Ms. Aurora Davidson reports

AMERIGO REPORTS Q2-2025 OPERATIONAL RESULTS

Amerigo Resources Ltd. has released operational results for the quarter ended June 30, 2025, from Minera Valle Central (MVC), the company's 100-per-cent-owned operation located near Rancagua, Chile. Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

"Operational results during the second quarter of the year were slightly better than expected as inclement weather production interference at MVC was lower than allowed for in our guidance. MVC produced 15.52 million pounds of copper and 0.39 million pounds of molybdenum during Q2 2025. Having reached the half-year mark for 2025, our production and cash cost guidance remains on track," said Aurora Davidson, Amerigo's president and chief executive officer.

Copper prices continued to climb throughout the quarter, exhibiting solid increases from the $4.17 LME (London Metal Exchange) average copper price in April, 2025. The positive momentum in copper pricing has remained in place through early July, 2025. These rising copper prices have enabled Amerigo to execute its strategy of eliminating minimal debt by year-end 2025 while continuing to fully deploy its capital return strategy.

"Amerigo's capital return strategy includes quarterly dividends, performance dividends and share buybacks. During the second quarter, Amerigo returned $7.6-million to shareholders, bringing the total capital returned during the first half of the year to $12.1-million," Ms. Davidson added. In Q2 2025, MVC produced 15.5 million pounds of copper and 380,000 pounds of molybdenum. During the quarter, MVC's plant availability was 99.0 per cent and there were no lost-time accidents involving MVC employees.

Copper production for the first half of 2025 (H1 2025) was 28.8 million pounds, representing 46 per cent of Amerigo's 2025 copper production guidance of 62.9 million pounds. H1 2025 molybdenum production of 620,000 pounds is also in line with Amerigo's annual molybdenum production guidance of 1.3 million pounds. Amerigo performed its yearly maintenance shutdown during Q1 2025, and the associated production impact is factored into the 2025 guidance.

Amerigo's cash cost in Q2 2025 was $1.82 per pound and H1 2025 cash cost was $2 per pound. Based on the operational and cost projections for the remainder of 2025, Amerigo's annual cash cost guidance of $1.93 per pound (excluding MVC's collective agreement signing bonuses) remains valid.

Amerigo's average provisional copper price in Q2 2025 was $4.42 per pound, which was also the company's average provisional copper price in Q1 2025. Q1 2025 copper deliveries were marked to market on March 31, 2025, at $4.42 per pound and settled at the LME average monthly prices for April, 2025 ($4.17 per pound), May, 2025 ($4.32 per pound), and June, 2025 ($4.46 per pound).

The company's average molybdenum price was $20.44 per pound, up from $20.14 per pound in Q1 2025.

In Q2 2025, Amerigo returned $7.6-million to shareholders, $4-million through share buybacks and $3.5-million through the quarterly dividend. H1 2025 capital returned to shareholders totals $12.1-million ($7-million in quarterly dividends and $5.1-million in share buybacks).

On June 30, 2025, Amerigo's cash position was $23.3-million ($12.6-million lower than Dec. 31, 2024), and restricted cash was $900,000 ($3.5-million lower than Dec. 31, 2024). Outstanding bank debt was $7.5-million ($4-million lower than Dec. 31, 2024).

Capital return strategy (CRS)

Since implementing its CRS in October, 2021, Amerigo has returned $90.2-million to shareholders, $59.5-million through quarterly and performance dividends, and $30.7-million through share buybacks, reducing by 14 per cent the number of common shares outstanding at the inception of the CRS.

Amerigo's CRS consists of three mechanisms: quarterly dividends, performance dividends and share buybacks. These mechanisms provide shareholders with a consistent return on invested capital and quickly transfer the benefits of rising copper prices to Amerigo's shareholders.

Release of Q2 2025 financial results on July 30, 2025

Amerigo will release its Q2 2025 financial results at the market open on Wednesday, July 30, 2025.

Investor conference call on July 31, 2025

Amerigo's quarterly investor conference call will be held on Thursday, July 31, 2025, at 11 a.m. Pacific Daylight Time/2 p.m. Eastern Daylight Time. Participants can join on-line and enter their names and phone numbers. The conference system will then call the participants and place them instantly into the call.

Alternatively, participants can dial directly to be entered into the call by an operator. Dial 1-888-510-2154 (toll-free North America) and state you wish to participate in the Amerigo Resources Q2 2025 earnings call.

Interactive analyst centre

Amerigo's public financial and operational information is available for Excel download through Virtua's interactive analyst centre (IAC). You can access the IAC by Amerigo's website under investors and interactive analyst centre.

About Amerigo Resources Ltd.

Amerigo is an innovative copper producer with a long-term relationship with Corporacion Nacional del Cobre de Chile (Codelco), 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.

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