Orea Mining Corp. (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG) is pleased to announce that it has closed its non-brokered private placement previously announced on January 14, 2021.

The Private Placement was oversubscribed, raising gross proceeds of CAD$1,400,000 through the issuance of 8,235,294 units at a price of CAD$0.17 per unit. Each unit is comprised of one common share of Orea, and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.30 for a period of 18 months from the closing date of the Private Placement. An aggregate of 548,471 units has been paid in finders’ fees. The securities issued in the Private Placement are subject to a hold period expiring on May 22, 2021.

The proceeds of the Private Placement will be used for general working capital purposes.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

About Orea

Orea 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 holds a major interest in the world-class Montagne d’Or mine development project. It is also advancing the Maripa gold exploration project.