2021 News

Toronto, April 6, 2021 Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN, OTCQX: ADVZF) and Salazar Resources Limited (“Salazar”) (TSX-V: SRL, OTCQB: SRLZF) (collectively the “Partners”) are pleased to announce additional infill drilling results from the El Domo volcanogenic massive sulphide deposit located within the 21,537-hectare Curipamba project in central Ecuador. Infill drilling for the ongoing feasibility study is completed at El Domo for 53 infill definition drill holes totaling 5,348 metres.

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

  • CURI-361 intersected 55.43 metres of 1.50% copper, 0.72 g/t gold, 0.27% zinc, 7.7 g/t silver, and 0.02% lead for 2.10% copper equivalent (“CuEq”) – including 16.79 metres of 3.81% copper, 1.11 g/t gold, 0.41% zinc, 10.5 g/t silver, and 0.02% lead for 4.72% CuEq
  • CURI-364 intersected 14.94 metres of 6.49% copper, 1.64 g/t gold, 1.52% zinc, 35.5 g/t silver and 0.16% lead for 8.34% CuEq – including 5.90 metres of 14.29% copper, 2.11 g/t gold, 1.95% zinc, 34.3 g/t silver, and 0.16% lead for 16.54% CuEq

Drill hole CURI-361 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive sulphide from 107.90 to 108.85 metres, grading 0.22% copper, 0.57 g/t gold, 0.62% zinc, 10.8 g/t silver, and 0.05% lead (0.87% CuEq). A thick section of massive sulphide mineralization was intersected from 108.85 to 164.28 metres, grading 1.50% copper, 0.72 g/t gold, 0.27% zinc, 7.7 g/t silver and 0.02% lead (2.10% CuEq). A higher-grade subset occurs from 119.85 to 136.64 metres, grading 3.81% copper, 1.11 g/t gold, 0.41% zinc, 10.5 g/t silver, and 0.02% lead (4.72% CuEq).

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-361

107.90

108.85

0.95

0.22

0.57

0.62

10.8

0.05

0.87

0.81

 

108.85

164.28

55.43

1.50

0.72

0.27

7.7

0.02

2.10

47.12

Including

119.85

136.64

16.79

3.81

1.11

0.41

10.5

0.02

4.72

14.27

Including

132.26

135.79

3.53

7.50

2.05

0.05

11.1

0.01

8.87

3.00

  1. Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated March 12, 2021.

CURI-362 intersected a narrow section of massive sulphide mineralization from 73.60 to 75.48 metres, grading 1.03% copper, 5.60 g/t gold, 18.08% zinc, 137.6 g/t silver, and 0.62% lead (11.51% CuEq). A section of low-grade, mineralized felsic autoclastic volcanic rocks was intersected from 75.48 to 85.55 metres, grading 0.05% copper, 0.07 g/t gold, 0.53% zinc, 2.5 g/t silver, and 0.04% lead (0.29% CuEq).

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-362

73.60

75.48

1.88

1.03

5.60

18.08

137.6

0.62

11.51

1.41

 

75.48

85.55

10.07

0.05

0.07

0.53

2.5

0.04

0.29

7.55

  1. Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated March 12, 2021.

CURI-364 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive sulphide from 111.00 to 115.46 metres, grading 1.61% copper, 1.19 g/t gold, 0.85% zinc, 21.7 g/t silver, and 0.13% lead (2.83% CuEq). Massive sulphide mineralization was intersected from 115.46 to 130.40 metres, grading 6.49% copper, 1.64 g/t gold, 1.52% zinc, 35.5 g/t silver, and 0.16% lead (8.34% CuEq). Two subsets of higher-grade massive sulphide mineralization were intersected from 115.46 to 118.24 metres and 124.50 to 130.40 metres.  The first intercept graded 1.63% copper, 1.40 g/t gold, 1.62% zinc, 33.2 g/t silver, and 0.12% lead (3.33% CuEq), and the second intercept graded 14.29% copper, 2.11 g/t gold, 1.95% zinc, 34.3 g/t silver, and 0.16% lead (16.54% CuEq). The drill hole was lost in a fault zone at 130.40 metres while still in mineralization and did not reach targeted completion depth.

