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JOSEMARIA News Release Josemaria Resources Inc. 2000 - 885 West Georgia Street Vancouver BC V6C 3E8 Canada T +1 604 689 7842 F +1 604 689 4250 info@josemariaresources.com josemariaresources.com Josemaria Reports First Quarter 2021 Results May 10 , 2021 : Josemaria Resources Inc. ( TSX : JOSE ) ( OMX : JOSE ) ( OTCQB : JOSMF ) ( " Josemaria Resources " or the " Company " ) , is pleased to announce its results for the three months ended March 31 , 2021 . Adam Lundin , Josemaria Resources ' Chief Executive Officer , comments : " We continue advancing the Josemaria Project following completion of the Feasibility Study in the fourth quarter of 2020 and submission of the Environmental and Social Impact Assessment ( " ESIA " ) in February 2021. Active engagement continues with federal and San Juan provincial authorities in Argentina , including discussions aimed at finalizing and securing commercial and fiscal terms applicable to the project and ESIA approval . We continue to progress the Josemaria Project as we believe current commodity prices support our view of a tightening copper market , where there are a limited number of readily developable projects . " FIRST QUARTER 2021 HIGHLIGHTS On February 23 , 2021 , the Company announced the completion and presentation of the ESIA to Governor Sergio Uñac at a ceremony held in San Juan Province , Argentina . On March 18 , 2021 , the Company announced that Phil S. Brumit Sr. and David Ogonowski have joined the Josemaria team as part of the senior leadership team that will be responsible for ultimately constructing the Company's 100 % -owned Josemaria Copper - Gold Project in San Juan , Argentina . The addition of Phil and Dave to the Company to lead the design , engineering , construction and start - up of the Josemaria Project is another significant milestone for the Company as it continues to progress engineering studies , permitting and the negotiation of commercial terms with host Governments , in advance of a construction decision . On April 19 , 2021 , the Company successfully closed a private placement of 58,708,900 common shares of the Company at a price ( the " Offering Price " ) of $ 0.69 per common share for gross proceeds of $ 40.5 million . Concurrently , the Company also closed a public offering ( the " Offering " ) pursuant to which a syndicate of underwriters purchased , on a bought deal basis , 14,500,000 common shares at the Offering Price for gross proceeds of $ 10.0 million , plus an over - allotment option at the Offering Price of an additional 2,175,000 common shares for gross proceeds of $ 1.5 million , for total combined gross proceeds of $ 52.0 million . The Company estimates related share issuance costs of $ 1.2 million .