Colombia update

• Drilling commenced at Pepas Prospect.

London, November 21st 2024. Orosur Mining Inc. ("Orosur" or the "Company") (TSXV/AIM:OMI), is pleased to announce an update on the completion of the acquisition of Minera Monte Aguila SAS ("MMA") and the progress of exploration activities at the Company's Anzá Project ("Project") in Colombia.

As announced on September 10th 2024, the Company signed a definitive, binding Share Purchase Agreement ("SPA") for the acquisition of MMA, that, once completed, would see the Company returning to 100% ownership of the Anzá Project, in return for deferred, production based, consideration.

The Project comprises a number of granted exploration licences and applications on the prolific Mid-Cauca belt of Colombia, approximately 50km west of Medellin. The total licence package previously under joint venture currently totals some 175km2 in area, however the size of the Project will increase substantially post completion with the addition of new applications held by MMA.

As announced on October 17th 2024, following approval of the SPA by the TSX Venture Exchange, the parties began the process of completion, largely involving the exchange of necessary documentation, and the lodging of a variety of notices and company accounts with regulatory bodies in Colombia and Canada. This process is expected to complete in the next few weeks.

In the meantime, the Company has reassumed activities at the Project and control of the site, including reoccupation of the main camp at APTA, where Company staff will be based and all drill core from drilling programs will be logged, cut and sampled prior to being submitted to a laboratory in Medellin for analysis.

Prior to this, the Company has for some months been preparing for resumption of field work, focussing on a planned drill program at the Pepas prospect in the north of the Project area. The drilling contractor mobilised to site last week and drilling has now commenced at Pepas.

A small drill program is planned at Pepas, with six or seven holes for a total of roughly 800m. This program is expected to take approximately six weeks to complete.

The objective of this program is to better understand the orientation and litho-structural controls of high-grade gold mineralisation intersected in three previous holes drilled by the Company's former JV partner from the same drill pad in 2022.

Drill hole PEP-001 was commenced in June 2022. Assay results from PEP-001, announced on September 6th, 2022, showed high grade gold mineralisation from surface, with the hole returning a composite intersection of 150m @ 3.0g/t Au from surface.

Two additional holes were then drilled from this same pad, with results announced on October 21st 2022, with PEP-005 returning 35.5m @ 2.12g/t Au and PEP-007 returning 80.55m @ 3.05g/t Au. (Figure 1). Several later holes were drilled at Pepas from different distant pads that did not intersect substantial mineralisation. The nature of gold mineralisation in these first three holes therefore remained unresolved.

Figure 1. Drilling and geological plan, Pepas Prospect

The first hole of this new drill program will be collared near an abandoned artisanal tunnel containing high grade gold mineralisation (tunnel A, Figure1, results announced October 22nd 2024) and drilled toward the North West to intersect the mineralisation identified in hole PEP-001, but from the opposite direction. The location and azimuth of the next holes will then be adjusted on the basis of geological information obtained from this "scissor hole" so as to define the nature of this mineralisation and provide guidance for later definition drilling.

Orosur CEO Brad George commented:

"The commencement of drilling at Pepas is the culmination of a long commercial process that sees Orosur return to 100% ownership of the Anzá project. Previous drilling and recent sampling show Pepas has developed into an impressive target. We eagerly anticipate results in coming weeks."