Ms. Aurora Davidson reports

AMERIGO'S MVC SIGNS COLLECTIVE LABOR AGREEMENT WITH ITS SUPERVISORS UNION

On Jan. 8, 2024, Minera Valle Central, Amerigo Resources Ltd.'s 100-per-cent-owned operation located near Rancagua, Chile, satisfactorily concluded negotiations with its 68-member union of supervisors.

The parties have entered into a new three-year collective agreement with a term date of Jan. 7, 2027.

"We are pleased to report that negotiations with MVC's union of supervisors concluded satisfactorily. A new three-year collective agreement is now in place," said Aurora Davidson, Amerigo's president and chief executive officer. "Our supervisors are an essential part of the MVC work force. This collective labour agreement provides visibility on the operational and financial objectives at MVC and confirms our commitment to continue being an employer of choice in Chile," she added.

MVC has two unions: plant operators and supervisors. The three-year collective agreement for MVC's plant operators has a term date of Oct. 28, 2025.

About Amerigo Resources Ltd. and MVC

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporacion Nacional del Cobre de Chile, the world's largest copper producer.

Amerigo produces copper concentrate and molybdenum concentrate as a byproduct at the MVC operation in Chile by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine.