Mineralisation Extends at El Cedro

Orosur reports wide gold intercepts at El Cedro and advances Pepas permitting in Colombia.

What the company is saying

Orosur Mining Inc. highlights progress at its Anzá Project in Colombia, focusing on new drill results from the El Cedro prospect and the completion of a key permitting milestone at the Pepas deposit. The company frames the El Cedro results as evidence of a 'mineral system of substantial scale,' emphasizing a 267.4m interval grading 0.65g/t gold from surface, with higher-grade sub-intervals including 2.15m at 3.89g/t gold. CEO Brad George characterizes these developments as a 'real step forward' that adds momentum, while acknowledging that detailed interpretation is preliminary and more geochemical data is pending. The announcement also details the completion of the Programa de Trabajos y Obras (PTO) for Pepas, marking the start of formal permitting with the Colombian mining authority (ANM). The tone is confident but measured, with operational challenges such as drilling interruptions disclosed and addressed. The company does not provide updated resource or reserve figures in this release, nor does it discuss financial metrics or timelines for production.

What the data suggests

The technical data from El Cedro's first drill hole (CED001) shows a continuous mineralized interval of 267.4m at 0.65g/t gold from surface, with multiple higher-grade zones including 46.3m at 1g/t, 28.25m at 1.01g/t, 22.2m at 1.01g/t, and a peak of 2.15m at 3.89g/t. These grades are above the 0.3g/t cutoff used for reporting, with several intervals exceeding 1g/t, and the intersection remains open at depth. The hole was terminated early at 267m due to drill rig issues, short of the planned 500m, but a follow-up hole (CED001A) is planned to test deeper targets. Approximately 40,000m of drilling has been completed at the APTA prospect since 2012, with drilling ongoing. The Pepas deposit's permitting process has advanced with the submission of the PTO, based on CRIRSCO-compliant resource calculations, but no new resource or reserve figures are disclosed in this update. Multi-element assay results for El Cedro are pending and expected in the coming weeks, as samples require analysis outside Colombia. The data supports the presence of a large mineralized system at El Cedro, but the economic potential remains unquantified at this stage.

Analysis

The announcement provides a factual and detailed update on exploration activities at the Anzá Project, including specific assay results from the first drill hole at El Cedro and the completion of the final draft of the PTO for the Pepas deposit. The language is positive but proportionate to the evidence, with no exaggerated claims about imminent production or financial returns. Most key claims are realised facts (drilling completed, assays received, PTO drafted), while a minority are forward-looking (further drilling, pending assays, start of permitting process). The benefits of these activities are inherently long-term, as the project remains in the exploration and permitting phase, with no immediate pathway to production or earnings. There is no disclosure of a large capital outlay or financial commitments in this update, and the technical data is specific and credible. The gap between narrative and evidence is minimal, with the company avoiding promotional language and sticking to concrete milestones.

Risk flags

• ●Operational risk is elevated due to drill rig issues that caused the premature termination of CED001 at 267m, potentially delaying deeper target testing and increasing costs or logistical complexity.
• ●Permitting risk is significant, as the Pepas deposit is only at the initial stage of the Colombian approval process; consultation with the ANM and the development of social and environmental programs are required, and timelines or outcomes are uncertain.
• ●Resource and economic uncertainty remains high at El Cedro, as only one drill hole with initial gold assays has been reported, with no resource estimate or economic assessment provided; the mineralization style is described as different from other prospects, and its scalability or continuity is unproven.

Bottom line

Orosur Mining Inc. has delivered promising early drill results at the El Cedro prospect, with a long mineralized interval and several higher-grade sections, but the economic significance cannot be assessed until more drilling and full assay data are available. The company has also advanced the Pepas deposit by submitting the PTO, starting the formal permitting process in Colombia, but this is only the first step in what is typically a lengthy and complex regulatory pathway. Operational setbacks, such as the drill rig failure, highlight execution risks that could affect timelines and costs. No new resource or reserve figures or financial data are provided, so investors must rely on technical progress and future assay results for further evaluation. The most important takeaway is that while the scale of mineralization at El Cedro is encouraging, the project remains high risk and early stage, with permitting and technical hurdles still ahead.

Announcement summary

(TSXV:OMI, AIM:OMI) Orosur Mining Inc. announced an update on exploration activities at its Anzá Project in Colombia. The Anzá Project comprises approximately 530km2 of granted exploration titles and applications within the Mid-Cauca gold belt, west of Medellín. These titles and applications are 100% owned by Minera Anzá and Minera Monte Aguila, both wholly owned subsidiaries of Orosur Mining Inc. The company is focusing on three main prospects: Pepas, APTA, and El Cedro. The Pepas deposit is a shallow, high-grade gold deposit with a previously announced Mineral Resource Estimate. The APTA prospect has seen approximately 40,000m of drilling since 2012, with drilling ongoing. The El Cedro prospect, located roughly 4km south of the APTA base camp, is a cluster of gold/copper porphyry intrusions and associated hydrothermal systems where drilling recently commenced. The first drill hole at El Cedro (CED001) was drilled on August 26, 2026, and gold assays for the first 267.4m have been received, showing the entire interval is mineralised, with a composite intersection of 267.4m @ 0.65g/t Au from surface. Within this interval, multiple veins returned assays in excess of 3g/t Au, including a section of 2.15m @ 3.89g/t Au from 232.25m to 234.4m. Other notable intervals include 46.3m @ 1g/t Au from 19.20m to 65.5m, 28.25m @ 1.01g/t Au from 118.75m to 147m, and 22.2m @ 1.01g/t Au from 225.2m to 247.4m. The intersection ended in mineralisation and remains open at depth. CED001 was originally planned to reach 500m but was terminated at 267m due to drill rig issues; a new hole, CED001A, will be drilled to target the deeper zones. Full multi-element assay results are expected in the coming weeks, as samples must be sent outside Colombia for ICP-MS analysis. The company has completed the final draft of the required Programa de Trabajos y Obras (PTO) for the Pepas deposit, marking the start of the permitting and approval process with the Colombian Agencia Nacional de Mineria (ANM). The PTO is based on resources and reserves calculated according to the CRIRSCO system, which is compatible with JORC and CIM codes. Upon completion of the PTO, Orosur will commence consultation with the ANM to present the PTO for examination and develop plans for necessary social and environmental programs. Brad George is the CEO of Orosur Mining Inc. Louis Castro is the Chairman. The company’s exploration activities are ongoing in Colombia and Argentina.

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