Orea Mining Corp. reported on July June, 2023 that it agreed with Nord Gold plc (the "Vendor") to retract the termination of the agreement to acquire its 55.01% interest in the 5M oz. Montagne d'Or gold project (the "Acquisition"), and that the parties agreed to amend the proposed terms of the share purchase agreement (the "Amended Agreement"), and to defer signing pending feedback from the applicable sanctions authorities.

The Amended Agreement has now been fully executed by Orea and the Vendor. Pursuant to the terms of the Amended Agreement, the CAD 100 million payment (the "Payment") will only be made if and when all sanctions are lifted against the Vendor and its shareholders, in all applicable jurisdictions, including in Canada, the United States, France, the UK and the EU. The Amended Agreement also stipulates that the Payment will no longer be due or payable if sanctions are still in effect the earlier of three years from receipt by Orea of all permits to operate a gold mine at Montagne d'Or, and seven years from closing of the Acquisition.

The applicable sanctions authorities have advised Orea that they are reviewing the Amended Agreement. Orea is unable to provide guidance on when it might receive a reply from sanctions authorities; shareholders will be kept informed.