Mr. Keith Henderson reports

LATIN METALS SIGNS DEFINITIVE OPTION AGREEMENT FOR HUACHI COPPER-GOLD PROJECT, SAN JUAN PROVINCE, ARGENTINA

Latin Metals Inc. has entered into a definitive option agreement with Golden Arrow Resources Corp. to acquire up to a 100-per-cent interest in the Huachi property, a 3,500-hectare copper-gold project located in San Juan province, Argentina (see previous news release, dated March 13, 2024). The Huachi property is immediately contiguous with Latin Metals' Esperanza project.

Definitive agreement terms

Latin Metals has the right to acquire an initial 75-per-cent interest in the Huachi property by completing $1-million (U.S.) in exploration expenditures and $1-million (U.S.) in cash payments to Golden Arrow over a four-year period (Table 1).

Upon earning the 75-per-cent interest, Latin Metals has a top-up right to acquire the remaining 25-per-cent interest (for an aggregate 100-per-cent ownership) by paying $2-million (U.S.) in cash to Golden Arrow within 90 days (Table 1).

Should Latin Metals choose not to exercise the top-up right, the parties will form a joint venture (JV) with Latin Metals holding 75 per cent and Golden Arrow 25 per cent. Each party will finance its pro rata share of future expenditures. A party diluting below 15 per cent will have its interest converted to a 1-per-cent net smelter return (NSR) royalty.

Work commitments and cash payments commence on the first anniversary of approval of the environmental permit (Declaracion de Impacto Ambiental or DIA), approving the start of exploration activities including drilling (the commencement date).

About the Esperanza and Huachi projects

The Esperanza project hosts a partially defined copper-gold porphyry system, with surface expression of a pyrite halo measuring 1,400 metres by 850 metres. Historical drilling by Latin Metals returned 387 metres at 0.57 per cent Cu (copper) and 0.27 g/t (gram per tonne) Au (gold), including 166 m at 0.84 per cent Cu and 0.37 g/t Au from surface. Mineralization remains open in all directions and at depth, with vectors suggesting continuity westward toward the Huachi project.

Latin Metals previously entered into an option agreement regarding the Esperanza and Huachi properties with Atlantic Metals Ltd., a wholly owned subsidiary of Moxico Resources PLC, a private copper mining company with producing and development assets in Zambia and the Kingdom of Saudi Arabia, made as of Oct. 7, 2024 (see previous news release dated Oct. 8, 2024).

About Latin Metals Inc.

Latin Metals is a copper, gold and silver exploration company operating in Peru and Argentina under a prospect generator model, minimizing risk and dilution while maximizing discovery potential. With 18 projects, the company secures option agreements with major mining companies to fund exploration. Current option holders include AngloGold Ashanti (Organullo gold project) and Moxico Resources (Esperanza and Huachi copper-gold projects). This approach provides early stage exposure to high-value mineral assets. Latin Metals is actively seeking new strategic partners to advance its portfolio.

Recent and upcoming conferences

Latin Metals recently presented and met with investors at three investor events:

• 121 Mining Investment Conference -- London (May 12 to May 13, 2025);
• Deutsche Goldmesse -- Frankfurt (May 16 to May 17, 2025);
• THE Mining Event -- Quebec City (June 3 to June 5, 2025).

Upcoming investor conferences include:

• The Rule Symposium on Natural Resource Investing 2025 -- Florida (July 7 to July 11, 2025).

These events provide key opportunities to showcase Latin Metals' progress and introduce its high-quality portfolio to new strategic and institutional audiences.

Qualified person

Eduardo Leon, QP, 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. Leon is not independent of the company, as he is an employee of the company and holds securities of the company.

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