Vega Mining Inc. (Vega) (TSX VENTURE:VMI) announces that it has arranged a
non-brokered private placement of up to 3,500,000 units for total proceeds of up
to $245,000; subject to the approval of the TSX Venture Exchange. Up to
3,500,000 units will be issued as flow-through units at a price of $0.07 per
unit consisting of one common share and one half of one whole warrant. Each
whole warrant will entitle the holder to purchase one additional common share of
the Company at a price of $0.12 per share for eighteen (18) months from the date
of closing. The proceeds of the private placement will be used for exploration
activities on its graphite properties. Finder's fees, as allowed pursuant to the
policies of the TSX Venture Exchange, may be payable in connection with the
offering.


Vega Mining Inc. Inc. (TSX VENTURE:VMI) is a Canadian junior exploration company
focused on discovering gold and graphite deposits in politically safe
jurisdictions. 


On behalf of the board of VEGA MINING INC.

Archie Boyce, President

"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."


Cautionary note:

This report contains forward looking statements. Resource estimates, unless
specifically noted, are considered speculative. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. The
production rate and mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations will be
economically viable. By their nature, forward looking statements involve risk
and uncertainties because they relate to events and depend on factors that will
or may occur in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing, currency exchange
rates, and, but not limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically prohibits
the use of certain terms, such as "reserves" unless such figures are based upon
actual production or formation tests and can be shown to be economically and
legally producible.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Vega Mining Inc.
Archie Boyce
President
(604) 683 5445
(604) 687 9631 (FAX)
info@vegamininginc.com
www.vegamininginc.com