Vela Minerals Announces Management Changes

VELA MINERALS LTD.

Suite 2200, 885 West Georgia Street

Vancouver, British Columbia

V6C 3E8

NEWS RELEASE

VELA MINERALS ANNOUNCES MANAGEMENT CHANGES

February 26, 2018 – Vancouver, British Columbia – Vela Minerals Ltd. (the “Company”) is

pleased to announce that the board of directors has appointed Richard Grayston as Chief

Executive Officer and Corporate Secretary, and Mark Ferguson as Chief Financial Officer.

The board has also appointed Richard Ko as a director of the Company effective immediately.

Mr. Ko replaces Charles Chebry who has resigned from the Company to pursue other ventures.

The Company thanks Mr. Chebry for his service to the Company over the years.

For further information, contact Richard Grayston at [email protected].

On behalf of the Board,

Vela Minerals Ltd.

Richard Grayston, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.