Inventus Announces Closing of Transaction with Endurance

TORONTO, ONTARIO--(Marketwired - Nov. 30, 2016) - Inventus Mining Corp. (TSX VENTURE:IVS)("Inventus" or the "Company") today announces that it has completed the previously announced purchase of the 35.5% interest in the Pardo Joint Venture from Endurance Gold Corporation ("Endurance") in exchange for the issuance of 25,500,000 common shares of the Company and a cash payment of $75,000. As a result of this transaction, Inventus now owns 100% of the assets comprising the Pardo Joint Venture. The purchased property is subject to a pre-existing 3% net smelter return royalty, of which 1.5% can be purchased for $1.5 million at any time (the "Pardo Royalty").

As part of the transaction Endurance and Inventus have agreed:

1. To end the current arbitration process, with each party paying 50% of the arbitrator's fee and their own respective costs;

2. To release the other party from all liabilities, damages, losses or expenses arising from the Joint Venture and the Pardo Royalty;

3. That Inventus will assume all responsibility to fund the expenditures already incurred as part of the approved 2016 Pardo Joint Venture program; and

4. For as long as Endurance holds 10% or more of Inventus' issued and outstanding common shares:

1. Endurance will be entitled to appoint a representative to the Board of Directors of Inventus;

2. Endurance will vote its shares in favour of proposals recommended by management of Inventus, other than a Change of Control transaction where it may vote without restrictions;

3. Prior to selling any of its Inventus common shares Endurance will provide Inventus an opportunity to find a buyer, and subsequently if it does sell shares to another purchaser that it will be on terms no less favourable than those proposed to Inventus; and

4. Inventus shall grant Endurance the right (but not the obligation) to participate pro-rata in future financings of Inventus thus maintaining its percentage ownership.

5. Other customary representations, warranties, covenants and conditions.

Inventus will now devote all our resources to the exploration and development of the Pardo project in the swiftest and most efficient manner possible. Currently we are conducting a geostatistical study that is a critical step in determining future exploration and bulk sampling activities, and ultimately the computation of a mineral resource estimate on the property.

Subsequent to the closing of the transaction Inventus has 100,304,403 common shares outstanding (108,898,570 shares on a fully diluted basis). Endurance owns 25.4% of the issued and outstanding shares, Robert McEwen owns 18%, Eric Sprott owns 13.6%, Osisko Gold Royalties Ltd. owns 6%, and the former Chairman and CEO Wayne Whymark owns 6.4%. Inventus currently has $1.0 million in cash and no debt.

About Inventus Mining Corp.

Inventus is a mineral exploration company focused on the world class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America.

Visit http://www.inventusmining.com for more information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Forward-Looking Statements

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "if", "yet", "potential", "undetermined", "objective", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.