SRL.V · 2022-11-15 12:00:00

Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground

Drill Results

Date:

News Release:

Ticker Symbols:

November 15, 2022

22-21

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

– 1 of 6 –

Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground

– Including 5.50 metres of 7.58% Copper Equivalent

Toronto, November 15, 2022 – Adventus Mining Corporation (“Adventus Mining”) (TSX-V: ADZN, OTCQX: ADVZF) and

Salazar Resources Limited (“Salazar”) (TSX-V: SRL, OTCQB: SRLZF ) (collectively the “ Participants”) 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. The infill drilling program

for the underground portion of the Mineral Resource at El Domo , as announced in the August 29, 2022 press release,

continues with two diamond drill rigs.

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

• CURI-400 intersected 5.50 metres of 6.00% copper, 0.38 g/t gold, 6.02% zinc, 15.2 g/t silver, and 0.01% lead for

7.58% copper equivalent (“CuEq”)

• CURI-399 intersected 3.79 metres of 5.72% copper, 4.25 g/t gold, 5.24% zinc, 100.4 g/t silver, and 0.26% lead for

9.02% CuEq – including 1.57 metres of 11.95% copper, 9.41 g/t gold, 12.45% zinc, 234.0 g/t silver, and 0.59% lead

for 19.84% CuEq

• CURI-397 intersected 3.12 metres of 0.48% copper, 5.07 g/t gold, 5.23% zinc, 164.1 g/t silver, and 1.99% lead for

6.29% copper equivalent CuEq – including 0.89 metres of 1.35% copper, 14.70 g/t gold, 17.40% zinc, 507.4 g/t

silver, and 6.74% lead for 19.47% CuEq

Drill hole CURI-397 intersected a thick section of lower-grade semi-massive sulphide from 185.10 to 199.15 metres with a

narrower section from 185.10 to 188.22 metres, grading 0.48% copper, 5.07 g/t gold, 5.23 % zinc, 164.1 g/t silver, and

1.99% lead. A higher-grade subset was intersected from 185.73 to 186.62, grading 1.35% copper, 14.70 g/t gold, 17.40%

zinc, 507.4 g/t silver, and 6.74% lead.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%) (1) (2)

Approx. True

Thickness (m)

CURI-397 185.10 188.22 3.12 0.48 5.07 5.23 164.1 1.99 6.29 2.34

including 185.73 186.62 0.89 1.35 14.70 17.40 507.4 6.74 19.47 0.67

(1) Metal equivalency based on US$3. 43/lb Cu, US$1,676/oz Au, US$1.32 /lb Zn, US$18.43/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 October 14, 2022.

(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-398 intersected semi-massive to massive sulphide mineralization from 197.26 to 210.87 metres, grading 1.98 %

copper, 1.28 g/t gold, 0.17 % zinc, 4.9 g/t silver and 0.0 1% lead. A higher-grade subset was intersected from 200.31 to

203.72 metres, grading 5.77% copper, 2.30 g/t gold, 0.55% zinc, and 8.6 g/t silver and 0.01% lead.

Date:

News Release:

Ticker Symbols:

November 15, 2022

22-21

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

– 2 of 6 –

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%)(1) (2)

Approx. True

Thickness (m)

CURI-398 197.26 210.87 13.61 1.98 1.28 0.17 4.9 0.01 1.75 8.85

including 198.02 206.43 8.41 3.15 1.65 0.23 6.3 0.01 2.73 5.47

including 200.31 203.72 3.41 5.77 2.30 0.55 8.6 0.01 4.94 2.22

(1) Metal equivalency based on US$3. 43/lb Cu, US$1,676/oz Au, US$1.32 /lb Zn, US$18.43/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 October 14, 2022.

(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”.

Drill hole CURI-399 intersected semi-massive to massive sulphide mineralization from 178.59 to 182.38 metres, grading

5.72% copper, 4.25 g/t gold, 5.24% zinc, 100.4 g/t silver, and 0.26 % lead. A higher-grade subsection occurs from 179.79

to 181.36 metres, grading 11.95% copper, 9.41 g/t gold, 12.45% zinc, 234.0 g/t silver and 0.59% lead.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%) (1) (2)

Approx. True

Thickness (m)

CURI-399 178.59 182.38 3.79 5.72 4.25 5.24 100.4 0.26 9.07 3.22

including 179.79 181.36 1.57 11.95 9.41 12.45 234.0 0.59 19.84 1.33

(1) Metal equivalency based on US$3. 43/lb Cu, US$1,676/oz Au, US$1.32 /lb Zn, US$18.43/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 October 14, 2022.

(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”.

Drill hole CURI-400 intersected mineralized, gypsum alteration (replacement) of the host strata in the hanging wall of the

semi-massive sulphide mineralization from 225.77 to 227.64 metres, grading 1.01% copper, 0.27 g/t gold, 1.07% zinc, 3.5

g/t silver and 0.01% lead. This transitioned directly into semi -massive su lphide mineralization from 227.64 to 233.14

metres, grading 6.00% copper, 0.38 g/t gold, 6.02% zinc, 15.2 g/t silver, and 0.01% lead. Below the semi-massive sulphide

mineralization, it transitioned back into mineralized gypsum alteration (replacement) from 233.14 to 235.49 metres,

grading 2.01% copper, 0.11 g/t gold, 0.04% zinc, and 2.1 g/t silver, noting that the replacement continued through a depth

of 251.22 metres.

Drill Hole

From

(m)

Thickness

(m)

(%)

(g/t)

(%)

(g/t)

(%)

Copper

Equivalency

(%)(1) (2)

Approx. True

Thickness (m)

CURI-400 225.77 227.64 1.87 1.01 0.27 1.07 3.5 0.01 1.38 1.40

227.64 233.14 5.50 6.00 0.38 6.02 15.2 0.01 7.58 4.13

233.14 235.49 2.35 2.01 0.11 0.04 2.1 0.00 1.63 1.76

(1) Metal equivalency based on US$3. 43/lb Cu, US$1,676/oz Au, US$1.32 /lb Zn, US$18.43/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 October 14, 2022.

(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”.

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 2023, 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

Date:

News Release:

Ticker Symbols:

November 15, 2022

22-21

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

– 3 of 6 –

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 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 Feasibility Study report title d: “NI 43 -101 Technical Report , Feasibility Study, Curipamba El Domo Project ,

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

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 facility 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 Curipamba project. A QAQC program is also in place at BV and

includes insertion of blanks, standards, an d 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.

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 Mining

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, which 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 Altius 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 through 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.

Date:

News Release:

Ticker Symbols:

November 15, 2022

22-21

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

– 4 of 6 –

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 management 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", "could", "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 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 Mining and Salazar undertake to update any forward-looking information except in accordance with applicable

securities laws.

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

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.

Date:

News Release:

Ticker Symbols:

November 15, 2022

22-21

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

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

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT

CURI-415 695459 9855361 1017 317 -66 - Drill moving to site

CURI-414 695440 9855274 1028 164 -73 - In Progress

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:

November 15, 2022

22-21

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

– 6 of 6 –

Figure 1: Drill Collar Location Map for El Domo

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