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About Us

Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay & Chile and Argentina.

Highlights:

Gold production profile of at least 190,000 ounces over the four years to May 31, 2013 from open pit operations at the San Gregorio mine in Uruguay with the potential to significantly improve this production profile and reduce cash costs with the development of the Arenal Deeps underground deposit.
A development project at Pantanillo in the Maricunga Belt in Chile. Historical geological work on the Pantanillo property by Anglo American (1992-2005) and Kinross Gold (2005-2008) has defined a potential mineral deposit estimated to be in the range of 82 to 125 million tonnes grading 0.83 to 0.73 g/t gold, using a 0.6 to 0.5 g/t gold cut-off for the lower and higher tonnage estimates respectively, which is equivalent to 2.18 to 2.95 million ounces of contained gold. This preliminary assessment was made by Kinross Gold in 2007 and was estimated based on a total of 8,398 meters of reverse circulation drilling and diamond drilling. The potential quantity and grade of the potential mineral deposit is conceptual in nature as there has been insufficient exploration to define a mineral resource in accordance with disclosure guidelines in National Instrument 43-101 Standards of Disclosure for Mineral Projects and it is uncertain if further exploration will result in the target being delineated as a mineral resource. A planned exploration and development program targeting the definition of a NI43-101 compliant mineral resource would commence in 2010with the objective of creating a second production asset for the group within 3 to 4 years.
Further growth potential from the combined group's exploration portfolio in Chile and Uruguay including the Anillo project in Northern Chile which is along strike from the El Peñón mine operated by Yamana Gold Inc.
A combined group with the financial and technical resources to develop its business and capitalise on other gold growth opportunities in Latin America.
Cash on hand of approximately $US 8 million with no debt or hedging

History

The Company was incorporated in October 1996 as 713257 Alberta Inc. pursuant to the Business Corporations Act (Alberta) and in January 1997 changed its name to Uruguay Goldfields Inc ("UGI"). In February 2002, it changed its name to Uruguay Mineral Exploration Inc., discontinued to act in Alberta and continued acting in Yukon.

In March 2000, the Common Shares of the Company were admitted for listing on the Canadian Venture Exchange. In June 2002, the Canadian Venture Exchange was acquired by the Toronto Stock Exchange and its name was changed to the TSX Venture Exchange, where the Company's common shares now trade under the symbol "UME".

In October 2003, the Company purchased the Uruguayan subsidiaries of Crystallex International Corporation for $US2 million in cash, payment of $US 2.7 million in outstanding debt and hedging obligations and the assumption of employee and environmental obligations. The assets acquired included a 1.2 million tonne per annum gold treatment facility and the San Gregorio Gold Project.

During 2004, the Company discovered the Arenal deposit approximately 4 km from the San Gregorio process plant. The permit was received in September, 2004, and mining at the Arenal pit commenced in October 2004.

In 2010, Uruguay Mineral Exploration Inc and Fortune Valley Resources Inc. announced the completion of the plan of arrangement pursuant to which UME has acquired all of the issued and outstanding common shares of Fortune Valley in consideration for 0.4534 of one UME common share plus C$0.001 in cash for each common share of Fortune Valley. Following the passing of the resolution to change the name of the Company to Orosur Mining Inc. at the 2009 Annual General Meeting, in January 2010, common shares in the Company commenced trading under the name Orosur Mining Inc. for shares quoted on the TSX Venture Exchange and the AIM market of the London Stock Exchange .