Results for First Quarter ended August 31, 2026
Q1 FY26 results show net loss of $0.548m; exploration activity ongoing in Colombia and Argentina.
| 3 months to 31 Aug 2026 | Now | Year before | Change |
|---|---|---|---|
| Net income | (£0.4m) | (£0.5m) | |
| Cash from operations | (£0.3m) | (£0.4m) | |
| Cash | £5.8m | – |
Figures as reported, converted to £ where needed – see all financials.
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London, 26th, October 2026. Orosur Mining Inc. (“Orosur” or “the Company”) (TSX-V: OMI) (AIM: OMI) announces its unaudited results for the first quarter ended August 31, 2026. All dollar figures are stated in US$ unless otherwise noted. The unaudited condensed interim financial statements of the Company for the quarter ended August 31, 2026 and the related management's discussion and analysis ("MD&A") have been filed and are available for review on the SEDAR+ website at www.sedarplus.ca. The financial statements and the MD&A are also available on the Company's website at www.orosur.ca.
A link to the PDF version of the financial statements is available here: http://www.rns-pdf.londonstockexchange.com/rns/2796A_1-2026-10-23.pdf
A link to the PDF version of the MD&A is available here: http://www.rns-pdf.londonstockexchange.com/rns/2796A_2-2026-10-23.pdf
HIGHLIGHTS
Highlights for the three months ended August 31, 2026 include:
Operational
Colombia
- On 9th June, 2026 the Company announced the discovery of new mineralized zones at APTA. The results substantially enhanced the prospectivity of APTA with three areas of potential requiring follow up. APTA continued to deliver and on 14th July, 2026 the Company announced a substantial gold intersection in Hole MAP 107 of 135m @ 1.91g/t Au, including 49m @ 4.06g/t Au. The hole ended in mineralisation.
- On 5th August, 2026 the Company confirmed that it had identified an extension of Pepas West with a flat lying body of mineralisation roughly 100 metres to the west of Pepas. The Company considers this free digging, flat lying, surficial, high grade oxide gold mineralisation to be a high priority in a near-term production scenario, from the point of view of cost and time required to define, develop and mine.
- Post the period end, on 15th September, 2026, the Company announced that it made a discovery at El Cedro, the most southerly of its three prospects. Partial results from the first hole at El Cedro showed gold mineralisation from surface of 61.35m @ 0.93g including 42.15m @ 1.02 g/t from 19m. Subsequently the Company announced gold mineralisation of 0.65g/t from surface to a depth of 267 metres, at which point drilling was prematurely terminated due to mechanical issues. Drilling has recommenced with a planned hole depth of 500m.
Argentina
- On 22nd July, 2026 the Company announced that its drilling campaign at the Company’s 100% owned El Pantano project had identified a major epithermal gold/silver system and that an NI 43 101 Technical Report had been filed on the project. The project comprises approximately 560km2 of contiguous granted licences in the prolific Deseado Massif of Santa Cruz Province, in Southern Argentina, roughly 45km from Anglo Gold's Cerro Vanguardia mining camp and 100km SE of Newmont Mining's giant Cerro Negro mine.
The west-to-east zonation at El Pantano is a key outcome of the Technical Report and provides an important framework which provides multiple exploration vectors, including structurally controlled gold-bearing vein corridors in the west, possible feeder structures at depth, newly identified regional soil anomalies south of the principal structure, and preserved pathfinder-rich alteration zones in the east. The Company will consider these alternatives and will develop exploration plans over the winter recess.
Financial and Corporate
On August 31, 2026, the Company had a cash balance of $7,841,000 (May 31, 2026 $9,954,000). As at the date of this MD&A and including the funds raised in the private placement (detailed below), the Company had a cash balance of US$16,840,000.
On October 6, 2026, the Company announced the closing of a brokered private placement (the “Placement”) which raised gross proceeds of Cdn$16,000,000 (including gross proceeds of Cdn$2,000,000 from the full exercise of the agent’s option) through the issue 50,000,000 units at a price of Cdn$0.32 per unit. Each unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of US$0.32 for a period of 24 months following closing of the placement.
