London, 24th, October 2025 .
Results for First Quarter ended August 31, 2025
London, 24th, October 2025 . Orosur Mining Inc. ("Orosur" or "the Company") (TSX -V: OMI) (AIM:
OMI) announces its audited results for the first quarter ended August 31, 2025. All dollar figures are
stated in thousands of US$ unless otherwise noted. The unaudited condensed interim fi nancial
statements of the Company for the quarter ended August 31, 2025 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.
A link to the PDF version of the financial statements is available here: http://www.rns-
pdf.londonstockexchange.com/rns/6451E_2-2025-10-23.pdf
A link to the PDF version of the MD&A is available here : http://www.rns-
pdf.londonstockexchange.com/rns/6451E_1-2025-10-23.pdf
HIGHLIGHTS
Highlights for the three months ended August 31, 2025 include:
Operational
• In Colombia, on July 14, 2025, the Company announced that it had taken the formal decision
to begin a work program that, if successful, would allow a Mineral Resource Estimate to be
calculated at its Pepas gold prospect, within the Anzá gold project area in Colombia. The
decision was taken on the basis of external conceptual studies that suggest the location and
physical characteristics of the gold mineralisation so far defined at Pepas, in the context of
record high gold prices, may offer potential nearer term production opportunities. The in-fill
drilling program continued throughout the quarter and post the period end and may
be followed by a Mineral Resource Estimate and an evaluation of the economics for
production at Pepas. Thereafter the Company will return to wider exploration drilling, including
at APTA.
Earlier stage exploration continues at the El Cedro prospect. The El Cedro prospect is a large
gold porphyry system, located toward the south of the Anzá project, on the same granted
exploration licence as the Pepas and APTA deposits. The Company recommenced a large
ridge and spur soil sampling program at El Cedro that had been previously suspended due to
seasonal rain and access issues. This program has continued beyond the period end and is
now 90% complete.
• In Argentina, earlier this year the Company announced the successful completion of the first
phase of the two-phase exploration joint venture over the El Pantano gold project in Santa
Cruz province, Argentina ("Project" or "El Pantano"). This milestone marked a significant step
forward in the Company's strategic development of the Project. Having invested US$1m over
three years, the Company has now earned a direct 51% interest in the Argentine company,
Deseado Dorado S.A.S ("Deseado"), that owns the exploration licences that make up the
Project. The Company has now moved into the second phase of the JV, that will see it move
to 100% ownership of Deseado upon investment of an additional US$2m over two years.
Upon such an outcome, the original vendors would then retain a residual 2% NSR roy alty, 1%
of which the Company could repurchase at its election for US$1m. A geophysical campaign
was completed during the quarter with the objective of further refining targets at the Project
where drilling is expected to commence imminently with a 3,000 metre program of diamond
drilling.
• In Nigeria, given the continued weakness in the price of lithium and in view of the Company's
need to prioritise the use of its capital and human resources, a decision has been taken to
withdraw from the project which should happen over the next few weeks. The inves tment in
Nigeria was fully impaired in the Company's financial statements as at May 31, 2025.
Financial
• On August 31, 2025, the Company had a cash balance of $3,906 (May 31, 2025 $4,877). As at the
date of this MD&A and including the funds raised in the private placement (detailed below), the
Company had a cash balance of $17.2 million.
• Post period end, on September 18, 2025 the Company announced an upsized brokered private
placement (the "Placing") to raise gross proceeds of up to CAD$ 20 million through the issue of up
to 58,823,530 common shares at a price of CAD$0.34 per common share. The Placing, which was
over- subscribed, was completed on October 2 2025 and raised CAD$ 20 million. No warrants were
issued in connection with the Placing.
Outlook and Strategy
The Company will focus its investment in Colombia and Argentina whilst also looking for new
opportunities in South America.
In Colombia, within the Anza Project, the Company is looking to complete its in -fill drilling program at
Pepas which would allow Maiden Resource Estimate to be completed at Pepas. Thereafter the
Company will continue to investigate the possibility of a res ource estimate at its APTA prospect whilst
it refines its geological models around Pepas to identify possible target areas. At El Cedro, geological
mapping and sampling is nearing completion. Historical geophysics is being reprocessed and, if
warranted, new geophysical data will be acquired.
In Argentina, the Company will shortly commence a 3,000 metre drilling program at the El Pantano
project.
