VanGold Mining Closes $3,690,520 First Tranche of Private Placement
TSX-V: VGLD OTC: VGLDF
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VanGold Mining Closes $3,690,520 First Tranche of Private Placement
August 6, 2020 – Vancouver, British Columbia – VanGold Mining Corp (the “Company” or “VanGold”)
(TSXV:VGLD) is pleased to announce it has closed the first tranche of its non-brokered private placement of up
to 24,500,000 units (“Units”) at a price of $0.155 per Unit for gross proceeds of $3,797,500 announced on July 21
and 22, 2020. (the “Financing”). The Company has issued a total 23,809,807 Units for gross proceeds of
$3,690,520, with each Unit consisting of one common share of the Company and one half (1/2) of a common
share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder to purchase an
additional share at a price of $0.25 for a period of two years, subject to acceleration in certain events.
The Company anticipates closing a second and final tranche of the Financing on or about August 11, 2020, which
may include an increase in the overall Financing to 25,645,000 Units for gross proceeds of up to $3,975,000 based
on demand.
All securities issued in connection with the first tranche of the Financing are subject to a four month hold period
expiring December 6, 2020 and the Company has paid certain finder’s fees in cash, shares and/or warrants in
accordance with the policies of the TSX Venture Exchange.
Work to clear the El Pinguico shaft and enter into and explore the underground workings of the mine as disclosed
in the Company’s news release of July 21, 2020 has begun and further details on the progress of this work will be
forthcoming in future news releases.
The El Pinguico Project:
El Pinguico is a high-grade gold and silver deposit that was mined from the early 1890s until 1913. Toward the
end of that period it was mined exclusively by The Pinguico Mines Company of New York City, whose shares
traded on the Boston and New York Stock Exchanges. The mining was done principally from the El Pinguico and
El Carmen veins, which are thought to be splays off the Mother Vein, or ‘Veta Madre’.
The Veta Madre is associated with a mega fault that outcrops for 25 kilometres and is the most important source
of precious metal mineralization in the region. The Veta Madre may cross VanGold’s property at depth,
underneath the high grade El Pinguico and El Carmen veins. Very limited drilling has been done on the property
and no drilling has attempted to encounter the Veta Madre at depth.
Hernan Dorado Smith, a director of VanGold and a qualified person as defined by National Instrument 43-101,
Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in
this news release.
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About VanGold Mining Corp.
VanGold Mining is an exploration and development company engaged in reactivating high-grade past producing
silver and gold mines near the city of Guanajuato, Mexico. The Company’s El Pinguico project is a significant
past producer of both silver and gold located just 7km south of the city. The Company remains focused on the
near-term potential for development and monetization of its surface and underground stockpiles of mineralized
material at El Pinguico, and in delineating silver and gold resources through underground and surface drilling on
projects located in this historic mining camp.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding VanGold Mining Corp, please contact:
James Anderson, Director, +1 (778) 989-5346
Email: [email protected]
Continue to watch our progress at: www.vangoldmining.com
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the secur ities in the
United States. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within
the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S.
Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
Neither the 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.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future
performance (including, but not limited to, the actual size, timing and use of proceeds of the Financing, the
proposed work program at the Company’s El Pinquico project in Mexico, and the potential for near term
monetization of existing stockpiles of mineralized material at El Pinguico) and reflect management’s current
expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are
based on assumptions made by and information currently available to the Company. Readers are cautioned that
these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those expected including, but not limited to, market
conditions, availability of financing, currency rate fluctuations, actual results of exploration and development
activities, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor
issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining
industry. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the
Company’s operations, supply chains, ability to access El Pinguico or procure equipment, contractors and other
personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in
this news release are qualified by these cautionary statements and those in our continuous disclosure filings
available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and
the Company does not assume any obligation to update or revise them to reflect new events or circumstances save
as required by law.
VANGOLD MINING CORP.
PH: +1(778) 989-5346 E: [email protected] W: vangoldmining.com
CA: Suite 2820 - 200 Granville Street, Vancouver B.C. V6C 1S4
MX: Carr, Guanajuato – Silao km 5.5 Colonia Marfil Guanajuato, Mexico Office No.2 CP 36250