Adventus Mining Delivers Option Exercise Notice FOR Completion of Earn-IN Requirements to Acquire Majority Ownership of the Curipamba Copper-GOLD Project and Files Ni 43-101 Technical Report
Date:
News Release:
Ticker Symbols:
December 10, 2021
21-24
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
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ADVENTUS MINING DELIVERS OPTION EXERCISE NOTICE FOR COMPLETION OF EARN-IN REQUIREMENTS TO ACQUIRE
MAJORITY OWNERSHIP OF THE CURIPAMBA COPPER-GOLD PROJECT AND FILES NI 43-101 TECHNICAL REPORT
Toronto, December 10, 2021 – Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN; OTCQX: ADVZF) and Salazar
Resources Limited ("Salazar") (TSX-V: SRL) (collectively the "Partners") are pleased to announce the SEDAR filing of a NI
43-101 technical report supporting the recently completed feasibility study on the Curipamba copper -gold project in
Ecuador (“Curipamba”). The results summary of the Curipamba feasibility study was previously announced in a October
26, 2021 news release.
With this filing, Adventu s has completed the final significant milestone requirement under its earn-in option to acquire
75% ownership of Curipamba pursuant to the amended and restated earn -in option agreement between the Partners ,
dated September 19, 2019 (“Earn-In Option”). Adventus has delivered written notice of the exercise of the Earn-In Option
to Salazar . Within the next 30 days, the Partners will complete the earn- in mechanics and issue to Adventus shares
representing 75%-ownership in a Canadian subsidiary of Salazar that indirectly owns 100% of the Curipamba project (the
“Shares”). Upon the Shares being issued to Adventus, a shareholders’ agreement will manage the respective rights and
obligations of the Partners as shareholders of the joint venture subsidiary.
President and CEO of Adventus, Christian Kargl -Simard stated: “ Adventus is pleased to announce this major milestone
which is a culmination of significant multi-disciplinary efforts by our team of professionals , partners, and shareholders
since our 2017 decision to enter the Curipamba project and Ecuador . In particular, we would like to thank Fredy Salazar
and the Salazar Resources team for trusting and working closely with us to position Curipamba to where it is today.
Adventus looks forward to further realizing significant value and catalysts from Curipamba in 2022 and beyond.”
President and CEO of Salazar, Fredy Salazar stated: “ We want to thank the entire Adventus team for their valued role in
delivering key development milestones at Curipamba. We look forward to continuing our special Curipamba partnership
as we work together to bring El Domo into production and thereby add a new operation to the growing responsible mining
industry of Ecuador. Our combined aim is to continue contributing to the social and economic development of the country,
and sustainably create long-term value for all our stakeholders, including the government and people of Ecuador.”
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 C orp., and the
Nobis Group of Ecuador. Adventus is advancing the Curipamba copper -gold project through a feasibility study, while
continuing to explore the broader 215 square kilometre 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. 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.
Date:
News Release:
Ticker Symbols:
December 10, 2021
21-24
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
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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.
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 Partners as of the date the statement is published, and the Partners
assumes 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 and
Salazar expect or anticipate will or may occur in the future, including formal completion of the mechanics of the Earn-In Option. 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.
For further information from Salazar, please contact [email protected].