Minsud Resources Corp. announceD that it has signed an agreement with San Juan Mining S.A. (Transfer Agreement) to acquire a mineral property named "Mina Gabriela" located in the central area of the Chita Valley Project, in San Juan Province, Argentina. Under the terms of the Transfer Agreement, Minsud will acquire 100% of Mina Gabriela's rights for a cash purchase price of USD 30,000.

The "Mina Gabriela'' property has an area of 30 hectares which is within and overlapping the Chita Valley Project, as shown in Map 1 below. Minsud anticipates that the acquisition will be completed in the next 30 days. The Chita Valley Project is a large exploration stage porphyry system with classic alteration features, widespread porphyry style Cu-Mo-Au and polymetallic Ag-Pb-Zn mineralization hosted by Hydrothermal Phreatic Breccias and associated gold and silver-bearing polymetallic veins of intermediate sulfide composition that conformed an outcropping porphyry system at Chita and a lithocap of a porphyry system at Chinchillones.

The earn-in agreement grants to South32 the right to acquire a 50.1% direct interest in the Company's Argentinean operating subsidiary Minera Sud Argentina S.A. ("MSA") at the end of the earn-in period. Under the earn-in agreement, and having given the Company notice of its intention to continue funding the Chita Valley Project, South32 will provide further funding to MSA such that its aggregate funding is not less than CAD 10.5 million by February 28, 2023; and not less than CAD 14 million by February 28, 2024. South32 has the right to withdraw at the end of each year.