Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 11.55% Copper Equivalent Over 16.86 Metres and Provide a Regional Exploration Update for the Curipamba Project

TORONTO, May 12, 2021 /CNW/ – Adventus Mining Corporation ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF) (collectively the "Partners") are pleased to announce additional infill drilling results from the El Domo volcanogenic massive sulphide deposit ("El Domo") located within the 21,537-hectare Curipamba project in central Ecuador.

Highlights – Drill Results from the El Domo Deposit at Curipamba:

• CURI-378 intersected 16.86 metres of 3.38% copper, 8.07 g/t gold, 8.46% zinc, 138.6 g/t silver, and 0.81% lead for 11.55% CuEq – including 1.44 metres of 5.87% copper, 24.56 g/t gold, 8.94% zinc, 339.5 g/t silver, and 0.49% lead for 24.86% CuEq
• CURI-377 intersected 21.04 metres of 6.37% copper, 2.42 g/t gold, 4.46% zinc, 41.8 g/t silver, and 0.24% lead for 9.37% copper equivalent ("CuEq") – including 4.20 metres of 13.43% copper, 1.34 g/t gold, 6.20% zinc, 17.5 g/t silver, and 0.01% lead for 16.08% CuEq
• CURI-390 intersected 11.90 metres of 3.97% copper, 5.65 g/t gold, 4.59% zinc, 85.9 g/t silver, and 0.41% lead for 9.18% CuEq – including 1.80 metres of 6.50% copper, 22.68 g/t gold, 18.76% zinc, 388.2 g/t silver, and 2.13% lead for 28.00% CuEq
• Restarted regional exploration drilling on the El Panecillo target – approximately 1.5 km east of El Domo

Drill hole CURI-377 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the semi-massive to massive sulphide from 46.05 to 47.26 metres, grading 0.74% copper, 0.42 g/t gold, 0.34% zinc, 11.8 g/t silver, and 0.05% lead (1.18% CuEq). Semi-massive to massive sulphide mineralization was intersected from 47.26 to 68.30 metres, grading 6.37% copper, 2.42 g/t gold, 4.46% zinc, 41.8 g/t silver and 0.24% lead (9.37% CuEq). A higher-grade subset was intersected from 60.92 to 65.12 metres, grading 13.43% copper, 1.34 g/t gold, 6.20% zinc, 17.5 g/t silver, and 0.01% lead (16.08% CuEq).

CURI-378 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the semi-massive to massive sulphide from 50.57 to 58.52 metres, grading 0.31% copper, 0.68 g/t gold, 0.68% zinc, 16.7 g/t silver, and 0.05% lead (1.02% CuEq). A higher-grade subset was intersected from 56.59 to 58.52 metres, grading 0.95% copper, 2.38 g/t gold, 1.95% zinc, 55.9 g/t silver and 0.14% lead (3.31% CuEq). Semi-massive to massive sulphide mineralization was intersected from 64.45 to 81.31 metres, grading 3.38% copper, 8.07 g/t gold, 8.46% zinc, 138.6 g/t silver and 0.81% lead (11.55% CuEq). Two higher-grade subsets occur in this intercept, from 64.45 to 65.89 metres and then from 69.68 to 81.31 metres. The first intercept is semi-massive sulphide mineralization grading 5.87% copper, 24.56 g/t gold, 8.94% zinc, 339.5 g/t silver and 0.49% lead (24.86% CuEq). The second intercept is massive sulphide mineralization grading 3.87% copper, 7.04 g/t gold, 9.68% zinc, 120.5 g/t silver and 0.87% lead (11.68% CuEq).

CURI-379 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive sulphide from 111.24 to 119.35 metres, grading 0.03% copper, 1.37 g/t gold, 0.05% zinc, 5.1 g/t silver, and 0.01% lead (0.85% CuEq). The drill hole intersected two intervals of massive sulphide mineralization, first from 119.35 to 132.75 metres, grading 2.59% copper, 1.55 g/t gold, 0.46% zinc, 11.5 g/t silver, and 0.03% lead (3.68% CuEq) with a higher-grade subset from 126.38 to 131.00 metres, grading 3.71% copper, 1.70 g/t gold, 0.50% zinc, 15.0 g/t silver and 0.04% lead (4.92% CuEq). The second intercept of massive sulphide mineralization occurs from 141.00 to 143.87 metres, grading 5.71% copper, 0.97 g/t gold, 0.09% zinc, 12.2 g/t silver and 0.03% lead (6.38% CuEq). Between the two massive sulphide intercepts is a section of mineralized felsic autoclastic volcanic rocks was intersected from 132.75 to 141.00 metres, grading 0.16% copper, 1.22 g/t gold, 0.08% zinc, 3.6 g/t silver, and 0.01% lead (0.89% CuEq).

CURI-390 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the semi-massive to massive sulphide from 95.07 to 99.80 metres, grading 0.04% copper, 1.10 g/t gold, 0.04% zinc, 7.8 g/t silver, and 0.02% lead (0.73% CuEq). Massive sulphide mineralization was intersected from 99.80 to 111.70 metres, grading 3.97% copper, 5.65 g/t gold, 4.59% zinc, 85.9 g/t silver and 0.41% lead (9.18% CuEq). A higher-grade subset occurs from 99.80 to 101.60 metres, grading 6.50% copper, 22.68 g/t gold, 18.76% zinc, 388.2 g/t silver and 2.13% lead (28.00% CuEq). A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 111.70 to 137.70 metres, grading 0.19% copper, 0.48 g/t gold, 0.09% zinc, and 5.3 g/t silver and 0.01% lead (0.52% CuEq). A higher-grade subset occurs from 111.70 to 120.00 metres, grading 0.34% copper, 1.01 g/t gold, 0.26% zinc, 10.0 g/t silver and 0.02% lead (1.06% CuEq).

