Orsu Metals Corporation updated on the results of the first phase of pilot mining at its Sergeevskoe project. From September 7, 2020 to November 28, 2020 (First Phase of pilot mining) the Company and Alexandrovskoe gold mine, its primary contractor ("Contractor"), extracted and processed 176,000 tons of mineralized material from Sergeevskoe. The average grade of the mineralized feed material as assayed at the entrance to the processing plant over this period has been 1.41 grammes per ton ("g/t") gold after mining dilution and mining loss. This is consistent with the geological model of the deposit and grade control drilling. The plant of the Alexandrovskoe gold mine, not originally designed to treat the Sergeevskoe mineralization, is located approximately 5 km west from the pilot pits at the Sergeevskoe project. It uses gravity-flotation-cyanidation with carbon-in- leach to recover gold. Over the first phase of pilot mining, gold recoveries averaged 65%. The recoveries into gravity concentrate exceeded their expectations while we believe that recoveries into flotation concentrate can be materially improved by adjusting the cyanidation time and optimization of absorption and desorption circuit. The plant extracted 155.7 kilograms of gold or approximately 5,000 ounces of gold into Dore bars, which were delivered to the refinery. The Company's proportion of these sales, after deduction the Contractor's cost of processing is estimated to be RUB 175 million (approximately USD 2.3 million) of which 75 million has been received with the remainder to be paid to the Company through to April 2021. 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. Qualified Person: Alexander Yakubchuk, the Company's Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed, verified and approved the exploration information disclosures contained in this press release.