Orosur Mining Inc. (TSXV: OMI; AIM: OMI), a minerals explorer and developer operating in Colombia and Argentina, has published unaudited results for the first quarter ended 31 August 2026. The period was marked by a series of significant gold exploration advances across multiple prospects, including a substantial intersection at the APTA project in Colombia and a major epithermal gold and silver discovery in Argentina. The company also closed a brokered private placement raising gross proceeds of Cdn$16,000,000 after the quarter end, materially strengthening its cash position ahead of continued drilling campaigns.

Key Points

  • Orosur Mining Inc. (TSXV: OMI; AIM: OMI) — minerals explorer and developer in Colombia and Argentina
  • Reported net loss of $548,000 for Q1 ended 31 August 2026, compared with a loss of $718,000 in the equivalent prior-year period
  • Cash balance of $7,841,000 at 31 August 2026; post-period cash including private placement proceeds stood at US$16,840,000
  • Investors will be watching progress at El Cedro, where drilling has recommenced with a planned hole depth of 500 metres following mechanical interruption

APTA Gold Intersections and Pepas West Extension Advance Colombia Prospects

Orosur's Colombian exploration delivered a notable result at its APTA project during the quarter, with Hole MAP 107 returning an intersection of 135 metres at 1.91 grammes per tonne gold, including a higher-grade interval of 49 metres at 4.06 grammes per tonne gold, with the hole ending in mineralisation. The company also confirmed an extension of Pepas West, identifying a flat-lying body of mineralisation approximately 100 metres to the west of Pepas. The announcement states that this surficial, high-grade oxide gold mineralisation is considered a high priority in a near-term production scenario given the relatively lower cost and time associated with defining and developing the target.

El Cedro Discovery Opens New Southern Prospect for Orosur in Colombia

Post the period end, on 15 September 2026, Orosur announced a discovery at El Cedro, the most southerly of its three Colombian prospects. Partial results from the first hole returned gold mineralisation from surface of 61.35 metres at 0.93 grammes per tonne gold, including 42.15 metres at 1.02 grammes per tonne from 19 metres depth. Subsequent drilling identified gold mineralisation at 0.65 grammes per tonne from surface to a depth of 267 metres, at which point drilling was prematurely terminated due to mechanical issues. The announcement confirms drilling has recommenced with a planned hole depth of 500 metres, which investors may be watching closely for further results.

El Pantano Epithermal System Identified Across 560km² in Argentina's Deseado Massif

On 22 July 2026, Orosur announced that its drilling campaign at the 100%-owned El Pantano project in Santa Cruz Province, Southern Argentina, had identified a major epithermal gold and silver system, supported by a filed NI 43-101 Technical Report. The project covers approximately 560 square kilometres of contiguous granted licences in the Deseado Massif, located roughly 45 kilometres from AngloGold's Cerro Vanguardia mining camp and 100 kilometres south-east of Newmont Mining's Cerro Negro mine. The Technical Report identified multiple exploration vectors including structurally controlled gold-bearing vein corridors and newly identified regional soil anomalies, with the company stating it will develop exploration plans over the winter recess.

Cdn$16 Million Private Placement Closes as Q1 Net Loss Narrows Year-on-Year

Orosur's unaudited results show a net loss of $548,000 for the three months ended 31 August 2026, an improvement from the $718,000 loss recorded in the equivalent prior-year quarter. Exploration and evaluation expenditures increased to $1,573,000 from $554,000 a year earlier, reflecting the expanded drilling programme. Cash at 31 August 2026 stood at $7,841,000, falling from $9,954,000 at 31 May 2026. Following the quarter end, a brokered private placement closed on 6 October 2026, raising gross proceeds of Cdn$16,000,000 through the issue of 50,000,000 units at Cdn$0.32 per unit, lifting the reported cash balance to US$16,840,000 as at the date of the announcement. The company's financial statements note a going concern dependency on obtaining adequate financing.