New Oroperu Announces Transfer of Surface Land Rights on Tres Cruces

Vancouver, British Columbia--(Newsfile Corp. - September 27, 2021) - New Oroperu Resources Inc. (TSXV: ORO) ("New Oroperu") is pleased to announce that its wholly owned Peruvian subsidiary, Aurifera Tres Cruces S.A. ("ATC") has entered into an agreement with Minera Boroo Misquichilca S.A., formerly Minera Barrick Misquichilca S.A. ("MBM"), to acquire the surface land rights held by MBM on the Tres Cruces property.

On December 18, 2006, ATC and MBM entered into a Mining Assignment Agreement (Contrato de Cesion Minera) for the purpose of MBM's operations on the Tres Cruces property, which terminated on September 10, 2021. Pursuant to the Mining Assignment Agreement, ATC and MBM have entered into agreements for the transfer to ATC and payment to MBM, at book value, of the land surface rights held by MBM over the Tres Cruces property. ATC is obligated to make payment to MBM and complete the transfers on the earlier of November 4, 2021 and 7 business days following the closing of the Arrangement Agreement between First Light Capital Corporation and New Oroperu (See News Release dated June 17, 2021). Following the payment and transfer of the surface land rights to ATC, the termination of the May 31, 2002, Share Purchase Option and Joint Participation Agreement between MBM and New Oroperu et al. will be executed, and the Tres Cruces drill core will be released to ATC.

New Oroperu thanks those involved to complete these surface land transfers. We look forward to the development of the Tres Cruces project, following the completion of the Arrangement Agreement with First Light Capital Corporation, to be renamed as Anacortes Mining Corporation.

Anacortes Mining Corporation is well financed and staffed to continue the advancement of the Tres Cruces project towards feasibility under the guidance of Jim Currie, President.

About New Oroperu

New Oroperu is a junior exploration company based in Vancouver, B.C., which owns the Tres Cruces gold project in Peru. The Tres Cruces gold project currently hosts a mineral resource estimate of 2.474 million ounces of gold at 1.65 g/t in the Indicated category, which includes 630,000 ounces of leachable gold resources. This mineral resource is described in a NI 43-101 Technical Report & Resource Update for the Tres Cruces project, North-Central Peru, prepared for New Oroperu by Jeffrey D. Rowe, James N. Gray and Ruperto Castro Ocampo with an effective date of March 16, 2021, which has been filed on New Oroperu's profile on SEDAR and can be viewed at www.sedar.com.

Jeffrey D. Rowe, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

For further information, please contact Christina McCarthy, V.P. Corporate Development of New Oroperu, at (416) 712-6151, email christina@oroperu.com or K. Wayne Livingstone, President and Chief Executive Officer of New Oroperu, at (604) 638-1408, email kwl@oroperu.com.

About First Light

First Light is a capital pool company pursuant to Policy 2.4 of the TSXV. Except as specifically contemplated in such policy, until the completion of its Qualifying Transaction (as defined in the policy), First Light will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a proposed QT. Investors are cautioned that trading in the securities of a capital pool company is considered highly speculative.

For further information, please contact Jim Currie, President and Chief Executive Officer of First Light, at (604) 764-7108.

Cautionary Note Regarding Forward Looking Information

This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation ("Forward-looking Statements"). All statements included herein, other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward-looking Statements.

The Forward-looking Statements in this news release may include, without limitation, statements about New Oroperu's current expectations and projections for the closing of the Arrangement Agreement, the payment and transfer of the surface land rights, the termination of the May 31, 2002 agreement with MBM and the transfer of the Tres Cruces drill core to ATC. Often, but not always, these Forward-looking Statements can be identified by the use of words such as "anticipated", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "planned", "reflecting", "will", "anticipated", "estimated" "containing", "remaining", "to be", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking Statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the ability of New Oroperu to control or predict and which may cause actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such risks, uncertainties and factors include, among others, the completion and timing of the Arrangement Agreement, the payment and transfer of the surface land taxes, the termination of the May 31, 2002 agreement with MBM and the transfer of the Tres Cruces drill core to ATC; changes in general economic conditions and financial markets; political risks; risks relating to the current and potential adverse impacts of the COVID-19 pandemic on the economy, financial markets and the parties' operations; and risks inherent in mineral exploration. Although Forward-looking Statements contained in this news release are based upon what each of the parties believe are reasonable assumptions at the time they were made, such statements are made as of the date hereof and New Oroperu disclaims any obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that these Forward-looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward-looking Statements.

This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97724