Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG)  is pleased to announce that it has raised CAD$2,965,000. The funds were raised in a combination of private placement of Orea units (see news release dated March 31, 2020) and the sale of common shares of a third-party publicly traded company held in Orea’s investment portfolio.

On February 13, 2020, Orea announced a non-brokered private placement for gross proceeds of CAD$2.5 million, of which a first tranche totaling CAD$1.39 million was closed on March 31, 2020. Given the recent favorable recovery of the junior gold sector, Orea was able to monetize third-party shares it held, hence reducing the size of the Private Placement and the need for another tranche, which thereby results in the important effect of minimizing dilution to Orea shareholders. Orea expects to monetize additional third-party shares in its investment portfolio in the near future.

The proceeds from the Private Placement and the third-party share sale will be used for general working capital purposes, with a particular emphasis on the identification and acquisition of additional accretive gold project opportunities for Orea and its shareholders.

About Orea Mining

Orea Mining is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea Mining holds a major interest in the world-class Montagne d’Or mine development project. It is also advancing the Maripa gold exploration project where past drilling had returned excellent near surface results, including 36 meters of 4.3 g/t gold.