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-364

111.00

115.46

4.46

1.61

1.19

0.85

21.7

0.13

2.83

3.57

 

115.46

130.40

14.94

6.49

1.64

1.52

35.5

0.16

8.34

11.95

Including

115.46

118.24

2.78

1.63

1.40

1.62

33.2

0.12

3.33

2.22

Including

124.50

130.40

5.90

14.29

2.11

1.95

34.3

0.16

16.54

4.72

  1. Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated March 12, 2021.

CURI-364-A was an attempted re-drill of CURI-364, however, it was also terminated in the same fault zone. It intersected mineralized grainstone in the hanging wall of the massive sulphide mineralization from 109.90 to 113.58 metres, grading 1.71% copper, 1.45 g/t gold, 1.13% zinc, 40.2 g/t silver and 0.09% lead (3.34% CuEq). Massive sulphide mineralization was intersected from 113.58 to 114.75 metres, grading 1.62% copper, 2.78 g/t gold, 10.24% zinc, 235.0 g/t silver and 1.45% lead (9.00% CuEq), but the drill hole re-entered mineralized grainstone from 114.75 to 120.77 metres, grading 1.00% copper, 1.74 g/t gold, 1.48% zinc, 37.7 g/t silver and 0.16% lead (2.91% CuEq). The drill hole was lost in a fault zone at 121.80 metres while still in mineralization and did not reach targeted completion depth.

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-364-A

109.90

113.58

3.68

1.71

1.45

1.13

40.2

0.09

3.34

2.94

 

113.58

114.75

1.17

1.62

2.78

10.24

235.0

1.45

9.00

0.94

 

114.75

120.77

6.02

1.00

1.74

1.48

37.7

0.16

2.91

4.82

  1. Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated March 12, 2021.

Drill holes CURI-363 and CURI-365 were designed to test the outer margins of the Indicated category material and to further assess the pit wall geology. These drill holes confirmed modelling previously done along the margins of the deposit and provide excellent geological control for future modelling studies. Drill hole CURI-363 intersected a thick section of mineralization in the footwall felsic autoclastic volcanic rocks from 54.54 to 90.95 metres with two intervals providing low-grade intercepts. The first intercept was from 54.54 to 59.68 metres, grading 0.06% copper, 0.19 g/t gold, 0.81% zinc, 12.0 g/t silver, and 0.18% lead (0.57% CuEq) over 3.34 metres approximate true thickness. The second intercept was from 69.62 to 84.89 metres, grading 0.05% copper, 0.02 g/t gold, 0.53% zinc, 0.8 g/t silver and 0.02% lead (0.24% CuEq) over 9.93 metres approximate true thickness.

Drill hole CURI-365 also intersected mineralization in the footwall felsic autoclastic volcanic rocks from 39.72 to 51.52 metres, grading 0.03% copper, 1.06 g/t gold, 0.34% zinc, 69.0 g/t silver, and 0.15% lead (1.45% CuEq) over 8.26 metres approximate true thickness. A high-grade subset occurs from 39.72 to 45.56 metres, grading 0.03% copper, 1.61 g/t gold, 0.42% zinc, 119.8 g/t silver, and 0.17% lead (2.29% CuEq) over 4.09 metres approximate true thickness.

All results from the current infill definition drilling program will be used to update the Mineral Resource estimate for the El Domo deposit in 2021. The updated Mineral Resource estimate will be part of the ongoing feasibility study for the development of the El Domo deposit (see December 2, 2020 news release). Figure 1 illustrates the drill locations for the results of the six 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.

Technical Information and Quality Control & Quality Assurance (“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 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, gold is 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. 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.

For further information from Adventus, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com. Please also visit the Adventus website at www.adventusmining.com.

For further information from Salazar, please contact ir@salazarresources.com.

