Share Placing

London, 19 December 2024. Orosur Mining Inc. ("Orosur" or the "Company") (TSX-V/AIM:OMI), announces that it has raised the sum of £1.25 million (before expenses) through a placing (the "Placing") of 18,939,394 new common shares of no par value ("Placing Shares" or "New Common Shares") at a price of 6.6 pence per Placing Share ("Placing Price"). Completion of the Placing is subject, amongst other things, to admission of the New Common Shares to trading on AIM ("Admission"), and review and acceptance by the TSX-V.

The Company held cash of US$500,000 (approximately £397,000) as at 18 December 2024, and the additional funds will be used largely to progress the Company's Anzá exploration project in Colombia. Work at Anzá will include further drilling at the Pepas prospect, mineral resource review work at APTA and more detailed sampling and mapping at El Cedro and El Roble.

Details of the Placing

The Placing Price represents a discount of approximately 25 per cent. to the closing mid-market price of the common shares on 18 December 2024, being the last trading day prior to the release of this announcement of the Placing, on both the AIM market and on the TSX-V.

The Placing Shares will, when issued, represent approximately 8.0 per cent of the existing common shares and will represent approximately 7.4 per cent. of the enlarged share capital of the Company.

The Placing was undertaken by Turner Pope Investments (TPI) Ltd ("Turner Pope" or "TPI"), the Company's Joint Broker.

Placing Agreement, Admission and Total Voting Rights

The Company and Turner Pope have entered into a placing agreement ("Placing Agreement") pursuant to which Turner Pope agreed to use its reasonable endeavours to procure placees pursuant to the Placing. The Placing Agreement contains certain warranties and indemnities given by the Company in favour of Turner Pope. It also contains provisions entitling Turner Pope to terminate the Placing Agreement prior to Admission if, among other things, a breach of any of the warranties occurs.

Completion of the Placing is subject, amongst other things, to the 18,939,394 New Common Shares being admitted to trading on AIM and is also conditional upon the Placing Agreement becoming unconditional in all respects and not being terminated in accordance with its terms. Application will be made for Admission. It is expected that Admission will become effective at 8.00am (GMT) on or around 30 December 2024.

Following the issue of the 18,939,394 New Common Shares, which on Admission will rank pari passu with the existing common shares, the total number of common shares in issue with voting rights in the Company will be 255,459,097.

The above figure of 255,459,097 common shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Placing Price of 6.6 pence translates to 12.0 Canadian cents at the exchange rate of GBP1=CAD$1.82. No finder's fees have been paid as part of the placing.

Broker Warrants

In connection with the Placing, TPI will be issued with 1,893,939 broker warrants ("Broker Warrants"), the principal terms of which are as follows:

• TPI will have the right at any time prior to 18 December 2029, upon written notice, to subscribe for new common shares on the basis of one new common share for each Broker Warrant held, at US$0.0832 (6.6 pence) per new common share;
• the Broker Warrants will not be listed or admitted to trading on any exchange, including without limitation AIM or TSX-V; and
• the subscription rights under the Broker Warrants will be subject to adjustment in the event of various corporate actions affecting the share capital of the Company.

Orosur CEO Brad George commented:

"The funds raised will be used principally to extend our drilling campaign in Pepas which has, to date, produced positive results, and will help us to better understand what we have at Pepas. We will also do further work on the potential resource at APTA".