Adventus and Salazar Announce Drilling Results at the El Domo Deposit, Curipamba Project Highlighted BY 3.26% Copper Equivalent over 42.52 Metres
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 1 of 6 –
ADVENTUS AND SALAZAR ANNOUNCE DRILLING RESULTS AT THE EL DOMO DEPOSIT, CURIPAMBA PROJECT
HIGHLIGHTED BY 3.26% COPPER EQUIVALENT OVER 42.52 METRES
Toronto, April 14, 2021 – 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 additional infill drilling results from the El Domo volcanogenic massive sulphide deposit located within
the 21,537-hectare Curipamba project in central Ecuador.
Highlights – Drill Results from the El Domo Deposit at Curipamba:
• CURI-369 intersected 42.52 metres of 1.46% copper, 2.43 g/t gold, 0.48% zinc, 13.7 g/t silver, and 0.05%
lead for 3.26% copper equivalent (“CuEq”) – including 5.29 metres of 7.92% copper, 12.95 g/t gold, 2.98%
zinc, 60.4 g/t silver, and 0.22% lead for 17.53% CuEq
• CURI-368 intersected 2.93 metres of 6.42% copper, 6.36 g/t gold, 30.18% zinc, 168.4 g/t silver, and 0.86%
lead for 21.59% CuEq
• CURI-370 intersected 2.74 metres of 2. 26% copper, 21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and
2.03% lead for 31.45% CuEq
Drill hole CURI -366 intersected semi-massive to m assive sulphide mineralization from 54.40 to 55.76 metres,
grading 5.20% copper, 8.03 g/t gold, 13.85% zinc, 426.5 g/t silver and 1.89 % lead (18.82% CuEq). A section of
mineralized footwall felsic autoclastic volcanic rocks was intersected from 55.76 to 57.73 metres, grading 0.28%
copper, 0.69 g/t gold, 0.94% zinc, 21.9 g/t silver, and 0.12% lead (1.23% CuEq).
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq (1)
(%)
Approx. True
Thickness (m)
CURI-366 54.40 55.76 1.36 5.20 8.03 13.85 426.5 1.89 18.82 0.95
55.76 57.73 1.97 0.28 0.69 0.94 21.9 0.12 1.23 1.38
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery. Prices taken from 6 -month contracts for precious metals and 3 -month contracts for base metals
from the London Metal Exchange, dated April 6, 2021.
CURI-367 intersected a narrow section of semi-massive to massive sulphide mineralization from 81.20 to 83.92
metres, grading 0.09% copper, 1.19 g/t gold, 1.22% zinc, 133.5 g/t silver and 0.64% lead (2.56% CuEq). A section
of mineralized footwall felsic aut oclastic volcanic rocks was intersected from 83.92 to 91.95 metres, grading
0.08% copper, 0.28 g/t gold, 0.81% zinc, 17.9 g/t silver, and 0.48% lead (0.78% CuEq).
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq (1)
(%)
Approx. True
Thickness (m)
CURI-367 81.20 83.92 2.72 0.09 1.19 1.22 133.5 0.64 2.56 1.77
83.92 91.95 8.03 0.08 0.28 0.81 17.9 0.48 0.78 5.22
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery. Prices taken from 6 -month contracts for precious metals and 3 -month contracts for base metals
from the London Metal Exchange, dated April 6, 2021.
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 2 of 6 –
CURI-368 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the
massive sulphide from 79.45 to 81.54 metres, grading 0.07% copper, 0.14 g/t gold, 0.20% zinc, 5.1 g/t silver, and
0.03% lead (0.27% CuEq). A mineralized fine-grained sediment unit occurred directly in the hanging wall of the
massive sulphide mineralization from 8 1.54 to 83.19 metres, grading 0.30% copper, 9.75 g/t gold, 3.54% zinc,
144.1 g/t silver and 1.31% lead (9.09% CuEq). The m assive sulphide mineralization was intersected from 83.19
to 86.12 metres, grading 6.4 2% copper, 6.36 g/t gold, 30.18% zinc, 168.4 g/t silver, and 0. 86% lead ( 21.59%
CuEq). A section of mineralized footwall fels ic autoclastic volcanic rocks was intersected from 86.12 to 88.12
metres, grading 0.39% copper, 0.29 g/t gold, 0.83% zinc, 17.7 g/t silver, and 0.08% lead (1.01% CuEq).
