Mr. Michael Williams reports
VENDETTA COMMENCES FIELD PROGRAM AT THE PEGMONT LEAD-ZINC PROJECT AND PROVIDES CORPORATE UPDATE
Vendetta Mining Corp. has commenced the 2018 field program at the Pegmont lead-zinc project in Queensland, Australia.
The objectives of the 2018 drilling program are:To expand the high-grade lead-zinc mineralization at Bridge zone;Develop a mineral resource around the high-grade but isolated sulphide intersection in PVRD156 drilled late in the 2017 program (36.61 metres at 9.07 per cent Pb and 3.04 per cent Zn, see Vendetta news release Feb. 28, 2018), interpreted as a previously unidentified fold structure in zone 3;Undertake further metallurgical drilling and test work on transition mineralization;Exploration drilling on nearby lead-zinc targets.
AMC Consultants (Canada) has been retained to undertake the Pegmont mineral resource update, work is in progress and the company expects to be able to announce results around the end of May. AMC Consultants is the author of the two previous Pegmont mineral resource estimates.
The company is also pleased to announce 100-per-cent exercise of the 50 million common share purchase warrants, exercised at a price of 10 cents. Proceeds of the exercise of the warrants will be used to finance the 2018 exploration program and general working capital.
Michael Williams, Vendetta's president and chief executive officer, commented, "We appreciate the continued strong support of our shareholders, many of which exercised their warrants in advance, during 2017, which demonstrated their commitment to our company and enabled us to expand the 2017 drilling program which in part allowed us to undertake resource drilling in the Bridge zone discovery such that it will be included in the upcoming mineral resource update."
The company is also announcing the resignation of Douglas Ramshaw as a director. The company wishes to sincerely thank Mr. Ramshaw for his tremendous contribution to the company over the last four years; Mr. Ramshaw wishes to dedicate more time to his current executive role elsewhere. Mr. Ramshaw's oversight committee memberships will be taken up by the company's other independent directors: David Baker and Doug Flegg.
The company has granted 2.7 million performance share units (PSUs) to executives and consultants, which are subject to certain vesting provisions over a two-year period.
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 the advanced-stage Pegmont lead-zinc project in Queensland, Australia.
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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