SRL.V · 2021-04-06 12:00:00

Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted BY 2.10% Copper Equivalent over 55.43 Metres

Drill Results

Date:

News Release:

Ticker Symbols:

April 6, 2021

21-07

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

– 1 of 6 –

ADVENTUS AND SALAZAR ANNOUNCE DRILLING RESULTS AT THE EL DOMO DEPOSIT

HIGHLIGHTED BY 2.10% COPPER EQUIVALENT OVER 55.43 METRES

Toronto, April 6, 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. Infill drilling for the ongoing feasibility study is completed

at El Domo for 53 infill definition drill holes totaling 5,348 metres.

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

• CURI-361 intersected 55.43 metres of 1.50% copper, 0.72 g/t gold, 0.27% zinc, 7.7 g/t silver, and 0.02%

lead for 2.10% copper equivalent (“CuEq”) – including 16.79 metres of 3.81% copper, 1.11 g/t gold, 0.41%

zinc, 10.5 g/t silver, and 0.02% lead for 4.72% CuEq

• CURI-364 intersected 14.94 metres of 6.49% copper, 1.64 g/t gold, 1.52% zinc, 35.5 g/t silver and 0.16%

lead for 8.34% CuEq – including 5.90 metres of 14.29% copper, 2.11 g/t gold, 1.95% zinc, 34.3 g/t silver,

and 0.16% lead for 16.54% CuEq

Drill hole CURI-361 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging

wall of the massive sulphide from 107.90 to 108.85 metres, grading 0. 22% copper, 0. 57 g/t gold, 0.62 % zinc,

10.8 g/t silver, and 0.05% lead (0.87% CuEq). A thick section of massive sulphide mineralization was intersected

from 108.85 to 164.28 metres, grading 1.50% copper, 0.72 g/t gold, 0.27% zinc, 7.7 g/t silver and 0.02% lead

(2.10% CuEq). A higher-grade subset occurs from 119.85 to 136.64 metres, grading 3.81% copper, 1.11 g/t gold,

0.41% zinc, 10.5 g/t silver, and 0.02% lead (4.72% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-361 107.90 108.85 0.95 0.22 0.57 0.62 10.8 0.05 0.87 0.81

108.85 164.28 55.43 1.50 0.72 0.27 7.7 0.02 2.10 47.12

Including 119.85 136.64 16.79 3.81 1.11 0.41 10.5 0.02 4.72 14.27

Including 132.26 135.79 3.53 7.50 2.05 0.05 11.1 0.01 8.87 3.00

(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/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 March 12, 2021.

CURI-362 intersected a narrow section of massive sulphide mineralization from 73.60 to 75.48 metres, grading

1.03% copper, 5.60 g/t gold, 18.08% zinc, 137.6 g/t silver, and 0.62% lead (11.51% CuEq). A section of low-grade,

mineralized felsic autoclastic volcanic rocks was intersected from 75.48 to 85.55 metres, grading 0.05% copper,

0.07 g/t gold, 0.53% zinc, 2.5 g/t silver, and 0.04% lead (0.29% CuEq).

Date:

News Release:

Ticker Symbols:

April 6, 2021

21-07

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

– 2 of 6 –

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-362 73.60 75.48 1.88 1.03 5.60 18.08 137.6 0.62 11.51 1.41

75.48 85.55 10.07 0.05 0.07 0.53 2.5 0.04 0.29 7.55

(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/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 an d 3-month contracts for base metals

from the London Metal Exchange, dated March 12, 2021.

CURI-364 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the

massive sulphide from 111.00 to 115.46 metres, grading 1.61% copper, 1.19 g/t gold, 0.85% zinc, 21.7 g/t silver,

and 0.13% lead (2.83% CuEq). Massive sulphide mineralization was intersected from 115.46 to 130.40 metres,

grading 6.49% copper, 1.64 g/t gold, 1.52% zinc, 35.5 g/t silver, and 0. 16% lead (8.34% CuEq). Two subsets of

higher-grade massive sulphide mineralization were intersected from 115.46 to 118. 24 metres and 124.50 to

130.40 metres. The first intercept graded 1.63% copper, 1.40 g/t gold, 1.62% zinc, 33.2 g/t silver, and 0.12 %

lead (3.33% CuEq), and the second intercept graded 14.29% copper, 2.11 g/t gold, 1.95% zinc, 34.3 g/t silver,

and 0.16% lead (16.54% CuEq). The drill hole was lost in a fault zone at 130.40 metres while still in mineralization

and did not reach targeted completion depth.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-364 111.00 115.46 4.46 1.61 1.19 0.85 21.7 0.13 2.83 3.57

115.46 130.40 14.94 6.49 1.64 1.52 35.5 0.16 8.34 11.95

Including 115.46 118.24 2.78 1.63 1.40 1.62 33.2 0.12 3.33 2.22

Including 124.50 130.40 5.90 14.29 2.11 1.95 34.3 0.16 16.54 4.72

(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/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 March 12, 2021.

