Mr. Keith Henderson reports

LATIN METALS SECURES KEY PERMIT TO ADVANCE EXPLORATION AT ESPERANZA COPPER-GOLD PROJECT, SAN JUAN PROVINCE, ARGENTINA

Latin Metals Inc. has received a key permit to begin exploration activities at the Esperanza project.

The company recently announced that it has entered into a binding letter agreement with Moxico Resources PLC under the terms of which Moxico has been granted an option to acquire up to 100 per cent of the Esperanza and Huachi projects (previous news release Oct. 8, 2024). With the exploration permit secured, Moxico will commence mapping, sampling and geophysical surveys. Moxico is required to complete a minimum of 5,000 metres of drilling in the first year of the option, and the results of this work will help in defining those drill targets.

Keith Henderson, president and chief executive officer of Latin Metals, stated: "Securing this exploration permit is a pivotal moment for the Esperanza project, reaffirming the strong support from local authorities for advancing exploration in the region. With this permit in hand, the project is now positioned to unlock the significant copper-gold potential that Esperanza offers. Our team's commitment to responsible exploration, including environmental stewardship and meaningful stakeholder engagement, has been critical in reaching this milestone. We're excited to move forward and deliver value to our shareholders as we define drill targets and progress the project."

Alan Davies, chief executive officer of Moxico, added: "Receipt of this permit is great news for Moxico as we commence our first phase of exploration work. We look forward to working with the suppliers and service providers in San Juan, and to building long-term working relationships in the province."

About Esperanza and Huachi

The Esperanza project is a copper-gold porphyry exploration property, where initial drilling has partially defined a large copper-gold porphyry system. A pyrite halo is exposed at surface over an area of 1,400 m by 850 m, indicating the system's size and potential. Previous drill results include 387 metres grading 0.57 per cent copper and 0.27 gram per tonne gold from surface (drill hole 18-ESP-025, see news release May 8, 2018), with 166 metres grading 0.84 per cent copper and 0.37 g/t gold from surface. The mineralization remains open in all directions, with an interpreted vector to the west toward the Huachi property.

Latin Metals holds an option to acquire a 100-per-cent interest in both the Esperanza and Huachi properties.

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.

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.

We seek Safe Harbor.