Orosur Mining Inc - Colombia update
Orosur Mining Inc - Colombia update
• Exploration funds received in Colombia.
• Field planning underway - drilling planned to commence in November.
London, October 12th, 2020 . Orosur Mining Inc. ("Orosur" or the "Company")
(TSX/AIM:OMI), announces that its 100% owned Colombian subsidiary, Minera Anzá S.A
("Minera Anzá") has received from Minera Monte Águila SAS ("Monte Águila") the sum of
COP$2.52 billion Colombian Pesos (approximately US$650,000) as a first payment to fund
exploration a t the Anzá project for the 12 month period commencing 7 September 2020.
Monte Águila is the new name for Newmont Colombia SAS which is owned 50-50 by Newmont
and Agnico.
Field planning underway
Prior to receipt of these funds, Minera Anzá and Monte Aguil a staff had been developing
detailed exploration plans for the re -commencement of field work at Anzá once restrictions
and risks associated with the Covid-19 pandemic had subsided sufficiently to allow operations
to safely resume.
These plans are now being formally implemented.
• Covid-19 protocols related to movement and testing of staff are complete.
• Refurbishment and expansion of the camp is near completion.
• Additional technical staff are being recruited.
• Necessary community and government notifications have been made and required
permit applications submitted.
• Importation of geophysical equipment should commence soon.
• Advanced discussions with drill contractors are underway.
Commencement of active exploration is still subject to the ebb and flow of the local Covid-19
situation; however, if current positive trends continue, it is hoped that geophysical surveys
and drilling should be underway by early November 2020.
Orosur CEO Brad George commented:
"Clearly the Covid-19 pandemic is presenting challenges to remote exploration that were not
expected at the start of the year. However, the operating protocols that we have established
are allowing our diligent and professional staff to plan and implement as near to a full
exploration program as could be achieved under these trying circumstances."
For further information, 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 / Caroline Rowe
Tel: +44 (0) 20 3 470 0470
Flagstaff Communications
Tim Thompson
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 Regulation ("MAR "). Upon the publication of this announcement via
Regulatory Information Service, this inside information is now considered to be in the public domain.
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.
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 securi ties laws, including but not limited to the "safe harbour"
provisions of the United States 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 exploration plans in Colombia and the funding from
Monte Águila of those plans, Monte Águila´s decision to continue with the Exploration and Option agreement, the
ability for Loryser to continue and finalize with the remediation in Uruguay, the ability to implement the Creditors'
Agreement successfully as well as continuation of the business of the Company as a going concern and other
events or conditions that may occur in the future. The Company's continuance as a goi ng concern is dependent
upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory
implementation of the Creditor´s Agreement in Uruguay. These material uncertainties 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. There can be
no assurance that 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, those as describe d in Section "Risks Factors" of the MDA and the Annual
Information Form. 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.
For further information, please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jeff Keating / Caroline Rowe
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 Abus e Regulation ("MAR"). Upon the publication of this announcement via
Regulatory Information Service, this inside information is now considered to be in the public domain.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious met als developer and explorer focused on identifying and
advancing gold projects in South America. The Company operates in Colombia and Uruguay.
Forward Looking Statements
All statements, other than statements of historical fact, contained in this news re lease constitute "forward looking
statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour"
provisions of the United States 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 exploration plans in Colombia and the funding from
Newmont of those plans, Newmont´s decision to continue with the Exploration and O ption agreement, the ability
for Loryser to continue and finalize with the remediation in Uruguay, the ability to implement the Creditors'
Agreement successfully as well as continuation of the business of the Company as a going concern and other
events or conditions that may occur in the future. The Company's continuance as a going concern is dependent
upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory
implementation of the Creditor´s Agreemen t in Uruguay. These material uncertainties 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 ap plicable to a going concern. There can be
no assurance that 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 signi ficant risks and
uncertainties including, but not limited, those as described in Section "Risks Factors" of the MDA and the Annual
Information Form. 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.