REG - Orosur Mining Inc - Results for the Third Quarter ended February 28

Orosur MiningAnnouncement

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RNS Number : 2922C  Orosur Mining Inc  29 April 2026

Orosur Mining Inc.

Results for Third Quarter ended February 28th, 2026

 

London, April 29th, 2026. Orosur Mining Inc. ("Orosur" or "the Company")
(TSX-V/AIM: OMI) the minerals explorer and developer with operations in
Colombia and Argentina, announces its unaudited results for the quarter ended
February 28th, 2026. All dollar figures are stated in US$ unless otherwise
noted.

The unaudited condensed interim financial statements of the Company for the
quarter ended February 28th, 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
(http://www.orosur.ca) .

To view the PDF version of the financial statements please click here:
http://www.rns-pdf.londonstockexchange.com/rns/2922C_2-2026-4-28.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2922C_2-2026-4-28.pdf)

To view the PDF version of the MD&A, please click here
http://www.rns-pdf.londonstockexchange.com/rns/2922C_1-2026-4-28.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2922C_1-2026-4-28.pdf)

Both PDF version's of the MD&A and financial statements are available
here: www.orosur.ca

Highlights

 

Highlights for the three months ended February 28th, 2026 include:

 

Operational

 

In Colombia, at the Anza Project, the Company completed its in-fill drilling
program at Pepas and has declared a Maiden Resource Estimate of 219,000 ounces
of gold. The Company is now drilling in the greater Pepas area with a view to
refining its geological model and identifying potential future deposits. After
the period end, the Company announced that it had identified a second area of
mineralization some 100 metres to the West of Pepas. In APTA, to the south of
the Pepas deposit, in the middle of the Company's licence area, drilling
commenced post the period end to gain a better understanding of the geological
controls ahead of a potential resource estimate later this year. And, to the
south of APTA, geological mapping and sampling has been completed at El Cedro
and the Company announced that new mapping and sampling had commenced post the
period end at a new second porphyry identified to the south of El Cedro. New
airborne geophysics is being flown to establish drilling targets at both El
Cedro and in the new second porphyry identified to the south of El Cedro.

 

In Argentina, the Company's first drilling program for a total of circa 4,400
metres had been completed by the end of March 2026 at the El Pantano project
and results are awaited. Interpretation of all new and historical data will
inform a next phase of field work which may be commissioned later in the year,
potentially ahead of a second drill program at the project.

 

 

Financial and Corporate

 

At the Company's AGM, held on December 17, 2025 all resolutions put to
shareholders were duly passed. During the quarter, 3,171,898 warrants have
been exercised raising $323,000 and 666,664 options have been exercised
raising $29,000 for the Company. In addition, during the quarter, 85,000 RSUs
were exercised by one of the non-executive Directors.

 

On February 28th, 2026, the Company had a cash balance of $13,650,000 (May 31,
2025 $4,877,000). As at the date of this MD&A the Company had a cash
balance of $11,570,000

 

The unaudited condensed interim consolidated financial statements have been
prepared on a going concern basis under the historical cost method except for
certain financial assets and liabilities which are accounted for as Assets and
Liabilities held for sale (at the lower of book value or fair value) and
Profit and Loss from discontinuing operations. This accounting treatment has
been applied to the activities in Uruguay and Chile.

 

 

 

 Condensed Interim Consolidated Statements of Financial Position
 (Expressed in thousands of United States dollars)
 Unaudited
                                                    As at               As at

                                                    February 28, 2026   May 31,

                                                    $                   2025

                                                                        $
 ASSETS

 Current assets
 Cash                                               13,650              4,877
 Restricted cash                                    12                  12
 Accounts receivable and other assets               1,012               434
 Assets held for sale in Uruguay                    10                  20
 Total current assets                               14,684              5,343

 Non-current assets
 Property and equipment                             447                 288
 Exploration and evaluation assets                  8,468               3,858
 Total assets                                       23,599              9,489

 LIABILITIES AND EQUITY

 Current liabilities
 Accounts payable and accrued liabilities           1,457               623
 Warrant liability                                  3,660               1,706
 Liability of Uruguay discontinued operation        551                 529
 Total current liabilities                          5,668               2,858

 Total liabilities                                  5,668               2,858

 Equity
 Share capital                                      91,769              74,675
 Share-based payments reserve                       11,455              10,931
 Warrants                                           16                  436
 Currency translation reserve                       (1,457)             (2,159)
 Accumulated deficit                                (83,852)            (77,258)
 Total equity attributable to owners of the parent  17,931              6,625
 Non-controlling interest                           -                   6
 Total equity                                       17,931              6,631
 Total liabilities and equity                       23,599              9,489

