SRL.V · 2023-02-27 12:00:00

Adventus and Salazar Announce Additional El Domo Underground Deposit Drilling Results Including 21 Metres of 6.03% Copper Equivalent

Drill Results

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 1 of 6 –

ADVENTUS AND SALAZAR ANNOUNCE ADDITIONAL EL DOMO UNDERGROUND DEPOSIT DRILLING RESULTS

INCLUDING 21 METRES OF 6.03% COPPER EQUIVALENT

Toronto, February 27, 2023 – Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN, OTCQX: ADVZF) and Salazar

Resources Limited (“Salazar”) (TSX-V: SRL , OTCQB: SRLZF ) (collectively the “ Partners”) are pleased to announce the

additional infill drilling results from the underground portion of the El Domo volcanogenic massive sulphide deposit (“El

Domo”) located within the 21,537-hectare Curipamba project in central Ecuador.

Highlights – Drill Results from the El Domo Deposit at Curipamba:

• CURI-408 intersected 21.00 metres 4.43% copper, 3.40 g/t gold, 2.28% zinc, 36.1 g/t silver, and 0. 01% lead for

6.03% copper equivalent (“CuEq”) – including 14.35 metres, grading 5.74% copper, 4.24 g/t gold, 2.43% zinc, and

40.5 g/t silver and 0.01% lead for 7.54% CuEq

• CURI-409 intersected 5.27 metres of 3.99% copper, 0.80 g/t gold, 0.20% zinc, 10.2 g/t silver, and 0.0 1% lead for

4.70% CuEq

• CURI-411 intersected 6.18 metres of 3.40% copper, 2.35 g/t gold, 3.67% zinc, 133.6 g/t silver and 0.58% lead for

5.82% copper CuEq – including 1.85 metres of 8.20% copper, 2.68 g/t gold, 5.25% zinc, 260.8 g/t silver, and

0.99% lead for 11.35% CuEq

Drill hole CURI -406 intersected a thick section of semi -massive to massive sulphide from 192.87 to 204.27 metres with

an intercept from 192.87 to 202.74 metres, grading 1.25% copper, 0. 86 g/t gold, 1.22% zinc, 20.4 g/t silver, and 0. 09%

lead. Two higher-grade subsets of the intercept w ere intersected from 192.87 to 194.14 metres, grading 3.39% copper,

2.05 g/t gold, 3.15% zinc, 116.6 g/t silver, and 0. 58% lead, and from 199.47 to 201.68 metres, grading 1.90% copper,

0.81 g/t gold, 2.51% zinc, 11.8 g/t silver, and 0.04% lead.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%) (1) (2)

Approx. True

Thickness (m)

CURI-406 192.87 202.74 2.36 1.25 0.86 1.22 20.4 0.09 1.92 1.77

including 192.87 194.14 1.27 3.39 2.05 3.15 116.6 0.58 5.44 0.95

including 203.37 201.68 0.90 1.90 0.81 2.51 11.8 0.04 2.82 0.68

(1) Metal equivalency based on US$ 4.00/lb Cu, US$ 1,886.20/oz Au, US$1.36 /lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6 -month contracts

for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.

(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26,

2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

CURI-408 intersected a wide section of low -grade, pyritic, semi-massive from 184.42 to 190.65 metres, but transitioned

into a 21- metre intercept from 190.65 to 211.65 of semi -massive to massive sulphide, grading 4.43% copper, 3.40 g/t

gold, 2.28% zinc, 36.1 g/t silver and 0.0 1% lead. A higher-grade subset was intersected from 196.34 to 210.69 metres,

grading 5.74% copper, 4.24 g/t gold, 2.43% zinc, and 40.5 g/t silver and 0.01% lead.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%)(1) (2)

Approx. True

Thickness (m)

CURI-408 190.65 211.65 21.00 4.43 3.40 2.28 36.1 0.01 6.03 15.75

including 196.34 210.69 14.35 5.74 4.24 2.43 40.5 0.01 7.54 10.76

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 2 of 6 –

(1) Metal equivalency based on US$ 4.00/lb Cu, US$ 1,886.20/oz Au, US$1.36 /lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6 -month contracts

for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.

