Final Stage of the Environmental Consultation Process for the El Domo - Curipamba Project has been Completed
Date:
News Release:
Ticker Symbols:
December 27, 2023
23-20
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 1 of 2 –
Final Stage of the Environmental Consultation Process for the El Domo - Curipamba Project has been Completed
– Clearing the Way for Issuance of the Environmental License
98% of People from the Direct Areas of Influence of the Project Voted in Support
of the Issuance of the Environmental Licence
Toronto, December 27, 2023 – Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN, OTCQX: ADVZF) and Salazar
Resources Limited (“Salazar”) (TSX-V: SRL, OTCQB: SRLZF) (collectively the “Participants”) are pleased to announce that
the Ministry of Environment, Water, and Ecological Transition of Ecuador (“MAATE”) has completed the final consultation
phase of the environmental consultation process for the El Domo - Curipamba project in central Ecuador (the “Project”),
on December 15, 2023.
The final c onsultation phase was carried out by MAATE in accordance with instructions and guidelines given by the
Constitutional Court in ruling 51-23-IN/23 published on November 17, 2023. Six consultation assemblies , open to the
public, were held in the canton of Las Naves in both the direct and indirect areas of influence o f the Project. As part of
the process, MAATE presented changes and inclusions to the Project Environmental Management Plan and Environmental
Impact Assessment based on community observations and feedback collected during the 14-day information phase carried
out by MAATE in July 2023. Following the presentation of the updated environmental management plan, the community
participants deliberated and then voted with 98% of people from the direct areas of influence of the P roject voting in
favour of issuing the environmental license for the Project.
This positive outcome is a testament to the many years that the Participants have worked closely and transparently with
local stakeholders to maintain and build the Project’s social license to operate . This result now clears the way for the
expected issuance of the environmental license for the Project. The Participants are pleased to continue the advancement
of the Project in line with recent guidance.
About Adventus
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 po rtfolio
in Ireland with South32 Limited as the funding participant. Its strategic shareholders include Altius Minerals Corporation, G reenstone
Resources LP, Wheaton Precious Metals Corp., and significant Ecuadorian shareholders. 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 ow ned
pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-
Date:
News Release:
Ticker Symbols:
December 27, 2023
23-20
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 2 of 2 –
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 fu lly
carried through to production. At two copper -gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully car ried
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 Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
This release contains certain “forward looking statements” and certain “forward -looking information” as “defined under applicable Canadian and
U.S. securities laws. Forward -looking statements and information can generally be identified by the use of forwar d-looking terminology such as
“may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward -looking
information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating
to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements relate to future events or future performance and reflect the Participants expectations or beliefs regarding future events.
Forward-looking statements include, but are not limited to: the discussions regarding strategies for the development of the Project; the adoption of
a strategy and the timing thereof; the obtaining of key approvals, permits and environmental licensing approval for the Project and the timing thereof;
the start of construction at the Project and the timing thereof; and the timing and resolution of the Court . By their very nature, forward -looking
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements expressed or implied by the forward- looking statements. Such factors
include, amongst others, risks related to the exploration, development, production, recoveries and other anticipated or possible future developments
at the Project, including, without limitation, that exploration, development and production activities will not occur or be as anticipated and that
environmental licensing will not be approved; failure to obtain the environmental licensing approval for the Project along with other key permits and
approvals and to start construction; the Court will not have a favorable ruling or in the expected time period; and general economic, business and
political conditions.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opi nions,
which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that
management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, amon g other things,
include: business integration risks; fluctuations in general macroeconomic conditions; f luctuations in securities markets; fluctuations in spot and
forward prices of copper or certain other commodities; change in national and local governments, legislation, taxation, contr ols, regulations and
political or economic developments; risks and haza rds associated with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and
estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may
impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populati ons; availability of
increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (inc luding the risks of
obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
The Participants undertake no obligation to update forward- looking information except as required by applicable law. Such forward- looking
information represents management's best judgment based on the information currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward -looking statements or
information.
For further information from Adventus Mining, please contact Christian Kargl- Simard, President and Chief Executive
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 Freddy D. Salazar, Manager – Corporate Development, at
+593 98 548 9355 or [email protected]. Please also visit the Salazar Resources website at
www.salazarresources.com.