Orosur Enters into strategic agreement and closes US$2.0 million private placement with Newmont for exploration of Anzá property in Colombia

On September 7, 2018, Orosur Mining Inc.(TSX/AIM: OMI) completed a private placement of US$2,000,000 with Newmont Mining Corporation (NYSE: NEM), and entered into an exploration agreement with venture option (the “Exploration and Option Agreement”) with Newmont Colombia S.A.S., a wholly-owned subsidiary of Newmont, for the Anzá exploration property (the “Anzá Project”) in Colombia. The Exploration and Option Agreement includes a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2. In Phase 3, Newmont may elect to earn an additional 10% ownership interest in the Anzá Project by completing an NI 43-101 compliant feasibility study within four years. Fasken advised Orosur with a team that included Nancy Eastman and Mitchell Thaw (Tax).