Mr. Keith Henderson reports

LATIN METALS PROVIDES UPDATE ON ESPERANZA PROJECT, SAN JUAN, ARGENTINA

Latin Metals Inc. has provided an update on the Esperanza and Huachi (together the projects) copper-gold projects in San Juan province, Argentina. Latin Metals previously signed an option agreement with Atlantic Metals Ltd., a wholly owned subsidiary of Moxico Resources PLC (together with Atlantic Metals, Moxico) (previous news release dated Oct. 8, 2024).

Project update

Moxico has made substantial progress at the Esperanza project to date. Geological work has expanded the known footprint of mineralization and set the stage for future drill testing. Geological and alteration mapping, systematic rock sampling, and the relogging of historic drill core have already identified new copper mineralization north and west of previously drilled areas. International porphyry expert Dr. Richard Sillitoe has also completed a review of project data, confirmed the presence of multiphase mineralized intrusions and highlighted the potential for extensions of mineralization beyond the zones defined to date.

In parallel, Moxico is advancing with programmed environmental and social works. Hydrological and hydrogeological studies are under way in partnership with leading Argentine research institutes, supported by newly installed weather stations across the Huerta de Huachi River basin. On the social side, Moxico has retained San Juan-based ERS Consultora to complete a social baseline study in the department of Jachal and has hired local staff to assist with logistics and environmental monitoring.

This combination of technical, environmental and social initiatives provides a strong foundation for future drilling and positions Esperanza as a high-quality copper-gold project with district-scale potential.

Esperanza underlying option

Latin Metals has amended the underlying option agreement with the underlying vendor. Under the terms of the amendment, the vendor's right to terminate the option due to certain project delays has been removed. In consideration of this concession, the payment schedule to acquire a 100-per-cent interest in the Esperanza property has been amended (Table 1) as shown in the attached table.

Amended Moxico option

Moxico has agreed to align its earn-in obligations with the revised terms of the amended underlying option. Moxico has reimbursed Latin Metals for the $250,000 (U.S.) milestone payment made in July, 2025, while also extending its 2025 drilling commitment into 2026. The revised drill commitment now calls for 15,000 metres of drilling in 2026. To exercise the Moxico option, cash payments of up to $2.67-million (U.S.) must be made to Latin Metals. The amended Moxico option terms are as shown in the attached table.

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 finance exploration. This approach provides early stage exposure to high-value mineral assets.

We seek Safe Harbor.