Mr. Keith Henderson reports

LATIN METALS PROVIDES UPDATE REGARDING THE ESPERANZA COPPER-GOLD PORPHYRY PROJECT, SAN JUAN PROVINCE, ARGENTINA

Latin Metals Inc. has issued a notice of default and termination to Libero Copper & Gold Corp. under a letter option agreement dated Jan. 20, 2023, as amended, between Latin Metals and Libero. Pursuant to the Letter Agreement, Latin Metals had granted to Libero the option (the "Option") to acquire a 70% interest in and to the Esperanza property ("Esperanza" or the "Project"). The Letter Agreement and Option were terminated for Libero's failure to make a payment in the amount of US$350,000, on or before December 6, 2023, on account of a payment that was due to the underlying owner of the Project (the "Vendor").

Latin Metals' has subsequently renegotiated the commercial terms of the underlying exclusive option to acquire a 100% interest in the Project (the "Underlying Option") and has entered into an amending agreement with the Vendor. The amending agreement postpones the December 2023 cash payment until May 5, 2024 and reduces the amount of the payment to US$100,000 (which payment is an irrevocable commitment). The payment schedule to fulfill the terms of the Underlying Option is outlined in Table 1 below.

"In 2024, Latin Metals will move to secure a new partner to take Esperanza through drill testing. We are awaiting receipt of documentation related to Libero's ongoing drill permit application, which we understand to be advanced, and Latin Metals is aiming to complete the drill permitting process prior to securing a new partner. The Project has previously been successfully drill permitted three times between 2005 and 2019." stated Keith Henderson, Latin Metals CEO.

Mr Henderson continued, "There are not many outcropping porphyry systems in the world with limited historical drill testing leaving potential for expansion. Results from Latin Metals' drilling at Esperanza in 2018 included 357m grading 0.57% copper and 0.27 g/t gold from surface, with mineralization open at depth. The Project is in San Juan Province at an elevation of less than 3,500m. It is drill-ready, road accessible, and can be worked year-round. We expect the availability of the Project to attract interest from qualified potential partners."

Esperanza Project

Esperanza is a copper-gold porphyry exploration project where a copper-gold porphyry system has been partially defined by drilling and where a pyrite halo is exposed at surface over an area of 1,400m x 850m.

The Project has confirmed copper endowment within a multi-phase magmatic hydrothermal system. Historical exploration includes diamond drilling, rock and silt sampling, IP, and magnetic geophysics.

Drill hole 18-ESP-025 (previous news release May 8, 2018), completed by Latin Metals, returned the best results to date with 387m grading 0.57% copper and 0.27 g/t gold from surface, including 166m grading 0.84% copper and 0.37 g/t gold from surface (true width unknown) (Figure 1 and 2). Mineralization is open at depth and laterally, with multiple drill-ready, untested targets. The Project is road accessible and located in San Juan Province which is known to be a mining-friendly jurisdiction in Argentina.

Figure 1: Interpreted east-west cross section through Esperanza highlighting priority target areas.

The inset map shows the location of the cross section and drill hole 18-ESP-025 is highlighted

Figure 2: Core photographs from drill hole 18-ESP-025, which intersected 387m grading 0.57% copper and 0.27 g/t gold. Mineralization was intersected at surface and is open at depth. Photographs show intense potassic alteration; quartz-chalcopyrite vein stockwork, K-feldspar and secondary biotite.

Qualified Person

The technical content of this release has been approved for disclosure by Keith J. Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the Company's CEO. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company.

About Latin Metals

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 fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.

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