ADZN Adventus Mining Corporation

Adventus Mining Corporation (“Adventus” or the “Company”) (TSX-V: ADZN) has today entered into an agreement with a syndicate of underwriters co-led by Raymond James Ltd., Haywood Securities Inc., and National Bank Financial Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 27,559,100 common shares of the Company (the "Shares") at a price of C$1.27 per Share (the "Offering Price"), representing total gross proceeds of C$35,000,057 (the "Offering").

In addition, the Company has granted the Underwriters an option (the "Underwriters' Option"), exercisable in whole or in part, for a period of up to 30 days after the closing date of the Offering, to purchase up to 4,133,865 additional Shares at the Offering Price. In the event that the Underwriters' Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be C$40,250,066.

The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Curipamba project, including the completion of a feasibility study for the El Domo copper-gold deposit, exploration activities at the Pijili and Santiago projects, and general administration and corporate purposes.

The Shares will be offered by way of short form prospectus in British Columbia, Alberta, Ontario, and Newfoundland and Labrador, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Shares will not be offered or sold in the United States except under Rule 144A, Rule 506(b) of Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended.

Closing is expected to occur on or about August 14, 2020 and is subject to regulatory approval including that of the TSX Venture Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful. The Shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

About AdventusAdventus Mining Corporation (ADZN.TSXV) is a unique copper-gold exploration and development company, focused primarily in Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is leading the exploration and engineering advancement of the Curipamba copper-gold project in Ecuador as part of an earn-in agreement to obtain a 75% ownership interest. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijilí and Santiago copper-gold projects to date. Adventus also controls an investment portfolio of equities in several junior exploration companies as well as exploration projects in Ireland with South32 as funding partner. Adventus is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Adventus expects or anticipates will or may occur in the future. Although Adventus has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus undertakes to update any forward-looking information except in accordance with applicable securities laws.

For further information from Adventus, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com.