Mr. Ramiro Massa reports

MINSUD ANNOUNCES EXTENSION OF CLOSING OF THE TRANSFER OF 50.1% INTEREST IN ITS ARGENTINIAN SUBSIDIARY

Further to Minsud Resources Corp.'s press releases dated April 13, 2023, and Nov. 27, 2023, in connection with South32 Aluminium (Holdings) Pty. Ltd.'s exercise of its earn-in right to acquire a 50.1-per-cent ownership interest in Minera Sud Argentina SA (MSA), Minsud's indirect Argentinian subsidiary that holds and operates the flagship Chita Valley project, due to procedural administrative delays the closing date of the acquisition has been extended from Feb. 14, 2024, to April 5, 2024.

At the time of completion, Minsud Argentina Inc. (MAI), a wholly owned subsidiary of the company, and South32 will enter into a shareholders' agreement to govern the management and operation of MSA which will include further exploration and, if economically feasible, the development and exploitation of the Chita Valley project. Until completion, MAI shall continue to manage and operate MSA and, therefore, the Chita Valley project.

About the Chita Valley project, San Juan province

The Chita Valley Project is a large exploration-stage porphyry system with classic alteration features, widespread porphyry-style copper-molybdenum-gold and polymetallic silver-lead-zinc mineralization hosted by hydrothermal phreatic breccias and associated gold- and silver-bearing polymetallic veins of intermediate sulphide composition that conformed an outcropping porphyry system at Chita and a lithocap of a porphyry system at Chinchillones. San Juan province of Argentina has a robust mining sector and recognizes the important economic benefits of responsible development of its substantial mineral resource endowment.

About Minsud Resources Corp.

Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag-Pb-Zn project, in the province of San Juan, Argentina. The company's shares are listed on the TSX Venture Exchange under the trading symbol MSR, and on the OTCQX under the symbol MDSQF.

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