Mr. Louis Castro reports

OROSUR MINING INC ANNOUNCES ISSUE OF NEW COMMON SHARES AND ISSUE OF WARRANTS

Further to Orosur Mining Inc.'s announcement made on Feb. 15, 2024, 16,949,152 new common shares of no par value in the company have been admitted to trading on AIM (Alternative Investment Market) at a placing price of 2.95 pence (5.02 cents).

Following the issue of the new common shares, which will rank pari passu with the existing common shares of the company, the total number of common shares issued and outstanding with voting rights in the company will be 205,509,452.

The figure of 205,509,452 common shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the company under the Financial Conduct Authority's disclosure guidance and transparency rules.

For further details in relation to the placing, including the gross amount raised and intended use of proceeds, please see the company's press release from Feb. 15, 2024.

Issuance of warrants

As set out in the company's announcement on Feb. 15, 2024, the company has also issued 16,949,152 warrants, exercisable at a price of 5.58 U.S. cents (7.58 cents or 4.425 pence) with an expiry date of Feb. 21, 2026. The warrants, which are unlisted, will be issued pursuant to a warrant indenture entered into by the company under a deed poll constituted under English law. Warrantholders will receive certificates representing the warrants issued to them in due course.

Broker fees

Turner Pope Investments (TPI) Ltd., the company's joint broker, received a fee of 6 per cent of the funds raised in the placing (30 British pounds), a corporate finance fee of 30,000 British pounds, which also covers its legal expenses, and will receive a commission of 6 per cent of the gross value received by the company from the exercise of the warrants described herein if any are exercised during their two-year exercise period. TPI also received 1,694,915 broker warrants equal in number to 10 per cent of the new common shares, exercisable at the placing price at TPI's option at any time in the five years following admission.

About Orosur Mining Inc.

Orosur Mining is a mineral explorer and developer currently operating in Colombia, Argentina, Nigeria and Brazil.

We seek Safe Harbor.