CURI-391 intersected semi-massive sulphide mineralization from 52.50 to 53.80 metres, grading 1.89% copper, 2.53 g/t gold, 19.54% zinc, 90.0 g/t silver, and 0.44% lead (9.68% CuEq). A section of weakly mineralized footwall felsic autoclastic volcanic rocks was intersected from 53.80 metres to 70.60 metres, grading 0.05% copper, 0.18 g/t gold, 0.38% zinc, and 5.0 g/t silver, and 0.04% lead (0.31% CuEq).

Drill holes CURI-371, CURI-375, CURI-376, CURI-380 and CURI-383 were designed for collection of geomechanical data to assist in future mine planning, as part of the ongoing feasibility study. Drill hole CURI-388 intersected a low-grade section of footwall mineralized felsic autoclastic volcanic rocks 102.04 to 112.39 metres, grading 0.04% copper, 0.17 g/t gold, 0.09% zinc, 4.0 g/t silver and 0.02% lead (0.21% CuEq) for an approximate true thickness of 6.73 metres.

All results from the completed infill definition drilling program are to be used in updating the Mineral Resource estimate for El Domo in 2021. The updated Mineral Resource estimate will be part of the ongoing feasibility study for the development of El Domo (see December 2, 2020 news release). Figure 1 illustrates the drill locations for the results of the ten drill holes outlined in this news release and the holes currently in the assay lab, or in progress. Drill collar location coordinates are summarized for the infill and geomechanical drilling programs in Table 1 at the end of this news release.

For reference, the last NI 43-101 Mineral Resource estimate for El Domo was published as part of the preliminary economic assessment report titled: "Technical Report on the Preliminary Economic Assessment for the Curipamba Project – El Domo Deposit, Central Ecuador", with an effective date of June 14, 2019 on SEDAR.

Curipamba – Regional Exploration Drilling Program Update

Upon completion of infill and geomechanical drilling required to support the ongoing Feasibility Study with a Mineral Resource estimate update and the provision of metallurgical samples (see December 2, 2020 news release), a drill rig was tasked to restart the regional exploration drilling program. A total of 4,000 metres is budgeted in 2021 with drilling having re-commenced on the El Panecillo target in late April 2021, approximately 1.5 kilometres east of El Domo. El Panecillo is a VMS target being drilled for the first time in the same favourable volcanic-sedimentary strata that hosts El Domo. The first drill hole, CREG-004, has been completed with CREG-005 in progress. Results from the regional exploration work program will be released after receipt from the laboratory and when results pass a rigorous internal quality assurance and quality control ("QAQC") processes.

The regional exploration drilling program started in October 2020 approximately 8 km southwest of El Domo (see December 21, 2020 news release) on the La Vaquera and Sesmo Sur targets. Two drill holes were completed on the La Vaquera target and one drill hole was completed on the Sesmo Sur target. Although propylitic alteration was observed in all three drill holes for these intrusion-related targets, no significant mineralization was encountered. As a result, the technical team has temporarily suspended drilling on the four remaining platforms in the La Vaquera-Sesmo Sur area while they conduct additional work to re-evaluate and better understand the favourable geology and mineral potential to determine the next steps.

Analytical results from the regional exploration drill holes will be released when they pass internal QAQC procedures. Figure 2 illustrates the drill locations for the results of the five drill holes outlined in this news release and the holes currently in the assay lab, or in progress. Drill collar location coordinates are summarized for the regional exploration drilling program in Table 2 at the end of this news release.

Technical Information and QAQC

The Curipamba project work program is being managed and reviewed by Vice President Exploration, Jason Dunning, M.Sc., P.Geo., a Qualified Person within the meaning of NI 43-101. Salazar staff collect and process samples that are securely sealed and shipped to Bureau Veritas ("BV") in Quito for sample preparation that includes crushing and milling to prepare pulps that are then split for shipment to their facility in Lima, Peru or Vancouver, Canada for analysis. All assay data have undergone internal validation of QAQC; noting there is an established sampling control program with blind insertion of assay blanks, certified industry standards and sample duplicates for the Curipamba project. A QAQC program is also in place at BV and includes insertion of blanks, standards, and duplicate reanalysis of selected samples.  BV’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. At BV, samples from the El Domo infill drilling have gold analyzed by classic fire assay techniques with an AAS finish, while silver and base metals are analyzed by a 44-element aqua regia technique with ICP-AES finish. For regional drilling, silver and base metals are analyzed by a 45-element 4 acid technique with ICP-MS finish. Overlimit protocols are in place for gold, silver, copper, lead, and zinc. 

Qualified Person

The technical information of this news release has been reviewed and verified as accurate by Mr. Jason Dunning, M.Sc., P.Geo., Vice President Exploration for Adventus, a non-Independent Qualified Person, as defined by NI 43-101.

About Adventus

Adventus Mining Corporation is an Ecuador focused copper-gold exploration and development company. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is advancing the El Domo copper-gold project through a feasibility study, while exploring the broader Curipamba district. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 Limited as funding partner as well as an investment portfolio of equities in several exploration companies. Adventus is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.        

About Salazar

Salazar Resources Limited 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% stake fully carried through to production.  At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that Adventus and Salazar expect or anticipate will or may occur in the future. Although Adventus and Salazar have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus and Salazar undertake to update any forward-looking information except in accordance with applicable securities laws.

Table 1: Drill Collar Information for Infill Drill Holes at El Domo

Table 2: Drill Collar Information for Regional Exploration Drill Holes at Curipamba Project

SOURCE Adventus Mining Corporation