Condensed Interim Consolidated Statements of
Financial Position
(Expressed in thousands of United States dollars)
Unaudited
As at
Aug 31, 2025
$
As at
May 31, 2025
$
ASSETS
Current assets
Cash 3,906 4,877
Restricted cash 12 12
Accounts receivable and other assets 435 434
Assets of Uruguay discontinued operations 11 20
Total current assets 4,364 5,343
Non-current assets
Property and equipment 283 288
Exploration and evaluation assets 4,632 3,858
Total assets 9,279 9,489
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities 545 623
Warrant liability 1,785 1,706
Liabilities of Uruguay discontinued operations 564 529
Total current liabilities 2,894 2,858
Total liabilities 2,894 2,858
Deficit
Share capital 74,901 74,675
Share-based payments reserve 11,004 10,931
Warrants 384 436
Currency translation reserve (1,934) (2,159)
Accumulated deficit (77,976) (77,258)
Total equity attributable to owners of the parent 6,379 6,625
Non-controlling interest 6 6
Total equity 6,385 6,631
Total liabilities and equity 9,279 9,489
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Expressed in thousands of United States dollars)
(Except common shares and per share amounts)
Unaudited
Three
Months
Ended
August 31,
2025
$
Three Months
Ended
August 31,
2024
$
Corporate and administrative expenses (398) (435)
Exploration expenses (61) (76)
Share-based compensation (73) -
Other income 4 38
Net finance cost (4) (3)
Loss on fair value of warrants (79) -
Foreign exchange (loss) gain (74) 28
Net loss for the period for continuing operations (685) (448)
(Loss) income from discontinued operations (33) 169
Net loss for the period (718) (279)
Item which may be subsequently reclassified to profit or
loss:
Cumulative translation adjustment 225 (388)
Total comprehensive loss for the period (493) (667)
Basic and diluted net (loss) income per share for
- continuing operations (0.00) (0.00)
- discontinued operations (0.00) 0.00
Weighted average number of common shares
outstanding 314,235,630 193,211,503
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in thousands of United States dollars)
Unaudited Three
Months
Ended
August 31,
2025
$
Three Months
Ended
August 31,
2024
$
Operating activities
Net loss for the period for continued and discontinued
operations (718) (279)
Adjustments for
Depreciation 5 5
Share-based compensation 73 -
Loss on fair value of warrants 79 -
Foreign exchange and other (6) (47)
Changes in non-cash working capital items:
Accounts receivable and other assets (1) (10)
Accounts payable and accrued liabilities (32) (215)
Net cash used in operating activities (600) (546)
Investing activities
Exploration and evaluation expenditures (554) (85)
Net cash used in provided by investing activities (554) (85)
Financing activities
Proceeds from exercise of warrants 174 -
Net cash provided by financing activities 174 -
Net change in cash (980) (631)
Net change in cash classified within assets
discontinued operations 9 13
Cash, beginning of period 4,877 1,328
Cash end of period 3,906 710
Operating activities
- continuing operations (600) (533)
- discontinued operations - (13)
Investing activities
- continuing operations (554) (85)
Financing activities
- continuing operations 183 -
- discontinued operations (9) -
For further information, visit www.orosur.ca, follow on X @orosurm or please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Broker
Jeff Keating / Jen Clarke / Devik Mehta
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
[email protected] 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 (Withdrawa l) 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 d efined 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. Drill core is split in half
over widths that vary between 0.3m and 2m, dependi ng upon the geological domain. One half is kept
on site in the Minera Anzá core storage facility, with the other sent for assay.
Industry standard QAQC protocols are put in place with approximately 10% of total submitted samples
being blanks, repeats or Certified Reference Materials (CRMs). Samples for holes PEP -001 to PEP -
011 were sent to the Medellin preparation facility of ALS Co lombia Ltd, and then to the ISO 9001
certified ALS Chemex laboratory in Lima, Peru.
Samples from PEP-012 onwards are sent to Medellin laboratory of Actlabs for preparation and assay.
30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with
gravimetric re-finish for overlimit assays of >5 g/t. ICP-MS Ultra-Trace level multi -element four-acid
digest analyses may also undertaken for such elements as silver, copper, lead and zinc, etc.
Gold intersections are reported using a lower cut -off of 0.3g/t Au over 3m. Intersections are quoted as
downhole thicknesses. True thicknesses are unknown.
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 Stat es 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 tha t 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.