MINEROS AND ROYAL ROAD INTERSECT 303.7 METRES OF 1.1 GRAMS PER TONNE GOLD EQUIVALENT IN NEWLY DISCOVERED PORPHYRY COPPER-GOLD SYSTEM AT THE GUINTAR-NIVERENGO MARGARITAS EXPLORATION TARGET, COLOMBIA Includes 62.0 metres at 3.3 grams per tonne gold equivalent
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MINEROS AND ROYAL ROAD INTERSECT 303.7 METRES OF 1.1 GRAMS PER TONNE GOLD
EQUIVALENT IN NEWLY DISCOVERED PORPHYRY COPPER-GOLD SYSTEM AT THE
GUINTAR-NIVERENGO MARGARITAS EXPLORATION TARGET, COLOMBIA
Includes 62.0 metres at 3.3 grams per tonne gold equivalent
Medellin, Colombia – December 14, 2021 – Mineros S. A. (TSX:MSA, MINEROS:CB) (“ Mineros ” or the
“Company ”) is pleased to announce results from the first three drill holes of a follow-up drilling program
undertaken by the Company’s partner at the Guintar-Niverengo Margaritas Exploration Target (the “GNM
Exploration Target”) in Colombia.
The GNM Exploration Target is comprised of the cont iguous Guintar and Niverengo concessions (the
“Guintar Target Area” and “Niverengo Target Area”, respectively) and the neighboring Margaritas
concessions (the “Margaritas Target Area”), located in the Middle Cacua Metallogenic belt, within the
Anza mining district, approximately 50 kilometres w est of Medellin, Antioquia, Colombia. The GNM
Exploration Target was acquired by Royal Road Minerals (TSXV:RYR; “Royal Road”) through their purchase
of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited. The GNM Exploration
Target is subject to a strategic alliance agreement (the “Agreement”) between the Company and Royal
Road. Under the terms of the Agreement, Royal Road are operators and Mineros has earned a 25%
interest in the GNM Exploration Target by funding i nitial exploration expenditures of US$1 million.
Mineros may acquire a further 25% interest, bringing its interest to 50%, by paying a further US$1.5 million
to fund exploration expenditures. For further information on the Agreement see the final prospectus of
the Company dated November 11, 2021, available on SEDAR at www.sedar.com .
Andrés Restrepo, President and CEO of Mineros, comm ented “Although the exploration of the GNM
Exploration Target is in its early stages, the drill results from the Guintar Target Area announced today are
very promising. We look forward to continuing to up date the market on the results of our work with
partner Royal Road Minerals on this exciting new Colombian copper-gold porphyry target.”
The Company has received results from the first thr ee diamond drill holes at the Guintar Target Area.
Significant intercepts are presented in Table 1 and highlights include:
GUI-DD-011:
17.9 metres1 (“m”) of 0.9 grams per tonne gold (“g/t Au”), starting at a downhole depth of
99.7 m
GUI-DD-012:
303.7 m1 of 1.1 grams per tonne gold equivalent (“g/t AuEq”), starting at a downhole depth
of 17.0 m and continuing to the end of the hole, in cluding 62.0 m of 3.3 g/t AuEq, starting
at a downhole depth of 143.0 m
GUI-DD-013:
126.0 m1 of 1.4 g/t AuEq 2, starting at a downhole depth of 68.0 m, including 55.0 m of 2.6
g/t AuEq, starting at a downhole depth of 120.0 m, and
44.0 m1 of 1.1 g/t Au, starting at a downhole depth of 351.0 m
1 Not true width; sufficient information is not yet available to make a determination of the true widths of the drill hole
intersections.
2 Gold equivalent calculation based on USD $1790/ounce gold, USD $22/ounce silver and USD $4.30/pound copper.
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Drill hole GUI-DD-011 intersected gold mineralized basement rocks belonging to the early-Cretaceous
Barroso Formation with low-grade gold (entire drill hole returned 0.2 g/t Au over 400.56 m) disseminated
through the hornfels-altered sequence and higher gr ade intervals (9.8 g/t Au over 1.6 m) related to
lithological contacts and more porous conglomerate units. No porphyritic intrusive rocks were intercepted
in drill hole GUI-DD-011.
Drill hole GUI-DD-012 was collared in lower-grade, gold and copper mineralized mostly chloritic hornfels
to 93 m downhole depth, at which point the drill ho le passed into a porphyritic intrusive suite, strongly
altered with biotite alteration related to quartz-c halcopyrite-pyrrhotite mineralized stockwork veinlets
and albite related to chalcopyrite-pyrrhotite miner alized sheeted veinlets (Figure 1). Gold, copper an d
silver are related to both stockwork and sheeted ve inlet styles of mineralization. Not applying a cut off,
the entire drill hole GUI-DD-012 returned 320.7 m a t 1.1 g/t AuEq from surface. This intersection is t he
first indication of significant porphyry-style copper and gold mineralization on the Guintar Target Area.
Drill hole GUI-DD-013 was drilled below GUI-DD-012 (Figure 1) and intersected the biotite-altered
intrusive suite with associated mineralization at a down hole depth of 118.0 m. The entire drill hole
returned 588.3 m at 0.7 g/t AuEq. Deeper gold-only mineralization (44.0 m at 1.1 g/t Au from 351.0 m)
may be related to a more amphibole-rich intrusive suite.
Table 1. Significant Diamond Drill Results for GUI-DD-011 to GUI-DD-013.
