VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / New Destiny Mining Corp. (TSXV:NED), (the "Company" or "NED") is pleased to announce that it has arranged a non-brokered private placement of up to 2 million flow through units at a price of Cdn$0.10 per unit for gross proceeds of $200,000. Each Flow-Through Unit consists of one common share that qualifies as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 18 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.15 per share. The proceeds of the private placement will be used for continued exploration work at the Company's Treasure Mountain property.

A finder's fee may be paid to eligible finders in accordance to the TSX-V policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings and payment of finders' fees are both subject to approval by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

"Al Beaton"
Director
604-488-3900

Forward Looking Information

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. 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, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither 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 release

SOURCE: New Destiny Mining Corp.

ReleaseID: 618784

65 line kilometres of UAV Magnetometer survey completed
Survey highlights Henning-Maloney and Rio Gold Mine targets
Survey highlights multiple structures and additional drill targets

VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF) is pleased to present the results of an airborne UAV magnetic survey on the Company's Bootleg Lake project located in Saskatchewan, approximately 7 kilometres southwest of the Flin Flon Mining camp.

As previously announced, Searchlight commissioned Axiom Geological Group to conduct a UAV Magnetometer survey targeting two priority areas within the 49.9 sq. km Bootleg Lake claims. The survey covered a 1.53 square kilometre area surrounding Rio and Henning-Maloney past-producing gold mines with a total of 64-line kilometres of data, at 25 metre line spacing (Map 1). This work is in preparation for a 2021 drilling program at Henning-Maloney.

As part of the Magnetic data interpretation, Searchlight utilized a Grid Analysis system that analyses the texture of the potential field magnetic data to detect areas of structural complexity, which assists in the location of potential deposit occurrences. Magnetic field data delineates the geological structures and is best suited for this purpose. Grid Analysis then identifies regions of discontinuity, and analyses structural associations to locate crossings, junctions and change of direction in strike. Finally, by measuring the density of structural contacts and the diversity in the strike structures as a heat map, it facilitates picking the areas that are perceived to be prospective (Map 2).

"The survey produced high quality results with the heat map highlighting both the Rio and Henning- Maloney targets as structurally complex areas, and excellent target zones for gold exploration", stated Stephen Wallace, CEO. "The survey has also identified targets associated with the Rio fault system that warrant future follow up", he added.

Map1: UAV Magnetometer Data – Residual Magnetic Intensity (RMI)

The Henning-Maloney and Rio gold targets are located approximately one kilometre apart within the Bootleg Lake claims. These claims host 4 past producing gold mines, three of which – Henning-Maloney, Rio and Wekach – are all connected by the Rio Fault system. Additional gold and base metal targets are also present along this fault system.

Map 2: Heat Map – Grid Analysis showing zones of structural complexity

Qualified Person

Peter Dueck, P.Geo., is Searchlight's Qualified Person for this press release within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. Mr. Dueck is Director of Searchlight Resources and Chief Business Officer and Principal Geophysicist at Axiom Exploration Group. Mr. Dueck has been involved in the resource exploration industry in Saskatchewan since 2001, and until 2018, he held the position of Chief Geophysicist for Hudbay Minerals Inc. in Flin Flon, Manitoba.

About Searchlight Resources Inc.

Searchlight Resources Inc. (TSX.V:SCLT; US:CYNCF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on gold and battery minerals throughout the Province, concentrating on projects with road access.

Searchlight holds a 427.6 square kilometre land position within the gold and base metal rich Flin Flon – Snow Lake Greenstone Belt. The Company is currently advancing its Bootleg Lake Gold Project located in Saskatchewan, less than 10 km from Flin Flon, Manitoba, and which hosts four past producing high-grade gold mines.

On behalf of the Board of Directors,

"Stephen Wallace"
Stephen Wallace, President, CEO and Director

SEARCHLIGHT RESOURCES INC.

For further information, visit the Company's website at www.searchlightresources.com or contact:

Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
(604) 331-9326
info@searchlightresources.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

NEITHER 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 RELEASE.

SOURCE: Searchlight Resources Inc

ReleaseID: 618731

VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / Belmont Resources Ltd is pleased to announce that permit approval has been granted by the British Columbia Ministry of Energy and Mines for drilling on the Company's A-J gold project, located in southern British Columbia. This is a five-year area-based permit covering surface exploration and drilling.

A-J Mines & Mineralized Trends

Further to receipt of the permit, the Company will undertake a 2,000-metre drilling program to test a strong coincident resistivity-chargeability anomaly situated 150 meters beneath two mineralized gold trends including the former producing Athelstan and Jackpot gold mines.

