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 post-

consolidation share certificates.

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

On behalf of the Board,

Vega Mining Inc.

Gordon Friesen, Chief Executive Officer