VanGold Increases Placement to $14,550,000 ~ Funds to be Used to Purchase and Develop El Cubo ~


January 25, 2020 – Vancouver, British Columbia –VanGold Mining Corp (the “Company” or “VanGold”) (TSXV:VGLD) announces that due to increased demand and to allow for participation from existing security holders who may not otherwise qualify as accredited investors, the Company has expanded the size of its nonbrokered private placement financing announced December 23, 2020 (the “Private Placement”) and expanded on January 19, 2021. The Private Placement will now consist of a total of 48,500,000 units (“Units”) at a price of $0.30 per Unit for gross proceeds of $14,550,000. Each Unit will consist of one common share of the Company
and one half (1/2) of a common share purchase warrant (each whole warrant a “Warrant”); with each Warrant entitling the holder to purchase an additional common share of the Company at a price of $0.45 within three years of closing, subject to acceleration in certain events. All other terms of the Private Placement as announced on December 23, 2020 remain the same.

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