Euro Sun Mining Settles Convertible Security Funding Agreement IN Full

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EURO SUN MINING SETTLES CONVERTIBLE SECURITY FUNDING AGREEMENT IN

FULL

October 3, 2023

Toronto, Ontario

Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “ Company”) announces that it has agreed

to settle the outstanding portion of the convertible security funding agreement (the “CFSA”) with

Lind Global Fund II, LP (“Lind”) in full.

The outstanding amounts under the CFSA will be settled from proceeds received through the

recent net smelter return (“ NSR”) royalty arrangement recently negotiated (see press release

dated August 28, 2023) . This achievement honours the commitment made by the Company to

Lind and, sets another milestone on the evolution of the Rovina Valley Project (the “Project”) to

deliver critical European minerals and Romanian economic development.

Euro Sun once again takes this opportunity to formally thank Lind for their valued support as the

Project continues on a positive trajectory.

NSR Agreement

The Company also announces that it has amended and restated NSR agreement to provide for a

1% (from 0.5%) net smelter return royalty on all copper produced at the Project upon the exercise

of the Company’s NSR sale right, in exchange for an increased initial payment of C$2.625 million.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of

its 100%-owned Rovina Valley gold and copper project located in west -central Romania, which hosts the

second largest gold deposit in Europe.

Further information:

For further information about Euro Sun Mining, or the contents of this press release, please contact

Investor Relations at [email protected]

Caution regarding forward-looking information:

This press release contains "forward -looking information" within the meaning of applicable Canadian

securities legislation. Forward-looking information includes, without limitation, statements regarding the

repayment of the Lind convertible security funding agreement; Europe’s energy transition and demand for

energy metals; environmental impact of the Project; and development of the Project. Forward-looking

information is subject to known and unknown risks, uncertainties and other factors that may cause the

actual results, level of activity, performance or achievements of the Company to be materially different

from those expressed or implied by such forward-looking information, including risks inherent in the mining

industry and risks described in the public disclosure of the Company which is available under the profile of

the Company on SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com.

Although the Company has attempted to identify important factors that could cause actual results to differ

materially from those contained in forward -looking information, there may be other factors that cause

results not to be as anticipated, estimated or intended. There can be no assurance that such information

will prove to be accurate, as actual results and future events could differ materially from those anticipated

in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

The Company does not undertake to update any forward -looking information, except in accordance with

applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.