Minaurum Discovers Virgin Silver - Copper Skarn Zone and Extends Europa-Guadalupe Vein Strike to 800 Metres at Alamos Silver Project

NEWS RELEASE

MINAURUM GOLD INC.

FOR RELEASE: November 9, 2021	TRADING SYMBOL TSX.V:MGG
	(MGG 2021 - NR #13)

Minaurum Discovers Virgin Silver - Copper Skarn Zone and Extends Europa-Guadalupe Vein Strike to 800 Metres at Alamos Silver Project

Minaurum Gold, Inc ("Minaurum") is pleased to announce results from its on-going Phase II drilling program at its Alamos silver project in Sonora, Mexico. Drilling at the Alessandra vein recently discovered a blind Ag-Cu-Pb-Zn skarn that is open in all directions while ongoing drilling at Europa-Guadalupe continues to delineate a high-grade mineralized vein system which is now been extended by 40% to at least 800 meters in length. Europa-Guadalupe remains open at depth and along strike.

Highlights include

Alessandra skarn/vein zone

• AL21-085:11.05 m @ 120 g/t Ag, 1.12% Cu, 0.37% Pb, and 1.79% Zn; including 5.45 m @ 183 g/t Ag, 1.65% Cu and 2.49% Zn

Europa-Guadalupe vein zone

• AL21-080:1.60 m @ 174 g/t Ag and 1.30% Cu, including 0.75 m @ 297 g/t Ag and 1.88% Cu
• AL21-083:1.60 m @ 247 g/t Ag, including 0.45 m @ 589 g/t Ag
• AL21-083:2.25 m @ 228 g/t Ag, including 0.50 m @ 754 g/t Ag
• AL21-084:1.55 m @ 139 g/t Ag, including 0.25 m @ 777 g/t Ag
• AL21-084:1.65 m @ 240 g/t Ag, including 0.60 m @ 547 g/t Ag and 0.72% Cu

"Our strategy of drilling sizable step-outs continues to return excellent hit rates as we discovered both a significant new polymetallic skarn system at the Alessandra target in addition to expanding the mineralized strike of the Europa-Guadalupe vein system by 40%," stated Darrell Rader, Minaurum President and CEO. "With both targets remaining open along strike and at depth, we look forward to updating the market as drilling continues."

David M. Jones, Director of Minaurum Gold and skarn expert commented, "The discovery of a blind silver-gold-copperskarn is a testament to Minaurum's commitment to enhancing shareholder value through aggressive exploration. We made the decision to return to the Alessandra vein target based on the recognition of pathfinder elements which we deduced might lie above a mineralized body and now we have demonstrated that this concept was

correct. Alessandra has the right host rocks (reactive limestones), the right intrusions (large mafic dikes) and the target is completely open with no known prior mining history."

Alessandra Skarn and Vein Zone

Hole AL21-085 cut a 11.05-m mineralized zone at a vertical depth of approximately 450 m in skarn-altered limestone in the footwall of the Alessandra fault about 230 m south of and 280 m below the mineralized intersection of hole AL19-038 (4.20 m of 2.58% Cu, 0.63% Pb, and 2.17% Zn) (see News Release dated January 20, 2020).

Characterized by strong retrograde alteration of garnet-diopside skarn, the AL21-85 intercept displays a down-dip increase in silver and gold grades and the continuation of strong copper and zinc grades. The increase in silver values, from nearly absent in surface exposures and previous drilling at Alessandra, along with strongly anomalous levels of arsenic, bismuth, and tellurium in the mineralized intercept, suggest potential for increased precious-metal mineralization at depth. The Alessandra vein zone extends for one kilometre of strike.

Hole AL21-090 was drilled from the same collar as AL21-085, but at a shallower angle in order to test the zone up dip (Figures 2 and 3). Assay results are pending for hole AL21-090 while drilling at Alessandra continues.

Europa-Guadalupe Vein Zone

Holes AL21-080,-082,-083, and -084 were drilled in the northern part of the Europa-Guadalupe vein zone, to test for extension of mineralization found in holes in the central part of the zone (see News Releases dated January 18, 2018, August 22, 2019, and September 24, 2020). Holes AL21- 086, -087, and -088 drilled in the south-central part of the Europa-Guadalupe vein zone.

Drilling shows that vein mineralization continues along the vein zone and indicates that the vein is open along strike and down-dip. Hole AL19-028 targeted the vein about 220 m north of the AL21-083 intercept and roughly 150 m up-dip. The vein is open below and to the north of the - 028 intersection. See Table 1 for drill highlights and Figures 4 and 5 for locations of drill intercepts.

Three more holes, AL21-086,-087, and -088 were completed in the south-central part of the Europa zone. Hole AL21-086 encountered significant mineralization in the granodiorite footwall of the andesite/granodiorite contact. AL21-088 cut a 21.85-m-wide zone of mineralization that included a 0.40-m section grading 304 g/t Ag in the immediate hanging wall of the contact.

Figure 1. Identified vein zones at Alamos project. Vein zones mentioned in this news release are labeled. Click on image to enlarge.

