13-08-2020 Anza - Orosur

Anza
High grade gold and base metal exploration project located in the Western
Cordillera, 50km west of the city of Medellín and 50km south of the Buriticá
high- grade gold deposit.

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Summary and Location

Multiple high grade zones in a wide low-grade envelope and favourable topography with pipeline of drill
ready targets

Drilling to date favourable and encountered significant gold and zinc mineralisation

Best intercepts to date include 15 m of 40 g/t Au (DDH MAP-48) and 41 m of 14 g/t Au (DDH MAP-38).

Access by paved road to the town of Anzá and a 17 km gravel road operable year-round.

Historically secure location. A gypsum mine has been in operation since 1991.

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Excellent infrastructure, with power grid, abundant water and mine facilities on site.

Elevation ranges from 700 m to 2,000 m above sea level.

Environmental permit in place to mine underground and open-pit.

History
In June 2010, Waymar Resources, acquired by Orosur in July 2014, entered into an option agreement to
acquire a 100% interest in the Anzá Project consisting of ~231 km² of mineral rights.

In June 2013, the option was exercised and Waymar acquired a 100% interest in the Anzá project.Total
consideration:

US$3.8mm cash payments

Issuance of 3.8mm Waymar shares (~1.4mm Orosur shares)

Exploration expenditures of US$4.0mm

In August 2017, Orosur completed a US$3.2M private placement, which was oversubscribed and at a
premium to market to fund the drilling of up to 15,000m of diamond core drilling

In September 2018, Orosur entered into a strategic alliance with Newmont Goldcorp, allowing them a three
phased earn-in of up to 75% in Anzá by spending a minimum US$30.0mm over 12 years, completing an NI
43-101 feasibility study & making cash payments to Orosur equaling a US$4.0mm.

Newmont Goldcorp also invested US$2.0mm to purchase 29,213,186 shares, amounting to a 19.4%
interest in Orosur

Geology
Multiple phases of alteration, brecciation and mineralization.

Multiple mineralised zones hosted preferentially in mudstones, chert and breccias; minor in volcanic units.

Pyrite, sphalerite, chalcopyrite, and gold +/-galena, bornite, native S.

Anhydrite/gypsum, quartz veining and stockwork, chalcedony, carbonate veinlets.

Structurally controlled > 2.5 km long, 200 m wide zone of Au (+/-Ag, Zn, Cu). Variable mineralization and
alteration styles. Evidence of “telescoping” (different mineralization styles expected to be vertically zoned
but occurring overprinted upon each other).

Drilling to date supports significant zinc grades coinciding with high grade gold.

Exploration
A fortuitous discovery of massive sulfide lens led to an initial volcanic massive sulphide (“VMS”) model;
however, the initial 3,000 meters of phase 1 drilling which began in 2011 did not confirm VMS style
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mineralization but led to discovery of a new deposit., The mineralization is structurally controlled, with
disseminated to semi-massive sulfides, irregular veins, stringers and, hydrothermal breccias. were more
than 2 km long, 200 m wide zones of Au (+/‐ Ag, Zn, Cu) showing variable mineralization and
alteration styles. An uncertain genetic model in virgin territory with few boundaries on geometry indicates a
potential for continued discoveries, with mapped porphyry targets to the north and west, and a postulated
porphyry source at shallow depth

Exploration Activity and Strategy to date

17,408m of core drilling undertaken (53 holes) since first optioning the Project

Drill spacing averaging 50m. Average depths of drill holes of 300m.

In excess of 2.5 km of mineralization identified by drilling along the Aragón fault. The deposit is open to the
north, south and down-dip.

Four high-grade gold zones discovered through step-out drilling.

