Orosur Announces That Its Brokered LIFE Private Placement is Oversubscribed and Fully Allocated

Orosur Mining Inc. announced that its previously announced best-efforts private placement is oversubscribed and fully allocated. The company intends to raise gross proceeds of up to C$14,000,000 through the sale of up to 43,750,000 units at C$0.32 per unit. The agent holds an option to purchase up to an additional 6,250,000 units for up to C$2,000,000.

Each unit consists of one common share and one-half of one common share purchase warrant. Warrant terms include an exercise price of US$0.32, exercisable from 61 days following closing until 24 months following closing.

Net proceeds will be used principally to advance the Anza exploration project in Colombia, specifically drilling at the El Cedro target, with remaining funds for general working capital. Proceeds are expected to fund operations into late 2027. Closing is scheduled on or around October 6, 2026, subject to TSX-V and AIM approvals.

Orosur Mining Inc. completed a financing that serves as a routine follow-up to its September 22 announcement. The transaction involved the issuance of 43.75 million new shares at a unit price of C$0.32, a figure slightly above the recent trading range of $0.27 to $0.28. The oversubscription of the offering indicates baseline investor appetite despite a challenging market environment, while the elevated unit price provides a near-term price floor.

The capital raise extends the company’s cash runway to late 2027, mitigating immediate going-concern risks previously flagged in the Management’s Discussion and Analysis. The financing does not materially change the exploration thesis, with execution risk remaining tied to future drilling results. The news is considered incremental and expected.

Orosur Mining Inc. (OMI) is a pre-revenue gold explorer with projects in Colombia and Argentina. Its flagship Anza Project covers approximately 330-530 km² in the Mid-Cauca belt. In February 2026, the company announced a maiden Mineral Resource Estimate for Anza, reporting 1.14 million tonnes at 5.46 g/t gold for an Indicated resource of approximately 201,000 ounces of gold. The project is advancing toward feasibility and permitting.

The company also operates the Apta high-grade epithermal system, where drilling has identified larger and higher-grade zones than previously modeled. At El Cedro, a porphyry and hydrothermal target, the first drill hole (CED001) returned 61.35 meters at 0.93 g/t gold. Additionally, Orosur is 100% owner of the El Pantano low-sulphidation epithermal system following the completion of a joint venture. To date, 24 holes totaling 5,533 meters have been drilled at El Pantano.