The East-West ‘A-J' mineralized trend extends over an approximate area of 240 by 1,000 metres and includes the past producing Athelstan and Jackpot gold mines which collectively produced 7,600 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The A-J Group was one of the most productive gold mines in the Greenwood mining district of southern British Columbia.

A-J Trend 3DIP Resistivity Cross Section

The second is the North-South ‘Contact' mineralized gold trend. Past trenching and sampling in this trend has identified three mineralized gold zones; J34, J12 & ‘A' Zones. Sampling has returned gold grades as high as 35.2 g/t Au over 3.0 meters (2002 chip sampling[1]).

Both mineralized trends are defined by strong resistivity anomalies. The resistivity high anomalies are interpreted as representing silica altered rock which includes quartz veining and listwanite. Listwanite is a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville districts of British Columbia as well as the Motherlode District in California

A-J Trend Chargeability Cross Section

3D-IP sections along the two trends indicate potential altered silica feeders to the two mines as well as other areas along the trends.

The resistivity anomalies are underlain at depth by a strong chargeability anomaly, measuring 800 x 1000m and at a depth of approximately 150m below the two mineralized trends.

On surface, disseminated sulfides occur within dykes and tongues of altered porphyritic intrusive that both cut and underlie the north-dipping band of listwanite.

A-J Trend Coincident Chargeability-Resistivity Anomaly

The large chargeability anomaly may reflect important mineralization within a large intrusive body and could be the causative source of mineralization at surface.

George Sookochoff, President & CEO commented "The historic gold miners have mined an extensive amount of gold and silver from relatively shallow underground mines. Our recent LIDAR, magnetic and 3D-IP surveys have delineated a large target 150m below their mines which may be the source of gold they mined at surface."

"But ultimately drilling will tell and that's what we are now prepared to do!"

About Belmont Resources Inc.

Belmont Resources is a junior mining company engaged in the business of acquiring past producing gold-copper mineral properties located in the highly prospective Greenwood-Republic mining camps. Belmont is utilizing new exploration technology as well as new geological modelling to identify gold-copper mineralized feeder systems to the relatively shallow historic mines.

The Company's project portfolio includes:

– Athelstan & Jackpot Gold mines (Athelstan-Jackpot property – 100%)

– Bertha & Pathfinder Gold-Silver mines (Pathfinder property – 100%).

– Betts Copper-Gold mine (Come By Chance property – 100%)

– Lone Star Copper-Gold mine (Lone Star Property – LOI)

Belmont Property Map

Qualified Person

Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

"George Sookochoff"

George Sookochoff, CEO/President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the 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 may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2020, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

[1] Caron, L., 2003. Assessment Report on the Athelstan-Jackpot Property, Trenching and Rock Sampling, for M. Hallauer and T. Hallauer. BC MEMPR Assessment Report 27302.

SOURCE: Belmont Resources Inc.

ReleaseID: 618728

VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce that it has produced additional samples of acid-grade fluorspar concentrate from the Ashram Rare Earth and Fluorspar Deposit, Quebec. The test work on fluorspar recovery is being carried out by Hazen Research, CO, USA, which is also developing the primary rare earth element (REE) recovery flowsheet.

Previous test work has demonstrated the ability to achieve fluorspar grades as high as 98% CaF2, as well as standard specifications for SiO2, Al2O3, Cl, Be, Cd, Pb, As, and Hg (see news releases dated February 28th and September 24th, 2020). The Company is pleased to report that the recent bench test work has produced additional acid-grade samples >98% CaF2. The results demonstrate that acid-grade fluorspar can be produced from Ashram Deposit material, where the starting head-grade is ~7.5% CaF2.

The specifications and impurity tolerances in the acid-spar industry may vary widely depending on the final application; however, a key requirement to obtain is the CaF2 purity – typically >97%. Based on the bench level test work completed to date, the Company is confident that it can attain this base level purity of ~97% CaF2, as well as other key specifications, that will allow for a marketable product to a variety of end-users and associated applications.

There are currently two flowsheet approaches being advanced to produce acid-grade fluorspar from the Ashram Deposit, with the results herein produced using a front-end flotation/leach/magnetic process. An alternative approach is also being developed which uses the tailings stream from the primary REE concentrate, where the fluorspar passively upgrades throughout the REE processing circuit. In both cases, the recovery of fluorspar from the Ashram Deposit has been approached as a secondary objective to the primary REE recovery. Further, depending on the approach for fluorspar recovery, impurity removal may also increase overall REE recovery in the flowsheet.

