Orosur Mining Inc - Colombia
update
·
Approval received
from TSX.V for Anzá transaction
·
Progressing with
process of completion
London, October 17th 2024. Orosur Mining Inc.
("Orosur" or the
"Company") (TSXV/AIM:OMI) is pleased to announce
that further to its news release of September 10th,
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 10th 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, follow on X @orosurm or 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 & 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
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.