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Orosur Mining Inc Announces Results for the Third Quarter ended February 28
Orosur Mining Inc Announces Results for the Third Quarter ended February 28
LONDON, UK / ACCESS Newswire / April 29, 2026 / Orosur Mining Inc. ("Orosur" or "the Company") (TSX-V:OMI)(AIM:OMI) the minerals explorer and developer with operations in Colombia and Argentina, announces its unaudited results for the quarter ended February 28th, 2026. All dollar figures are stated in US$ unless otherwise noted.
The unaudited condensed interim financial statements of the Company for the quarter ended February 28th, 2026 and the related management's discussion and analysis ("MD&A") have been filed and are available for review on the SEDAR+ website at www.sedarplus.ca. The financial statements and the MD&A are also available on the Company's website at www.orosur.ca.
To view the PDF version of the financial statements please click here: http://www.rns-pdf.londonstockexchange.com/rns/2922C_2-2026-4-28.pdf
To view the PDF version of the MD&A, please click here http://www.rns-pdf.londonstockexchange.com/rns/2922C_1-2026-4-28.pdf
Both PDF version's of the MD&A and financial statements are available here: www.orosur.ca
Highlights
Highlights for the three months ended February 28th, 2026 include:
Operational
In Colombia, at the Anza Project, the Company completed its in-fill drilling program at Pepas and has declared a Maiden Resource Estimate of 219,000 ounces of gold. The Company is now drilling in the greater Pepas area with a view to refining its geological model and identifying potential future deposits. After the period end, the Company announced that it had identified a second area of mineralization some 100 metres to the West of Pepas. In APTA, to the south of the Pepas deposit, in the middle of the Company's licence area, drilling commenced post the period end to gain a better understanding of the geological controls ahead of a potential resource estimate later this year. And, to the south of APTA, geological mapping and sampling has been completed at El Cedro and the Company announced that new mapping and sampling had commenced post the period end at a new second porphyry identified to the south of El Cedro. New airborne geophysics is being flown to establish drilling targets at both El Cedro and in the new second porphyry identified to the south of El Cedro.
In Argentina, the Company's first drilling program for a total of circa 4,400 metres had been completed by the end of March 2026 at the El Pantano project and results are awaited. Interpretation of all new and historical data will inform a next phase of field work which may be commissioned later in the year, potentially ahead of a second drill program at the project.
Financial and Corporate
At the Company's AGM, held on December 17, 2025 all resolutions put to shareholders were duly passed. During the quarter, 3,171,898 warrants have been exercised raising $323,000 and 666,664 options have been exercised raising $29,000 for the Company. In addition, during the quarter, 85,000 RSUs were exercised by one of the non-executive Directors.
On February 28th, 2026, the Company had a cash balance of $13,650,000 (May 31, 2025 $4,877,000). As at the date of this MD&A the Company had a cash balance of $11,570,000
The unaudited condensed interim consolidated financial statements have been prepared on a going concern basis under the historical cost method except for certain financial assets and liabilities which are accounted for as Assets and Liabilities held for sale (at the lower of book value or fair value) and Profit and Loss from discontinuing operations. This accounting treatment has been applied to the activities in Uruguay and Chile.
