Mr. Christian Kargl-Simard reports

ADVENTUS MINING ANNOUNCES US$5 MILLION EARN-IN AGREEMENT WITH JAPAN ORGANIZATION FOR METALS AND ENERGY SECURITY (JOGMEC) FOR THE TRES PICACHOS PROJECT IN ECUADOR

Adventus Mining Corp. has entered into a binding interim agreement (the IA) for an earn-in and joint venture with Japan Organization for Metals and Energy Security (JOGMEC) for the Tres Picachos mineral concession in Ecuador owned by Adventus. Under the terms of the IA, JOGMEC has the right to earn a 75-per-cent ownership interest in Tres Picachos by investing an aggregate $5-million (U.S.) between now and March 31, 2028. Adventus and JOGMEC shall work to conclude a definitive agreement in due course. Adventus shall manage and operate the exploration programs in Ecuador for Tres Picachos and will receive a management fee based on expenses.

Christian Kargl-Simard, president, chief executive officer and director of Adventus, commented: "Adventus is pleased to continue the long-term exploration partnership with JOGMEC in Ecuador which was originally established by Luminex Resources. It is important for us to find accretive ways to advance our greenfield portfolio while we devote our capital to the planned advancement and construction of the El Domo-Curipamba copper-gold project."

The Tres Picachos project

The approximately 3,674-hectare concession is located in southeast Ecuador, south of Solgold's Porvenir project. The project is prospective for copper, molybdenum, gold and silver based on work completed to date. Tres Picachos has surface sampling and mapping completed, as well as geophysical work. Historical rock samples show a central anomaly with copper and gold mineralization.

Initial 2024 work plan

The first-year work program will consist of stream sediment samples, soil sampling, rock sampling, surface mapping, extension of the ground magnetics and an induced polarization (IP) program. This work program is intended to identify and prioritize potential drill targets and is expected to commence in April, 2024.

Summary of key IA terms

The IA envisages a five-period earn-in over four years with the attached expenditure schedule.

JOGMEC will have the right to accelerate the exercise of the earn-in by completing all the exploration expenditures in a period shorter than the earn-in term. JOGMEC also has the right to withdraw from the earn-in after the first period's expenditures. Seventy-five-per-cent ownership by JOGMEC will occur only after the entire earn-in expenditure has been completed; there is no phased earn-in.

Qualified person

The technical information of this news release has been reviewed and verified as accurate by Christian Paramo, PGeo, senior geologist for Adventus Mining, a non-independent qualified person, as defined by National Instrument 43-101.

About Adventus Mining Corp.

Adventus Mining is an Ecuador-focused copper-gold exploration and development company. Adventus is advancing the 215-square-kilometre majority-owned Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. With the recent merger with Luminex Resources, Adventus Mining also owns the Condor gold project and a large exploration project portfolio that spans over 135,000 hectares -- one of the largest holdings in Ecuador. The company's strategic shareholders include Ross Beaty's Lumina Group, Altius Minerals Corp., Wheaton Precious Metals Corp. and significant Ecuadorian investors. 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.

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