(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgica l data from Feasibility Study filed on SEDAR, effective data October 26,

2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

Drill hole CURI -409 intersected massive sulphide mineralizat ion from 206.80 to 212.07 metres, grading 3.99% copper,

0.80 g/t gold, 0.20% zinc, 10.2 g/t silver, and 0. 01% lead. Low-grade mineralization does continue into the footwall

alteration below the massive sulphide mineralization, but it is predominantly pyrite intercalated with gypsum alteration.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%) (1) (2)

Approx. True

Thickness (m)

CURI-409 206.80 212.07 5.27 3.99 0.80 0.20 10.2 0.01 4.70 4.48

(1) Metal equivalency based on US$ 4.00/lb Cu, US$ 1,886.20/oz Au, US$1.36 /lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6 -month contracts

for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.

(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgica l data from Feasibility Study filed on SEDAR, effective data October 26,

2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

Drill hole CURI -410 intersected semi-massive sulphide mineralization from 227.55 to 232.73 metres with only a narrow

intercept from 230.33 to 231.02 metres, grading 1.34% copper, 0.32 g/t gold, 0.04% zinc, 6.2 g/t silver, and 0. 02% lead.

Mineralization continued deeper into the footwall volcanic rocks and gypsum alteration zone from 240.74 to 244.16

metres, grading 1.18% copper, 0.08 g/t gold, 1.24% zinc, and 2.8 g/t silver.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%)(1) (2)

Approx. True

Thickness (m)

CURI-410 230.33 231.02 0.69 1.34 0.32 0.04 6.2 0.02 1.12 0.48

240.74 244.16 3.42 1.18 0.08 1.24 2.8 0.00 1.46 0.63

(1) Metal equivalency based on US$ 4.00/lb Cu, US$ 1,886.20/oz Au, US$1.36 /lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6 -month contracts

for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.

(2) Metal equivalency adjusted for metal recoveries based on detailed metallu rgical data from Feasibility Study filed on SEDAR, effective data October 26,

2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

Drill hole CURI-411 intersected semi-massive to massive sulphide mineralization from 122.02 to 128.20 metres, grading

3.40% copper, 2. 35 g/t gold, 3.67% zinc, 133.6 g/t silver, and 0.58 % lead. A higher-grade section occurs from 122.66 to

125.63 metres, grading 5.08% copper, 4.12 g/t gold, 6.58% zinc, 236.4 g/t silver, and 1.13% lead.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%)(1) (2)

Approx. True

Thickness (m)

CURI-411 122.02 128.20 6.18 3.40 2.35 3.67 133.6 0.58 5.82 4.64

Including 122.66 125.63 2.97 5.80 4.12 6.58 236.4 1.13 10.15 2.23

including 123.78 125.63 1.85 8.20 2.68 5.25 260.8 0.99 11.35 1.39

(1) Metal equivalency based on US$ 4.00/lb Cu, US$ 1,886.20/oz Au, US$1.36 /lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6 -month contracts

for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.

(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgica l data from Feasibility Study filed on SEDAR, effective data October 26,

2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 3 of 6 –

Drill hole CURI-407 was designed to test the outer margins of the Indicated category material along a fault and to further

assess the underground development geology. This drill hole confirmed modelling previously done in this portion of the

deposit and provides additional geological control for future modelling and engineering studies. CURI-407 did not yield

any substantial results but did intersect wide mineralization in the footwall volcanic rocks and alteration zone.

All results from the i nfill drilling program are to be used in updating the underground portion of the Mineral Resource

estimate for El Domo in 202 3, which will be part of a future feasibility study that will integrate the development a

potential underground operation in addition to the planned open pit (see August 29, 2022 news release ). Figure 1

illustrates the drill locations for the results of the five drill hole s outlined in this news release. Drill collar location

coordinates are summarized for the infill drilling program in Table 1 at the end of this news release.

