Mr. Darrell Rader reports

MINAURUM ANNOUNCES EXERCISE OF OPTION TO ACQUIRE LONE MOUNTAIN CRD PROJECT IN NEVADA'S BATTLE MOUNTAIN-EUREKA TREND

Further to Minaurum Gold Inc.'s news release dated Oct. 2, 2024, it has provided the required notice to Nevada Zinc Corp. to exercise its option to acquire a 100-per-cent-registered and beneficial interest in the Lone Mountain carbonate replacement deposit (CRD) project located on the Battle Mountain-Eureka trend in Nevada, United States. The company is acquiring the project pursuant to an option agreement between the company and Nevada Zinc dated July 24, 2024, as amended on Oct. 22, 2024, and Dec. 24, 2024.

Nevada Zinc completed a preliminary economic assessment of the viability of potentially mining the zinc mineralization at the project in June, 2019 (National Instrument 43-101 preliminary economic assessment and technical report, Peimen Ling & Associates Ltd., June 27, 2019, or see Nevada Zinc news release dated June 27, 2019 (the PEA).

In accordance with the disclosure in the PEA, the project is a brownfields project with a historic inferred mineral resource estimate of 3,257,000 tonnes grading 7.57 per cent zinc and 0.70 per cent lead. Select drilling highlights include 118.87 metres of 9.58 per cent Zn and 0.74 per cent Pb (hole LM-15-27); and 24.7 m grading 23.06 per cent Zn (hole NLM-17-08). The PEA also demonstrated a 35-per-cent after-tax internal rate of return (IRR). See below for further details on the mineral resource estimate report and the PEA.

"Lone Mountain looks a lot like neighbouring historical silver-lead-zinc CRDs, such as Eureka next door or Cortez up the road, both of which have been found to have a significant Carlin Gold overprint," said Dr. Peter Megaw, co-founder and exploration adviser to Minaurum. "Historical drilling was tightly focused on near-surface high-grade zinc oxides and did not seek that kind of gold mineralization or the polymetallic CRD sulphide potential that should lie beneath."

"We are pleased to acquire Lone Mountain, an advanced project with robust economics that we believe could host significant silver and gold mineralization at depth," stated Darrell Rader, president and chief executive officer of Minaurum. "As we advance our flagship Alamos silver project toward a maiden resource in 2025, we're strategically positioning Lone Mountain as the next catalyst for value creation in Minaurum's portfolio."

Acquisition terms

In consideration of the acquisition, the company will:

1. Issue Nevada Zinc a number of common shares of the company (the payment shares) having an aggregate value of $1-million based on the 10-day volume weighted average trading price of the common shares on the TSX Venture Exchange (TSX-V) for the 10 trading days immediately preceding the date of issuance;
2. Pay Nevada Zinc a cash fee in the amount of $100,000.

The completion of the acquisition, including the issuance of the payment shares to Nevada Zinc, is subject to customary closing conditions, including, without limitation, approval of the TSX-V.

The payment shares will be subject to: (a) a four-month-and-one day statutory hold period, in accordance with applicable securities laws; and (b) a contractual restriction on transfer pursuant to which Nevada Zinc may not sell more than 500,000 payment shares per week after the expiry of the statutory hold period.

Further information regarding Lone Mountain is disclosed in the company's news release dated Oct. 2, 2024, with key highlights described below.

Lone Mountain CRD project -- Battle Mountain Eureka trend, Nevada, United States

Lone Mountain is a high-grade CRD project comprised of a single patented mining claim and 203 unpatented mining claims that cover 1,850 hectares. The project lies 28 kilometres northwest of the historic Eureka mining district, which anchors one end of the Battle Mountain-Eureka trend in Nevada, United States. The region supports an active mining work force with significant resources for mineral exploration, mine development and mine operations. Major mines in the region include Barrick Gold's Goldstrike and Carlin mines, Nevada Gold Mines, Pine Valley mine, Cortez Hills mine, McEwen Mining's Gold Bar mine, and i80's Ruby Hill project, amongst others.

About Minaurum Gold Inc.

Minaurum Gold is an Americas-focused explorer concentrating on the high-grade 100-per-cent-owned, production-permitted Alamos silver project in southern Sonora Mexico and the Lone Mountain CRD project in Nevada. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier 1 precious and base metal projects.

We seek Safe Harbor.