(all amounts expressed in U.S. dollars unless otherwise stated)

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MEDELLIN, Colombia, Nov. 17, 2021 /CNW/ - Mineros S.A. (CB: MINEROS) ("Mineros" or the "Company") announced today that a Colombian offering of common shares ("Common Shares") of the Company on the Colombia Stock Exchange (Bolsa de Valores de Colombia – BVC) (the "Colombian Offering"), as previously announced on November 12, 2021, has been fully allocated including the exercise and allocation in full of the 15% over-allotment option.

Mineros President and CEO Andres Restrepo commented "The successful allocation of the Colombian financing, including the overallotment, confirms the interest in the Colombian investment community for the shares of Mineros."

Closing is expected to occur on November 18, 2021. Including the 15% over-allotment option, the Colombian Offering is expected to generate  total proceeds of COP44,566,841,669 (US$11,499,999.30) and a total of 12,777,777 Common Shares will be issued on the BVC.

Corredores Davivienda S.A. Comisionista de Bolsa acted as Structuring and Lead Placement Agent for the Issuance and Placement of Common Shares of Mineros S.A. in the Colombian Market, and DLA Piper Martínez Beltrán acted as Legal Advisor.

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

The initial public offering in Canada (the "Canadian Offering") previously announced on November 12, 2021 is expected to close on or about November 19, 2021. A copy of the final prospectus in respect of the Canadian Offering is available on SEDAR at www.sedar.com.

ABOUT MINEROS S.A.

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 our operations. Mineros' common shares are listed on the Colombian Stock Exchange (Bolsa de Valores de Colombia) under the symbol "MINEROS:CB".

Mineros has received conditional listing approval from the Toronto Stock Exchange (the "TSX") for the listing of its Common Shares on the TSX. Listing remains subject to Mineros fulfilling all of the requirements of the TSX on or before December 15, 2021. In connection with its listing application, the Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under TSX 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 final prospectus dated November 11, 2021, available on SEDAR at www.sedar.com.

FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes statements that use forward-looking terminology such as "may", "could", "would", "will", "should", "intend", "target", "plan", "expect", "budget", "estimate", "forecast", "schedule", "anticipate", "believe", "continue", "potential", "view" or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the completion and proceeds of the Colombian Offering and the Canadian Offering, and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements.

Forward-looking information is based upon estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this press release including, without limitation, assumptions about: favourable equity and debt capital markets; requirements under applicable laws. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.  Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking information, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended. For further information of these and other risk factors, please see the ''Risk Factors" section of the Company's final long form prospectus dated November 11, 2021, available on SEDAR at www.sedar.com.

There can be no assurance that forward-looking information will prove to be accurate, as 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. Forward-looking information contained herein is made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.

SOURCE Mineros S.A.

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