Condensed Interim Consolidated Statements of Financial Position | ||
(Expressed in thousands of United States dollars) | ||
Unaudited | ||
As at February 28, 2026 $ | As at May 31, 2025 $ | |
ASSETS | ||
Current assets | ||
Cash | 13,650 | 4,877 |
Restricted cash | 12 | 12 |
Accounts receivable and other assets | 1,012 | 434 |
Assets held for sale in Uruguay | 10 | 20 |
Total current assets | 14,684 | 5,343 |
Non-current assets | ||
Property and equipment | 447 | 288 |
Exploration and evaluation assets | 8,468 | 3,858 |
Total assets | 23,599 | 9,489 |
LIABILITIES AND EQUITY | ||
Current liabilities | ||
Accounts payable and accrued liabilities | 1,457 | 623 |
Warrant liability | 3,660 | 1,706 |
Liability of Uruguay discontinued operation | 551 | 529 |
Total current liabilities | 5,668 | 2,858 |
Total liabilities | 5,668 | 2,858 |
Equity | ||
Share capital | 91,769 | 74,675 |
Share-based payments reserve | 11,455 | 10,931 |
Warrants | 16 | 436 |
Currency translation reserve | (1,457) | (2,159) |
Accumulated deficit | (83,852) | (77,258) |
Total equity attributable to owners of the parent | 17,931 | 6,625 |
Non-controlling interest | - | 6 |
Total equity | 17,931 | 6,631 |
Total liabilities and equity | 23,599 | 9,489 |
Condensed Interim Consolidated Statements of (Loss) Income and Comprehensive (Loss) | ||
(Expressed in thousands of United States dollars) | ||
(Except common shares and per share amounts) | ||
Unaudited | ||
Nine Months Ended February 28, 2026 $ | Nine Months Ended February 28, 2025 $ | |
Corporate and administrative expenses | (2,068) | (1,384) |
Exploration expenses | (179) | (181) |
Share-based compensation | (1,002) | (311) |
Other income | 14 | 52 |
Net finance cost | (49) | (11) |
Loss on fair value of warrants | (3,182) | - |
Foreign exchange (loss) gain | (90) | 89 |
Net loss for the period for continuing operations | (6,556) | (1,746) |
Income (loss) from discontinued operations | (38) | 2,841 |
Net (loss) income for the period | (6,594) | 1,095 |
Item which may be subsequently reclassified to income (loss): | ||
Cumulative translation adjustment | 702 | (343) |
Total comprehensive (loss) income for the period | (5,892) | 752 |
Basic and diluted net income (loss) per share for | ||
- continuing operations | (0.02) | (0.01) |
- discontinued operations | (0.00) | 0.01 |
Weighted average number of common shares outstanding | 357,557,726 | 228,999,586 |
(Expressed in thousands of United States dollars) | ||
Unaudited | Nine Months Ended February 28, 2026 $ | Nine Months Ended February 28, 2025 $ |
Operating activities | ||
Net (loss) income for the period for continued and discontinued operations | (6,594) | 1,095 |
Adjustments for | ||
Depreciation | 16 | 16 |
Share-based payments | 1,002 | 311 |
Reversed liability and interest accrued | - | (2,376) |
Loss on fair value of warrants | 3,182 | |
Foreign exchange and other | 774 | (606) |
Changes in non-cash working capital items: | ||
Accounts receivable and other assets | (578) | (8) |
Accounts payable and accrued liabilities | 850 | (203) |
Net cash used in operating activities | (1,348) | (1,771) |
Investing activities | ||
Purchase of property and equipment | (175) | - |
Exploration and evaluation expenditures | (4,682) | (729) |
Net cash used in investing activities | (4,857) | (729) |
Financing activities | ||
Proceeds from issue of common shares, net of shares issuance cost | 13,137 | 2,376 |
Proceeds from exercise of options | 315 | 10 |
Proceeds from exercise of warrants | 2,774 | 1,008 |
Warrant liability exercised | (1,228) | - |
Net cash provided by financing activities | 14,968 | 3,394 |
Net change in cash | 8,763 | 894 |
Net change in cash classified within assets held for sale | 10 | 133 |
Cash, beginning of period | 4,877 | 1,328 |
Cash end of period | 13,650 | 2,355 |
Operating activities | ||
- continuing operations | (1,334) | 758 |
- discontinued operations | (14) | (2,509) |
Investing activities | ||
- continuing operations | (4,857) | (729) |
Financing activities | ||
- continuing operations | 14,964 | 3,394 |
- discontinued operations | 4 | - |
For further information, visit www.orosur.ca, follow on X @orosurm or please contact:
Orosur Mining Inc
Louis Castro, Executive Chairman,
Brad George, CEO
[email protected]
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jen Clarke /Caroline Rowe/ Devik Mehta
Tel: +44 (0) 20 3470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker/Guy McDougall
Tel: +44 (0)20 3657 0050
Flagstaff Communications and Investor Communications
Tim Thompson
Allison Allfrey
Mark Edwards
[email protected]
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 Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
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.
About Orosur Mining Inc.
Orosur Mining Inc. (TSXV:OMI)(AIM:OMI) is a minerals explorer and developer currently operating in Colombia and Argentina.
Qualified Persons Statement
The information in this news release was compiled, reviewed, verified and approved by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc. and a qualified person as defined by National Instrument 43-101.
Orosur Mining Inc. staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards.
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, the continuing focus on the Pepas prospect, the exploration plans in Colombia and the funding of those plans, and other events or conditions that may occur in the future. 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 to, those described in the Section "Risks Factors" of the Company's MD&A for the year ended May 31, 2025. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing. This material uncertainty may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. 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.
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 [email protected] or visit www.rns.com.
SOURCE: Orosur Mining Inc
View the original press release on ACCESS Newswire
O.Ouellet--SMC
