Orosur Mining Inc (AIM:OMI) Colombia Update

London, October 21st, 2022 . 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.

· Assays from four additional diamond drill holes at Pepas and Pupino.

· Holes PEP005 and PEP007 drilled from the same pad as PEP001 but in different directions.

· Holes PEP005 and PEP007 return substantial gold intersections, with the best at PEP007 being 80.55m @ 3.05g/t Au from surface (including 41.75m @ 5.24g/t).

· Two holes are currently underway from new pads to attempt to better define the geometry of this mineralised body.

The Project is the subject of an Exploration Agreement with Venture Option (“Exploration Agreement”) with Colombian company Minera Monte Águila (“MMA”). MMA is itself a 50:50 JV between Newmont Corporation (NYSE:NEM, TSX:NGT) and Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM), and is the Colombian vehicle by which these two companies jointly exercise their rights and obligations with respect to the Exploration Agreement over the Project.

MMA is the operator of the Project after exercising its right to assume operational control in the second half of 2021.

Assay Results

Assay results from four additional diamond drill holes (PEP004, PEP005, PEP007 and PUP001) from the Pepas and Pupino prospects have been received.

Both the Pepas and Pupino prospects are located in the northern region of the Anzá Prospect, roughly 12km and 8km respectively north northeast from the central APTA prospect that had seen most drilling at Anzá up until early 2022.

Key intersections are noted below.

Table 1.  Drill Intercepts.

Geology and Drilling

Drilling activities commenced at Pepas in April 2022, and at the nearby Pupino prospect soon afterward. Assay results from the first three holes at Pepas (PEP001, PEP002 and PEP003) were released on September 6th, 2022, which included an intersection of 150.90m @ 3.00g/t Au from surface in hole PEP001.

This first phase of drilling at Pepas and Pupino included holes across a wide area, focussing on a number of geochemical, geological and/or geophysical targets. While the assay results from PEP001 were encouraging, the hole provided limited information on the shape and orientation of the mineralised zone. This was to be expected being the first hole into a new target and due to the fact that the hole started in mineralisation. To obtain further information on the shape and orientation of the mineralised zone further drilling in different directions and from different locations is currently underway. However, the development of new drill sites is a complex and time-consuming task in this region, and as such several interim holes were drilled from the same pad as PEP001 while new pads were being constructed.

igure 1. Drill Plan, Pepas Prospect

PEP004

PEP004 was one of the original reconnaissance holes at Pepas, drilled some 700m north of PEP001 to a depth of 627m, to test lithostratigraphic targets unrelated to the mineralisation encountered in PEP001.

No substantial mineralisation was intersected.

PEP005

PEP005 was drilled from the same drill pad as PEP001 but in a different direction, with an azimuth of 94.6 degrees (roughly eastward) to provide information to assist in defining the size and orientation of the mineralised body intersected in PEP001. The hole was drilled to a depth of 448m.

As expected, the hole entered mineralisation at surface before exiting the breccia body at a shallow depth, returning an intersection of 36.85m @ 2.13g/t Au. This hole has provided some information suggestive of the likely strike of the mineralisation that will require further confirmation.

PEP007

PEP007, like PEP005, was drilled from the same pad as PEP001 but in a more southerly direction (azimuth of 170 degrees) and at a steeper dip (-69.9 degrees) to test the mineralised body at greater depth and, as with PEP005, to provide information to assist in defining the orientation of the body.

This hole also entered mineralisation from surface, recording an intersection of 80.55m @ 3.05g/t Au extending to greater depth to that intersected in PEP001.

However, as with several other early holes at Pepas, broken ground and difficult drilling conditions were encountered, and the hole was terminated at a premature depth of 134m.

PUP001

PUP001 was drilled at the Pupino prospect to test a geophysical IP anomaly that did not coincide with any anomalous geochemistry. The hole was drilled to a depth of 490m.

This target was not considered the highest priority in the region, but as the terrain at Pupino is challenging, this hole was drilled while access to more prospective targets was being developed.

However, Pupino has proved more logistically challenging than anticipated, especially because of the time lost for crews to walk to and from the rig from a remote camp. Following the recent completion of PUP002, it has been decided to temporarily suspend drilling activities at Pupino until better camp facilities can be developed.

A number of other holes at Pepas have been completed and are awaiting assays, with several additional holes currently underway.

Following construction of new drill pads to the west of the mineralised zone and interpreted structural trend of Pepas, two new holes (PEP008 and PEP009) are currently underway. It is anticipated that stepping back and drilling from outside the mineralised zone should provide additional information related to the shape and orientation of Pepas.

Orosur CEO Brad George commented:

“PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted. It is encouraging therefore that further holes have confirmed this first result and we eagerly await results from better positioned holes that are currently underway to get a better sense of the scale of what appears a most exciting prospect.”

For further information, visit www.orosur.ca, follow on twitter @orosurm or contact :

Orosur Mining Inc.

Louis Castro, Chairman

Brad George, CEO

Email: [email protected]

Tel: +1 (778) 373-0100