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq (1)
(%)
Approx. True
Thickness (m)
CURI-368 79.45 81.54 2.09 0.07 0.14 0.20 5.1 0.03 0.27 1.67
81.54 83.19 1.65 0.30 9.75 3.54 144.1 1.31 9.09 1.32
83.19 86.12 2.93 6.42 6.36 30.18 168.4 0.86 21.59 2.34
86.12 88.12 2.00 0.39 0.29 0.83 17.7 0.08 1.01 1.60
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery. Prices taken from 6 -month contracts for precious metals and 3 -month contracts for base metals
from the London Metal Exchange, dated April 6, 2021.
CURI-369 was an attempted re-drill of CURI-364, however, it was also terminated in the same fault zone. It
intersected mineralized grainstone in the han ging wall of the massive sulphide mineralization from 10 6.00 to
107.11 metres, grading 0.46% copper, 1.66 g/t gold, 0.59% zinc, 11.2 g/t silver and 0.0 6% lead ( 1.80% CuEq).
Massive sulphide mineralization was intersected from 107.11 to 149.63 metres, grading 1.46% copper, 2.43 g/t
gold, 0.48% zinc, 13.7 g/t silver and 0.05 % lead ( 3.26% CuEq) . A higher -grade subset occurs from 107.11 to
112.40 metres, grading 7.92% copper, 12.95 g/t gold, 2.98% zinc, 60.4 g/t silver and 0.22% lead (17.53% CuEq).
A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 149.63 to 153.51 metres,
grading 0.10% copper, 0.36 g/t gold, 0.03% zinc, and 9.6 g/t silver (0.42% CuEq).
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq (1)
(%)
Approx. True
Thickness (m)
CURI-369 106.00 107.11 1.11 0.46 1.66 0.59 11.2 0.06 1.80 0.83
107.11 149.63 42.52 1.46 2.43 0.48 13.7 0.05 3.26 31.89
including 107.11 112.40 5.29 7.92 12.95 2.98 60.4 0.22 17.53 3.97
149.63 153.51 3.88 0.10 0.36 0.03 9.6 0.00 0.42 2.91
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3 -month contracts for base metals
from the London Metal Exchange, dated April 6, 2021.
CURI-370 intersected mineralized grainstone in the hanging wall of the massive sulphide mineralization from
55.52 to 58.07 metres, grading 0.04% copper, 0.85 g/t gold, 2.65% zinc, 68.7 g/t silver, and 1.02% lead (2.24%
CuEq). Massive sulphide mineralization was intersected from 59.50 to 62.24 metres, grading 2.26% copper,
21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and 2.03% lead (31.45% CuEq). Two sections of mineralized footwall
felsic autoclastic volcanic rocks were intersected from 62.24 to 65.50 metres and 79.65 to 82.54 metres. The
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 3 of 6 –
first intercept graded 0.16% copper, 0.54 g/t gold, 1.16% zinc, and 16.2 g/t silver, and 0.06% lead (1.03% CuEq)
and the second intercept graded 1.13% copper, 0.08 g/t gold, 0.05% zinc, and 3.6 g/t silver (1.23% CuEq).
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq (1)
(%)
Approx. True
Thickness (m)
CURI-370 55.52 58.07 2.55 0.04 0.85 2.65 68.7 1.02 2.24 1.66
59.50 62.24 2.74 2.26 21.59 36.64 414.8 2.03 31.45 1.78
62.24 65.50 3.26 0.16 0.54 1.16 16.2 0.06 1.03 2.12
79.65 82.54 2.89 1.13 0.08 0.05 3.6 0.00 1.23 1.88
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery. Prices taken from 6 -month contracts for precious metals and 3 -month contracts for base metals
from the London Metal Exchange, dated April 6, 2021.
