REG - Orosur Mining Inc - Colombia update

Orosur MiningAnnouncement

17/10/2024 07:00

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RNS Number : 4822I  Orosur Mining Inc  17 October 2024

 

 

 

Orosur Mining Inc - Colombia update

 

·    Approval received from TSX.V for Anzá transaction

·    Progressing with process of completion

 

London, October 17(th) 2024. Orosur Mining Inc. ("Orosur" or the "Company")
(TSXV/AIM:OMI) is pleased to announce that further to its news release of
September 10(th), 2024, the TSX.V has now granted approval of the transaction
that would see Orosur returning to 100% ownership of the Anzá gold project in
Colombia, subject to terms and deferred consideration as outlined in the Sept
10(th) announcement.

 

The Company is now actively progressing toward technical completion of the
Anzá transaction, with a view to commencement of field activities at Anzá as
soon as possible.

 

For further information, visit www.orosur.ca (http://www.orosur.ca) , follow
on X @orosurm or please contact:

 

Orosur Mining Inc

Louis Castro, Chairman

Brad George, CEO

info@orosur.ca (mailto:info@orosur.ca)

Tel: +1 (778) 373-0100

 

SP Angel Corporate Finance LLP - Nomad & 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

Tim Thompson

Mark Edwards

Fergus Mellon

orosur@flagstaffcomms.com (mailto: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.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

About the Anzá Project

 

Anzá is a gold exploration project, comprising a number of granted
exploration licences and applications in the prolific Mid-Cauca belt of
Colombia.

 

Orosur's interest in the Anzá Project is currently held 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, 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") and Agnico Eagle Mines Limited ("Agnico").

 

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 Inc. and a
qualified person as defined by National Instrument 43-101.

 

 

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, completion of the
Acquisition, Orosur becoming operator of the Anzá Project, the expected focus
on the Pepas prospect, the exploration plans in Colombia and the funding of
those plans, and other events or conditions that may occur in the future.
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 to, meeting
conditions to closing the Acquisition, timing of closing of the Acquisition
and those as described in Section "Risks Factors" of the Company's MD&A
for the year ended May 31, 2024. 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. 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 closure 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.

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