PROJECT OVERVIEW

Location & Access

The Rovina Valley Project covers 27.68 km² in west-central Romania, approximately 300 km northwest of the capital city of Bucharest. This historic mining district known as the “Golden Quadrilateral” is one of the largest gold-producing areas in Europe where it is estimated that more that 55 Moz of gold have been produced since the Roman period (ca 2000 yrs ago).

The Rovina Valley property is accessible year-round via a paved two-lane highway from the historic gold mining town of Brad followed by secondary paved roads which pass through the town of Criscior and onward to the village of Bucureşci.

Mineral Resources

The Measured & Indicated mineral resources of 10.1 million ounces of gold equivalent (see details related to the mineral resource HERE) are based on three (3) porphyry deposits that define a north-northeast trend over a distance of 7.5 km. The Rovina Porphyry is the northern-most deposit, followed by the Colnic Porphyry, and the Ciresata Porphyry located the furthest south.

Next Steps

In November 2018, the Mining License for the Rovina Valley Project granted to SAMAX Romania srl (100% owned by Euro Sun Mining), was fully approved by six senior cabinet ministers and the Prime Minister of Romania.

This license secures the mineral tenure and allows the Company to begin the formal Environmental Impact Assessment and Urbanization Certificate, both of which are currently in progress.

In addition to key permitting activities, the Company has completed a new PEA, which was released on February 20th, 2019.  This study will be further developed into the Bankable Feasibility Study targeted for completion by year-end.

MINERAL RESOURCES

• The latest mineral resource estimate for the Rovina Valley Project was completed in February 2019 by AGP Consultants Inc.
• The report estimates Measured & Indicated mineral resources of 396.4 million tonnes containing 7.0 million ounces of gold grading 0.55g/t and 1,390 million pounds of copper grading 0.16% (10.11 million ounces of gold equivalent)
• The Project consists of three distinct deposits, Rovina, Colnic, and Ciresata, which define a north-northeast trend over a distance of 7.5km.

Feb 20, 2019 - Rovina Valley Project, NI 43-101 Technical report and Mineral Resource Updata

Notes: *Au eq. determined by using a long-term gold price of US$1,500 per ounce and a copper price of US$ 3.30/lb. Metallurgical recoveries are not taken into account for Au eq. Base case cut-off grade used in the table are 0.35 g/t Au eq. for the Colnic deposit and 0.25% Cu eq for the Rovina deposit, both of which are amenable to open-pit mining and 0.65 g/t Au eq. for the Ciresata deposit which is amenable to underground bulk mining. For the Rovina and Colnic porphyries, the resources are pit-shell constrained using Lerchs-Grossmann algorithm pit optimizer and market metal values of $1,500/oz Au price and $3.30/lb Cu price, with net prices after smelter payables, concentrate transport, smelter charges, and royalty of US$1,384/oz Au and US$2.61/lb Cu for Colnic and US$1,286/oz Au and US$2.59/Ib Cu for Rovina.  Flotation metallurgical recoveries used are: Colnic 81.5% gold, 88.5% copper and Rovina 73.2% gold, 94.7% copper. Rounding of tonnes as required by reporting guidelines may result in apparent differences between tonnes, grade and contained metal content. These mineral resources are not mineral reserves as they do not have demonstrated economic viability

Regional Geology

On a regional level, the majority of the mineral deposits in the Romanian/Hungarian region are located in the Carpathian Fold Belt; an arcuate orogenic belt which is part of a much larger belt extending westward into Austria and Switzerland and south into Serbia and Bulgaria. These belts developed during the late Cretaceous and Tertiary, following closure of the Tethys Ocean, due to the collision of continental fragments of Gondwana with continental Europe and the related subduction of small, intervening oceanic basins. The development of the Carpathian Fold Belt was accompanied by widespread igneous activity including a suite of late Cretaceous to early Eocene acidic to intermediate intrusive and extrusive rocks, known as “banatites.” These rocks are believed to have formed early stages of subduction and are host to several Cu–Mo–Fe Porphyry and skarn deposits.

STANIJA PROSPECT

Overview

In October 2016, Euro Sun Mining obtained a new prospecting permit from Romania's National Agency for Mineral Resources for the Stanija area, located approximately 3 kilometres east of its Rovina Valley Mining Licence, in west-central Romania. The Stanija property covers 42 square kilometres in the highly prolific Golden Quadrilateral mining district in the South Apuseni mountains. The permit is valid for three years.

History

Extensive exploration activities were conducted in the Stanija area after the modern mining law became effective in the year 1998; initially from 2000 to 2004 by European Goldfields, and again by Euro Sun's subsidiary, SAMAX Romania SRL, in 2007. Based on results from this historical work, Euro Sun has already identified several exploration targets within the two target areas.

Exploration Targets

Stanija Western Target - Previous exploration work has intersected porphyry-style gold-copper mineralization in surface trenches, underground works, outcrop rock chip sampling, and RC and DDH drilling. Three areas within this western target will be subject to detailed geological mapping and rock chip sampling this quarter.

Stanija Eastern Target - Samax Romania SRL, European Goldfields and the Romanian State mining company had conducted extensive exploration within this target area which indicates porphyry-style mineralization at depth and mineralized epithermal vein-style mineralization at near surface. Euro Sun will conduct discrete soil geochemistry on these target areas with detailed surface mapping, rock chip sampling, and additional geophysics.

Stanija Exploration Property - Location

G. Scott Moore, President and CEO of Euro Sun Mining stated, "The granting of this new prospecting permit by the Romanian Government clearly demonstrates that the country is supportive to new mining projects. We have been in continuous dialogue with the government since taking over management in May of 2016 and feel we are well aligned with respect to the ratification of our mining licence, as well as our commitment to developing a sustainable long-life mining asset in Romania. In addition, the prospectivity of the Stanija area is enhanced by its proximity to our Rovina Valley Project."