All results from the current infill definition drilling program will be used to update the Mineral Resource estimate
for the El Domo deposit in 2021. The updated Mineral Resource estimate will be part of the ongoing feasibility
study for the development of the El Domo deposit (see December 2, 2020 news release). Figure 1 illustrates the
drill locations for the results of the five drill holes outlined in this news release and the holes curr ently in the
assay lab, or in progress. Drill collar location coordinates are summarized for the infill and geomechanical drilling
programs in Table 1 at the end of this news release.
For reference, the last NI 43-101 Mineral Resource estimate for El Domo was published as part of the preliminary
economic assessment report titled: “Technical Report on the Preliminary Economic Assessment for the
Curipamba Project – El Domo Deposit, Central Ecuador”, with an effective date of June 14, 2019 on SEDAR.
Technical Information and Quality Control & Quality Assurance (“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 fac ility in Lima, Peru or
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 Curipamba 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, gold is analyzed by
classic fire assay techniques with an AAS finish, while silver and base metals are analyzed by a 44-element aqua
regia technique with ICP-AES finish. Overlimit protocols are in place for gold, silver, copper, lead, and zinc.
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.
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 4 of 6 –
About Adventus
Adventus Mining Corporation is an Ecuador focused copper -gold exploration and development company. Its strategic shareholders
include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador.
Adventus is advancing the El Domo copper-gold project through a feasibility study, while exploring the broader Curipamba district. In
addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and
Santiago copper-gold porphyry projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 Limited
as funding partner as well as an investment portfolio of equities in several exploration companies. Adventus i s 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, explor ation, 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. Salaz ar 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 Sa lazar fami ly it co -founded The
Salazar Foundation, an independent non- profit organization dedicated to sustainable progress through economic development. The
Company already has carried interests in three projects. At its maiden discovery, Curipamba, Sala zar Resources has a 25% stake fully
carried through to production. At two copper -gold porphyry projects, Pijil i and Santiago, the Company has a 20% stake fully carried
through to a construction decision.
Neither the TSX Venture Exchange nor its Regulatio n 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. Any statements
that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assum ptions or
future events or performance (often, but not always, identified by words or phr ases such as “believes”, “anticipates”, “expects”, “is
expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and
phrases or statements that certain actions, events or results “ma y”, “could”, “would”, “will”, “should” “might”, “will be taken”, or
“occur” and similar expressions) are not statements of historical fact and may be forward -looking statements.
Forward-looking information herein includes, but is not limited to, statemen ts that ad dress activities, events, or developments that
Adventus and Salazar expect or anticipate will or may occur in the future. Although Adventus and Salazar have attempted to identify
important factors that could cause actual actions, events, or resul ts to diff er materially from those described 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 future events could differ materially from
those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus
and Salazar undertake to update any forward-looking information except in accordance with applicable securities laws.
For further information from Adventus, please contact Christian Kargl- Simard, President and Chief Executive
Officer, at + 1-416-230-3440 or [email protected]. Please also visit the Adventus website at
www.adventusmining.com and LinkedIn page at https://www.linkedin.com/company/adventus-mining-
corporation.
For further information from Salazar, please contact [email protected].
