TORONTO - Adventus Mining Corporation ('Adventus') (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce the commencement of exploration scout hole drilling on its Rathkeale block in County Limerick in the Republic of Ireland.

The work is being done under the earn-in agreement with a wholly owned subsidiary of South32 Limited ('South32'), which has a right to acquire a 70% interest in the Kingscourt, Rathkeale and Fermoy blocks, which are 100% owned by Adventus through its wholly owned subsidiary, Adventus Zinc Ireland Limited ('AZIL'). These three project areas encompass 1,277 km2 of favourable strata known to host Irish-type zinc-lead-silver systems. South32 is required to fund EUR 3,500,000 in exploration on the three blocks over a four-year period with AZIL acting as operator during the earn-in period.

Highlights

Seven targets have been selected for the initial phase of exploration scout hole drilling on the Rathkeale Block. These targets build on work carried out on the Rathkeale Block by Adventus to date and have been refined by selected geochemical and geophysical fieldwork carried out in the period since April 2020.

A total of 5,000 metres of drilling is planned to target the prospective base of Waulsortian limestone for zinc-lead mineralization. The first hole 21-3368-01 on the Killeen target collared in late November 2021 and is targeted at the hanging wall of the GB fault.

Phase 1 drill holes are targeted in areas with limited drill testing to the base of Waulsortian Reef with targeting based on prospective geochemistry and structural-stratigraphic setting.

In addition to testing robust exploration targets, Phase 1 drilling will provide an essential test of the block structural interpretation, interpretation of seismic data and of the combination of exploration techniques deployed on the block in the 2020-2021 period.

Phase 1 scout hole drilling will include a down-hole geophysical component to allow calibration of Adventus's seismic databases, as well as available ground magnetic and magneto-telluric (MT) data, and Tellus airborne magnetics and EM data.

Drilling of initial two scout holes (Julianstown and Marvelstown) on the Kingscourt block was completed successfully. The drill holes validate the geological model of this part of the basin, indicating a well-developed target horizon (Pale Beds) and prospective lithogeochemistry to aid further targeting.

Rathkeale Block Geology

The Rathkeale Block consists of a total of eight contiguous prospecting licences covering an area of approximately 255 km2 of prospective ground for base of Waulsortian Zn-Pb mineralization in west County Limerick. The block lies immediately west of Glencore's Tobermalug deposit (1) (45.4 Mt inferred mineral resources grading 7% zinc and 1% lead), and Group Eleven's Pallas Green West and Stonepark projects. The rocks underlying the Rathkeale Block are primarily Lower Carboniferous in age. The geological history of the area progressively records the early Carboniferous marine transgression across the Old Red Sandstone continent, development of Visean basin and shelf palaeoenvironments and later deposition of the late Namurian strata of the Newcastle West area. Historical drilling and geological interpretation suggest that the Rathkeale syncline is a complex of half graben structures associated with a series of ENE trending, Early Carboniferous extensional faults. Thick breccias and conglomerates along with associated alteration including dolomitization and black matrix breccia have been intersected in historical drilling on this zone. This polymict sequence of Rathkeale Limestone and Waulsortian Mudbank clasts indicates large scale faulting following the initial deposition of the Waulsortian. Regional extension was accompanied by gravitational collapse and excavation of footwall scarps during Chadian to Arundian; a similar age to that recognized in the north Dublin Basin and more significantly coeval with development of the Boulder Conglomerate at Navan.

Next Steps

Adventus and South32 plan to continue with drilling the remaining scout hole targets on the Rathkeale Block, as each target is considered stand-alone. Key targeting information derived from the completion of the current drill hole on the Killeen target will be incorporated into the Rathkeale TGI, and the geological and geophysical modelling will be updated using the downhole data obtained, with future drill planning adjusted accordingly. The technical team is also continuing to work on the remaining Kingscourt targets and assessing follow up drilling based upon results from the first two drill holes. Additional drilling at Kingscourt is expected in the first half of 2022.

Geochemical sampling is ongoing on the Fermoy block with results expected in Q1 2022 for incorporation into the Fermoy TGI with detailed follow up to be carried out ahead of developing targets for drilling in the second half of 2022; however, it should be noted that five new prospecting licenses have now been issued for the Fermoy block totalling 122km2, expanding the coverage over prospective lands with field work commencing in 2022.

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 Curipamba copper-gold project through a feasibility study, while continuing to explore the broader 215 square kilometre 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. 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 South32

South32 is a globally diversified mining and metals company. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We produce bauxite, alumina, aluminium, and metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in Australia, Southern Africa, and South America. With a focus on growing our base metals exposure, we also have two development options in North America and several partnerships with junior explorers around the world.

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.

Contact:

Tel: +1 416 306 8201

Email: info@adventusmining.com

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