SRL.V · 2021-06-15 12:00:00

Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted BY 26.8% Copper Equivalent over 9.1 Metres

Drill Results

Date:

News Release:

Ticker Symbols:

June 15, 2021

21-16

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

– 1 of 6 –

ADVENTUS AND SALAZAR ANNOUNCE DRILLING RESULTS AT THE EL DOMO DEPOSIT

HIGHLIGHTED BY 26.8% COPPER EQUIVALENT OVER 9.1 METRES

Toronto, June 1 5, 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 its final

infill drilling results from the El Domo volcanogenic massive sulphide deposit (“El Domo”) located within the 21,537-

hectare Curipamba project in central Ecuador. All results from the completed infill definition drilling program are being

used to update the Mineral Resource estimate for El Domo, which will serve as the basis of the ongoing El Domo feasibility

study with completion expected in the fourth quarter of 2021.

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

• CURI-385 intersected 9.06 metres of 3.25% copper, 19.08 g/t gold, 30.56% zinc, 242.5 g/t silver, and 3.19% lead

for 26.78% CuEq – including 3.48 metres of 2.37% copper, 35.13 g/t gold, 39.51% zinc, 470.7 g/t silver, and 7.50%

lead for 41.22% CuEq

• CURI-382 intersected 30.86 metres of 2.05% copper, 0.92 g/t gold, 0.16% zinc, 9.2 g/t silver, and 0.02% lead for

2.74% copper equivalent (“ CuEq”) – including 3.81 metres of 6.56% copper, 1.48 g/t gold, 0.07% zinc, 13.4 g/t

silver, and 0.02% lead for 7.60% CuEq

Drill hole CURI-382 intersected a thick section of massive sulphide from 92.95 to 123.81 metres, grading 2.05% copper,

0.92 g/t gold, 0.16% zinc, 9.2 g/t silver, and 0.02 % lead (2.74% CuEq). Two higher-grade subsets were intersected from

92.95 to 96.69 and 120.00 to 123.81 metres, respectively. The first interval graded 3.77% copper, 1.60 g/t gold, 0.47%

zinc, 21.7 g/t silver, and 0.08% lead (5.08% CuEq) and the second interval graded 6.56% coper, 1.48 g/t gold, 0.07% zinc,

14.1 g/t silver, and 0.02% lead (7.60% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-382 92.95 123.81 30.86 2.05 0.92 0.16 9.2 0.02 2.74 27.77

including 92.95 96.69 3.74 3.77 1.60 0.47 21.7 0.08 5.08 3.37

including 92.95 93.90 0.95 9.13 3.67 1.36 66.8 0.29 12.40 0.86

including 120.00 123.81 3.81 6.56 1.48 0.07 13.4 0.02 7.60 3.43

including 122.00 122.96 0.96 10.79 1.01 0.05 14.1 0.02 11.55 0.86

(1) Metal equivalency based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02 /oz Ag and US$1.00/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 June 11, 2021.

CURI-384 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive

sulphide mineralization, grading 0.06% copper, 0.62 g/t gold, 0.56% zinc, 50.3 g/t silver and 0.24% lead (1.1 0% CuEq). A

thin interval of massive sulphide mineralization was intersected from 86.93 to 87.54 metres, grading 1.46% copper, 25.90

g/t gold, 21.76% zinc, 686.0 g/t silver and 9.32% lead (31.76% CuEq). A section of mineralized footwall felsic autoclastic

volcanic rocks was intersected from 87.54 to 95.60 metres, grading 0.13% copper, 0.28 g/t gold, 1.29% zinc, and 12.1 g/t

silver and 0.12% lead (0.82% CuEq).

Date:

News Release:

Ticker Symbols:

June 15, 2021

21-16

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-384 86.00 86.93 0.93 0.06 0.62 0.56 50.3 0.24 1.10 0.74

86.93 87.54 0.61 1.46 25.90 21.76 686.0 9.32 31.76 0.49

87.54 95.60 8.06 0.13 0.28 1.29 12.1 0.12 0.82 6.49

(1) Metal equivalency based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02 /oz Ag and US$1.00/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 June 11, 2021.

