An anonymous director reports

EURO SUN CLOSES FIRST TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT FINANCING

Euro Sun Mining Inc. has closed the first tranche of its previously announced non-brokered private placement financing of units of the company. Pursuant to the closing of the first tranche, the company issued 9,390,038 units of the company at a price of five cents per unit for gross proceeds of $469,501.90. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the company at an exercise price of five cents per common share until Nov. 8, 2026.

In connection with closing of the first tranche, the company paid an aggregate amount of $1,400 in cash commissions and 28,000 broker warrants to a finder. Each broker warrant will entitle the holder thereof to purchase one common share at a price of five cents for a period of 24 months from the date of the closing of the first tranche.

A director of the company purchased one million units under the offering. The placement to such person constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related-party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101). Further details will be included in a material change report to be filed by the company. The material change report will not be filed more than 21 days prior to closing of the placement due to the timing of the announcement of the private placement and closing of the offering.

Euro Sun intends to use the proceeds of the offering for the advancement of its Rovina Valley project and for general corporate purposes.

The securities issued under the first tranche are subject to a hold period that expires on March 9, 2025.

About Euro Sun Mining Inc.

Euro Sun is a publicly listed development-stage mining company focused on unlocking value through the responsible development of the Rovina Valley project, one of Europe's largest copper-gold projects.

We seek Safe Harbor.