Josemaria Resources Inc. Provides Corporate Update

VANCOUVER, Sept. 2, 2019 - Josemaria Resources Inc. (TSX and Nasdaq Stockholm - JOSE) (the "Company" or "Josemaria") is pleased to announce the appointment of Mr. Ian Gibbs as Chief Financial Officer of Josemaria, replacing Ms. Joyce Ngo, who is taking on the role of Corporate Controller, effective September 3, 2019.

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"It is with great pleasure that I announce the appointment of Ian as our new Chief Financial Officer," said Josemaria President and Chief Executive Officer, Wojtek Wodzicki. "With the Josemaria feasibility study underway, and the recent completion of the Company's spinout of its Los Helados project and other exploration assets to NGEx Minerals Ltd., the Company's focus has now shifted to advancement of its 100% owned Josemaria Project.  As the Josemaria Project heads towards a development decision, the demands on the Company's finance team will undoubtedly increase, with one of the key aspects to successful development being project financing.  Ian brings with him a wealth of knowledge and experience having served as a member of the executive management team or as a director of various successful resource companies and will be a cornerstone of at the Company as we strive to unlock further value at Josemaria for our stakeholders.

Joyce's contribution over the last two and a half years, as the Company's CFO, have been instrumental to the Company's successes to-date, and I am confident that her continued contributions in the role of Corporate Controller will carry the Company steadily into this new phase."

Mr. Gibbs is a Canadian Chartered Accountant and a graduate of the University of Calgary where he obtained a Bachelor of Commerce degree. He has held a variety of prominent positions within the Lundin Group of companies, most recently serving as CFO of Africa Oil Corp., a TSX and Nasdaq Stockholm listed Canadian oil and gas company with assets in Kenya and Ethiopia. Previously, Mr. Gibbs was CFO of Tanganyika Oil where he played a pivotal role in the sale of the company to Sinopec International Petroleum for $2 billion. Prior to Tanganyika Oil, Mr. Gibbs was CFO of Valkyries Petroleum, which was the subject of a $750 million takeover. Mr. Gibbs has also held a directorship position with Lundin Gold Inc. since inception in 2014, and Africa Energy Inc, since 2011.

About Josemaria

Josemaria Resources Inc. is a Canadian natural resources company focused on advancing the development of its wholly-owned Josemaria copper-gold project in San Juan Province, Argentina.  The Company is a reporting issuer in the Provinces of British Columbia, Alberta, Ontario and Quebec and its corporate head office is in Vancouver, BC. The Company's shares are listed on the TSX and on Nasdaq Stockholm under the trading symbol "JOSE".

Additional Information

This information was submitted for publication, through the agency of the contact person set out below, on September 2, 2019 at 11:00 p.m. Pacific Time.

On behalf of the board of directors of Josemaria Resources,

Wojtek Wodzicki,
President and CEO,
Josemaria Resources Inc.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"), concerning the business, operations and financial performance and condition of Josemaria Resources Inc. The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is necessarily based on estimates and assumptions that are inherently 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 but not limited to: risks and uncertainties relating to, among other things, the inherent uncertainties regarding cost estimates, changes in commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration activities, cost overruns, availability of financing, materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations, as well as other risks and uncertainties more fully described under "Risk Factors" and elsewhere in the Company's most recent Annual Information Form available under the Company's profile at www.sedar.com and on the Company's website. These risks and uncertainties 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.

SOURCE Josemaria Resources Inc.