EURO SUN PROVIDES CORPORATE UPDATE ON ROVINA VALLEY

• FILES 2019 ANNUAL FINANCIAL STATEMENTS
• FILES 2019 ANNUAL INFORMATION FORM

TORONTO, March 26, 2020 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to provide a corporate update and comment on the current strategy regarding development of the ten million gold equivalent ounce Rovina Valley Project (“RVP”).

The Company is also pleased to report it has filed its 2019 annual financial statements and MD&A along with the 2019 Annual Information Form on time despite the relief by the regulators to allow for a delay in regulatory filings. These documents can be found on the company website as well as on The System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com

In response to many questions from shareholders, we would like to review the approach being taken for development at RVP so that all investors have a clear understanding of the ultimate value of this world class gold development project.

The Company has two key milestones in progress for completion or substantial completion in 2020.  The two targeted deliverables include the Construction Permit and the Definitive Feasibility Study. The current global COVID-19 crisis may have an impact on timing that currently is hard to predict, but we are confident that any delays may be minimal. These deliverables are significant risk reduction events for Euro Sun and should have a materially positive effect on the Company.

Construction Permit Process

The Exploitation License ratified by the Romanian Government allows the Company to make official requests to the County Council of Hunedoara for Certificates of Urbanism. In order to advance to the construction phase there are two certificates required, the Area Land Use Plan and the Project Technical Design.

The Certificate of Urbanism for Plan (Land Use) is a documentary process that results in a change of land assignment by the county to permit utility and future development for a category change for economic activities.  Essentially, a re-zoning is required from the current land use being pastoral and/or state forest to zoning for commercial activities.  In order to complete this process, Euro Sun has engaged MetricSpace, an architectural and urban planning firm based in Cluj-Napoca, Romania to provide all the necessary documentation and support to the chief architect of the county.