VIKING MINES LIMITED — Capital/Financing Update 2020

Jan 13, 2020

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14 January 2020

TUMENTU PROGRAM – COMMENCEMENT OF DRILLING

Further to the ASX announcement on 25 September 2019, Viking Mines Limited (ASX: VKA) ( Viking or the Company ) advises that the planned drilling program in Ghana at the Tumentu Project has now commenced, as weather conditions in the region have improved.

Thirty-five (35) Air core (AC) holes have been planned for the first pass drilling. The bulk of the planned holes are to test the Au-In-soil anomalies as well as the strike extension of the Salman Shear within the Tumentu property.

Geodrill who are the Company’s drilling contractors are using a KL 300-1 drill rig and are drilling the AC holes at Tumentu on a 12-hour single shift. (Figure 1)

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Figure 1: Geodrill’s rig KL 300-1 drilling on TUMAC002 at the mid-northern end of Tumentu.

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Viking Mines Limited (ASX:VKA) ACN 126 200 280 Level 5, 126 Phillip Street Sydney NSW 2000 Ph: 02 8072 1400

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Figure 2: Map showing prepared collars on soil Anomaly/Salman Shear Targets

As the drilling program progresses, the Company will continue to update the market on the progress.

For further information, please contact:

Dean Jagger Company Secretary 02 8072 1447

Authorised for release by the Board of the Company

Viking Mines Limited (ASX:VKA) ACN 126 200 280 Level 5, 126 Phillip Street Sydney NSW 2000 Ph: 02 8072 1400