Drill hole CURI-385 intersected mineralized fine-grained sediments in the immediate hanging wall of the massive sulphide

mineralization from 85.85 to 90.48 metres, grading 0.07% copper, 1.40 g/t gold, 0.75% zinc, 27.3 g/t silver, and 0.10% lead

(1.41% CuEq). Massive sulphide mineralization was intersected from 90.48 to 99.54 metres, grading 3.25% copper, 19.08

g/t gold, 30.56% zinc, 242.5 g/t silver, and 3.19% lead ( 26.78% CuEq). A higher-grade subsection occurs from 90.48 to

93.96 metres, grading 2.37% copper, 35.13 g/t gold, 39.51% zinc, 470.7 g/t silver and 7.50% lead (41.22% CuEq). A section

of mineralized footwall felsic autoclastic volcanic rocks was intersected from 99.54 to 106.47 metres, grading 0.13%

copper, 0.40 g/t gold, 1.25% zinc, and 4.8 g/t silver and 0.02% lead (0.79% CuEq).

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

CuEq (1)

(%)

Approx. True

Thickness (m)

CURI-385 85.85 90.48 4.63 0.07 1.40 0.78 27.3 0.10 1.41 4.40

90.48 99.54 9.06 3.25 19.08 30.56 242.5 3.19 26.78 8.61

including 90.48 93.96 3.48 2.37 35.13 39.51 470.7 7.50 41.22 3.31

99.54 106.47 6.93 0.13 0.40 1.25 4.8 0.02 0.79 6.58

(1) Metal equivalency based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02 /oz Ag and US$1.00/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 June 11, 2021.

Drill holes CURI -386, CURI-387, and CURI-389 were designed were designed to test the outer margins of the Indicated

category material and to further assess the pit wall geology. These drill holes confirmed modelling previously done along

the margins of the deposit and provide excellent geological control for future modelling studies. Both CURI-386 and CURI-

387 intersected low-grade sections of footwall mineralized felsic autoclastic volcanic rocks 73.06 to 82.49 and 80.60 to

85.40 metres, respectively. CURI-386 graded 0.13% copper, 0.78 g/t gold, 0.30% zinc, 17.3 g/t silver and 0.09% lead (0.86%

CuEq) for an approximate true thickness of 6.13 metres and CURI-387 graded 0.02% copper, 0.30 g/t gold, 0.13% zinc,

10.4 g/t silver and 0.03% lead (0.34% CuEq) for an approximate true thickness of 4.56 metres. CURI-389 did not yield any

significant results.

All results from the completed infill definition drilling program are being used to update the Mineral Resource estimate

for El Domo, which will serve as the basis of the ongoing feasibility study for the development of El Domo (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.

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 Mineral Resource estimate completed in accordance with NI 43-101 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:

June 15, 2021

21-16

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

– 3 of 6 –

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 proc ess 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 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, samples from

the El Domo infill drilling have gold 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. For regional drilling, silver and base metals are

analyzed by a 45 -element 4 acid technique with ICP -MS 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 port folio in Ireland with South32 Limited as funding partner as well as an investment

portfolio of equities in several exploration companies. Adventus 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 through economic development. The Company already has carried interests in three

projects. At its maiden discovery, Curipamba, Salazar Re sources 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.

Date:

News Release:

Ticker Symbols:

June 15, 2021

21-16

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

– 4 of 6 –

Neither the TSX Venture Exchange nor its Regulation Se rvices 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 phrases 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 “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, statements t hat 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 t o 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:

June 15, 2021

21-16

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:

June 15, 2021

21-16

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

– 6 of 6 –

Figure 1: Drill Collar Location Map for Drill El Domo

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