TORONTO, June 17, 2024 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) ("Euro Sun" or the "Company") is pleased to provide the voting results from the Annual General and Special Meeting of shareholders in accordance with the policies of the Toronto Stock Exchange.

The Company announces that the nominees listed in the management proxy circular dated May 10, 2024 (the "Circular") for the 2024 annual general and special meeting of shareholders of the Company (the "Meeting") were elected as directors of the Company. Shareholders at the Meeting also approved the appointment of the Company's auditors.

Detailed results of the vote for the election of directors held at the Meeting on June 17, 2024 in Toronto, Ontario are set out below.

Election of Directors

The shareholders approved the election as directors of the persons listed below, based on the following vote.

Shareholders voted 94.715% in favour of the approval of the appointment of the Company's auditors, with 5.285% of shareholders withholding their vote on the appointment of auditors.

Shareholders at the Meeting also approved the Company's share incentive plan (the "Share Incentive Plan"), with 79.914% in favour and 20.086% against. A total of 34,040,199 common shares were voted in connection at the Meeting, representing approximately 10.62% of the issued and outstanding common shares of the Company.

Euro Sun's board would like to express its gratitude to its shareholders for their participation and support.

Amendment to Royalty Agreement and Re-payment of Debenture

The Company is pleased to announce that it has entered into an amendment (the "Amendment") to the net smelter return royalty agreement (the "Agreement") with certain purchasers (together, the "Holder") for the Company's Rovina Valley Project (the "Property"), pursuant to which the remaining payments owing under the Agreement are to be paid (a) US$660,000 on June 14, 2024 (the "Initial Final Payment") and (b) the remainder by September 30, 2024. In connection with the Amendment and the Initial Final Payment, the Company has repaid all principal owing under the secured debenture of the Company dated December 6, 2023.

The Company thanks the Holder for their continued support of the Rovina Valley Project.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining Company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

The Project supports a circular economy by unlocking much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition. The Project adopts the latest in modern mining environmental methodology and uses no cyanide or wet tailings in processes.

Further information:

For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com

Caution regarding forward-looking information:

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Meeting and payments under the Agreement. Forward-looking information is 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 risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at and on the Company 's website at . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.