In addition to being one of the largest rare earth deposits globally, the Ashram Deposit is also one of the largest fluorspar deposits globally. The production of REEs and fluorspar are currently dominated by China, placing Ashram in a unique position to potentially address the supply concerns of these two critical commodities. Both REEs and fluorspar are considered critical / strategic commodities by the US Department of the Interior, the European Union, and the Province of Quebec, Canada.

Fluorspar Market

Fluorspar (CaF2) is an essential raw material to the steel, aluminum, and chemical industries in two marketable products; acid spar grade and met spar grade.

Acid-spar (>97% CaF2), accounting for roughly sixty percent of the market, is primarily used to synthesise hydrofluoric acid (HF) and subsequent fluorochemicals, and in the production of aluminum metal, to reduce process temperatures and energy consumption. It is also a key raw ingredient of materials used in enhancing the operational performance of lithium-ion batteries.

Met-spar (>60% CaF2), accounting for roughly forty percent of the global fluorspar market, is primarily used as a flux in the steel making process to lower the melting temperature, to reduce slag viscosity, and remove impurities.

Similar to the prevailing dynamics for rare earth elements, China was historically the largest exporter of fluorspar. However, in the last 3 years, China has become a net importer. This has caused significant price appreciation for fluorspar, and market interest from industry in new sources.

NI 43-101 Disclosure

Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

About Commerce Resources Corp.

Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

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

Forward Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include that the Company can attain this base level purity of ~97% CaF2, as well as other key specifications, that will allow for a marketable product; that impurity removal may also increase overall REE recovery; and that Ashram is in a unique position to potentially address the supply concerns of REE and Fluorspar, two critical commodities. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Commerce Resources Corp.

ReleaseID: 618476

Increases its sizeable strategic position in sought after frontier exploration region

TORONTO, ON / ACCESSWIRE / November 30, 2020 / Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSXV:EOG), an oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, has successfully negotiated the reissuance of its four licences in the Walvis Basin, Offshore Namibia conditional to customary final government signature. The Company has agreed terms and conditions and been awarded the four new Petroleum Exploration Licenses ("PEL's") on its existing offshore blocks, leading to the expansion of its acreage position:

Licence

Size of acreage

Block reference

Licence ownership

Controlling interest

Cooper

5,788 Km2

Block 2012A

54.3% WI

Operator

Sharon

5,700 Km2

Block 2213

56.7% WI

Operator

Guy

11,457 Km2

Blocks 2111B & 2211A

47.2% WI

Majority Partner

Tamar

5,648 Km2

Blocks 2211B & 2311A

85% WI

Operator

Eco has negotiated the reissuance and establishment of a new 10-year life cycle for each of the four PEL's. Each license has a participation of a standard 10% Working Interest ("WI") with NAMCOR, Namibia's National Petroleum Corporation and in keeping with the Company's support of local interests, Eco has negotiated and established a 5% WI with local Namibian business partners on each block. Azinam Group also participates in a minority capacity on the Cooper, Sharon and Guy Blocks.

With the establishment of the new PEL's, the Company has doubled the size of its Guy block acreage, increasing the potential for new prospective targets in the deeper horizon to the West of the block. The new PELs cover approximately 28,593 km2, with over 2.362 Billion BOE of prospective P50 resources.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

"Successfully renegotiating our four licences offshore Namibia and being awarded over 28,500 km2 in one of the most exciting exploration hotspots in the world is a significant milestone for Eco. Participation in the regional exploration with a number of the major IOCs now in Namibia, and having the Namibia Ministry of Mines and Energy acknowledge both our long term investment and our contribution to the fundamental exploration of the region, is very meaningful, both for us as a business and an explorer.

"Eco has made a significant investment in these offshore blocks in the Walvis Basin to date and we have been able to increase our already substantial footprint (now the second largest after ExxonMobil) in a highly prospective region that has attracted the interest of a number of the major IOCs.

"The recent wildcat discoveries in South Africa and the entry into Namibia by ExxonMobil, Total, Qatar Petroleum and Shell over the last few years give us significant confidence that further discoveries will soon be made in Namibia. Near term, we look forward to drilling campaigns planned by Total, Shell, M&P, and ExxonMobil. These companies are amongst the leading oil finders in the world. The new licenses represent a strategic value creation opportunity for Eco Atlantic, amid the increased interest in the area."

