Mr. Keith Henderson reports

LATIN METALS IDENTIFIES GEOPHYSICAL ANOMALIES AT CERRO BAYO, SANTA CRUZ, ARGENTINA

Latin Metals Inc. has identified significant geophysical anomalies at its Cerro Bayo project located in the Deseado massif, Santa Cruz province, Argentina. The company has completed a purchase of historical exploration data collected by a previous operator at the project, including a 130-line-kilometre gradient array induced polarization geophysical survey.

The survey highlights pronounced chargeability and resistivity anomalies, spatially associated with historical drill targets identified by Barrick, and there is a strong correlation of chargeability anomalies with previously mapped mineralized structures. Importantly, the anomalous geophysical trends are open to the northwest.

Geophysical survey interpretation

Gradient array IP is a well-established geophysical technique widely used in the exploration of low-sulphidation epithermal vein deposits, such as those found in the Deseado massif. In these environments, chargeability anomalies typically indicate the presence of sulphide mineralization, while high resistivity values are often associated with quartz-rich and chalcedonic vein systems. Coincident high chargeability and high resistivity are the classic geophysical signature that geophysicists want to see in the Deseado massif. The company sees this geophysical signature at Cerro Bayo where outcropping structures and veins correlate well with high-chargeability and high-resistivity zones. The trend seen in the outcrops and the geophysical data is N30W, which is observed not only at Cerro Bayo, but also at other exploration projects and producing mines in the Deseado massif.

Notably, the Eugenia and Gabriela target areas -- historically outlined by Barrick --align with the highest-intensity geophysical anomalies. Additionally, while the historical survey covers only a portion of the Cerro Bayo property, all major anomalies remain open to the northwest, suggesting further potential. New exploration targets, including the Julia/Elena and Lara zones, have also emerged, revealing unrecognized strike extensions that warrant additional follow-up.

Cerro Bayo and regional significance

Cerro Bayo is situated within the highly prospective Deseado massif, a prolific mining region known for its world-class gold and silver deposits. The area has a strong history of mining activity, and hosts several producing and past-producing mines, underscoring its significant exploration potential.

The mineralization at Cerro Bayo is consistent with epithermal gold-silver systems, which have yielded high-grade deposits across the region. Latin Metals' exploration efforts at the project benefit from an extensive historical data set compiled by previous operators, including Barrick Gold, providing a strong foundation for continuing and future work.

Argentina's mining sector continues to attract growing foreign investment, driven by its rich mineral endowment and an evolving regulatory framework. The Santa Cruz province, in particular, plays a key role in the country's gold and silver production. Latin Metals' Cerro Bayo and La Flora projects align with this broader industry trend, reflecting the company's commitment to systematic exploration and value generation through strategic partnerships.

Latin Metals' recent exploration work at Cerro Bayo builds on Barrick's historical data. In late 2024, the company expanded mapping efforts at Cerro Bayo and initiated exploration at La Flora for the first time. This work has standardized lithological interpretations across both areas, reinforcing the potential for further discoveries.

Latin Metals attends PDAC 2025 -- booth No. 2329

Latin Metals is currently attending PDAC 2025 in Toronto from March 2 to March 5, 2025, engaging with investors and industry leaders to discuss its prospect generator model and exploration projects in Argentina and Peru. Visit the company at booth No. 2329 or schedule a meeting at info@latin-metals.com.

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 geophysical survey was conducted over a total of 133 linear kilometres following a southwestern to northeastern orientation (N50E). Within the project, the surveyed lines range in length from 380 metres to 7.9 kilometres, with a separation of 250 metres between each line. The geophysical survey was executed utilizing an induced polarization transmitter IRI VIP 3000 (3.0 kilowatts), with electrodes deployed in direct contact with the ground through stainless steel rods. The survey employed a gradient array configuration, featuring a 25-metre-spaced dipole, with bipole lengths set at 2,000 and 3,000 metres per designated zone.

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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