Mr. Keith Henderson reports

LATIN METALS PROVIDES UPDATE ON STRATEGIC MILESTONES AND INVESTMENT FOR 2023

Latin Metals Inc. has discussed significant achievements under its continuing investor-focused strategy.

Financial highlights and option partner funding

During the 2023 calendar year, Latin Metals has received non-dilutive investments with a total value of $2,080,220, with an additional $792,000 scheduled to be received by the end of the year, for an anticipated total of $2,872,220. The figures outlined here do not include option partner-financed exploration expenditures.

"Our strategic collaborations with mining industry leaders have brought significant investments this year while ensuring minimal equity dilution," commented Keith Henderson, the company's chief executive officer. "Our prospect generator business model offers a unique proposition to investors, giving them the opportunity to share in our successes without the typical equity dilution risks. We're resolutely focused on unlocking the potential of our assets and creating consistent, long-term value for our shareholders."

Mr. Henderson continued: "We're continuously refining our business model to ensure that our investors experience the potential upsides of mineral discoveries while minimizing the common share dilution risks. Through thoughtful execution, our goal is to consistently amplify value and ensure sustainable returns."

Upcoming milestones and catalysts

Latin Metals' option partners have submitted drill permit applications for three projects in Argentina. Following receipt of permits, the initiation of drill programs will mark key milestones as Latin Metals' partners explore the potential of the company's diversified portfolio.

Securing future steps and minimizing dilution

To further the company's objectives and maintain a sound capital base, the company has secured loans totalling $600,000, subject to acceptance by the TSX Venture Exchange. The company places a high premium on minimizing shareholder dilution, and its recent financing choices, including the loans, align with its mission to further its corporate goals while safeguarding investor interests. The loans have a one-year term and bear interest at the rate of 10 per cent per annum compounded annually, payable on the maturity date. The company has agreed to issue six million non-transferable bonus common share purchase warrants to the lenders, each of which warrants will entitle the holder to purchase one common share of the company for a period of one year at an exercise price of 10 cents per share. The funds available to the company under the loans will be used by the company to pay outstanding liabilities and for general corporate and working capital purposes. All securities issued pursuant to the loans will be subject to a hold period of four months and one day in Canada from the date of issuance.

The lenders providing the Loans include five arm's-length parties, two current directors and an executive officer of the company (together, the directors and executive officer are the related parties). The Loans from the related parties constitute a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, of MI 61-101, as, at the time the loan agreements were entered into by the company with the related parties, neither the fair market value of the subject matter of, nor the fair market value of the consideration for the loans by the related parties exceeded 25 per cent of the company's market capitalization.

About Latin Metals Inc.

Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The company operates with a prospect generator model, focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to finance drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with financing the highest-risk drill-based exploration.

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