CURI-364-A was an attempted re-drill of CURI-364, however, it was also terminated in the same fault zone. It

intersected mineralized grainstone in the hanging wall of the massive sulphide mineralization from 109.90 to

113.58 metres, grading 1.71% copper, 1.45 g/t gold, 1.13% zinc, 40.2 g/t silver and 0.09% lead (3.34% CuEq).

Massive sulphide mineralization was intersected from 113.58 to 114.75 metres, grading 1.62% copper, 2.78 g/t

gold, 10.24% zinc, 235.0 g/t silver and 1.45% lead (9.00% CuEq), but the dri ll hole re -entered mineralized

grainstone from 114.75 to 120.77 metres, grading 1.00% copper, 1.74 g/t gold, 1.48% zinc, 37.7 g/t silver and

0.16% lead (2.91% CuEq). The drill hole was lost in a fault zone at 121.80 metres while still in mineralization and

did not reach targeted completion depth.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-364-A 109.90 113.58 3.68 1.71 1.45 1.13 40.2 0.09 3.34 2.94

113.58 114.75 1.17 1.62 2.78 10.24 235.0 1.45 9.00 0.94

114.75 120.77 6.02 1.00 1.74 1.48 37.7 0.16 2.91 4.82

(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/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 March 12, 2021.

Date:

News Release:

Ticker Symbols:

April 6, 2021

21-07

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

– 3 of 6 –

Drill holes CURI-363 and CURI-365 were designed to test the outer margins of the Indicated category material

and to further assess the pit wall geology. Th ese drill hole s confirmed modelling previously done along the

margins of the deposit and provide excellent geological control for future modelling studies. Drill hole CURI-363

intersected a thick section of mineralization in the footwall felsic autoclastic volcanic rocks from 54.54 to 90.95

metres with two intervals providing low- grade intercepts. The first intercept was from 54.54 to 59.68 metres ,

grading 0.06% copper, 0.19 g/t gold, 0.81% zinc, 12.0 g/t silver, and 0.18% lead (0.57% CuEq) over 3.34 metres

approximate true thickness. The second intercept was from 69.62 to 84.89 metres, grading 0.05% copper, 0.02

g/t gold, 0.53% zinc, 0.8 g/t silver and 0.02% lead (0.24% CuEq) over 9.93 metres approximate true thickness.

Drill hole CURI-365 also intersected mineralization in the footwall felsic autoclastic volcanic rocks from 39.72 to

51.52 metres, grading 0.03% copper, 1.06 g/t gold, 0.34% zinc, 69.0 g/t silver, and 0.15% lead (1.45% CuEq) over

8.26 metres approximate true thickness. A high-grade subset occurs from 39.72 to 45.56 metres, grading 0.03%

copper, 1.61 g/t gold, 0.42% zinc, 119.8 g/t silver, and 0.17% lead (2.29% CuEq) over 4.09 metres approximate

true thickness.

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 six drill holes outlined in this news release and the holes currently 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 rev iewed 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 t hat

includes crushing and milling to prepare pulps that are then split for shipment to their facility in Lima, Peru 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 c omplies 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.

Date:

News Release:

Ticker Symbols:

April 6, 2021

21-07

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. 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 is based in Toro nto,

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 through economic development. The

Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stak e 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 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. Any statements

that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions o r

future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expec ts”, “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 “may”, “could”, “would”, “will”, “should” “might”, “w ill 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, statements that address 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 results to differ materially from those described in fo rward-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 co uld 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.

For further information from Salazar, please contact [email protected].

Date:

News Release:

Ticker Symbols:

April 6, 2021

21-07

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 6, 2021

21-07

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

– 6 of 6 –

Figure 1: Drill Collar Location Map for Drill Holes at El Domo

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