Orosur Mining Inc. – Colombia Update
Orosur Mining Inc. – Colombia Update
Medellín, Colombia, March 5, 2020. Orosur Mining Inc. (“Orosur” or “the Company”) (TSX/AIM: OMI), a South
American-focused gold developer and explorer, is pleased to announce that it has received a cash payment of
US$500,000 from Newmont Colombia S.A.S. (“Newmont”), a wholly owned subsidiary of Newmont Corporation,
in connection with maintaining its earn-in rights pursuant to the Exploration Agreement with Venture Option over
the Anzá project in Colombia (the “Exploration Agreement”).
As previously announced on September 10, 2018, the Exploration Agreement comprises a three-phase earn-in
structure, allowing Newmont to earn up to a 75% ownership interest in the Anzá project (“Anzá”) by making semi-
annual cash payments to Orosur equaling a total of US$4 million over Phases 1 and 2, spending a minimum of
US$30 million in qualifying expenditures over twelve years, and also completing N.I. 43-101 compliant pre-
feasibility and feasibility studies through the end of Phase 3.
In Phase 1, Newmont may earn a 51% ownership interest in Anzá by spending US$10 million in qualifying
expenditures over four years and making cash payments to Orosur equalling a total of US$2 million during the
first two years of the Phase 1 earn-in period. In accordance with the Phase 1 earn-in right, Newmont has made
three of four US$500,000 cash payments to Orosur and the fourth payment is expected in September 2020.
During the first two years of the Exploration Agreement (commencing September 2018), Newmont is committed
to spend a minimum of US$1 million per year on qualifying expenditures (“Minimum Work Commitment”), or pay
Orosur cash in lieu of completing said minimum work commitment, in order to maintain the Phase 1 earn-in right.
In years 3 and 4, the Minimum Work Commitment increases to US$4 million per year.
For further information, please contact:
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
Ryan Cohen, VP Corporate Development
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP – Nomad & Joint Broker
Jeff Keating / Stephen Wong
Tel: +44 (0) 20 3 470 0470
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated
under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service,
this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Ryan
Cohen, VP Corporate Development of the Company (responsible for arranging release of this announcement on behalf of the
Company) on: +1 (778) 373-0100.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and
advancing gold projects in South America. The Company operates in Colombia and Uruguay.