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Miramont Acquires New Cerro Hermoso Concessions

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Vancouver, British Columbia–(Newsfile Corp. – July 12, 2018) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has entered into an option agreement to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru. This concession gives Miramont full control of the Pocomoro zone where highly anomalous copper and silver has been identified in surface rock samples. The combined area of the project is now 1318 hectares and includes the entire diatreme system that controls mineralization in the district.

The Pocomoro area encompasses the southwestern limit of the diatreme. It is along the same ring-fracture system as the Santa Barbara vein and is considered its southern extension. Over 750,000 tons at an average grade of 15 oz/t, Ag, 1% Cu, 2% Zn, 2% Pb and 1.0 g/t Au were historically mined from complex veins and breccia bodies in the combined Santa Barbara and Pocomoro mines1.

Selective geochemical sampling of small veins and veinlets in the Pocomoro area has yielded values as high as 7.8%, 3.3% and 3.2% Cu as well as 1294 ppm (37.7 oz/st), 1022 ppm (29.8 oz/st) and 767 ppm (22.4 oz/st) Ag. Twenty two of the 57 samples collected in this area yielded results greater than 1% Cu. The Pocomoro zone is also underlain by an emerging ground magnetic anomaly that may indicate the presence of a buried intrusion. Additional work to prepare drill targets may consist of follow up geophysics. The accompanying map shows the location of copper samples while the chart provides the assay data.

Bill Pincus, Miramont’s President and CEO said, “The acquisition of Milenios 32 is significant as it gives us full control of the diatreme system as we now know it. The presence of copper and silver in the area is very encouraging and we look forward to detailed exploration in this area. Surface copper, gold and silver mineralization is now found in an area covering almost five square kilometers at Cerro Hermoso and it continues to shine as an exceptional prospect.”

Under the terms of the agreement, Miramont has been granted a four-year option to acquire the concession from its private owner. Miramont must make payments as follows to maintain the option: US$20K on signing (paid), US$25K on the first anniversary, US$30K on the second anniversary and US$35K on the third anniversary. Miramont may exercise its option on the fourth anniversary by paying the greater of US$1 for each ounce of gold contained in a NI 43-10 compliant resource (on the concession) or $200K. There are no work commitments or royalties on the property.

____________________

1 The estimate of mined material is from historical reports and has not been independently verified.

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CERRO HERMOSO PROJECT
Geochemistry map – Cu_ppm

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Pocomoro Sector Rock Geochemistry
ID Type sample Width (m) Cu_ppm Ag_ppm Au_ppm
262 Channel 1.30 737 7.8 0.00
263 Channel 1.10 6,253 86.3 0.02
265 Channel 1.20 470 10.4 0.01
266 Channel 1.20 25 0.4 0.00
342 Channel – Select 0.5 12,300 23.9 0.01
343 Channel – Select 0.6 7,218 11.3 0.01
344 Channel – Select 2 1,110 4.6 0.00
345 Channel – Select 2 1,834 8.4 0.00
346 Channel – Select 0.3 62 0.1 0.00
347 Select 22 0.1 0.00
348 Select 756 87.7 0.00
349 Channel – Select 15,960 1294 0.20
350 Channel – Select 0.1 787 94.2 0.01
351 Select 89 8.5 0.00
352 Channel – Select 11,820 767 0.05
353 Select 32,870 216 12.19
354 Channel – Select 1 2,978 360 0.95
355 Select 8,722 376 0.01
356 Select 69 2.3 0.01
497 Channel 1.5 78,480 122 0.02
498 Chip – Select 2×2 16,530 9.9 0.04
499 Chip – Select 2×2 18,210 15.8 0.03
500 Channel – Select 9,054 9.1 0.03
501 Select 3,192 1.9 0.01
503 Chip – Select 2×2 16,870 11.6 0.01
504 Select 3,641 3.6 0.01
505 Channel – Select 32,390 26.1 0.04
506 Channel 1.3 4,395 2.2 0.01
507 Channel 1.6 30,460 11.1 0.01
508 Channel 1.2 16,500 3.8 0.01
509 Channel 1 27,210 10.3 0.01
510 Channel 1.2 18,350 20.9 0.02
511 Channel 1.2 15,380 5.7 0.01
513 Channel 1 10,640 6.4 0.01
514 Channel 1 186 0.3 0.01
515 Chip 3×3 216 0.1 0.00
516 Channel 1.1 27,220 10.9 0.02
517 Channel – Select 1.4 19,710 18.9 0.02
518 Channel – Select 0.8 26,300 39.8 0.01
519 Channel – Select 25,650 35.7 0.03
520 Select 0.4 14,800 12.3 0.02
521 Chip 1×1 6,400 6.3 0.01
522 Channel 2 732 0.5 0.00
524 Chip 2×2 737 0.8 0.00
525 Chip 2×3 317 0.5 0.00
526 Chip 2×3 333 0.5 0.00
527 Chip 3×3 749 0.8 0.00
528 Chip 1×1 59 0.1 0.00
529 Select 21 0.1 0.00
530 Chip – Select 1×1 22,680 16.2 0.01
531 Chip – Select 1×1 52 0.1 0.00
532 Chip 2×2 53 0.1 0.00
533 Chip 3×3 121 0.5 0.00
534 Chip 2×3 284 0.7 0.01
559 Channel – Select 1.5 810 20.9 0.01
560 Select 28,210 1022 0.02
N.B. Many samples are selective and include detailed sampling of vein and veinlet material within surrounding low-grade country rock. Values are indicative of extent and nature of the mineralization but should not be considered as indicative of grades that may be encountered over reasonable mining widths.