Mr. Hector Gonzalez Ramirez reports

CANDELARIA RECEIVED NOTICE OF DEFAULT

Candelaria Mining Corp. received a notice on Aug. 14, 2024, from Goldgroup Mining Inc. regarding events of default under the medium-term loan facility dated June 24, 2020. This loan facility was originally acquired from Accendo Banco S.A., Institucion de Banca Multiple, which was subsequently transferred to Goldgroup.

The notice states that the company has breached certain clauses, primarily related to repayment and the declaration of information, which allows Goldgroup to request an early termination of the debenture.

The company has a period of 10 business days from the notice of default to comply with the obligations set forth in the debenture.