Orsu Metals Corporation announced that it has closed the purchase of the initial 30% interest in Sibzoloto Investments Limited, the indirect holder of the Sergeevskoe gold project in Russia on the terms as amended and announced on March 23, 2017.

On May 18, 2017, the company issued a total of 165,591,520 common shares to the four arm's length selling shareholders of Sibzoloto in exchange for 30% of the shares of Sibzoloto. Concurrent with closing, Sergei Stefanovich was appointed a director and to the newly created office of Managing Director and Vladimir Pakhomov was appointed as a non-executive director of the Company. Dr. Sergey V. Kurzin continues in his role as a director and Executive Chairman and Mark Corra and David Rhodes as non-executive directors. Alexander Yakubchuk stepped down as a Board Member and was appointed Director of Exploration. Sergei Stefanovich is a lawyer by initial training and received an MBA from IMD (Institute for Management Development), Lausanne, Switzerland. He has over 16 years of corporate finance, strategy & business development experience principally focused on Russia and larger FSU area. He has managed a public equity mining fund that invested into junior mining companies and was Director (Strategy and M&A) for Norilsk Nickel and a past Board member of Gold Fields Limited. He served as a legal counsel for Sputnik private equity funds, AT&T & McKenna & Co. He resides in Moscow and is fluent in Russian and English. Vladimir Pakhomov is a Managing Partner of Olympia Capital, an asset management and merchant banking firm specializing in investment opportunities primarily in Russia and CIS (2011 ­ present). He was the Investment Director with Onexim Group (2007 ­ 2010). He graduated Moscow Institute of International Relations and is CFA Charterholder. Mr. Pakhomov resides in Moscow and is fluent in Russian and English.