Orosur Mining Inc Announces Closing of Private Placement for C$16 Million

LONDON, UK / ACCESS Newswire / October 6, 2026 / Orosur Mining Inc. ("Orosur" or the "Company") (TSX-V/AIM:OMI) is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for aggregate gross proceeds of C$16,000,000, which includes gross proceeds of C$2,000,000 through the full exercise of the agent's option. Pursuant to the Offering, the Company sold 50,000,000 units of the Company (the "Units") at a price of C$0.32 per Unit (being approximately GBP £0.17 at an exchange rate of £0.53:C$1.00).

Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share (each, a "Warrant Share", and the Warrant Shares underlying the Warrants together with the Common Shares to be referred to as the "Underlying Securities") at a price of US$0.32 (being approximately C$0.46 and approximately GBP £0.24) for a period of 24 months following closing of the Offering.

The Company intends to use the net proceeds of the Offering, which should fund the Company into late 2027, principally to advance the Company's Anzá exploration project in Colombia as well as for general working capital and corporate purposes.

Red Cloud Securities Inc. ("Red Cloud") acted as sole agent and bookrunner in connection with the Offering. In consideration for its services, Red Cloud received a cash commission of C$520,000. Turner Pope Investments (TPI) Ltd and Greenwood Capital Partners Limited (collectively, the "U.K. Brokers") acted as brokers in connection with a portion of the Offering in the United Kingdom. In consideration of their services, the U.K. Brokers received aggregate cash commissions and fees of £239,760 (equivalent to approximately C$451,600).

26,562,500 Units (the "Exempt Units") were issued in accordance with Part 5A.2 of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, or pursuant to OSC Rule 72-503 - Distributions Outside of Canada. The Underlying Securities from the sale of the Exempt Units are not subject to a hold period under Canadian securities legislation.