Euro Sun Completes Acquisition of All Outstanding Shares of Vilhelmina Minerals Inc.

TORONTO, Oct. 10, 2019 (GLOBE NEWSWIRE) — Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce that further to the press releases dated September 25, 2019 and October 9, 2019, it has completed the acquisition of all of the issued and outstanding shares of Vilhelmina Minerals Inc. (“Vilhelmina”) that it currently does not own (the “Vilhelmina Acquisition”). Vilhelmina is an Ontario-incorporated company that holds a 46.9% ownership interest in Vilhelmina Mineral AB (“Vilhelmina Sub”), a private Swedish company which owns an interest in past producing mines in Sweden and Norway.

Pursuant to the Vilhelmina Acquisition, the Company acquired a total of 2,457,230 common shares of Vilhelmina from other existing shareholders of Vilhelmina (the “Vilhelmina Shareholders”) for a total purchase price of 9,088,235 common shares of the Company issued from treasury.

Vilhelmina Sub is currently re-permitting the past producing Stekenjokk copper mine in Sweden and the Joma Gruver copper mine just 60 km across the border from Stekenjokk in Norway.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley Gold and Copper Project located in west-central Romania.

Further information:

For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at [email protected] or +1 416.309.4299.

Caution regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Vilhelmina Acquisition. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.