Mr. Christian Kargl-Simard reports

PRESIDENT OF ECUADOR SIGNS ENVIRONMENTAL CONSULTATION DECREE CLEARING THE PATH FOR THE FINAL STAGE OF ENVIRONMENTAL LICENSING FOR EL DOMO - CURIPAMBA PROJECT

Adventus Mining Corp. and Salazar Resources Ltd. (collectively, the participants) have noted that the President of Ecuador has signed the new environmental consultation regulation decree in compliance with the Ecuadorian Constitutional Court decision. This decree applies to activities in all sectors and enterprises in Ecuador requiring environmental licences, and will govern the formal consultation process required for all environmental and social impact assessments (ESIA). For the El Domo-Curipamba project, this decree allows El Domo to move to the next step of the environmental licensing process, which follows the technical ESIA approval granted by the government of Ecuador in May, 2022 (see May 31, 2022, Adventus news release).

The decree lays out the steps for the new environmental consultation process, including two rounds of formal community consultations led by the government of Ecuador. These community consultations are expected to be similar to the many community consultations led by the participants since the discovery of El Domo deposit in 2008. Current guidance from the government of Ecuador is that the consultation process is expected to require four to six months to the signing and issuance of the environmental licence for El Domo construction. This suggests that full construction activities could therefore begin as early as in October, 2023.

During this period, the participants expect to finalize four other necessary permits for construction to begin, including: (a) water no affect permit (for discharge and covering potential impact to any water sources), (b) water usage permit (surface water capture during construction), (c) tailings dam and waste storage approval permit (certificate of technical feasibility in hand), and (d) explosives permit. The permits have advanced well through early 2023 with strong government engagement, which followed the publication of the El Domo feasibility study and submission of the ESIA report in December, 2021.

About Adventus Mining Corp.

Adventus Mining is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is majority owner of the 215-square-kilometre Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. In addition, Adventus Mining is engaged in a countrywide exploration alliance in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Ltd., as the financing participant. Its strategic shareholders include Altius Minerals Corp., Greenstone Resources LP, Wheaton Precious Metals Corp., and Nobis Group of Ecuador. Adventus Mining is based in Toronto, Canada.

About Salazar Resources Ltd.

Salazar Resources is focused on creating value and positive change through discovery, exploration and development in Ecuador. The team has an unrivalled understanding of the geology in country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines. Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador, with a strategy to make another commercial discovery and farm out non-core assets. The company actively engages with Ecuadorian communities, and, together with the Salazar family, it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development. The company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25-per-cent stake fully carried through to production. At two copper-gold porphyry projects, Pijili and Santiago, the company has a 20-per-cent stake fully carried through to a construction decision.

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