Orosur Mining Inc Announces Colombia Update

18.72m @ 2.85g/t Au, 2.95g/t Ag, 1.59% Zn

MAP-089 4.3m @ 9.31g/t Au, 5.4g/t Ag, 6.14% Zn

59.55m @ 9.61g/t Au, 6.23g/t Ag, 3.75% Zn

MAP-090 3.1m @ 12.96g/t Au, 2.56g/t Ag, 4.66% Zn

6.05m @ 9.91g/t Au, 1.56g/t Ag, 0.48% Zn

3.70m @ 7.43g/t Au, 1.38g/t Ag, 0.08% Zn

MAP-091 61.75m @ 2.05g/t Au, 3.3g/t Ag, 0.82% Zn

Full results are detailed in table 1:

Table 1. Drill Intercepts*.

(* Intersections are reported as down-hole widths, not true widths. The Company does not yet have sufficient drilling information to accurately calculate true widths of drill hole intersections.

These nine holes have been successful in providing greater guidance as to the shape and nature of gold mineralisation at APTA, specifically identifying a number of thick, high-grade, plunging shoots, surrounded by a lower grade halo. The Anzá geological team is working to develop 3D models of the mineralisation that will assist in future targeting.

Economically, such shoots could be highly significant as they would likely be of extreme importance for any operation at APTA, and therefore represent the primary target for ongoing drilling.

The mineralisation thus far extends over a strike length in excess of 800m and remains open in several directions according to the most recent interpretation of the mineralisation.

Figure 1. Drill Hole Locations

Figure 2. Mineralisation Outline, North APTA

Figure 3. Section MAP-089 and MAP-085 (off section)

Figure 4. Section MAP-091

Regional Exploration

As noted previously, a range of regional exploration programs have been underway for some time across the wider land package and include geological mapping, BLEG sampling, and soil and stream sediment sampling.

Work has been concentrated in the NE licence area, with two new prospect areas being identified and named for future reference - Pupino and Pepas (fig 5)

Figure 5. Prospects and Sampling

Mapping and sampling work is challenging due to rugged terrain, and the need to maintain strict Covid-19 protocols, but results have been positive with identification of favourable lithologies, large silicified boulders, quartz veins, and pervasive sulphide development.

Soil and stream sediment samples have been sent to commercial laboratories for analysis, while BLEG samples, requiring more specialised assay and analysis, have been sent to Newmont's in-house laboratory in Denver, Colorado for analysis.

Results are expected in coming weeks.

Geophysical Surveys

Due to the observed correlation between sulphide development and gold mineralisation, geophysical methods such as Induced Polarisation (IP) should be an effective tool in identification high sulphide-bearing zones and to assist in drill targeting.

To that end, a large IP survey is currently being planned along various sections of the Aragon Fault that have thus far been shown to be prospective from preliminary field observations. Planning and ground clearance is now underway, and it is hoped that work may commence in early August 2021.

Drilling Status and Planning

The Company is now nearing the end of its planned 9,500m drilling program that commenced in November 2020. At times up to five rigs were on site, however as the final hole of this program is currently underway, only one rig is now operating.

Once the final hole of this early program is complete, that remaining rig will remain on site and continue to drill at APTA to gradually expand this zone of mineralisation.

The primary objective of the Company's exploration program is to determine the potential of the Anzá land package to host a large gold mineralisation system. The first phase of drilling has successfully defined significant high grade gold mineralisation at APTA, and this will be gradually expanded with one rig. The next major phase of drilling will be targeted at identifying additional centres of mineralisation along the 20km strike of the Aragon Fault, and other anomalous zones.

Social and community clearance has been underway for some months in these new areas as part of the mapping and sampling programs. A component of which has been the assessment of access conditions and the likely need for improvement. Once targets have been finalised in the coming weeks, the required logistical work will commence to open up these areas for drilling activities.

Orosur CEO Brad George commented:

'While a long time coming, these drill results are spectacular and give us great comfort that Anzá has the potential to be a major gold system.

Further assays are expected in due course. We are now directing our teams to identifying the next drill targets - work that has so far shown great promise.'

For further information, please contact:

Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 (778) 373-0100

SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470

Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker
James Pope
Tel: +44 (0)20 3657 0050

Flagstaff Communications and Investor Communications
Tim Thompson
Mark Edwards
Fergus Mellon
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Tel: +44 (0)207 129 1474

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Drill Hole Details - 2020/2021 Programme*

* Coordinates WGS84, UTM Zone 18

About Orosur Mining Inc.

Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.

About the Anzá Project

Anzá is a gold exploration project, comprising three exploration licences, four exploration licence applications, and several small exploitation permits, totalling 207.5km2 in the prolific Mid-Cauca belt of Colombia.

The Anzá Project is currently wholly owned by Orosur via its subsidiary, Minera Anzá S.A.

The project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp.

The Anzá Project is subject to an Exploration Agreement with Venture Option dated September 7th, 2018, as announced on September 10th, 2018, (the 'Agreement') between Orosur's 100% subsidiary Minera Anzá S.A ('Minera Anzá') and Minera Monte Águila SAS ('Monte Águila'), a 50/50 joint venture between Newmont Corporation ('Newmont') (NYSE:NEM, TSX:NGT), and Agnico Eagle Mines Limited ('Agnico') (NYSE:AEM, TSX:AEM).

Qualified Persons Statement

The information in this news release was compiled, reviewed and verified by Mr. Brad George, BSc hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Ltd and a qualified person as defined by National Instrument 43-101.

Orosur Mining staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards.

Drill core is split in half over widths that vary between 0.3m and 2m, depending upon the geological domain. One half is kept on site in the Minera Anzá core storage facility, with the other sent for assay.

Industry standard QAQC protocols are put in place with approximately 20% of total submitted samples being blanks, repeats or Certified Reference Materials (CRMs).

Samples are sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS Global laboratory in Lima, Peru.

30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-finish for overlimit assays of >10g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses is also undertaken for such elements as silver, copper, lead and zinc, etc.

Gold intersections are reported using a lower cut off of 0.3g/t Au over 3m.

Forward Looking Statements

All statements, other than statements of historical fact, contained in this news release constitute 'forward looking statements' within the meaning of applicable securities laws, including but not limited to the 'safe harbour' provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release.

Forward-looking statements include, without limitation, the exploration plans in Colombia and the funding from Monte Águila of those plans, Monte Águila´s decision to continue with the Exploration and Option agreement, the ability for Loryser to continue and finalize with the remediation in Uruguay, the ability to implement the Creditors' Agreement successfully as well as continuation of the business of the Company as a going concern and other events or conditions that may occur in the future. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory implementation of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward looking statements. Such statements are subject to significant risks and uncertainties including, but not limited, those as described in Section 'Risks Factors' of the MDA and the Annual Information Form. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.

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SOURCE: Orosur Mining Inc.