An anonymous director reports

EURO SUN MINING ANNOUNCES THE FILING AND RECEIPT OF THE FINAL PROSPECTUS RELATING TO THE PREVIOUSLY ANNOUNCED BOUGHT DEAL PUBLIC OFFERING OF UNITS

Euro Sun Mining Inc. has filed, and obtained a receipt for, a short-form (final) prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec, in connection with its previously announced offering, whereby Sprott Capital Partners LP, on its own behalf and, if applicable, on behalf of a syndicate of underwriters, has agreed to purchase, on a bought-deal basis, 51,282,052 units of the company at a price of 39 cents per unit, for gross proceeds of approximately $20-million.

Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant entitling the holder to purchase one common share at 55 cents at any time on or before the date which is 36 months after the closing date (as defined below).

The company has granted to the underwriter the option to purchase up to that number of additional units equal to 15 per cent of the offering size at the issue price for market stabilization purposes and to cover overallotments. The overallotment option will be exercisable in whole or in part, at any time and from time to time, for a period of 30 days from and including the closing date. If the overallotment option is exercised in full, an additional $3-million will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be approximately $23-million.

The company intends to use the net proceeds of the offering for the exploration and development of the company's projects, including permitting and the feasibility study, and for working capital purposes.

The offering is scheduled to close on or about June 5, 2020, or such other date as may be agreed to between the company and the underwriter, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities.

On the closing date, the company shall pay to the underwriter a cash commission of 7 per cent of the gross proceeds raised under the offering (including in connection with the exercise of the overallotment option) and shall issue warrants of the company to the underwriter, exercisable for a period of 24 months following the closing date, to acquire that number of common shares which is equal to 7 per cent of the number of units sold under the offering (including units issued in connection with the exercise of the overallotment option) at an exercise price equal to the issue price.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100-per-cent-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second-largest gold deposit in Europe.

We seek Safe Harbor.