Minsud Resources Corp. (TSX-V: MSR) is pleased to announce receipt of assay results from the initial five drillholes completed in the ongoing Phase 3 program over the Chinchillones area, at Chita Valley Project, San Juan province, Argentina. Encouraged by the results to date and advantageous location of the project, the Company continuously drilled through the winter period and plans to expand the current program towards second half of 2021.

Fourteen drillholes were completed to date this year encompassing a total of 6,150 metres. Highlights are listed below, along with accompanying figures.

• CHDH21-23 returned 202m at 0.70% CuEq from 148m (0.13% Cu, 0.77% Zn, 22 g/t Ag) including a higher-grade section of 36.05m at 1.12% CuEq from 271m to 307.05m (0.24% Cu, 47.18 g/t Ag, 0.94% Zn). This drill, oriented SSE, dipping 65° and 707m depth, went below the main resurgent dome and intersected several lithologies affected by intense sericitic alteration with strong secondary silica-sulfide zones. Sulfide mineralization averages 1-3 vol% and consists of veined and disseminated pyrite-chalcopyrite. The principal mineralization is hosted in hydrothermal breccias and intermediate sulphidation veins of sphalerite –galena– chalcopyrite.

The porhyry affiliation is supported by the 84m from 598m to 682 m at 0.35% CuEq (0.17% Cu, 0.14 g/t Au, 4.77 g/t Ag, 85 ppm Mo) characterized by increased molybdenite and chalcopyrite both in veins and as disseminations in porphyry host rocks.

This drill hole, together with CHDH20-04 and CHDH20-05 (Phase 1 – see Press Release dated June 23, 2020) and CHDH20-17 (Phase 2 – see Press Release dated February 5, 2021) support the presence of a porphyry system at depth with linkage to shallow polymetallic Cu-Au-Pb-Zn mineralization.

• CHDH21-21 returned 41m at 0.70% CuEq from 19m to 60m (0.36% Cu, 0.28 g/t Au, 11.24 g/t Ag, 513 g/t Pb, 0.13% Zn). This drill hole is located 100m to the West of CHDH21-23, oriented NNW, dipping 75° and with 378m depth. This interval includes higher-grade vein structures with up to 1.73% Cu and 1.6% Zn hosted in hydrothermal breccias, dacitic and dioritic porphyries. The intervals of higher-grade mineralization coincide with demonstrable strong quartz sericite alteration superposed on a porphyry hosting distinctive porphyry related veins (A-B-D type veins).
• CHDH21-22 Intersected 32m at 0.37% CuEq from 62m to 94 m (0.13% Cu, 0.06 g/t Au, 7.86 g/t Ag, 0.11% Pb, 0.25% Zn). This drill hole is located 100m from CHDH21-21, with a NNW heading, dipping 75° and with 318m depth. It goes through porphyry rocks and phreatic hydrothermal breccias.

Thus, the results so far support continuous polymetallic mineralization (Pb-Ag-Zn-Cu-Au), affiliated with porphyry Cu-Mo mineralization, occurring in a >2km-long, at least 250m-wide NNE-striking zone. The potential for a large porphyry copper-molybdenum system in the Chinchillones area is interpreted here to remain open to the south and at depth.

The drill confirmed higher-grade zones correspond to discrete phreatic hydrothermal breccia bodies traversing the porphyry mineralization, indicating telescoping / hydrothermal collapse of the magmatic system. The presence of multiphase intrusion is thought to indicate cluster of porphyry centers as valid exploration targets.

Ramiro Massa, Minsud’s President & CEO, commented: “The initial results of this Phase 3 ongoing drill program are very encouraging and confirmed the expanded footprint of Zn-Pb-Ag-Cu mineralization affiliated with porphyry bodies over the Chinchillones area. We look forward to receiving the balance of pending geochemical results as well as continuing our drill program at the Chita Valley Project”.

Quality Assurance/Quality Control

All core samples were submitted to the ALS Global Laboratories in Mendoza, Argentina for preparation and analysis. All samples were analyzed for Au by fire assay/ AA finish 50g, plus a 48-element ultra-trace four acid digest with ICP-MS and ICP-AES finish. Minsud followed industry standard procedures for the work with a quality assurance/quality control (QA/QC) program. Field duplicates, standards and blanks were included with all sample shipments to the principal laboratory. Minsud detected no significant QA/QC issues during review of the data.

Mr. Mario Alfaro, Professional Geoscientist, VP-Exploration of the Company, is a qualified person as defined by Canadian National Instrument 43-101. Mr. Alfaro visited the property and has read and approved the contents of this release.

About the Chita Valley Project, San Juan Province:

The Chita Valley Project is a large exploration stage porphyry system with classic alteration features, widespread porphyry style Cu-Mo-Au and polymetallic Ag-Pb-Zn mineralization hosted by Hydrothermal Phreatic Breccias and associated gold and silver-bearing polymetallic veins of intermediate sulfide composition that conformed an outcropping porphyry system at Chita and a lithocap of a porphyry system at Chinchillones. San Juan Province of Argentina has a robust mining sector and recognizes the important economic benefits of responsible development of its substantial Mineral Resource endowment.

About Minsud Resources Corp.

Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early-stage prospects, including 6,000 ha in Santa Cruz Province, Argentina.