Mr. Jay Chmelauskas reports

CAMINO RECEIVES APPROVAL FOR WASTE DUMP EXPANSION AND ACHIEVES MILESTONE AT THE PUQUIOS COPPER PROJECT IN CHILE

The Chilean authority, the Environmental Assessment Service, has issued an exempt resolution that approves the modification to the location and volume of a waste dump for Camino Minerals Corp.'s Puquios copper project located in Chile, increasing the project's life span to 15 years.

This project modification approval supports Camino and its strategic partner Nittetsu Mining Co. Ltd.'s efforts to pursue a financing package to build a copper mine at the Puquios project. The exempt resolution confirms that no separate environmental impact assessment (EIA) is required for the approved changes. Camino and Nittetsu are pursuing a project loan facility to build the Puquios project and are currently exploring options with Japanese lenders which, if successful, is expected to be competitive against other alternatives available in the mining sector.

With this milestone, Camino and Nittetsu have agreed to cause Camino-Nittetsu Mining Chile SpA (Camino-Nittetsu JVCO), an entity existing under the laws of Chile in which Camino and Nittetsu each hold a 50-per-cent ownership interest, to commence payment of the contingent payments payable to Santiago Metals Investment Holdings II SLU and Santiago Metals Investment Holdings II-A LLC (together, the vendors) under the share purchase agreement dated Oct. 4, 2024, among Camino, the vendors, Nittetsu and Camino-Nittetsu JVCO. However, the vendors have agreed to waive and defer receipt of 50 per cent of each of the initial three contingent payments (representing Camino's portion of each such contingent payment payable by Camino-Nittetsu JVCO) to March 1, 2026, in consideration for an additional $750,000 to be paid by Camino on or before March 1, 2026. In accordance with the terms of the share purchase agreement, the deferred contingent payments may be made in cash or common shares of Camino, at the election of the vendors upon payment in March, 2026.

The vendors are private companies owned by a fund advised by Denham Capital Management LP. For details of the share purchase agreement, please refer to the company's public filings, including the company's news release dated Oct. 7, 2024.

Justin Machin, managing director at Denham Capital, and director at Camino, commented: "The Puquios project is progressing positively towards a final investment decision with the recent expansion authorization. We are pleased to work with Camino as the company develops a financial package to build the Puquios copper mine."

Jay Chmelauskas, chief executive officer of Camino, added: "Puquios is the right-sized copper mine, and with current upward trending copper prices, it's the right time for Camino to build in Chile with our partners, Denham Capital and Nittetsu Mining. This partnership also covers our Los Chapitos copper project in Peru where exploration drilling will commence shortly, providing two value drivers for investors, copper production in Chile and copper exploration in Peru."

Corporate update

Camino granted stock options to certain directors, officers, consultants and employees to purchase up to 2.25 million common shares on or before Oct. 7, 2030, at an exercise price of 30 cents per share, in accordance with the company's amended and restated equity incentive plan. The stock options will vest over an 18-month period, with 25 per cent vesting immediately upon grant and an additional 25 per cent vesting every six months thereafter.

In addition, the company announces that it intends to issue an aggregate of 443,250 common shares to Resource Play, an arm's-length third party, at a deemed price of 30 cents per share as a finder's fee in connection with the earn-in agreement dated June 13, 2023, entered into by, inter alios, Camino and Nittetsu Mining for its Los Chapitos copper project. The finder shares are proposed to be issued in relation to $3.0-million of funds contributed by Nittetsu under the earn-in agreement as the fourth and fifth option to earn-in payments made by Nittetsu thereunder. The intention to pay the finder's fee was noted in Camino's news release dated Feb. 1, 2023, and the finder shares are being issued in accordance with the terms of a finder's fee agreement entered into by Camino and Resource Play dated Aug. 5, 2020, as subsequently extended. The issuance of the finder shares remains subject to the acceptance of the TSX Venture Exchange. The finder shares to be issued will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities legislation.

About Camino Minerals Corp.

Camino is a discovery and development stage copper exploration company. On April 17, 2025, Camino announced the completion of its acquisition (announced on Oct. 7, 2024) to purchase the construction-ready Puquios copper mine in Chile. Camino is focused on developing copper producing assets such as Puquios, and advancing its IOCG (iron-oxide-copper-gold) Los Chapitos copper project located in Peru through to resource delineation and development, and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its National Instrument 43-101 resources. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy.

We seek Safe Harbor.