SRL.V · 2021-02-24 12:00:00

Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted BY 9.14% Copper Equivalent over 22.06 Metres

Drill Results

Date:

News Release:

Ticker Symbols:

February 24, 2021

21-05

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

– 1 of 7 –

ADVENTUS AND SALAZAR ANNOUNCE DRILLING RESULTS AT THE EL DOMO DEPOSIT

HIGHLIGHTED BY 9.14% COPPER EQUIVALENT OVER 22.06 METRES

Toronto, February 24, 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 continued 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 continues

at El Domo with two diamond drill rigs having completed 36 infill definition drill holes totaling 3,908 metres

from the planned 4,960 metres, and one drill hole in progress totaling a further 35 metres completed and the

other drill rig moving to a new platform.

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

• CURI-355 intersected 22.06 metres of 3.61% copper, 3.06 g/t gold, 7.86% zinc, 90.1 g/t silver and 0.22%

lead for 9. 14% CuEq – including 2.92 metres of 17.93% copper, 6.52 g/t gold, 42.72% zinc, 287.5 g/t

silver, and 0.03% lead for 39.12% CuEq

• CURI-354 intersected 8.33 metres of 4.77% copper, 7.14 g/t gold, 25.79% zinc, 91.5 g/t silver, and 0.73%

lead for 19.01% CuEq – including 5.26 metres of 6.74% copper, 10.92 g/t gold, 34.66% zinc, 135.2 g/t

silver and 1.15% lead for 26.91% CuEq

• CURI-352 intersected 21.09 metres of 3.32% copper, 2.66 g/t gold, 0.42% zinc, 19.9 g/t silver, and 0.07%

lead for 5.41% CuEq. – including 5.09 metres of 7.58% copper, 2.50 g/t gold, 1.38% zinc, 33.0 g/t silver

and 0.22% lead for 10.05% CuEq

Christian Kargl-Simard, President and CEO of Adventus, commented: “We are making excellent progress on the

drilling required for the El Domo feasibility study and environmental and social impact assessment process, with

six drill rigs currently active . We expect this drilling to be completed in March, which supports our project

development timeline for El Domo. These drill results continue to confirm the quality of the mineral resource

model, ahead of estimating maiden mineral reserves at El Domo as part of the feasibility study expected in the

fourth quarter of 2021.”

Drill hole CURI-352 intersected fine-grained sediments in the immediate hanging wall of the massive sulphide

from 47.18 to 48.21 metres, grading 1.40% copper, 1.49 g/t gold, 0.71 % zinc, 26.3 g/t silver, and 0.07% lead

(2.89% CuEq). Massive sulphide mineralization was intersected from 48.21 to 69.30 metres, grading 3.32%

copper, 2.66 g/t gold, 0.42% zinc, 19.9 g/t silver and 0.07 % lead ( 5.41% CuEq). A higher-grade subset occurs

from 48.21 to 53.30 metres, grading 7.58% copper, 2.50 g/t gold, 1.38% zinc, 33.0 g/t silver, and 0. 22% lead

(10.05% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-352 47.18 48.21 1.03 1.40 1.49 0.71 26.3 0.07 2.89 0.88

48.21 69.30 21.09 3.32 2.66 0.42 19.9 0.07 5.41 17.93

Including 48.21 53.30 5.09 7.58 2.50 1.38 33.0 0.22 10.05 4.33

Including 48.21 49.20 0.99 5.83 5.89 5.87 118.8 1.07 13.05 0.84

Date:

News Release:

Ticker Symbols:

February 24, 2021

21-05

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

– 2 of 7 –

(1) Metal equivalency based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn, US$27.18/oz Ag and US$0.97/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 February 19, 2021.

CURI-353 intersected well-mineralized grainstone with massive sulphide clasts in the immediate hanging wall of

the massive sulphide from 68.45 to 79.87 metres, however, it was intruded by a barren basaltic dyke. The upper

intercept in the grainstone occurred from 68.45 to 70.47 metres, grading 1.92% copper, 4.66 g/t gold, 2.50%

zinc, 71.5 g/t silver, and 0.33% lead (6.57% CuEq), which was followed by a second intercept that occurred from

75.46 to 79.87 metres grading, 0.64% copper, 3.61 g/t gold, 6.43% zinc, 148.3 g/t silver, and 0.70% lead (6.12%

CuEq). A subset of higher -grade grainstone occurs at the base of the unit from 78.90 to 79.87 metres, grading

0.44% copper, 10.70 g/t gold, 22.48% zinc, 510.0 g/t silver, and 1.99% lead (20.40% CuEq). The massive sulphide

mineralization was broken up by faulting and intercalated strong gypsum alteration replacing felsic volcaniclastic

rocks. The first intercept of mas sive sulphide mineralization was from 79.87 to 80.87 metres, grading 0.68%

copper, 6.68 g/t gold, 12.90% zinc, 110.9 g/t silver, and 0.2 7% lead ( 10.46% CuEq). The second intercept of

massive sulphide mineralization was from 90.80 to 93.00 metres, grading 3.07% copper, 1.26 g/t gold, 2.48%

zinc, 47.3 g/t silver and 0.03% lead (5.19% CuEq). The third and final intercept of massive sulphide mineralization

was from 100.48 to 102.40 metres, grading 1.47% copper, 1.62 g/t gold, 2.29% zinc, 49.4 g/t silve r, and 0.03%

lead (3.78% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-353 68.45 70.47 2.02 1.92 4.66 2.50 71.5 0.33 6.57 1.31

75.46 79.87 4.41 0.64 3.61 6.43 148.3 0.70 6.12 2.87

Including 78.90 79.87 0.97 0.44 10.70 22.48 510.0 1.99 20.40 0.63

79.87 80.87 1.00 0.68 6.68 12.90 110.9 0.27 10.46 0.65

90.80 93.00 2.20 3.07 1.26 2.48 47.3 0.03 5.19 1.43

100.48 102.40 1.92 1.47 1.62 2.29 49.4 0.03 3.78 1.25

(1) Metal equivalency based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn, US$27.18/oz Ag and US$0.97/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 February 19, 2021.