Drill Easting Northing Elevation Dip Azimuth Depth From To Interval Au Ag Cu AuEq
Hole ID (m) (m) (m) (m) (m) (g/t) (g/t) (%) (g/t)
GUI-DD-011 391643 698953 2244 -75 180 400.6 8.0 18.0 10.0 1.0 4.4 1.1
99.7 117.6 17.9 0.9 1.9 0.9
238.9 242.0 3.2 1.3 2.4 1.3
291.7 296.1 4.4 0.9 1.7 0.9
GUI-DD-012 391870 698821 2185 -60 360 320.7 17.0 320.7 303.7 0.7 4.3 0.22 1.1
incl.
143.0 205.0 62.0 2.1 12.4 0.62 3.3
GUI-DD-013 391870 698821 2185 -80 360 588.3 68.0 194.0 126.0 0.8 5.5 0.34 1.4
incl.
120.0 175.0 55.0 1.5 10.8 0.60 2.6
311.0 314.0 3.0 2.4 2.4
351.0 395.0 44.0 1.1 2.1 1.1
441.0 447.0 6.0 1.0 1.0
510.5 516.5 6.0 1.2 3.9 1.3
The current drill campaign on the Guintar concessio n is planned to comprise approximately 5,000 m of
diamond drilling aimed at testing the deeper parts of the mineralized system. A total of 3,422 m in ni ne
diamond drill holes has been completed as of November 30, 2021.
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Figure 1. Geological map and cross section of diamond drill holes GUI-DD-11 to GUI-DD-13, Guintar Target
Area, Colombia (Source: Royal Road).
QUALIFIED PERSON
The scientific and technical information in this ne ws release has been reviewed and approved by Jorge
Aceituno, a Registered Member of the Chilean Mining Commission and the Planning Manager, Resources
and Reserves for Mineros. Mr. Aceituno is a qualified person within the meaning of National Instrument
43-101 Standards of Disclosure for Mineral Properties (“NI 43-101”).
QUALITY ASSURANCE AND QUALITY CONTROL
Royal Road employees working on the GNM Exploration Target are instructed to follow standard
operating and quality assurance procedures intended to ensure that all sampling techniques and sample
results meet international reporting standards.
Sample preparation and analyses are conducted according to standard industry procedures. Soil samples
are taken dry, sieved to -180 micron (80 mesh) and analyzed for gold by fire assay and ICP-AES and multi-
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elements by ICP-MS after aqua regia digestion. Analytical performance is monitored by means of certified
reference materials, fine blanks, and laboratory du plicate samples. Soil samples have been prepared in
ALS Chemex preparation lab in Colombia and analyses have been completed in ALS Chemex Lima, using
the PREP-41, Au-ICP 21 and ME-MS61 package.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and "forward-looking statements" (collectively,
"forward-looking information") within the meaning o f applicable securities laws. Forward-looking
information may relate to the Company's future fina ncial outlook and anticipated events or results and
may include information regarding the Company's financial position, business strategy, growth strategies,
addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives.
Particularly, information regarding the Company's e xpectations of future results, performance,
achievements, prospects or opportunities or the mar kets in which the Company operates is forward-
looking information. In some cases, forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "targets", "expects", "budgets", "scheduled", "estimates", "outlook",
"forecasts", "projects", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such
words and phrases or statements that certain actions, events or results "may", "could", "would", "might",
or "will" occur. In addition, any statements that r efer to expectations, intentions, projections or ot her
characterizations of future events or circumstances contain forward-looking information. Statements
containing forward-looking information are not hist orical facts but instead represent management's
expectations, estimates and projections regarding future events or circumstances. The forward-looking
information contained herein includes, without limi tation, statements with respect to the Company’s
option to acquire a further 25% interest in the GNM Exploration Target, future drilling at the GNM
Exploration Target, and the nature, location, and quality of potential gold mineralization at the GNM
Exploration Target.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions
that, while considered by the Company to be appropr iate and reasonable as of the date of this press
release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may
cause the actual results, level of activity, perfor mance or achievements to be materially different fr om
those expressed or implied by such forward-looking information. Such risks and uncertainties include, but
are not limited to, market conditions, the price of gold, currency fluctuations, and the factors discussed
under “Risk Factors” in the final prospectus of the Company dated November 11, 2021 (the “Final
Prospectus”), available on SEDAR at www.sedar.com .
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying
forward-looking information prove incorrect, actual results or future events might vary materially fro m
those anticipated in forward-looking information.
Although the Company has attempted to identify important risk factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other risk factors not
presently known to the Company or that the Company presently believes is not material that could also
cause actual results or future events to differ mat erially from those expressed in such forward-lookin g
information. 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 information. Accordingly, readers
should not place undue reliance on forward-looking information, which speaks only as of the date made.
Forward-looking information contained in this press release represents the Company's expectations as of
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the date of this press release (or as of the date they are otherwise stated to be made), and are subject to
change after such date. The Company disclaims any i ntention or obligation or undertaking to update or
revise any forward-looking information whether as a result of new information, future events or
otherwise, except as required under applicable securities laws.
ABOUT MINEROS S.A.
Mineros is a Latin American gold mining company hea dquartered in Medellin, Colombia. The Company
has a diversified asset base, with mines in Colombi a, Nicaragua and Argentina and a pipeline of
development and exploration projects throughout the region.
The board of directors and management of Mineros ha ve extensive experience in mining, corporate
development, finance and sustainability. Mineros has a long track record of maximizing shareholder value
and delivering solid annual dividends. For almost 5 0 years Mineros has operated with a focus on safety
and sustainability at all our operations.
Mineros’ common shares are listed on the Toronto Stock Exchange under the symbol “MSA”, and on the
Colombia Stock Exchange under the symbol “MINEROS”.
For further information, please contact:
Fiona Childe
Investor Relations
(647) 496-3011
Patricia Ospina
Investor Relations Manager
(+57) 42665757