Outlook and Strategy
The Company will focus on Colombia and Argentina whilst also looking for new opportunities in South America.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in thousands of United States dollars)
Unaudited
| As at Aug 31, 2026 $ | As at May 31, 2026 $ | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | 7,841 | 9,954 |
| Accounts receivable and other assets | 571 | 578 |
| Assets of Uruguay discontinued operations | 10 | 10 |
| Total current assets | 4,364 | 10,542 |
| Non-current assets | ||
| Accounts receivable and other assets | 878 | 773 |
| Property and equipment | 814 | 660 |
| Exploration and evaluation assets | 13,721 | 10,805 |
| Total assets | 23,835 | 22,780 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 739 | 722 |
| Liabilities of Chile discontinued operations | 4 | - |
| Warrant liability | 1,044 | 2,045 |
| Liabilities of Uruguay discontinued operations | 532 | 542 |
| Total current liabilities | 2,319 | 3,309 |
| Total liabilities | 2,319 | 3,309 |
| Deficit | ||
| Share capital | 95,529 | 92,529 |
| Share-based payments reserve | 12,442 | 11,513 |
| Warrants | 16 | 16 |
| Currency translation reserve | 285 | (1,379) |
| Accumulated deficit | (83,756) | (83,208) |
| Total equity | 21,516 | 19,471 |
| Total liabilities and equity | 23,835 | 22,780 |
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in thousands of United States dollars)
(Except common shares and per share amounts)
Unaudited
| Three Months Ended August 31, 2026 $ | Three Months Ended August 31, 2025 $ | |
|---|---|---|
| Corporate and administrative expenses | (462) | (398) |
| Exploration expenses | (178) | (61) |
| Share-based compensation | (929) | (73) |
| Other income | 15 | 4 |
| Net finance cost | (4) | (4) |
| Interest income | 56 | - |
| Loss on fair value of warrants | 1,001 | (79) |
| Foreign exchange (loss) gain | (44) | (74) |
| Net loss for the period for continuing operations | (545) | (685) |
| Net Loss from discontinued operations | (3) | (33) |
| Net loss for the period | (548) | (718) |
Item which may be subsequently reclassified to profit or loss:
| Three Months Ended August 31, 2026 $ | Three Months Ended August 31, 2025 $ | |
|---|---|---|
| Cumulative translation adjustment (net of tax $nil – (2025 - $nil) | 1,664 | 225 |
| Total comprehensive income (loss) for the period | 1,116 | (493) |
| Basic and diluted net loss per share for | ||
| - continuing operations | (0.00) | (0.00) |
| - discontinued operations | (0.00) | (0.00) |
| Weighted average number of common shares outstanding | 401,005,074 | 314,235,630 |
| Condensed Interim Consolidated Statements of Cash Flows | ||
| (Expressed in thousands of United States dollars) | ||
| Unaudited | Three Months Ended August 31, 2026 $ | Three Months Ended August 31, 2025 $ |
| Operating activities | ||
| Net loss for the period | (548) | (718) |
| Adjustments for | ||
| Depreciation | 5 | 5 |
| Share-based compensation | 929 | 73 |
| (Gain) loss on fair value of warrants | (1,001) | 79 |
| Foreign exchange and other | 331 | (6) |
| Changes in non-cash working capital items: | ||
| Accounts receivable and other assets | 64 | (1) |
| Accounts payable and accrued liabilities | (161) | (32) |
| Net cash used in operating activities | (381) | (600) |
| Investing activities | ||
| Purchase of property and equipment | (159) | - |
| Exploration and evaluation expenditures | (1,573) | (554) |
| Net cash used in provided by investing activities | (1,732) | (554) |
| Financing activities | ||
| Proceeds from exercise of warrants | - | 174 |
| Net cash provided by financing activities | - | 174 |
| Net change in cash | 2,113) | (980) |
| Net change in cash classified within assets of discontinued operations | - | 9 |
| Cash, beginning of period | 9,954 | 4,877 |
| Cash end of period | 7,841 | 3,906 |
| Operating activities | ||
| - continuing operations | (375) | (600) |
| - discontinued operations | (6) | - |
| Investing activities | ||
| - continuing operations | (1,732) | (554) |
| Financing activities | ||
| - continuing operations | (6) | 183 |
| - discontinued operations | 6 | (9) |
| Supplemental information: | ||
| Interest paid (received) | (56) | - |
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