Euro Sun Announces Extension of Outstanding Warrants

TORONTO, May 07, 2018 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX:ESM) ("Euro Sun" or the "Company") announces that it has applied to the Toronto Stock Exchange (the "TSX") to extend the expiry date of the 3,932,425 outstanding common share purchase warrants ("Warrants") that were originally issued by the Company on May 19, 2016. Each Warrant is currently exercisable to acquire one common share of the Company (a "Common Share") at a price of $2.18 per Common Share until May 19, 2018; provided that, in the event that the trading price of the Common Shares on the TSX exceeds $2.72 for a period of 20 consecutive trading days, the Company has the right (but not the obligation) to accelerate the expiry date of the Warrants to a date which is not less than 30 days after the date on which the Company gives notice of such accelerated expiry date to the holders of the Warrants.

Subject to final approval of the TSX, the expiry date of the Warrants will be extended by six months to November 19, 2018, subject to the accelerated expiry noted above. If approved by the TSX, the effective date of the amendment will be May 19, 2018. None of the Warrants are held by insiders of the Company.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

Further information:

Investor Relations at [email protected] or +1 416.309.4299.

Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.