Orsu Metals Corporation provided an update on its exploration activities at the Sergeevskoe project located in Russia. The Company is conducting a geochemical sampling survey to collect 2,800 soil samples, covering approximately 5.5 square kilometres of the entire license area outside of the resource envelope located in the southeast of the Sergeevskoe licence area. As of July 14, 2021, the geochemical survey work is about 10% complete. The geochemical survey is being funded from the Company's share of proceeds from the sale of gold extracted from three open pits on the Sergeevskoe project. The pilot mining program was conducted in 2020 in partnership with the neighbouring Alexandrovskoe gold mine (the "Contractor"). A total of approximately 5,000 ounces were recovered and processed at the Alexandrovskoe plant. The Company's share of the sale proceeds after deducting the Contractor's cost of processing was 198 million Russian rubles (approximately $2.6 million) of which 78 million ($1 million) was received 2020 and the remaining $1.6 million in 2021. In 2020, the Company paid approximately RUB 69 million (approximately $0.91 million) in mineral extraction tax and may have to pay income taxes on this revenue stream. Orsu and the Contractor mutually decided to suspend pilot mining temporarily given the need for the Contractor to revert to mining and processing its own ores.