Mr. Keith Henderson reports

LATIN METALS EXPANDS AUQUIS PROJECT LAND POSITION

Latin Metals Inc. has acquired by staking an additional 400-hectare claim, contiguous with its 100-per-cent-owned Auquis project. The extension is located south of the Rose copper porphyry target area, which has potential to host an extension of the Rose porphyry system. Potential to the south is supported by anomalous soil geochemistry samples taken by the company prior to staking the property. Within the Rose porphyry zone, early-stage soil samples have correlated well with rock-chip sampling anomalies over a three-kilometre-by-1.5-kilometre area.

Future exploration at Auquis is planned to include additional sampling at the Rose zone as well as additional work at the Blanco skarn target, where skarn mineralization includes anomalous rock samples up 9.3 per cent zinc, 6.1 per cent lead, 2.8 per cent copper and 176 grams per tonne silver at surface.

The company also announces that it has entered into a loan agreement with a trust controlled by a director of the company (the lender), pursuant to which the lender has agreed to provide an unsecured and non-interest-bearing loan to the company in the aggregate principal amount of up to $100,000 (U.S.) (the July, 2024, loan), repayable by the company on demand. The company intends to use the proceeds of the July, 2024, loan to finance its resource properties option payment requirements and to meet its short-term corporate and working capital needs. The company also announces that, on April 28, 2024, it received an unsecured and non-interest-bearing loan in the principal amount of $100,000 (U.S.) from the lender. The April, 2024, loan was repaid in May, 2024. Neither of the loans are convertible into or repayable in securities of the company, and no bonus is payable to the lender in connection with the loans.

As the lender is a trust controlled by a director of the company, each of the loans constitutes 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 exemptions from the formal valuation and minority shareholder approval requirements, respectively, of MI 61-101, as, at the time the loan agreements for the respective loans were entered into by the company with the lender, neither the fair market value of the subject matter of nor the fair market value of either of the loans 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.

Quality assurance/quality control

The work program at Auquis was designed and supervised by Eduardo Leon, the company's exploration manager. He is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples, which are then security sealed and shipped to the ALS laboratory in Lima. Samples used for the results described herein are prepared and analyzed by multielement analysis using an inductively coupled mass spectrometer in compliance with industry standards.

Soil samples were extracted from prospecting pits measuring 40 centimetres by 40 centimetres, where the uppermost A horizon was removed to collect the underlying B horizon. A total of 1.5 kilograms to 2.0 kilograms of B horizon material was collected at each sampling site before the sampling pit was reclaimed. A total of 10 samples were added to the previous grid of 200 metres north-south and 400 metres east-west orientation.

Qualified person

Keith J. Henderson, PGeo, is the company's qualified person as defined by National Instrument 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Henderson is not independent of the company as he is an employee of the company and holds securities of the company.

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