Colombia Update

London, January 23, 2024. Orosur Mining Inc. ("Orosur" or the "Company") (TSX-V: OMI) (AIM: OMI) the minerals developer and explorer with operations in Colombia, Argentina, Nigeria and Brazil, is pleased to announce an update on the Company's Anzá Project ("Project") in Colombia.

The Project is the subject of an Exploration Agreement with Venture Option ("Exploration Agreement") dated September 7, 2018, with Colombian company Minera Monte Águila S.A.S. ("MMA"), pursuant to which MMA has earned a 51% interest in the Project. MMA is itself a 50/50 joint venture between Newmont Corporation ("Newmont") and Agnico Eagle Mines Limited ("Agnico"). MMA is the current operator of the Project.

As previously announced, MMA advised the Company that it would be undertaking a review of its continued involvement in the Project. Subsequently, the parties commenced discussions regarding the future of the Project, which are currently focussed on exploring options whereby Orosur would acquire MMA's interest in the Project. Such an outcome, if achieved, would see the Company returning to having a direct or indirect interest of 100% in the Project.

Negotiations are progressing toward this objective; however, these are not final and as such there is no certainty that such a transaction will be agreed, and if so, on what terms. The parties are examining a range of commercial and structuring options, as well as undertaking prudent due diligence, and as such, finalisation of any agreement may take some time.

Further announcements will be made in due course as the process continues.

Orosur CEO Brad George commented:

"We have stated publicly on several occasions that our desired outcome is to retake control of Anzá, and if possible, to also resume 100% ownership of the Project. We have been working towards this objective for some months, but we are also focussed on the legal complexities of any such transaction, ensuring that any commercial terms do not negatively impact the viability of the Project going forward. We see great potential at Anzá, and whilst there is no certainty this deal will complete, should it happen, we will then be in the driving seat and be able to take the initiative on the Project."

Orosur Mining Inc.

Louis Castro, Chairman,

Brad George, CEO

SP Angel Corporate Finance LLP - Nomad & Joint Broker

Jeff Keating / Caroline Rowe / Kasia Brzozowska

Turner Pope Investments (TPI) Ltd - Joint Broker

Andy Thacker/James Pope

Flagstaff Communications and Investor Communications

Tim Thompson

Mark Edwards

Fergus Mellon