Colin Kinley Chief Operating Officer of Eco Atlantic Commented:

"We have demonstrated our capacity at Eco, through our opportunistic negotiations and deal flow, to maintain a path for growth while protecting both our strong balance sheet and our resources. The new exploration life cycle which we have and our well thought out exploration and de-risking strategy supports both our stakeholders and the people of Namibia.

"Like Namibia, in Guyana our path remains unaltered. We defined the opportunity, negotiated the Orinduik Licence and brought in material partners for both their technical and economic contribution, and we have carefully maintained our independence and ability to drive through to drilling without being anchored by partners budget or ambitions. In all our agreements, we maintain optionality and our own ability to drive the process. As the majority stakeholder and controlling interest in all of our Namibian blocks, we welcome leading-edge exploration partners to bring their contribution to our ultimate ambition of discovery in the country, while also maintaining our strong independent business values.

"We very much appreciate the support of the Namibian Ministry of Mines and Energy and our partners and we look forward to keeping all our stakeholders appraised of developments over the coming months."

**ENDS**

For more information, please visit www.ecooilandgas.com or contact the following:

Eco Atlantic Oil and Gas

c/o Celicourt +44 (0) 20 8434 2754

Gil Holzman, CEO, Director

Colin Kinley, COO, Director

Alice Carroll, Head of Marketing and IR

+44(0)781 729 5070 | +1 (416) 318 8272

Strand Hanson Limited (Financial & Nominated Adviser)

+44 (0) 20 7409 3494

James Harris

James Bellman

Berenberg (Broker)

+44 (0) 20 3207 7800

Matthew Armitt

Detlir Elezi

Celicourt (PR)

+44 (0) 20 8434 2754

Mark Antelme

Jimmy Lea

Hannam & Partners (Research Advisor)

Neil Passmore

+44 (0) 20 7905 8500

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Notes to editors:

About Eco Atlantic:

Eco Atlantic is a TSX-V and AIM quoted Oil & Gas exploration and production Company with interests in Guyana and Namibia, where significant oil discoveries have been made.

The Group aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in stable emerging markets, in partnership with major oil companies, including Tullow, Total and Azinam.

In Guyana, Eco Guyana holds a 15% Working Interest alongside Total (25%) and Operator Tullow Oil (60%) in the 1,800 km2 Orinduik Block in the shallow water of the prospective Suriname-Guyana basin. The Orinduik Block is adjacent and updip to ExxonMobil Operated Stabroek Block, on which eighteen discoveries have been announced and over 9 Billion BOE of oil equivalent recoverable resources are estimated. First oil production commenced in December 2019 from the deep-water Liza Field, less than three years from FID.

Jethro-1 was the first major oil discovery on Orinduik Block. The Jethro-1 encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower Tertiary sandstone reservoirs which further proves recoverable oil resources. Joe-1 is the second discovery on the Orinduik Block and comprises high quality oil-bearing sandstone reservoir with a high porosity of Upper Tertiary age. The Joe-1 well encountered 52 feet (16 meters) of continuous thick sandstone which further proves the presence of recoverable oil resources.

In Namibia, the Company holds interests in four offshore petroleum licenses totalling approximately 28,593km2 with over 2.362bboe of prospective P50 resources in the Walvis Basin. These four licenses, Cooper, Guy, Sharon and Tamar are being developed alongside partners Azinam and NAMCOR. Eco has been granted a drilling permit on its Cooper Block (Operator).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Eco (Atlantic) Oil and Gas Ltd.

ReleaseID: 618733

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS (AS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933 (AS AMENDED)) OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

Share placement raises £4 million
Appointment of joint broker
Drilling commenced in Colombia

LONDON, UK / ACCESSWIRE / November 30, 2020 / Orosur Mining Inc. ("Orosur" or the "Company") (TSX:OMI)(AIM:OMI), announces that it has raised the sum of £4 million (before expenses) through an oversubscribed placing of 23,529,412 new common shares of no par value ("Placing Shares" or "New Common Shares") at a price of 17 pence per Placing Share ("Placing Price"), together with a grant of one unlisted warrant ("Warrant") for every two Placing Shares subscribed for (together the "Placing"). Completion of the Placing is subject amongst other things to admission of the New Common Shares to trading on AIM ("Admission").

The net proceeds of the Placing will be used to fund the general working capital of the Company, to strengthen the Company's position in relation to the Anzá project and to allow the Company to evaluate and potentially pursue other attractive exploration projects.