For reference, the last Mineral Resource estimate completed in accordance with NI 43 -101 for El Domo was published as

part of the Feasibility Study report titled : “NI 43 -101 Technical Report, Feasibility Study, Curipamba El Domo Project ,

Central Ecuador”, with an effective date of October 26, 2021 on SEDAR.

Other – Resignation of Vice President Exploration

Christian Kargl -Simard, President and CEO of Adventus , announces the resignation of Jason Dunning, P.Geo, Vice

President of Exploration to be effective at the end of February 2023 to move onto other opportunities for his family. Mr.

Dunning will remain as a non-Executive Technical Advisor to facilitate transitional matters such as knowledge transfer to

key members of the Exploration Team . Christian Kargl-Simard stated, "Jason has been an utmost professional during his

time at Adventus. I am thrilled for Jason on his next chapter in his life. Jason will continue to advise us as we embark on

our next exploration program."

Jason Dunning noted, “I am very proud to have been given the opportunity by Adventus five and a half years ago to work

on such a great copper and gold asset in Ecuador. It truly has been a wonderful opportunity and it has been my pleasure

helping to advance Curipamba project in Ecuador with our partners at Salazar Resources Ltd. There is no doubt in my

mind that the El Domo VMS deposit will become the next copper and gold producer in Ecuador. Although it saddens me

to be leaving Adventus, I look forward to reading about the team’s continuing successes in the coming years. I would like

to thank all of my peers at Adventus and all the staff in Ecuador for their hard work and support over the last five and a

half years in building Adventus."

Technical Information and QAQC

The Curipamba project work program is being managed and reviewed by Vice President Exploration, Jason Dunning,

M.Sc., P.Geo., a Qualified Person within the meaning of NI 43 -101. Salazar staff collect and process samples that are

securely sealed and shipped to Bureau Veritas (“BV”) in Quito for sample preparation that includes crushing and milling

to prepare pulps that are then split for shipment to their faci lity in Vancouver, Canada for analysis. All assay data have

undergone internal validation of QAQC; noting there is an established sampling control program with blind insertion of

assay blanks, certified industry standards and sample duplicates for the Curi pamba project. A QAQC program is also in

place at BV and includes insertion of blanks, standards, and duplicate reanalysis of selected samples. BV’s quality system

complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. At BV, samples

from regional drilling have silver and base metals analyzed by a modified ore grade 24-element aqua regia technique

with ICP-ES finish. Gold is analyzed by fire assay fusion with AAS finish. Overlimit protocols are in place for gold, silver,

copper, lead, and zinc.

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 4 of 6 –

Qualified Person

The technical information of this news release has been reviewed and verified as accurate by Mr. Jason Dunning, M.Sc.,

P.Geo., Vice President Exploration for Adventus, a non-Independent Qualified Person, as defined by NI 43-101.

About Adventus

Adventus Mining Corporation is an Ecuador -focused copper -gold exploration and development company. Adventus

Mining is majority owner of the 215 sq. km Curipamba copper -gold project, which has a completed feasibility study on

the shallow and high -grade El Domo deposit. In addition, Adventus Mining is engaged in a country -wide exploration

alliance in Ecuador, whic h has incorporated the Pijili and Santiago copper -gold porphyry projects to date. Outside of

Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Limited as the funding

participant. Its strategic shareholders include Altiu s Minerals Corporation, Greenstone Resources LP, Wheaton Precious

Metals Corp., and the Nobis Group of Ecuador. Adventus Mining is based in Toronto, Canada, and is listed on the TSX

Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.

About Salazar

Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and

development in Ecuador. The team has an unrivalled understanding of the geology in -country and has played an integral

role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper

mines. Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a strategy

to make another commercial discovery and farm -out non-core assets. The Company actively engages with Ecuadorian

communities and together with the Salazar family it co -founded The Salazar Foundation, an independent non -profit

organization dedicated to sustainable progress thro ugh economic development. The Company already has carried

interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through

to production. At two copper -gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried

through to a construction decision.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this news release.

