VEGA MINING ANNOUNCES SHARE CONSOLIDATION

April 17, 2024 – Vancouver, British Columbia – Vega Mining Inc. (the “Company”) announces that the previously announced consolidation of the Company’s outstanding common shares on the basis of two (2) pre-consolidation shares for one (1) post-consolidation share (the “Consolidation”) has become effective on April 16, 2024 (the “Effective Date”). 

As a result of the Consolidation, the number of issued and outstanding common shares of the Company has been reduced from 45,039,055 to approximately 22,519,528, subject to adjustment for rounding (the “Post-Consolidation Shares”). No fractional shares will be issued in connection with the Consolidation. If a holder of Shares would otherwise be entitled to a fractional share, any fractional Post-Consolidation Share that is less than ½ of a share shall be cancelled and any fractional Post-Consolidation Share that is at least ½ of a share shall be rounded up to one whole share. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of Post-Consolidation Shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.

The new CUSIP number for the Company’s Post-Consolidation Shares is 922509302 and the new ISIN is CA9225093025. 

Registered shareholders of record as of the Effective Date will receive a letter of transmittal from Odyssey Trust Company, the transfer agent for the Company, describing the process by which shareholders may obtain new share certificates or Direct Registration System (DRS) advices representing their Post-Consolidation Shares. Until surrendered, each share certificate representing pre-consolidation shares will represent the number of whole Post-Consolidation Shares to which the holder is entitled as a result of the Consolidation. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will also be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

ON BEHALF OF THE BOARD

Vega Mining Inc.

Alicia Krywaniuk, Director 

For further information, please contact: Alicia Krywaniuk, akrywaniuk@fiorecorporation.com

This news release may contain certain “Forward-Looking Statements” within the meaning of applicable securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the intended use of proceeds from the Offering and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.