Mr. Karim Rayani reports

IBERO ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS

Ibero Mining Corp., further to its news releases dated Feb. 12, 2026, and March 30, 2026, and further to the partial revocation order granted by the British Columbia Securities Commission (BCSC) on Feb. 11, 2026, and variation orders granted by the BCSC on Feb. 11, 2026, March 19, 2026, and March 27, 2026, has closed the non-brokered private placement by the issuance of 16,666,667 units in the capital of the company at a price of three cents per unit for aggregate gross proceeds of $500,000. Each unit consists of one common share of the company and one common share purchase warrant, entitling the holder to purchase one common share at an exercise price of eight cents for a period of 36 months from the closing date.

In connection with the private placement, the company paid eligible third parties dealing at an arm's length, a cash fee of $11,690 and issued an aggregate of 393,000 broker warrants, with each broker warrant exercisable to acquire one common share at an exercise price of eight cents for a period of three years from the date of issuance thereof.

The units sold pursuant to the private placement will be subject to a four-month hold period pursuant to securities laws in Canada.

The company will use the net proceeds of the private placement for general working capital, and to prepare and file all outstanding continuous disclosure documents, and subsequently apply for and obtain a full revocation order. The proceeds of the private placement will namely be applied toward the following: (i) accounting, audit and legal fees associated with the preparation and filing of the relevant continuous disclosure documents; (ii) payment of the finder's fee in connection with the private placement; (iii) exploration and evaluation activities; and (iv) unallocated working capital as set out in the partial revocation order, as detailed in the attached table.

The private placement remains subject to the final approval of the TSX Venture Exchange.

Furthermore, the company wishes to clarify that $8,825 of the gross proceeds from its private placement, which closed on March 4, 2026, as announced in a news release of the company dated April 28, 2025, was paid to non-arm's-length parties of the company. Such amounts were paid on account of fees related to management and rent.

About Ibero Mining Corp.

Ibero Mining is a Canadian public company listed on the TSX Venture Exchange and in the United States on OTCQB. The company holds brownfield gold and copper-gold projects located in Portugal. The company is focused on exploration in highly prospective geological settings in European jurisdictions. Ibero Mining owns a 100-per-cent equity interest in EVX Portugal, a private Portugal-based company that holds the legal exploration rights from the Portugal government on the Borba 2 exploration properties, covering approximately 328 square kilometres in the Alentejo region in southern Portugal. Miguel Vacas is the most advanced prospect within the Borba 2 licence. In addition, Ibero Mining owns an 80-per-cent interest in Indice Crucial, a private Portuguese company that holds exploration rights on several past-producing copper and gold projects, as well as other advanced gold exploration applications in Portugal.

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