Veta Resources Inc. Closes Second Tranche of Private Placement of Common Shares

Toronto, Ontario--(Newsfile Corp. - August 23, 2018) - Veta Resources Inc. (the "Company" or "Veta") is pleased to announce that it has closed the second tranche of its non-brokered private placement through the issuance of 1,000,000 common shares ("Common Shares") at a price of $0.15 per Common Share for gross proceeds of $150,000 (the "Offering").

The proceeds of the Offering will be used for general working capital purposes. The Common Shares issued pursuant to the Offering are subject to a hold period expiring on December 24, 2018.

An eligible person (the "Finder") was issued 80,000 Common Shares equal to 8% of the proceeds raised from subscribers introduced to the Company by the Finder.

Veta is also pleased to announce that Marco Guidi has been appointed as Chief Financial Officer of the Company. Mr. Guidi is a Certified Public Accountant and holds an Honours Bachelor degree in Business Administration from Wilfrid Laurier University. Mr. Guidi has several years of experience working as a Chief Financial Officer with publicly listed junior mining companies. Mr. Guidi replaces Brian Jennings who resigned as the Chief Financial Officer. Mr. Jennings will retain his position and President and Chief Executive Officer of the Company.

About Veta Resources Inc.

Veta Resources Inc. has optioned two exploration properties located in southern Chile. The projects are referred to as the JOY West and JOY East properties and together represent a land package of approximately 3,450 hectares, or approximately 34.5 km². Veta also has 100% ownership in three exploration properties which are also located in Southern Chile which represent a land package of approximately 73km². The Company has 17,186,320 shares outstanding, is a reporting issuer under certain provincial security commissions and is not currently traded on an exchange.

For more information, please contact:

Brian Jennings President, CEO and CFO Tel: (416) 616-4230 Email: bjennings@rogers.com

Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's disclosure filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.