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 5 of 6 –
Table 1: Drill Collar Information for Infill Drill Holes at El Domo
Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT
CURI-391 655001 9854898 882 165 -65 70.6 Successfully completed per design
CURI-390 695109 9855451 953 170 -79 137.7 Successfully completed per design
CURI-389 694999 9855351 908 338 -70 64.5 Successfully completed per design
CURI-388 695051 9855474 930 165 -50.6 143.0 Successfully completed per design
CURI-387 695051 9855474 930 26 -49 112.3 Successfully completed per design
CURI-386 695100 9855600 943 230 -65 90.2 Successfully completed per design
CURI-385 695094 9855482 940 45 -54 128.0 Successfully completed per design
CURI-384 695054 9855642 923 136 -54 110.6 Successfully completed per design
CURI-383(1) 695373 9855400 995 270 -65 210.4 Successfully completed per design
CURI-382 695094 9855482 940 64 -48 156.5 Successfully completed per design
CURI-381 695214 9855602 949 197 -57 154.4 Successfully completed per design
CURI-380(1) 695375 9855000 1030 270 -70 250.1 Successfully completed per design
CURI-379 695094 9855482 940 167 -48 153.8 Successfully completed per design
CURI-378 695054 9855122 893 181 -57 113.1 Successfully completed per design
CURI-377 695054 9855122 893 55 -51 92.3 Successfully completed per design
CURI-376(1) 695361 9855100 1087 270 -70 275.4 Successfully completed per design
CURI-375(1) 695333 9855200 1057 270 -75 250.1 Successfully completed per design
CURI-374 695006 9855134 883 296 -45 120.6 Successfully completed per design
CURI-373 695094 9855482 940 103 -48 197.0 Successfully completed per design
CURI-372 695041 9854913 888 38 -45 106.3 Successfully completed per design
CURI-371(1) 695399 9855298 1016 270 -65 225.7 Successfully completed per design
CURI-370 695040 9854913 888 231 -74 86.2 Successfully completed per design
CURI-369 695094 9855482 940 142 -48 168.7 Successfully completed per design
CURI-368 695041 9854913 888 331 -58 113.6 Successfully completed per design
CURI-367 695006 9855134 883 196 -45 102.2 Successfully completed per design
CURI-366 694975 9854918 872 186 -72 74.5 Successfully completed per design
CURI-365 694934 9855242 874 151 -72 69.5 Successfully completed per design
CURI-364-A 695131 9855402 946 108 -60 121.8 Successful but lost in fault zone
CURI-364 695134 9855402 946 108 -60 130.4 Successful but lost in fault zone
CURI-363 694934 9855242 874 180 -54 95.0 Successfully completed per design
CURI-362 694975 9854918 872 288 -61 88.9 Successfully completed per design
CURI-361 695134 9855402 946 75 -54 172.8 Successfully completed per design
CURI-360 694934 9855242 874 25 -48 83.0 Successfully completed per design
CURI-359 695006 9855134 883 349 -69 86.5 Successfully completed per design
CURI-358 694934 9855082 867 255 -54 113.0 Successfully completed per design
CURI-357 695057 9855149 894 229 -74 105.0 Successfully completed per design
CURI-356 695006 9855134 883 241 -77 110.6 Successfully completed per design
CURI-355 695057 9855149 894 36 -45 86.3 Successfully completed per design
CURI-354 695057 9855149 894 55 -54 81.0 Successfully completed per design
CURI-353 695094 9855122 908 192 -45 97.4 Successfully completed per design
CURI-352 695057 9855149 894 306 -77 78.0 Successfully completed per design
CURI-351 695057 9855149 894 338 -59 77.0 Successfully completed per design
CURI-350 695094 9855122 908 180 -57 85.7 Successfully completed per design
CURI-349 695094 9855122 908 263 -51 130.2 Successfully completed per design
CURI-348 695094 9855082 910 276 -45 135.1 Successfully completed per design
CURI-347 695094 9855082 910 105 -54 91.0 Successfully completed per design
CURI-346 695094 9855082 910 52 -69 83.4 Successfully completed per design
CURI-345 695094 9855082 910 142 -48 95.7 Successfully completed per design
CURI-344 695094 9855082 910 360 -60 84.1 Successfully completed per design
CURI-343 695094 9855082 910 192 -45 142.0 Successfully completed per design
CURI-342 695041 9854913 888 346 -45 137.1 Successfully completed per design
CURI-341 695134 9854922 917 360 -60 117.4 Successfully completed per design
CURI-340 695134 9854922 917 360 -45 149.0 Successfully completed per design
Notes:
(1) Geomechanical drill hole for open pit engineering design purposes only; being drilled in addition to the Infill program
(2) All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)
Date:
News Release:
Ticker Symbols:
April 14, 2021
21-09
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 6 of 6 –
Figure 1: Drill Collar Location Map for Drill Holes at El Domo (April 13, 2021)