Mr. Hector Gonzalez Ramirez reports

CANDELARIA ANNOUNCES CHANGE OF AUDITOR

Candelaria Mining Corp. has changed the company's auditor. At the request of the company, Davidson & Company LLP has been dismissed as auditor of the company, effective Jan. 28, 2026. The audit committee and board of directors of the company have appointed Saturna Group Chartered Professional Accountants LLP as the successor auditor, effective Jan. 28, 2026, until the close of the next annual general meeting of the company.

The company has sent a notice of change of auditor to the former auditor and to the successor auditor, and has received a letter from each, addressed to the securities commissions in each of Alberta, Ontario and British Columbia, stating that they agree with the information contained in the notice. The notice together with the letter from the former auditor and the letter from the successor auditor has been reviewed and approved by the company's audit committee and its board of directors, and is available on SEDAR+.

There were no disagreements or unresolved issues between the company and the former auditor on any matter of audit scope or procedures, accounting principles or policies, or financial statement disclosure. It is the company's opinion that there have been no reportable events (as defined in National Instrument 51-102 (Continuous Disclosure Obligations) between the company and the former auditor. The former auditor did not provide a modified opinion in its auditor's report for the financial statements of the company for the fiscal years ended April 30, 2025, and April 30, 2024.