European Commission Reaches Political Agreement ON the Critical Raw Materials Act

1

EUROPEAN COMMISSION REACHES POLITICAL AGREEMENT ON THE CRITICAL

RAW MATERIALS ACT

November 14, 2023

Toronto, Ontario

Euro Sun Mining Inc., (TSX: ESM) (“ Euro Sun ” or the “ Company”) is pleased to

announce that the European Commission (the “ Commission”) has reached a political

agreement on the Critical Raw Materials Act (the “Act”). The Act represents a significant

milestone in ensuring the European Union’s (“ EU’s”) access to secure, diversified,

affordable and sustainable supply of critical raw materials , and in particular, Euro Sun is

pleased to announce that copper has been deemed both a strategic raw material and

critical raw material.

The Act seeks to increase domestic EU capacities for critical raw materials along the

supply chain by identifying strategic projects that would benefit more streamlined, faster

and more efficient permitting procedures as well as facilitated access to finance .

Furthermore, the Act specifies that the EU should have the capacity to extract 10%,

process 40%, and recycle 25% of its annual consumption of strategic raw materials by

2030. The Act will also require m onitoring of critical raw materials supply chains, and an

obligation for large companies to perform risk assessments of their supply chains.

The Act will now be submitted to the European Parliament and the Council for formal

approval. Commenting on the political agreement of the Act, Mr. Grant Sboros, Chief

Executive Officer of Euro Sun, said “We welcome the passing of the Act and applaud the

EU’s recognition of the importance of increasing domestic production of critical materials,

in particular copper. Euro Sun believes the Rovina Valley Project is a perfect candidate

for the Act given that it is situated in Romania and its sizable copper deposits. We look

forward to working with the government of Romania to streamline the permitting and

financing of the Rovina Valley Project under the Act.”

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 formal approval of the Act; acceptance of the Rovina Valley Project

as a strategic project under the act; adoption of the Act by the Romanian government and

anticipated benefits to permitting and financing of the Rovina Valley Project under the Act .

Forward-looking information is subject to known and unk nown 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 ris ks 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. Ac cordingly, 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.