Orosur Mining's Aug. 31 cash balance at $3.9M (U.S.)

Executive Summary

• Orosur Mining Inc. reported its unaudited financial results for the first quarter ended August 31, 2025, highlighting operational progress in Colombia and Argentina, the withdrawal from its Nigeria lithium project, and a significant post-period private placement.
• The company completed a $20-million CAD upsized brokered private placement on October 2, 2025, raising gross proceeds of $20-million CAD through the issuance of 58,823,530 common shares at 34 cents per share, with no warrants issued.
• Operational highlights include the initiation of an infill drilling program at the Pepas gold prospect in Colombia, the transition to 100% ownership of the El Pantano project in Argentina following a $1-million US earn-in, and the full impairment of the Nigeria lithium investment.

Key Details

• Financial Position (Q1 2025):
  • Cash balance as of August 31, 2025: $3,906,000 USD (down from $4,877,000 USD as of May 31, 2025).
  • Cash balance including funds from the subsequent private placement: $17.2 million USD.
• Private Placement Details:
  • Announced: September 18, 2025.
  • Completed: October 2, 2025.
  • Gross Proceeds: $20 million CAD.
  • Shares Issued: 58,823,530 common shares.
  • Price Per Share: 34 Canadian cents.
  • Terms: Brokered private placement, oversubscribed, no warrants issued.
• Colombia Operations (Anza Project):
  • Pepas Prospect: Formal decision made on July 14, 2025, to begin a work program for a mineral resource estimate based on external conceptual studies suggesting near-term production potential. Infill drilling continued throughout the quarter and post-period-end.
  • Apta Prospect: Exploration drilling to follow the Pepas resource estimate.
  • El Cedro Prospect: Large ridge-and-spur soil sampling program recommenced and is 90% complete (continued post-period-end). Geological mapping and sampling nearing completion; historical geophysics being reprocessed.
• Argentina Operations (El Pantano Project):
  • Joint Venture Status: Company earned a direct 51% interest in Deseado Dorado SAS (owner of exploration licenses) after investing $1 million USD over three years.
  • Phase 2: Company moves to 100% ownership upon an additional $2 million USD investment over two years.
  • Royalty Terms: Original vendors retain a 2% NSR royalty; company may repurchase 1% of this royalty for $1 million USD.
  • Exploration: Geophysical campaign completed during the quarter. A 3,000-metre diamond drilling program is expected to commence imminently.
• Nigeria Operations:
  • Withdrawal: Decision made to withdraw from the lithium project due to weak lithium prices and capital prioritization. Withdrawal to occur over the next few weeks.
  • Financial Impact: Investment fully impaired in financial statements as of May 31, 2025.
• Outlook:
  • Focus on investment in Colombia and Argentina.
  • Looking for new opportunities in South America.
  • Colombia: Complete Pepas infill drilling for maiden resource estimate; investigate Apta resource estimate; refine geological models.
  • Argentina: Commence 3,000-metre drilling program at El Pantano.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.