Vango Mining Limited: Response to ZAG Opinion on WA Court Decision
Sydney, Australia - Vango Mining Ltd. (ASX:VAN) refers to the announcement made on 4 January 2022 by Zuleika Gold Limited (ASX:ZAG) titled "Correction to VAN announcement re WA Supreme Court Action".Vango stands by its market announcement of 17 December 2021 reproduced below:
"WA Court's Decision on Billabong Gold Matter Received
Vango Mining Ltd. (ASX:VAN) ("Vango" or "Company") wishes to advise the market of what is, for Vango, a very pleasing outcome from the proceedings brought before His Honour Justice Martin by Superior Gold (through its subsidiary, Billabong Gold Pty Ltd) in the Supreme Court of Western Australia.
On 14 December 2021 Justice Martin handed down his decision which provided for Billabong Gold to be offered, in essence, the Binding Term Sheet that had previously been offered to Billabong Gold by the Company. This result means that, in effect, Billabong Gold has spent the last 2 years of time and money pursuing what had already been offered to them.
All other claims made by Billabong Gold were unsuccessful, including its claim to an agreement which would have enabled them to obtain forty percent of Vango's tenements.
His Honour also noted Zuleika Gold's claims against Vango and, having noted his comments, Vango looks forward to meeting Zuleika in court as soon as possible in 2022.
The above result allows Vango to confidently move on with business."
The Company's shareholders should consider the context of Justice Martin's FULL JUDGEMENT, which can be read at:
https://ecourts.justice.wa.gov.au/eCourtsPortal/
under citation "BILLABONG GOLD PTY LTD -v- Vango Mining Ltd. [No 2] [2021] WASC 459".
About Vango Mining Limited:
Vango Mining Ltd. (ASX:VAN) is a minerals exploration mining company with ambitions of becoming a high-grade WA gold miner by developing the 100% owned Marymia Gold Project (Marymia) in the mid-west region of Western Australia. The Project comprises 45 granted mining leases over 300km. It has an established high-grade resource of 1Moz @ 3g/t Au, underpinned by the Trident Deposit, whose resource is 410koz @ 8g/t Au, with immediate extensions open at depth/along strike.
The Marymia Project has the potential to become one of Australia's largest high-grade producers. The Greenstone Belt in the Marymia region includes six major gold corridors, which remain largely un-tested beyond 100m depth - supported with an extensive drilling and geophysical database. Previous mining between 1992-2001, produced 580,000 ounces of gold almost entirely from open-pits.
Vango is focused on growing its high-grade gold resource to support a proposed stand-alone gold mining and production operation at Marymia. The Project is located along strike, immediately to the north of Superior Gold's (CVE:SGI) Plutonic Gold Mine which has produced more than 5.5Moz of gold
Source: Vango Mining Ltd.
Contact:
Bruce McInnes Executive Chairman Vango Mining Ltd. E: info@vangomining.com T: +61 418 183 466 W: www.vangomining.com Media and Investor Inquiries James Moses Mandate Corporate E: james@mandatecorporate.com.au T: +61 420 991 574
