Step 1: Use the integrated rate equation for a first-order reaction.
For a first-order reaction,
\[
k=\frac{2.303}{t}\log\left(\frac{[A]_0}{[A]_t}\right)
\]
where
\[
[A]_0=\text{initial concentration}
\]
\[
[A]_t=\text{concentration after time }t
\]
Step 2: Substitute the given values.
Given,
\[
[A]_0=0.6\ \text{mol L}^{-1}
\]
\[
[A]_t=0.2\ \text{mol L}^{-1}
\]
\[
t=5\ \text{min}
\]
Therefore,
\[
k=\frac{2.303}{5}
\log\left(\frac{0.6}{0.2}\right)
\]
\[
k=\frac{2.303}{5}\log(3)
\]
Step 3: Use the given value of \(\log 3\).
Given,
\[
\log 3=0.4771
\]
Hence,
\[
k=\frac{2.303}{5}\times0.4771
\]
\[
k=0.4606\times0.4771
\]
\[
k=0.2197\ \text{min}^{-1}
\]
\[
k\approx0.219\ \text{min}^{-1}
\]
Step 4: Final conclusion.
Therefore, the rate constant of the reaction is
\[
\boxed{0.219\ \text{min}^{-1}}
\]
Hence, the correct option is
\[
\boxed{(1)}
\]