MSA Mineros SA

MEDELLIN, Colombia, June 3, 2022 /CNW/ - Mineros S.A. (TSX: MSA) (CB: MINEROS) ("Mineros" or the "Company") is today providing an update on the fatal accident at its Nechi Alluvial Property ("Nechi"), Colombia, which was initially reported by the Company in its news release of May 29, 2022.

On May 28, 2022, a storm with heavy rains and strong winds hit Nechi and overturned the floating beneficiation plant connected to the Llanuras suction dredge (the "Plant"). A total of eight people were working on the Plant at the time of the accident. All eight have now been accounted for, with two employees rescued uninjured and the remaining six confirmed dead. Counseling and support is being provided to the affected families and personnel.

"As a company and a community, we mourn the loss of six lives and extend our most sincere condolences to the families, friends and colleagues affected by this tragic accident. Mineros remains committed to providing support to the community, where we have operated for almost fifty years," said Andrés Restrepo, President and CEO of Mineros. "On behalf of Mineros, I would like to thank all of those who assisted in the rescue and recovery efforts at Nechi."

Immediately following the accident the Company's emergency protocols were activated. A rescue operation commenced, and was followed by coordinated search, and subsequent recovery operations. These operations are now complete and accident investigations by both the relevant Colombian authorities and independent investigators hired by the Company are underway.

To date no environmental impact has been reported from the storm or the overturning of the Plant. The Company will continue to monitor the environmental situation and has informed the relevant environmental authorities.

Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia, Nicaragua and Argentina and a pipeline of development and exploration projects throughout the region.

The board of directors and management of Mineros have extensive experience in mining, corporate development, finance and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations.

Mineros' common shares are listed on the Toronto Stock Exchange under the symbol "MSA", and on the Colombia Stock Exchange under the symbol "MINEROS".

The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company's most recent annual information form filed on SEDAR at www.sedar.com.

SOURCE Mineros S.A.