Vega Mining Completes Share Consolidation New Release

VEGA MINING INC.

Suite 250, 750 West Pender Street Vancouver, British Columbia V6C 2T7

VEGA MINING COMPLETES SHARE CONSOLIDATION

NEW RELEASE

VANCOUVER (British Columbia, Canada) – December 1, 2022 – Vega Mining Inc. (the “Company”) announces that it has consolidated its common share capital on the basis of one

(1) post-consolidation common share for every twenty (20) pre-consolidation common shares outstanding (the “Consolidation”). Prior to completion of the Consolidation there were 10,781,117 common shares outstanding and following completion of the Consolidation the Company has approximately 539,055 shares outstanding.

No fractional shares were issued in connection with the Consolidation. Shareholders who would otherwise have been entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares, and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the Company will receive a letter of transmittal with instructions on how to exchange existing share certificates for new postconsolidation share certificates.

For further information, contact Gordon Friesen at [email protected].

On behalf of the Board,

Vega Mining Inc.

Gordon Friesen, Chief Executive Officer