Systematic soil, stream, surface and underground sampling programs

2,867 km helicopter magnetic and radiometric survey completed, covering approximately 260 km²

Structural evaluation using Radar images over the entire area of the land package

1:2000 scale geological mapping of areas of interest covering approximately 1,350 ha of the Anzá property

Induced polarization (“IP”), resistivity, magnetometry and topographic survey of 30 line-kilometres in a

central portion of the Anzá property

Hollistic re-interpretation and in depth analysis of exploration data suite

Planning, budgeting and initiation of next step out drilling programme – including further delineation of high
grade gold zones

Continued advancement of work at targets and work on base metals mineralisation

Recent Drilling
Recent work has included:

Securing permitting and taking over operatorship of the two gypsum mines on the property

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Completing initial metallurgical testing with samples from previous drilling - which shows recoveries of 95.9
- 96.1% with gravity concentration, flotation and cyanidation

MDA (Reno, Nevada) was engaged to assist in preparing a geological potential of the APTA target, which
covers over a small portion of the known strike. This resulted in a potential of 1.6 - 2.3Mt at 3.2 - 3.7g/t Au.

Logan Drilling was engaged in Q1 18 to drill up to 15,000m of diamond core

Drilling in 2017/2018 of 18 holes, or 6,314m at APTA validated Orosur's geological model, extended the
mineralized zone and intercepted numerous high grade gold intervals

Drilling in 2017/2018 totaling 5 holes, or 3,045m at Charascala confirmed the presence of gold in the
system and identified an important exploration target in the South of Charrascala

Newmont Goldcorp Strategic Alliance

In September 2018, Orosur entered into a non-brokered private placement with Newmont Goldcorp for
US$2.0mm, and entered into an exploration agreement with venture option (the “Exploration and Option
Agreement”)

The Exploration and Option Agreement includes a three-phase earn-in structure allowing Newmont to
earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in
qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making
cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2.

In Phase 1, Newmont may earn a 51% ownership interest by spending US$10.0 million in qualifying
expenditures over four years and making cash payments to Orosur equaling a total of US$2.0 million
during the first two years of the Phase 1 earn-in period. Upon Newmont’s completion of Phase 1, it may
elect, in its sole discretion, to exercise its option to form a joint venture with Orosur.

In Phase 2, Newmont may elect to earn an additional 14% ownership interest in the Anzá Project by
solefunding US$20.0 million in qualifying expenditures within four years, completing an NI 43-101
compliant pre-feasibility study and making cash payments to Orosur equaling a total of US$2.0 million.

In Phase 3, Newmont may elect to earn an additional 10% ownership interest in the Anzá Project by
completing an NI 43-101 compliant feasibility study within four years.

Joint Funding and Financing Option

Upon Newmont completing the Phase 3 earn-in, Orosur may elect for Newmont to solely fund all
expenditures until the commencement of commercial production at the Anzá Project. If the Company elects
for Newmont to do so:
Newmont’s ownership interest shall increase by 5% to 80% in the Anzá Project;

Upon the commencement of commercial production, Orosur shall commence contributing funds for
adopted programs and budgets in proportion to its ownership interest or suffer dilution of its ownership
interest; and

Newmont shall receive 90% of Orosur’s distribution of earnings or dividends until such time as the
amounts received equal the aggregate amount of expenditures incurred by Newmont on behalf of

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Orosur, plus nominal interest.

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L AT E ST N E WS ( h t t p s : / / w w w . o r o s u r. c a / p r e s s r e l e a s e s )

J U LY 1 7, 2 0 2 0
M AY 0 3 , 2 0 2 0
Orosur Mining Inc. – Board Changes Announcement...
Orosur Mining Inc. –
READ MORE ( h t t p s : / / w w w . o r o s u r . c a / f i l e s / 2 0 2 0 - 0 7 - 1 7 - B o a r d - A n n o u n c e m e n t - F i n a l . p d f ) New Director Option
Issuance...

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READ MORE (https://www.orosur.ca/files/2020-05-04-May-PR-Director-Options-grant-FINAL.pdf)

M AY 0 1 , 2 0 2 0
Orosur Mining Inc. – Appointment of Brad George as Non-Executive Director...

READ MORE (https://www.orosur.ca/files/2020-05-01-Brad-George-New-NED-PR-FINAL.pdf)

Copyright 2020 Orosur Mining Inc.

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