Vangold Mining Acquires Surface Land & Receives Use of Land Permit FOR El Pinguico MINE Announces Private Placement Financing

VANGOLD MINING ACQUIRES SURFACE LAND & RECEIVES USE OF

LAND PERMIT FOR EL PINGUICO MINE

ANNOUNCES PRIVATE PLACEMENT FINANCING

VANCOUVER, BC, October 30, 2017

Vangold Mining Corp. (TSX-V: VAN) and its wholly subsidiary Obras Mineras El Pinguico SA

de CV (“Vangold”) executed the Surface Land Purchase Agreement for 302 hectares (Ha) with

two private landowners. The surface land includes Vangold’s El Pinguico property and provides

a significant land area for mining infrastructure, development and construction. Under the terms

of the Surface Land Purchase Agreement, Vangold is committed to pay two annual instalments

of the $4,500 CDN with a final payment of $65,000 CDN on the third anniversary.

Upon receiving the notarized Surface Land Purchase Agreement, Vangold submitted the Use of

Land application with the Minister of Mines in Guanajuato , on September 21, 2017. On October

20th, 2017 Vangold received the final approval from the Guanajuato municipality.

Cameron King, CEO states “Owning the surface land and receiving the Use of Land permit are

two major milestones for Vangold, allowing Vangold to continue with its production plans for the

over-ground (“ OG”) and under-ground (“ UG”) stockpiled material. I am very proud of the

Guanajuato team, for their achievements and keeping the project on schedule.”

The Use of Land permit provides Vangold all the rights and entitlement for initiating necessary

infrastructure work and prepare the OG stockpile for production. These activities include : road

construction; building structures; hauling; and waste dumping activities . Vangold’s immediate

plans are to:

 Upgrade the existing roads inside Vangold’s 302 Ha perimeter, to maximize productivity

and to ensure a future lower extraction cost;

 Excavate and haul the OG stockpile to a local mill, to generate early cashflow;

 Fulfill requirements of the Environmental Assessment (MIA), application submission by

December 2017;

 Construct the ordinance and explosives magazines;

 Fulfill requirements for obtaining Explosive permits when submitted to Guanajuato State

and Mexican Federal Mining authorities.

Financing

Keeping with Vangold's planned work programs and budget, a non-brokered private placement

financing of up to 22,5 00,000 Units consisting of one common share and one share purchase

warrant at a price of $0.0 7 per unit (the “Offering”). Each warrant will entitle the holder to

purchase one common share at $0.25 per share until the close of business on the day which is

48 months from the date of issue of the warrant.

Vangold i ntends to use the proceeds to fund additional assay programs on the OG and UG

stockpiles and infrastructure development on its Pinguico mine project, and for general working

capital covering operations in Guanajuato, Mexico and Vancouver, BC.

Closing of the proposed Offering is subject to a number of conditions, including receipt of all

necessary corporate and regulatory approvals, including approval from the TSX Venture

Exchange. Finders fees may be payable in connection with this private placement. All the

securities issuable will be subject to a four-month hold period from the date of closing.

Qualified Person

Mr. Dorado is a member of the Mining and Metallurgical Society of America and is a qualified

person as defined in National Instrument 43 -101, and has reviewed and approved the technical

contents of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

“Cameron S. King”

President, CEO and Director

For further information contact:

Vancouver Office:

T: 1-778-945-2940

E: [email protected]

Further information is available on Vangold's web site at: www.vangoldmining.com.

Cautionary Statement Regarding Forward Looking Information

This News Release may contain, in addition to historical information, forward -looking statements. These forward-looking statements

are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions ide ntifying

forward-looking statements. Investors should not rely on forward -looking statements because they are su bject to a variety of risks,

uncertainties and other factors that could cause actual results to differ materially from Vangold's expectations, and expressly does

not undertake any duty to update forward -looking statements. These factors include, but are no t limited to the following, limited

operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or

achievements of Vangold to be materially different from any future results, performance o r achievements expressed or implied by

such forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT

TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.