Colombia update

• Assays from first drill hole (PEP012) of new drilling program at Pepas received.
• PEP012 returns exceptional result of 66.75m @ 5.64g/t Au, from surface.
• Second hole of program (PEP013) completed, with rig about to commence the third hole (PEP014)

London, December 2nd, 2024. Orosur Mining Inc. ("Orosur" or the "Company") (TSXV/AIM:OMI), is pleased to announce an update on the progress of exploration activities at the Company's flagship Anzá Project ("Project") in Colombia.

ANZÁ Project

During the JV, the Project comprised several granted exploration licences and applications totalling roughly 176km2, covering a large strike length of major structures on the mid-Cauca belt, Colombia's primary gold region (Figure 1).

Post the acquisition of MMA, the area of the Project has increased substantially to over 400km2 due to the acquisition of a number of additional applications that were owned by MMA. The full extent of these new applications is currently being assessed and will be detailed in a later announcement.

Figure 1 - Anzá Project (pre-MMA transaction)

Pepas

Figure 2. Anzá Project - prospects

Field work commenced at Pepas in late 2021 as the gradual abatement of Covid allowed field crews to move outside a covid bubble that had constrained their movements during the pandemic to the core APTA deposit that had up to that point been the target of most historical exploration work.

Mapping work by the Company's previous JV partner identified Pepas as a small window of attractive altered tuffs and other volcanics within an area of less prospective intrusives. The prospect was identified as a result of regional BLEG sampling, with later surface rock chip sampling returning highly anomalous results, with assays at times in excess of several grammes per tonne gold over a wide area (Figure 3). In particular, a small outcrop of silicified tuff, roughly 20m2 in size was channel sampled in early 2022, returning assays between 3.41g/t Au to 95.5g/t Au.

Drill hole PEP-001 was commenced in June 2022, positioned to intersect the interpreted depth extension of this anomalous outcrop. Assay results from PEP001, announced on Sept 6th, 2022, showed 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 Oct 21st 2022, with PEP005 returning 35.5m @ 2.12g/t Au and PEP007 returning 80.55m @ 3.05g/t Au, both from surface (Figure 3).

Later holes at the Pepas prospect were drilled some considerable distance from this original drill pad, and did not return similar results.

It was the view of the Company that the form, orientation and controlling structures of the gold mineralisation at Pepas, first identified in hole PEP001 were unresolved by this later drilling, and that the Pepas target remained largely untested.

Over the last several months while the SPA was being finalised, Company geological teams assumed control of the site and undertook more detailed surface mapping and sampling, resulting in the identification of numerous high grade gold occurrences over a larger area and within abandoned artisanal tunnels, with results announced on Oct 22nd 2024.

Figure 3. Pepas - previous drilling and surface sampling

The Company mobilised a drill rig to site in mid-November with a view to a small program of approximately 800m with the dual objectives of assessing the continuity of gold mineralisation between hole PEP001 and the above surface samples and tunnels, and gaining of greater understanding of the orientation of mineralisation and its lithostructural controls.

The first hole of this new program, PEP012, was collared adjacent to the aforementioned artisanal workings and directed back toward PEP001, as a scissor hole, a reasonably standard strategy in instances of uncertain geological orientation (Figure 4).

Figure 4. Plan of holes

PEP012 entered highly mineralised tuffs almost immediately, of similar nature to that seen in PEP001. Multiple fractures, veining, minor sulphides, and pervasive silicification and alteration were mapped for a considerable length. The hole then intersected a major fault at 67m downhole depth, below which was an unmineralized chlorotic epidote tuff. The hole was terminated at 93m.

Figure 5. Isometric view (schematic only, holes not on section)

Lithologies and structures in the hole are indicative of a major epithermal system and warrant further study.

The entire length of PEP012 above the fault, was mineralised with gold to a subtantial level, with a composite intersection of 66.75m @ 5.64g/t Au being calculated, from surface.

Table 1. Drill Intercepts

Ongoing Drilling

Following completion of PEP012, the second hole in the program PEP013 was commenced almost immediately. PEP013 was drilled from the same pad as PEP012, but with the rig rotated 51 degrees eastward in order to test both the mineralisation and potential structural controls from a direction that was felt to be more orthogonal to the mineralised trend.

PEP013 was completed on 29th Nov 2024, with samples in the process of being submitted for assay.

The third hole in the program, PEP014 is located on a different pad to the previous two holes and several days will be required to move the rig. Drilling at PEP014 is expected to commence shortly.

These two holes, being in substantially different directions to holes PEP001 and PEP012, should provide greater context to orientation and geological controls that can then provide guidance for future drilling.

Orosur CEO Brad George commented:

"Results from PEP012 largely speak for themselves. Numbers aside, this result is a striking testament to going back to basics - take care of the geology and the ounces will take care of themselves. Still early days, but an excellent start"