Orosur Mining Inc. announced that it has signed an Exploration & Joint Venture ("JV") agreement ("Agreement") with private Argentinean company DESEADO DORADO S.A.S and its shareholders ("Deseado") in relation to the El Pantano Gold Project in the Province of Santa Cruz, Argentina ("Project"). The Agreement covers nine licences owned by Deseado, that combined, total 607km2 in the prolific Deseado Massif region of Santa Cruz Province in southern Argentina, roughly 45km from Anglo Gold's Cerro Vanguardia mining camp. The general terms of the Agreement allow for the Company to earn 100% equity in the Project by investing USD 3 million over five years in two phases: Phase 1, earn 51% by investing USD 1m over an initial 3-year period.

Phase 2, move to 100% ownership by investing an additional $2m over a subsequent 2-year period and granting Deseado a residual 2% net smelter return royalty on the Project. The Agreement will involve the Company securing its position by direct ownership in the holding company, Deseado Dorado S.A.S. For added security of tenure, the Company will commence with 100% ownership of Deseado. Formalisation of the Agreement ownership structure is expected to take several weeks.

However, as the Company's geological team and directors have already made several visits to the Project, desk top targeting work has already begun, thus allowing exploration work to commence promptly once the structure is finalised. The Project comprises nine contiguous exploration licences that total 607km. Access to the Project is by good, paved road several hours drive south from the regional city of Comodoro Rivadavia, and then roughly 50km travel on good quality dirt roads west from the Tres Cerros Roadhouse.

The region is arid and sparsely populated, largely as a result of the near complete devastation of the region's agricultural industry by ashfall from the 1991 eruption of Mt Hudson. Several large and widely spaced estancias remain and may be used as bases for field activities. A major, national-scale power line runs parallel to the main highway, thus providing plentiful scheme power to the region, and there is sufficient surface and ground water supplies in the region to provide process water to mining operations.