Ana Vein zone

Hole AL21-081 was drilled to test the Ana vein/fault zone, in particular the area around the intercept reported in hole AL18-011 (see News Release dated March 1, 2019). AL21-081 cut numerous bands of altered limestone-hosted Zn mineralization. The highest grades reported were 0.69% Pb and 2.18% Zn over 0.55 m.

Promontorio Vein Zone

Minaurum is rehabilitating the Promontorio adit, to gain access for geological mapping and to pump water for drilling from the mine's lower workings. The Promontorio adit is reported to be 1,200 metres long, with at least two levels below the main access adit. Geological mapping of the workings, combined with historical drill results (see News Release dated February 6, 2020) will aid in further drill targeting and development of a geological model at Promontorio.

Minaurum has drilled 7 holes at Europa-Guadalupe, 2 at Alessandra, 2 at San José, and 1 at Ana in 2021. Assays are pending for the second hole at Alessandra and the San José holes.

Table 1. Assay highlights, holes AL21-080,-081,-082,-083, and -084,-085,-086,-087, and -088. Locations of holes are shown in Figures 2 and 4. AL21-081 was drilled at the Ana zone, AL21-085 at Alessandra, and the rest drilled at Europa-Guadalupe.

Hole	From (m)	To (m)	Interval (m)		Ag g/t		Au ppb	Cu %	Pb %	Zn %	Comment
	370.7	382.7	12.00		28		45	0.139	0.114	0.465	Europa
			zone
AL21-080	398.45	400.05	1.60		174		25	1.301	0.031	0.115	FW veining
					including					parallel to
	398.45	399.2	0.75		297		41	1.875	0.025	0.099	core axis
AL21-081											Ana zone,
484.85	486.05	1.20		1.26		13	0.003	0.343	2.430	highest
											values
	271.20	271.90	0.70		19.35		3	0.030	0.100	0.606	hangingwall
			vein
AL21-082
										at
	291.40	292.05	0.65		22.4		4	0.020	0.071	0.168	granodiorite
											contact
	419.00	424.05	5.05		106		10	0.090	0.243	0.459
					including
	421.15	422.75	1.60		247		17	0.161	0.577	0.694
				which includes				immediate
	421.50	421.95	0.45		589		39	0.293	1.765	1.240
AL21-083			footwall of
427.05	429.30	2.25		228		103	0.174	0.533	1.280	Europa
					including					fault, in
											granodiorite
	427.05	428.30	1.25		353		88	0.223	0.732	1.497
				which includes
	427.80	428.30	0.50		754		85	0.403	1.585	2.800
	432.20	432.50	0.30		20		469	0.036	0.626	1.645
	320.50	322.05	1.55		139		6	0.133	0.103	0.174	Europa
					including					zone vein
AL21-084	321.80	322.05	0.25		777		21	0.549	0.584	0.770	breccia
329.55	331.20	1.65		240		10	0.404	0.506	0.628	Breccia
											immediate
					including
											FW to vein
	330.00	330.60	0.60		547		5	0.723	1.240	1.300
			zone.
	274.80	275.90	1.10		6		8	0.03	1.19	7.63
	284.40	285.30	0.90		57		241	0.06	1.04	3.03
	287.80	288.10	0.30		10		44	0.03	4.16	5.77	HW block
	314.65	315.70	1.05		7		109	0.02	0.40	1.22
			of
	318.40	318.80	0.40		8		725	0.03	1.40	4.51	Alessandra
AL21-085											fault zone
321.00	322.15	1.15		20		131	0.03	0.69	2.87
	325.30	325.90	0.60		10		122	0.02	0.74	2.39
	326.85	330.70	3.85		57		562	0.02	0.79	2.07
	625.25	636.30	11.05		120		253	1.12	0.37	1.79	FW block
					including					Alessandra
	625.25	633.25	8.00		150		315	1.40	0.37	2.37	fault zone,

				which includes				skarn
										minerali-
	625.25	630.70	5.45		183	299	1.65	0.26	2.49
		zation

Table 1. Assay highlights, holes AL21-080,-081,-082,-083, and -084,-085,-086,-087, and -088 (continued).

	444.00	450.40	6.40	147		60	0.126	0.313	0.639	Begins 19 m
				including
								below
AL21-086	444.00	444.95	0.95	435		349	0.433	1.445	3.640	andesite/gra
			and					no-diorite
										contact
	449.70	450.40	0.70	513		40	0.259	0.171	0.330
	472.75	474.25	1.50	2		1130	0.003	0.002	0.013
	115.50	132.65	17.15	35		4	0.065	0.086	0.185	Immediate
				including
AL21-087								HW of fault
127.60	130.45	2.85	91		22	0.237	0.348	0.467	contact of
				which includes				andesite and
										granodiorite
	129.80	130.45	0.65	283		96	0.789	1.165	1.526
	234.65	256.50	21.85	62		12	0.144	0.191	0.430
				including
	243.40	256.50	13.10	88		17	0.208	0.273	0.567	Immediate
				which includes
AL21-088							HW of fault
248.25	255.60	7.35	107		23	0.275	0.374	0.630	contact of
				which includes				andesite and
										granodiorite
	252.25	255.60	3.35	132		30	0.343	0.310	0.795
				which includes
	255.20	255.60	0.40	304		89	0.563	1.435	2.150