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

Hole ID

EAST

NORTH

ELEV

AZIMUTH

DIP

DEPTH

COMMENT

CURI-391

655001

9854898

882

165

-65

70.6

Successfully completed per design

CURI-390

695109

9855451

953

170

-79

137.7

Successfully completed per design

CURI-389

694999

9855351

908

338

-70

64.5

Successfully completed per design

CURI-388

695051

9855474

930

165

-50.6

143.0

Successfully completed per design

CURI-387

695051

9855474

930

26

-49

112.3

Successfully completed per design

CURI-386

695100

9855600

943

230

-65

90.2

Successfully completed per design

CURI-385

695094

9855482

940

45

-54

128.0

Successfully completed per design

CURI-384

695054

9855642

923

136

-54

110.6

Successfully completed per design

CURI-383(1)

695373

9855400

995

270

-65

210.4

Successfully completed per design

CURI-382

695094

9855482

940

64

-48

156.5

Successfully completed per design

CURI-381

695214

9855602

949

197

-57

154.4

Successfully completed per design

CURI-380(1)

695375

9855000

1030

270

-70

250.1

Successfully completed per design

CURI-379

695094

9855482

940

167

-48

153.8

Successfully completed per design

CURI-378

695054

9855122

893

181

-57

113.1

Successfully completed per design

CURI-377

695054

9855122

893

55

-51

92.3

Successfully completed per design

CURI-376(1)

695361

9855100

1087

270

-70

275.4

Successfully completed per design

CURI-375(1)

695333

9855200

1057

270

-75

250.1

Successfully completed per design

CURI-374

695006

9855134

883

296

-45

120.6

Successfully completed per design

CURI-373

695094

9855482

940

103

-48

197.0

Successfully completed per design

CURI-372

695041

9854913

888

38

-45

106.3

Successfully completed per design

CURI-371(1)

695399

9855298

1016

270

-65

225.7

Successfully completed per design

CURI-370

695040

9854913

888

231

-74

86.2

Successfully completed per design

CURI-369

695094

9855482

940

142

-48

168.7

Successfully completed per design

CURI-368

695041

9854913

888

331

-58

113.6

Successfully completed per design

CURI-367

695006

9855134

883

196

-45

102.2

Successfully completed per design

CURI-366

694975

9854918

872

186

-72

74.5

Successfully completed per design

CURI-365

694934

9855242

874

151

-72

69.5

Successfully completed per design

CURI-364-A

695131

9855402

946

108

-60

121.8

Successful but lost in fault zone

CURI-364

695134

9855402

946

108

-60

130.4

Successful but lost in fault zone

CURI-363

694934

9855242

874

180

-54

95.0

Successfully completed per design

CURI-362

694975

9854918

872

288

-61

88.9

Successfully completed per design

CURI-361

695134

9855402

946

75

-54

172.8

Successfully completed per design

CURI-360

694934

9855242

874

25

-48

83.0

Successfully completed per design

CURI-359

695006

9855134

883

349

-69

86.5

Successfully completed per design

CURI-358

694934

9855082

867

255

-54

113.0

Successfully completed per design

CURI-357

695057

9855149

894

229

-74

105.0

Successfully completed per design

CURI-356

695006

9855134

883

241

-77

110.6

Successfully completed per design

CURI-355

695057

9855149

894

36

-45

86.3

Successfully completed per design

CURI-354

695057

9855149

894

55

-54

81.0

Successfully completed per design

CURI-353

695094

9855122

908

192

-45

97.4

Successfully completed per design

CURI-352

695057

9855149

894

306

-77

78.0

Successfully completed per design

CURI-351

695057

9855149

894

338

-59

77.0

Successfully completed per design

CURI-350

695094

9855122

908

180

-57

85.7

Successfully completed per design

CURI-349

695094

9855122

908

263

-51

130.2

Successfully completed per design

CURI-348

695094

9855082

910

276

-45

135.1

Successfully completed per design

CURI-347

695094

9855082

910

105

-54

91.0

Successfully completed per design

CURI-346

695094

9855082

910

52

-69

83.4

Successfully completed per design

CURI-345

695094

9855082

910

142

-48

95.7

Successfully completed per design

CURI-344

695094

9855082

910

360

-60

84.1

Successfully completed per design

CURI-343

695094

9855082

910

192

-45

142.0

Successfully completed per design

CURI-342

695041

9854913

888

346

-45

137.1

Successfully completed per design

CURI-341

695134

9854922

917

360

-60

117.4

Successfully completed per design

CURI-340

695134

9854922

917

360

-45

149.0

Successfully completed per design

Notes:

  1. Geomechanical drill hole for open pit engineering design purposes only; being drilled in addition to the Infill program
  2. All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)

Figure 1: Drill Collar Location Map for Drill Holes at El Domo

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