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July 6, 2021, 2:01 a.m. EDT

Orosur Mining Inc Announces Colombia Update

  • Assays from nine additional holes

  • Multiple high-grade gold intersections with associated silver and zinc- including 59.55m @ 9.61g/t Au and 61.75m @ 2.05g/t Au.

  • Current drilling program nearing completion as planned

  • Further assays expected in due course

  • Regional field work progressing well.

  • Major geophysical surveys planned.

LONDON, UK / ACCESSWIRE / July 6 , 2021 /Orosur Mining Inc. ('Orosur' or the 'Company') (TSX:CA:OMI) (aim:OMI), is pleased to announce an update on the progress of Minera Anzá's drilling campaign currently underway at the Company's Anzá project in Colombia.

For the full PDF version of the announcement with Figures 1-5 included, please refer to: http://www.rns-pdf.londonstockexchange.com/rns/2388E_1-2021-7-5.pdf

Results of further nine holes (MAP-083 to MAP-091)

Assay results for nine additional diamond drillholes have been received from the ALS Chemex's laboratory in Lima, Peru.

Significant results from these holes include:

MAP-086 3.90m @ 6.13g/t Au, 17.27g/t Ag, 0.79% Zn

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:

Hole No From (m) To (m) Interval (m) g/t Au g/t Ag % Zn
MAP083 191.40 207.95 16.55 0.88 15.11 0.50
including 195.30 207.95 12.65 1.08 19.52 0.41
MAP083 219.80 232.20 12.40 0.20 0.93 0.85
including 224.94 228.10 3.16 0.29 1.20 2.40
MAP083 232.20 245.60 13.40 0.32 1.10 2.61
including 232.90 234.00 1.10 1.19 2.04 7.88
MAP084 258.00 260.30 2.30 1.66 0.74 0.57
MAP084 344.85 345.60 0.75 0.84 1.48 9.09
MAP085 301.55 327.00 25.45 0.48 2.64 0.47
including 314.80 317.70 2.90 1.27 2.87 2.41
including 324.70 326.25 1.55 1.03 4.05 1.46
MAP086 179.20 183.10 3.90 6.13 17.27 0.79
including 180.70 181.30 0.60 36.00 63.80 4.44
MAP086 215.35 234.07 18.72 2.85 2.95 1.59
including 216.90 220.35 3.45 3.02 2.49 1.40
including 226.7 230.2 3.50 8.18 4.70 1.55
including 232.57 233.10 0.53 9.01 7.66 0.78
MAP086 242.61 243.95 1.34 0.61 1.10 1.76
MAP087 119.70 120.65 0.95 1.14 8.49 0.57
MAP087 152.80 155.35 2.55 0.95 6.84 3.53
including 154.90 155.35 0.45 1.87 8.84 1.71
MAP087 200.85 203.20 2.35 0.38 3.81 -
MAP087 222.50 223.150 0.65 2.98 0.61 0.78
MAP087 231.40 232.10 0.70 6.92 1.32 1.10
MAP087 320.10 323.00 2.90 0.36 11.39 0.42
MAP088 204.30 207.70 3.40 0.34 21.92 0.01
MAP088 218.64 223.05 4.41 0.29 2.61 1.00
MAP088 246.80 278.25 31.45 0.74 1.96 0.21
including 247.40 253.05 5.65 1.29 2.54 0.19
including 276.20 278.25 2.05 1.70 2.07 0.25
MAP088 284.75 296.4 11.65 0.78 2.31 2.15
MAP088 438.25 443.35 5.10 0.68 11.40 0.05
MAP089 204.00 204.75 0.75 7.08 100.00 0.19
MAP089 214.55 218.60 4.05 1.30 7.16 0.16
MAP089 251.10 255.40 4.30 9.31 5.40 6.14
including 251.75 254.50 2.75 14.16 7.67 9.38
MAP089 275.10 334.65 59.55 9.61 6.23 3.75
including 288.95 323.70 34.75 15.86 7.56 6.21
including 311.45 323.70 12.25 36.08 11.65 8.48
MAP090 149.95 152.40 2.45 1.14 3.46 1.58
including 150.55 151.40 0.85 2.51 5.96 2.61
MAP090 158.05 159.35 1.30 2.56 2.41 2.58
including 158.90 159.35 0.45 6.40 1.88 6.16
MAP090 174.30 177.40 3.10 12.9 2.7 4.67
including 175.40 177.40 2.00 19.80 2.55 2.36
MAP090 180.15 186.20 6.05 9.91 1.56 0.48
including 181.65 182.40 0.75 24.40 2.06 0.93
including 184.50 186.20 1.70 22.58 3.35 0.80
MAP090 206.00 209.70 3.70 7.43 1.38 0.08
including 208.40 208.95 0.55 44.00 4.59 0.05
MAP090 225.25 229.2 3.95 0.96 2.47 0.02
including 227.90 229.20 1.3 2.23 1.69 0.02
MAP090 289.70 290.90 1.20 5.64 2.15 0.11
MAP091 99.10 99.85 0.75 1.33 4.27 0.02
MAP091 106.70 108.30 1.60 0.55 6.99 0.03
MAP091 115.00 120.30 5.30 1.09 1.93 0.16
including 115.00 115.60 0.60 4.60 3.33 0.44
MAP091 142.10 153.25 11.15 0.46 0.71 0.25
MAP091 162.70 166.55 3.85 1.33 1.01 0.44
including 165.15 166.00 0.85 3.79 1.11 0.29
MAP091 199.70 202.20 2.50 6.82 0.95 -
MAP091 222.55 284.3 61.75 2.05 3.30 0.83
including 223.00 224.80 1.80 8.75 5.28 2.91
including 232.00 233.00 1.00 4.34 3.85 2.12
including 237.90 238.30 0.40 6.99 4.03 4.54
including 250.50 253.05 2.55 9.08 2.78 0.75
including 268.05 277.45 9.40 5.12 3.25 2.37
MAP091 316.2 320.88 4.68 2.33 1.72 0.14
including 320.4 320.88 0.48 11.10 4.30 0.89
MAP091 346.00 355.75 9.75 0.92 0.23 0.02
including 346.00 348.65 2.65 1.93 0.30 0.02