 

 

 Condensed Interim Consolidated Statements of (Loss) Income and Comprehensive
 (Loss)
 (Expressed in thousands of United States dollars)
 (Except common shares and per share amounts)
 Unaudited
                                                                Nine Months Ended                                            Nine Months Ended

                                                                February 28, 2026                                            February 28, 2025

                                                                $                                                            $

 Corporate and administrative expenses                          (2,068)                                                      (1,384)
 Exploration expenses                                           (179)                                                        (181)
 Share-based compensation                                       (1,002)                                                      (311)
 Other income                                                   14                                                           52
 Net finance cost                                               (49)                                                         (11)
 Loss on fair value of warrants                                 (3,182)                                                      -
 Foreign exchange (loss) gain                                   (90)                                                         89
 Net loss for the period for continuing operations              (6,556)                                                      (1,746)
 Income (loss) from discontinued operations                                                 (38)                                                      2,841
 Net (loss) income for the period                               (6,594)                                                      1,095
 Item which may be subsequently reclassified to income (loss):
 Cumulative translation adjustment                              702                                                          (343)
 Total comprehensive (loss) income for the period               (5,892)                                                      752

 Basic and diluted net income (loss) per share for
 - continuing operations                                        (0.02)                                                       (0.01)
 - discontinued operations                                                               (0.00)                                                       0.01
 Weighted average number of common shares outstanding           357,557,726                                                  228,999,586

 

 

 

 

 Condensed Interim Consolidated Statements of Cash Flows
 (Expressed in thousands of United States dollars)
 Unaudited                                                                   Nine Months Ended   Nine Months Ended

                                                                             February 28, 2026   February 28, 2025

                                                                             $                   $

 Operating activities
 Net (loss) income for the period for continued and discontinued operations  (6,594)             1,095
 Adjustments for
 Depreciation                                                                16                  16
 Share-based payments                                                        1,002               311
 Reversed liability and interest accrued                                     -                   (2,376)
 Loss on fair value of warrants                                              3,182
 Foreign exchange and other                                                  774                 (606)
 Changes in non-cash working capital items:
 Accounts receivable and other assets                                        (578)               (8)
 Accounts payable and accrued liabilities                                    850                 (203)
 Net cash used in operating activities                                       (1,348)             (1,771)

 Investing activities
 Purchase of property and equipment                                          (175)               -
 Exploration and evaluation expenditures                                     (4,682)             (729)
 Net cash used in investing activities                                       (4,857)             (729)

 Financing activities
 Proceeds from issue of common shares, net of shares issuance cost           13,137              2,376
 Proceeds from exercise of options                                           315                 10
 Proceeds from exercise of warrants                                          2,774               1,008
 Warrant liability exercised                                                 (1,228)             -
 Net cash provided by financing activities                                   14,968              3,394
 Net change in cash                                                          8,763               894
 Net change in cash classified within assets held for sale                   10                  133
 Cash, beginning of period                                                   4,877               1,328
 Cash end of period                                                          13,650              2,355

 Operating activities
 - continuing operations                                                     (1,334)             758
 - discontinued operations                                                   (14)                (2,509)
 Investing activities
 - continuing operations                                                     (4,857)             (729)
 Financing activities
 - continuing operations                                                     14,964              3,394
 - discontinued operations                                                   4                   -

 

 

 

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

 

Orosur Mining Inc

Louis Castro, Executive Chairman,

Brad George, CEO

info@orosur.ca

Tel: +1 (778) 373-0100

 

SP Angel Corporate Finance LLP - Nomad & Joint Broker

 Jen Clarke /Caroline Rowe/ Devik Mehta

Tel: +44 (0) 20 3470 0470

 

Turner Pope Investments (TPI) Ltd - Joint Broker

Andy Thacker/Guy McDougall

Tel: +44 (0)20 3657 0050

 

Flagstaff Communications and Investor Communications

Tim Thompson

Allison Allfrey

Mark Edwards

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 Orosur Mining Inc.

Orosur Mining Inc. (TSXV: OMI; AIM: OMI) is a minerals explorer and developer
currently operating in Colombia and Argentina.

 

Qualified Persons Statement

The information in this news release was compiled, reviewed, verified and
approved 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.

 

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

 

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 continuing 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, those
described in the Section "Risks Factors" of the Company's MD&A for the
year ended May 31, 2025. The Company's continuance as a going concern is
dependent upon its ability to obtain adequate financing. This material
uncertainty 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. 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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