CURI-354 intersected two massive sulphide horizons below a narrow section of mineralized fine-grained

sediments in the immediate hanging wall of the massive sulphide mineralization . The sediments were

intersected from 49.04 to 49.95 metres, grading 0. 14% copper, 1.31 g/t gold, 0. 86% zinc, 34.7 g/t silver, and

0.16% lead (1.66% CuEq). The first occurrence of massive sulphide mineralization was intersected from 49.95 to

56.04 metres, grading 3.33% copper, 2.66 g/t gold, 4.21% zinc, 38. 1 g/t silver and 0. 06% lead (6.84% CuEq). A

subset of higher -grade massive sulphide mineralization was intersected from 49.95 to 51.26 metres, grading

7.31% copper, 5.25 g/t gold, 8.36% zinc, 109.8 g/t silver, and 0.21% lead (14.63% CuEq). The second occurrence

of massive sulphide mineralization was intersected from 63.00 to 71.33 metres, grading 4.77% copper, 7.14 g/t

gold, 25.79% zinc, 91.5 g/t silver, and 0.73% lead ( 19.01% CuEq). A subset of higher -grade massive sulphide

mineralization was intersected from 63.00 to 68.26 metres, grading 6.74% copper, 10.92 g/t gold, 34.66% zinc,

135.2 g/t silver, and 1.15% lead (26.91% CuEq).

Date:

News Release:

Ticker Symbols:

February 24, 2021

21-05

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

– 3 of 7 –

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-354 49.04 49.95 0.91 0.14 1.31 0.86 34.7 0.16 1.66 0.73

49.95 56.04 6.09 3.33 2.66 4.21 38.1 0.06 6.84 4.87

Including 49.95 51.26 1.31 7.31 5.25 8.36 109.8 0.21 14.63 1.05

63.00 71.33 8.33 4.77 7.14 25.79 91.5 0.73 19.01 6.66

Including 63.00 68.26 5.26 6.74 10.92 34.66 135.2 1.15 26.91 4.21

(1) Metal equivalency based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn, US$27.18/oz Ag and US$0.97/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 February 19, 2021.

CURI-355 intersected mineralized grainstone with massive sulphide clasts in the hanging wall of the massive

sulphide mineralization from 53.15 to 54.13 metres, grading 0.35% copper, 0.34 g/t gold, 0.48% zinc, 10.9 g/t

silver, and 0.01% lead (0.8 4% CuEq) . Massive sulphide mineralization was intersected from 55.67 to 77.73

metres, grading 3.61% copper, 3.06 g/t gold, 7.86% zinc, 90. 1 g/t silver, and 0. 22% lead ( 9.14% CuEq). Two

subsets of higher-grade massive sulphide mineralization were intersected from 55.67 to 57.57 metres, grading

8.98% copper, 18.89 g/t gold, 15.48% zinc, 401.5 g/t silver, and 1.07% lead (30.67% CuEq); and 68.75 to 71.67

metres, grading 17.93% copper, 6.52 g/t gold, 42.72% zinc, 287.5 g/t silver, and 0.03 % lead (39.12% CuEq). In

the footwall of the massive sulphide mineralization , a very strongly altered and replaced unit of gypsum was

intersected from 77.73 to 78.70 metres, grading 3.48% copper, 2.64 g/t gold, 8.10% zinc, and 58.7 g/t silver

(8.45% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-355 53.15 54.13 0.98 0.35 0.34 0.48 10.9 0.01 0.84 0.83

55.67 77.73 22.06 3.61 3.06 7.86 90.1 0.22 9.14 18.75

Including 55.67 57.57 1.90 8.98 18.89 15.48 401.5 1.07 30.67 1.62

Including 68.75 71.67 2.92 17.93 6.52 42.72 287.5 0.03 39.12 2.48

77.73 78.70 0.97 3.48 2.64 8.10 58.7 0.00 8.45 0.82

(1) Metal equivalency based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn, US$27.18/oz Ag and US$0.97/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 February 19, 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 four drill hole results 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.

Date:

News Release:

Ticker Symbols:

February 24, 2021

21-05

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

– 4 of 7 –

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 facility in Lima, Peru for

analysis. All assay data have undergone internal validation of QAQC; noting t here 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.

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, 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 Sa lazar 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, Sala zar 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 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

Date:

News Release:

Ticker Symbols:

February 24, 2021

21-05

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

– 5 of 7 –

phrases or statements that certain actions, events or results “may”, “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 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 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:

February 24, 2021

21-05

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

– 6 of 7 –

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

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT

CURI-379 695094 9855482 940 167 -48 N/A In Progress

CURI-378 695054 9855122 893 181 -57 N/A In Progress

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 Successfully completed per design

CURI-364 695134 9855402 946 108 -60 130.4 Successfully completed per design

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:

February 24, 2021

21-05

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

– 7 of 7 –

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

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