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
info@orosur.ca
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
orosur@flagstaffcomms.com
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*

Hole ID Easting (m) Northing (m) Elevation asl (m) Dip (°) Azimuth (°)
MAP-072 400088 694745 1075 -55 293
MAP-073 400018 694503 1097 -58 295
MAP-074 399981 694684 1110 -58 295
MAP-075 400168 694723 1024 -55 295
MAP-076 400019 694527 1107 -50 295
MAP-077 400168 694723 1024 -69 295
MAP-078 399917 694719 1112 -50 295
MAP-079 399995 693976 960 -55 295
MAP-080 400231 694580 966 -55 295
MAP-081 400045 693950 920 -55 295
MAP-082 400176 694797 1020 -50 296
MAP-083 400176 694797 1020 -60 310
MAP-084 400045 693950 920 -57 321
MAP-085 400167 694552 1000 -46 247
MAP-086 400067 694360 1068 -54 295
MAP-087 400027 694168 988 -54 290
MAP-088 400168 694723 1024 -55 341
MAP-089 400067 694360 1068 -59 317
MAP-090 400041 694630 1059 -56 296
MAP-091 400060 694715 1089 -50 295

* Coordinates WGS84, UTM Zone 18

About Orosur Mining Inc.

Orosur Mining Inc. (TSX:CA: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') (NYS:NEM) (TSE:CA:NGT) , and Agnico Eagle Mines Limited ('Agnico') (NYS:AEM) (TSE:CA: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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com .

SOURCE: Orosur Mining Inc.

COMTEX_389395263/2457/2021-07-06T02:00:33

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