Vendetta Announces Non-Brokered Private Placement
FOR IMMEDIATE RELEASE February 11, 2020
(VTT2020 – NR #03)
Vendetta Announces Non-Brokered Private Placement
Vancouver, BC – February 11, 2020 − Vendetta Mining Corp. (VTT-TSX:V) (“Vendetta” or the
“Company”) is pleased to announce a non-brokered private placement of up to 11,000,000 units (the
“Units”) at a price of $0. 05 per Unit for gross proceeds of $550,000. Each Unit will be comprised of
one common share and one common share purchase warrant exercisable for three years at a price of
$0.075 per share.
The private placement is subject to the approval of the TSXV and the securities will be subject to a four-
month hold period under securities l aws. Net proceeds from the financing will be used to advance the
development of the Pegmont Lead-Zinc project and for general working capital.
Finder’s fees of up to 7% cash or 7% shares may be payable in this private placement.
About the Pegmont Lead Zinc Project
Vendetta’s 100% owned Pegmont Lead Zinc Project is situated in the Mount Isa – McArthur Mineral
Province, Australia which hosts one of the world’s richest endowments of lead -zinc-silver
mineralization, including several significant lead-zinc-silver mines.
The current Mineral Resource Estimate at the Project:
Indicated 5,758 Kt @ 6.5% Pb, 2.6% Zn, 11 g/t Ag
Inferred 8,277 Kt @ 5.1% Pb, 2.8% Zn, 8 g/t Ag
The results of a Preliminary Economic Assessment (“PEA”) on Pegmont were released by the Company
by news release dated January 28, 2019. The PEA outlined a 10 -year mine plan that generates a strong
economic return with a (base case) pre-tax IRR of 32% (after tax 24%) and NPV8% of $201M ($128M
after tax) using long term consensus metal prices of $0.91/lb lead, $1.09/lb zinc and $16.50/oz silve r
and a US$:A$ exchange rate of $0.75.
The PEA indicated a strong sensitivity to metal prices and US$:A$ exchange rate with a pre-tax IRR of
37% (after tax 27%) and NPV8% of $249M ($158M after tax), using metal prices as of January 22, 2019
of $0.91/lb lead, $1.18/lb zinc and $15.30/oz silver and a US$:A$ exchange rate of $0.71.
The PEA identified further project enhance ments and Vendetta has identified several high priority
exploration targets.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and
developing mineral properties with an emphasis on l ead and zinc. It is currently focused on advanc ing
the Pegmont Lead Zinc project in Australia. Additional information on the Company can be found at
www.vendettaminingcorp.com.
Technical Disclosure
Peter Voulgaris, MAIG, MAusIMM, a Director of Vendetta, a "qualified person" as defined by NI 43 -
101 – Standards of Disclosure for Mineral Projects. Mr Voulgaris has reviewed and approved the
technical content of this press release, and consents to the information provided in the form and context
in which it appears.
For details of the Pegmont Project including the effective date of the resource estimate, quality control
measures applied, key assumptions, parameters and methods used to estimate t he mineral resources set
forth herein and any known legal, political, environmental or other risks that could materially affect the
potential development of the mineral resource estimate, please refer to the technical report entitled
“Technical Report – Pegmont Mineral Resource Update and PEA” dated effective January 21, 2019 and
available under the Company’s profile at www.sedar.com.
The Preliminary Economic Assessment (PEA) referred to herein, is preliminary in nature and includes
inferred mineral resourc es that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as mineral reserves, and there
is no certainty that the preliminary economic assessment will be realized.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michael Williams”
Michael Williams
President & CEO
604-484-7855
Forward Looking Information
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may be deemed to be “forward‐looking statements”
or “forward looking information” within the meaning of the applicable Canadian Securities laws. All statements
in this release, other than statements of historical facts are forward looking statements or information, including
without limitation, statements or information regarding the use of proceeds of the Private Placement, and other
future events or developments. Forward-looking statements include statements that are predictive in nature, are
reliant on future events or conditions, Forward‐looking statements are often, but not always, identified by the use
of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect”, “may", "will", "project",
"predict", "potential", "targeting”, “intend", "could", "might", "should", "believe” and similar expressions.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results
or events to differ materially from those anticipated. Although the Company believes the expectations expressed
in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in the forward‐looki ng
statements.
Factors that could cause actual results to differ materially from those in forward‐looking statements include, but
are not limited to, changes in commodities prices; changes in expected mineral production performance;
unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and
financing; differing results and recommendations in the preliminary economic assessment; and general economic,
market or business conditions.
In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk;
political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate; the limitations and
assumptions within drilling, engineering a nd socio‐economic studies relied upon in preparing the PEA; and
receipt of regulatory and other approvals and/or consents in respect of the Offering in particular. There can be
no assurance that the Offering will be completed on their terms or at all.
The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding
these and other risk factors, accessible under the Company's profile at www.sedar.com
There is no certainty that any forward‐looking statement will prove to be accurate and investors should not place
undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of
the forward‐looking statements in this release, except as required by law.