Details of the Placing

The Placing Price represents a discount of approximately 22 per cent. to the 5 day VWAP of the common shares up to and including 27 November 2020, and a discount of approximately 30 per cent to the closing mid-market price of 24.5 pence per common share on 27 November 2020, being the last trading day prior to the release of this announcement of the Placing.

The Placing Shares will, when issued, represent approximately 14.4 per cent of the existing common shares and will represent approximately 12.6 per cent. of the enlarged share capital of the Company.

Appointment of Joint Broker

The Placing was undertaken by Turner Pope Investments (TPI) Ltd ("Turner Pope or TPI"), which has been appointed as Joint Broker to the Company.

Placing Agreement, Admission and Total Voting Rights

The Company and Turner Pope have entered into a placing agreement ("Placing Agreement") pursuant to which Turner Pope agreed to use its reasonable endeavours to procure placees pursuant to the Placing. The Placing Agreement contains certain warranties and indemnities given by the Company in favour of Turner Pope. It also contains provisions entitling Turner Pope to terminate the Placing Agreement prior to Admission if, among other things, a breach of any of the warranties occurs.

Completion of the Placing is subject amongst other things to the 23,529,412 New Common Shares being admitted to trading on AIM and is also conditional upon the Placing Agreement becoming unconditional in all respects and not being terminated in accordance with its terms. Application will be made for Admission. It is expected that Admission will become effective at 8.00am (GMT) on or around 7 December 2020. The Company has relied upon the exemption described in Section 602.1 of the TSX Company Manual with respect to TSX private placement rules since the Company qualifies as an Eligible Interlisted Issuer.

Following the issue of the 23,529,412 New Common Shares, which on Admission will rank pari passu with the existing common shares, the total number of common shares in issue with voting rights in the Company will be 187,058,753.

The above figure of 187,058,753 common shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Principal Terms of the Warrants

The Warrants are constituted pursuant to a Warrant Indenture to be entered into between the Computershare Trust Company of Canada and the Company.

The principal terms of the Warrants are as follows:

a) a holder of Warrants (a "Warrantholder") will have the right at any time prior to 7 December 2022 upon written notice to subscribe for new common shares on the basis of one new common share for each Warrant held, at 25.5 pence per new common share;

b) the Warrants will not be listed or admitted to trading on any exchange, including without limitation AIM or TSX; and

c) the subscription rights under the Warrants will be subject to adjustment in the event of various corporate actions affecting the share capital of the Company.

Commencement of Drilling in Colombia

As previously announced on 10 November 2020, the first drilling rig had arrived on site at the Anzá project and planning was underway to commence drilling as soon as possible.

The Company is pleased to announce that drilling at the Anzá project commenced as planned on 15 November 2020 and is progressing well.

A second drilling rig has now arrived on site and once the required logistical requirements are fully in place, it is anticipated that this rig will commence operation within the next seven days.

Orosur CEO Brad George commented:

"We are pleased and excited by the positive response from the investment community, as testament to how well the Anzá project is viewed. This oversubscribed placement strengthens our balance sheet and will allow us to sustain our position with respect to the Anzá JV for some considerable time as the current drilling program ramps up and continues into 2021."

For further information, please contact:

Orosur Mining Inc

Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100

SP Angel Corporate Finance LLP – Nomad & Joint Broker

Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470

Turner Pope Investments (TPI) Ltd – Joint Broker

Andy Thacker
Tel: +44 (0)20 3657 0050

Flagstaff Communications and Investor Communications

Tim Thompson
Mark Edwards
Fergus Mellon
orosur@flagstaffcomms.com
Tel: +44 (0)207 129 1474

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

About Orosur Mining Inc.

Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.

Forward Looking Statements

All statements, other than statements of historical fact, contained in this news release constitute "forward looking statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release.

Forward-looking statements include, without limitation, statements relating to completion of the Placing, the use of proceeds and the exploration plans in Colombia. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward looking statements. Such statements are subject to significant risks and uncertainties including, but not limited, those as described in Section "Risks Factors" of the MDA and the Annual Information Form. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.

Important Information

Neither this announcement nor any copy of it may be made or transmitted into the United States, or distributed, directly or indirectly, in the United States. Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into Australia, the Republic of South Africa, New Zealand, Japan or to any persons in any of those jurisdictions, except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States, Australian, South African, New Zealand or Japanese securities laws or the securities laws of any other jurisdiction (other than the United Kingdom and Canada). The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe any such restrictions. This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for securities in the United States, Australia, Canada, the Republic of South Africa, New Zealand, Japan, or in any jurisdiction in which such offer or solicitation is unlawful.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Orosur Mining Inc

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