Sun Valley Investments AG Announces Successful Closing of Second Tranche Purchase of Shares of Mineros S.A.

BOGOTÁ, Colombia & TORONTO--(BUSINESS WIRE)--Sun Valley Investments AG (“Sun Valley”) announces the closing of the second tranche of its previously announced transaction pursuant to which Sun Valley acquired 7,463,462 common shares (“Acquired Securities”) of Mineros S.A. (“Mineros” or the "Company", TSX: MSA, CB: MINEROS) from Banderato Colombia S.A.S. (the "Vendor") at a price of C$0.836 per share for aggregate consideration of C$6,239,454.23 (the "Transaction"). The Transaction was completed under applicable laws in Canada and Colombia by way of private agreement pursuant to obligations set forth in the previously announced amended and restated shareholders agreement (the "A&R Shareholders Agreement") among Sun Valley, the Vendor and Acciones y Valores Nuevo Milenio S.A. (together, the "MC Companies"). The Acquired Securities represent 2.49% of the issued and outstanding common shares of Mineros ("Common Shares"). The Transaction did not occur on any stock exchange or other securities market and the Vendor is not located, nor was any offer to acquire Common Shares made to a party, in any province or territory of Canada.

Immediately prior to the Transaction, Sun Valley beneficially owned and exercised control over 67,440,916 Common Shares, representing 22.5% of the issued and outstanding Common Shares. Following the transaction, Sun Valley owns and exercises control over 74,904,378 Common Shares, representing 24.99% of the issued and outstanding Common Shares.

Sun Valley will hold its Common Shares for investment purposes and will evaluate its investment in Mineros on an ongoing basis and may increase or decrease its holdings in Mineros and otherwise engage with the Company in the future, subject to market conditions and other relevant factors. As previously disclosed, the A&R Shareholders Agreement governs Common Shares that the MC Companies continue to hold following the Transaction (the “Remaining Shares”) and, among other things, Sun Valley’s right to direct in certain instances the voting of such Remaining Shares and the terms pursuant to which Sun Valley is required to acquire some or all of the Remaining Shares from the MC Companies, subject to certain conditions, during the term of the A&R Shareholders Agreement.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning Systems and Related Take-Over Bids and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the foregoing matters ("Early Warning Report"). The Early Warning Report will be filed and made available under the SEDAR+ profile of Mineros at www.sedarplus.ca.

The head office address of Mineros is Carrera 43A No. 14-109, Piso 6, Edificio Nova Tempo, Medellin, Colombia.

Sun Valley is a corporation existing under the laws of Switzerland. The head office address of Sun Valley is Bahnhofplatz 6300, Zug, Switzerland.

Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) and Dentons Canada LLP acted as legal advisors to Sun Valley in connection with the Transaction.

About Sun Valley

Sun Valley is a private investment firm focused on the metals and mining industry with portfolio companies and branch offices in the Americas, Europe and Asia. Sun Valley's senior leadership team has several decades of experience in mining and investment companies and combines investment skills across diverse asset classes with hands-on experience at both senior and junior companies in the precious metals mining and refining industry. The firm finances the entire precious metals supply chain: mineral exploration, mine construction, production, processing and refining.