This press release contains "forward - looking information" within the meaning of applicable Canadian securities laws. Forward -looking statements

are based on the beliefs, expectations, and opinions of the manag ement of the Participants as of the date the statement is published, and the

Participants assume no obligation to update any forward -looking statement, except as required by law. In certain cases, forward –looking

statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts",

"intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "cou ld",

"would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.

Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that Adventus

Mining and Salazar expect or anticipate will or may occur in the future. Although Adventus Mining and Salazar have attempted to identify

important factors that could cause actual actions, events, or results to differ materially from those des cribed in forward-looking information, there

may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. There can be no assurance that such

information will prove to be accurate, and actual results and futu re events could differ materially from those anticipated in such information.

Accordingly, readers should not place undue reliance on forward -looking information. Adventus Mining and Salazar undertake to update any

forward-looking information except in accordance with applicable securities laws.

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 5 of 6 –

For further information from Adventus Mining, please contact Christian Kargl -Simard, President and Chief Executive

Officer, at +1-416-230-3440 or [email protected]. Please also visit the Adventus Mining website at

www.adventusmining.com.

For further information from Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President, at +1 604

685 9316 or [email protected]. Please also visit the Salazar Resources website at

www.salazarresources.com.

Table 1: Drill Collar Information for Infill Drill Holes at El Domo

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT

CURI-419 695494 9855286 1027 296 -70 230.10 Successfully completed per design

CURI-418 695459 9855361 1017 303 -78 224.95 Successfully completed per design

CURI-417 695494 9855286 1027 151 -70 269.40 Successfully completed per design

CURI-416 695494 9855286 1027 180 -73 262.80 Successfully completed per design

CURI-415 695459 9855361 1017 317 -66 245.85 Successfully completed per design

CURI-414 695440 9855274 1028 164 -73 221.30 Successfully completed per design

CURI-413 695454 9855407 1025 165 -75 237.60 Successfully completed per design

CURI-412 695440 9855274 1028 203 -75 269.40 Successfully completed per design

CURI-411 695177 9855005 929 69 -69 176.00 Successfully completed per design

CURI-410 695440 9855274 1028 210 -65 314.30 Successfully completed per design

CURI-409 695400 9855298 1017 301 -71 264.25 Successfully completed per design

CURI-408 695400 9855298 1017 127 -69 243.60 Successfully completed per design

CURI-407 695431 9855413 1007 12 -62 203.00 Successfully completed per design

CURI-406 695269 9855341 1000 270 -78 221.15 Successfully completed per design

CURI-405 695431 9855413 1007 317 -69 247.60 Successfully completed per design

CURI-404 695309 9855341 1000 210 -67 286.90 Successfully completed per design

CURI-403 695181 9855413 1007 331 -62 257.15 Successfully completed per design

CURI-402 695400 9855298 1017 239 -79 245.30 Successfully completed per design

CURI-401 695375 9855400 996 238 -73 224.00 Successfully completed per design

CURI-400 695400 9855298 1017 237 -67 284.10 Successfully completed per design

CURI-399 695375 9855400 996 41 -65 212.25 Successfully completed per design

CURI-398 695400 9855298 1017 196 -71 272.00 Successfully completed per design

CURI-397 695271 9855452 985 178 -81 208.80 Successfully completed per design

CURI-396 695394 9855668 957 252 -68 179.45 Successfully completed per design

CURI-395 695349 9855650 972 151 -64 211.50 Successfully completed per design

CURI-394 695436 9855590 980 241 -73 216.30 Successfully completed per design

CURI-393 695394 9855668 957 159 -72 96.00 Successfully completed per design

CURI-392 695395 9855600 994 122 -65 224.95 Successfully completed per design

Notes:

(1) All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)

Date:

News Release:

Ticker Symbols:

February 27, 2023

23-06

ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)

– 6 of 6 –

Figure 1: Drill Collar Location Map for El Domo

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