March 20, 2020 – Vancouver, British Columbia – Vangold Mining Corp. (the “Company” or “Vangold”) (TSXV:VAN) announces a new trading symbol (VGLD), the Company’s COVID-19 response, completion of debt settlement, and a new website.
New Trading Symbol: VGLD
Effective at the opening of the market on Monday, March 24, 2020, the Company’s trading symbol on the TSX Venture Exchange will change from “VAN” to “VGLD”. Vangold’s board of directors has determined that in the interests of continuity and consistency (the Company’s shares trade Over the Counter in the United States under the symbol VGLDF) this change will help to enhance interest and liquidity in the Company’s shares. There will be no change to the Company’s name or CUSIP number, and there will be no alteration in the num- ber of shares outstanding.
During these extraordinary times of the COVID-19 viral contagion, Vangold would like to thank its sharehold- ers and contractors, in Canada and in Mexico, for their patience and support. We are encouraging staff and con- tractors to work from home, where possible, to practice correct social distancing and are using this time to fo- cus on initiatives that can be achieved from our desks and computers.
Shares for Debt:
Vangold has completed its shares for debt transaction announced on November 20, 2019. The Company has issued an aggregate of 403,640 common shares at a deemed price of $0.05 per share in settlement of outstand- ing indebtedness totalling $20,182, which shares are subject to a four month hold period expiring July 19, 2020. The Company chose to settle this indebtedness for shares in order to preserve cash for current opera- tions. Included in the settlement was the issuance of 200,000 shares to extinguish $10,000.00 of indebtedness to Blueberry Capital Corp. (“Blueberry”), a company controlled by Vangold’s CEO, James Anderson. The Company relied upon exemptions from the requirement to obtain a formal valuation and minority shareholder approval for the Blueberry settlement under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions on the basis that the fair market value of Blueberry’s settlement was less than 25% of the Company’s market capitalization.
The Company has taken this opportunity to construct a new website which conveys important facts about the Company and its Mexican projects in a straightforward manner. We invite our shareholders and interested par- ties to view it at www.vangoldmining.com
The El Pinguico Project:
El Pinguico is a high-grade gold and silver deposit that was mined from the early 1880s until 1913. The mining was done exclusively 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, but very limited drilling has been done on the property and no drilling has attempted to encounter the Veta Madre at depth.
Historic stockpiles of mineralized material exist on surface and underground at El Pinguico which may poten- tially provide feed to one of several operational mills in the Guanajuato area.
Hernan Dorado, a director of Vangold and a qualified person as defined by National Instrument 43-101, Stan- dards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
About Vangold Mining Corp.
Vangold Mining is an exploration company engaged in the exploration of mineral projects in the Guanajuato region of central Mexico. The Company’s flagship El Pinguico project is a significant past producer of high- grade gold and silver and is located just 7km south of the city of Guanajuato, Mexico. The Company remains focused on the near-term potential for development and monetization of both its surface and underground stockpiles of mineralized material from El Pinguico.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and CEO
For further information regarding Vangold Mining Corp, please contact:
James Anderson, Director, +1 (778) 989-5346
Continue to Follow, Like and Watch our progress: Web: www.vangoldmining.com
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.
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the potential for near term development and monetization of existing stockpiles of mineralized material at the Company’s El Pinguico project in Mexico) and reflect management’s current expecta- tions and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on as- sumptions 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 govern- mental or regulatory approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company`s operations, global supply chains 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 applicable law.
VANGOLD MINING CORP.
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