Ms. Aurora Davidson reports

AMERIGO REPORTS STRONG Q2-2026 OPERATIONAL RESULTS

Amerigo Resources Ltd. has released operational results for the quarter ended June 30, 2026, from Minera Valle Central, 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.

"MVC delivered another strong quarter, producing 16.9 million pounds of copper with 99-per-cent plant availability. First-half production and normalized cash costs are tracking ahead of guidance, reflecting excellent operational execution and strong molybdenum byproduct credits. These results position us for strong full-year 2026 performance," said Aurora Davidson, Amerigo's president and chief executive officer.

"Our business continues to demonstrate the advantages of Amerigo's model: stable production, low sustaining capital requirements and strong cash generation. Those characteristics and a debt-free balance sheet allow us to return significant excess cash to shareholders while maintaining financial strength and flexibility. The record 18-Canadian-cent performance dividend declared on July 6, 2026, is an excellent example of the direct outcome of that approach," Ms. Davidson added.

In second quarter 2026, MVC produced 16.9 million pounds of copper and 400,000 lb of molybdenum. This was achieved by excellent operational execution, 99.0-per-cent plant availability and a clean workplace safety record.

Copper production for the first half of 2026 was 31.2M lb, outpacing the company's internal first half production target. Production achieved in H1 2026 represents 49 per cent of Amerigo's 2026 copper production guidance of 63.8M lb. H1 2026 molybdenum production of 700,000 lb is also in line with Amerigo's annual production guidance of 1.5M lb. Amerigo performed its annual maintenance shutdown in first quarter 2026, and the associated production impact is reflected in the H1 2026 production results and the annual guidance.

In Q2 2026, cash cost was $1.74 per pound, and normalized cash cost was $1.60 per lb. Normalized cash cost excludes the signing bonus associated with a three-year collective labour agreement with MVC's supervisors' union, paid in Q2 2026. The collective agreement with the supervisors will cover the term from Jan. 8, 2027, to Jan. 8, 2030.

H1 2026 cash cost was $1.78 per lb, and normalized cash cost was $1.70 per lb, compared with Amerigo's normalized cash cost guidance of $1.98 per lb. Outperformance over guidance was positively influenced by strong molybdenum byproduct credits, which benefited from rising molybdenum prices in Q2 2026.

The company's average molybdenum price in Q2 2026 was $29.15 per lb, up from $25.58 per lb in Q1 2026.

Provisional pricing for Q2 2026 copper deliveries

Amerigo's copper deliveries are priced for sale on an M+3, or three-month, basis. This contractual arrangement creates three pricing steps.

First, monthly deliveries are priced on a provisional basis using the average London Metal Exchange copper price for that month. These monthly deliveries are then marked to market on a provisional basis at the end of each reporting period. Ultimately, each monthly delivery is settled at a final price based on the LME average copper price for the third month following delivery.

Final pricing in Q2 2026 for Q1 2026 copper deliveries

During Q2 2026, all final price settlements for MVC's Q1 2026 copper deliveries were positive (final prices exceeded provisional prices). Q1 2026 copper deliveries were marked to market on March 31, 2026, at an average price of $5.70 per lb and were settled at the LME average monthly copper prices for April, May and June, 2026.

Capital return strategy

Amerigo's low sustaining capital requirements allow a significant portion of operating cash flow to be directed to shareholder returns while preserving balance sheet strength.

In Q2 2026, Amerigo paid $25.2-million to shareholders, including $18.7-million in performance dividends, $4.8-million in quarterly dividends and $1.7-million through share buybacks. H1 2026 payments to shareholders were $41.7-million, including $24.6-million in performance dividends, $9.5-million in quarterly dividends and $7.6-million in share buybacks.

Amerigo had 295,451 fewer shares outstanding on June 30, 2026, than on Dec. 31, 2025, reflecting the continued use of share buybacks alongside dividends to enhance per-share value.

As of June 30, 2026, Amerigo's cash position was $50.3-million. On July 6, 2026, Amerigo declared a performance dividend of 18 Canadian cents per share, representing approximately $20.5-million, payable on Aug. 6, 2026, to shareholders of record as of July 13, 2026.

Since implementing its CRS in October, 2021, Amerigo has returned $140.2-million to shareholders through dividends and share buybacks while reducing shares outstanding by 15.1 per cent and maintaining a strong financial position.

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 enable the rapid transfer of the benefits of rising copper prices to Amerigo's shareholders.

The performance dividend declared on July 6, 2026, is the largest in the company's history and brings total performance dividends declared year to date to 34 Canadian cents per share. The declaration reflects both the strength of Amerigo's operating performance and the board's continued commitment to distributing excess cash under the CRS framework.

Release of Q2 2026 financial results on July 29, 2026

Amerigo will release its Q2 2026 financial results at the market open on Wednesday, July 29, 2026.

Investor conference call on July 30, 2026

Amerigo's quarterly investor conference will be held on Thursday, July 30, 2026, at 11 a.m. Pacific Daylight Time/2 p.m. Eastern Daylight Time.

Participants can join by entering their name and phone number in the registration. The conference system will then call the participants and place them on the call instantly.

Alternatively, participants can dial an operator directly and ask to join the call. Dial 1-800-715-9871 (toll-free North America) and state that you wish to participate in the Amerigo Resources Q2 2026 earnings call.

Interactive analyst centre

Amerigo's published financial and operational information is available for download in Excel format through Virtua's interactive analyst centre. You can access the IAC by visiting the Amerigo website and selecting investors and interactive analyst centre.

About Amerigo Resources Ltd. and MVC

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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