intersections in holes PVRD074, 079 and 075 are located in a moderately dipping open fold structure to the north-east of the "Z' fold. PVRD074 will be used for metallurgical test work.

Zone 3 is located about 50 to 100 m below Zone 2, it is flat to moderately dipping, separated from Zone 2 by a drag fold called the "Z fold". It has a modelled strike of 1.2 km.

Holes PVRD069, 071 and 072 are drilled from the same pad, the high grade intersections in the moderately dipping Zone 3 are spaced about 20 m apart and are in the same structural position as the previously reported high grade intersections in holes PVRD065, 066 and 063 (see VTT NR #5), located 40-50 m to the NE. Hole PVRD077 was probing the down dip extent of the high grade structure intersected in aforementioned holes, it intersected the host lithology but lacked mineralization.

Table 1. Summary of Open Pit Target Zone 2 and 3 Drill Assay Results.

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

#Drill intersections are summarized using a combined 1% lead and zinc grade with maximum 1 m internal dilution.

Ongoing Drilling

To date the a total of 52 drill holes have been completed for a total of 13,322 m in Zones 1, 2, 3 and 5.

Processing, logging and sampling of the core not discussed in this release is ongoing. The Company will release results as they become available.

Drilling continues with two drills, one drill is working in Zone 1 and the other has commenced the exploration program testing conceptual targets near the Burke Hinge Zone.