Mr. Brad George reports

OROSUR MINING INC ANNOUNCES ADMINISTRATIVE UPDATE & OPTIONS EXERCISE

The TSX Venture Exchange has given its approval to Orosur Mining Inc.'s new equity incentive plan, which was approved by shareholders at the company's annual and special meeting of shareholders on Dec. 20, 2023, pursuant to which the company may grant stock options, restricted share units and deferred share units to the officers, directors, employees and consultants of the company and its subsidiaries.

The equity incentive plan replaces the company's prior stock option plan and should reduce dilution to shareholders and be more fiscally efficient for some of the participants. As with the prior stock option plan, the maximum number of common shares that may be issued upon exercise or settlement of awards granted under the equity incentive plan is 18,856,030 common shares of no par value each, representing 10 per cent of the issued and outstanding common shares of the company as at Oct. 24, 2023, being the date the equity incentive plan was approved by the board, subject to shareholder and TSX Venture Exchange approval.

Full details of the equity incentive plan were set out in the management information circular that was posted to shareholders on Nov. 20, 2023, together with the notice of the meeting. Both documents are available on the company's website and on the company's SEDAR+ profile.

Exercise of options by former employee

Following the exercise of 75,000 options at an exercise price of five cents each, by a former employee, the company has issued 75,000 common shares of no par value. Application has been made for the 75,000 common shares, which rank pari passu with the existing common shares in issue, to be admitted to trading on AIM. It is expected that admission will become effective and dealings will occur at 8 a.m. United Kingdom time on or around Feb. 29, 2024. Following admission, the company will have 10,631,665 options outstanding (approximately 5.2 per cent of the company's total common shares in issue).

Following admission and for the purposes of the disclosure guidance and transparency rules, the company will have 205,584,452 common shares in issue. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the company.

About Orosur Mining Inc.

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

We seek Safe Harbor.