Mineros Reports Fatal Accident at its Nechi Alluvial Property

MEDELLIN, May 29, 2022 - Mineros S.A. (TSX: MSA) (CB: MINEROS) ("Mineros" or the "Company") regrets to report an accident resulting in multiple fatalities at its Nechi Alluvial Property ("Nechi"), Colombia.

On the afternoon of 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, seven employees and one contractor, were working on the Plant at the time of the accident. Two people were rescued uninjured and were checked by local health professionals. Two people were confirmed dead and the remaining four, one contractor and three employees, are currently unaccounted for. Counseling and support is being provided to the affected families and personnel.

Andrés Restrepo, President and CEO of Mineros, commented "We are deeply saddened by the loss of life at our Colombian operations. On behalf of the entire Company, I would like to extend our sympathy to the families, friends and coworkers impacted by this accident. We will continue to support all those affected; Mineros remains committed to the well-being of all of its personnel."

Immediately following the accident the Company's emergency protocols were activated. These protocols included mobilization of the Company's emergency response team in coordination with the relevant local entities, notification to the appropriate government authorities and assistance to affected workers. A rescue operation commenced immediately and a coordinated search for the missing workers is currently underway.

All on-site operations have been suspended while the Company and authorities investigate the accident.

As of the time of this news release, no environmental impact has been reported from the storm or the overturning of the Plant. The Company continues 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.