Mr. Keith Henderson reports

ANGLOGOLD ASHANTI TO COMMENCE DRILLING AT ORGANULLO GOLD PROJECT, SALTA PROVINCE, ARGENTINA

AngloGold Argentina Exploraciones SA, a wholly owned subsidiary of AngloGold Ashanti PLC, plans to begin drilling at the Organullo gold project in Salta province, Argentina. AngloGold Ashanti has an option to earn up to an 80-per-cent interest in Latin Metals Inc.'s Organullo, Ana Maria and Trigal Gold projects. This phase I program will consist of 10 drill holes and approximately 6,000 metres. The company expects first drill results to be available in Q1 2026.

Keith Henderson, president and chief executive officer of Latin Metals, commented: "Organullo is one of the most compelling untested gold exploration targets in South America and a high-priority greenfields exploration project for AngloGold Ashanti. We are pleased to see AngloGold Ashanti moving the project into the drilling phase, which represents a significant milestone for the project and for Latin Metals shareholders. This drill program will provide the first real test of this potentially large-scale gold system."

AngloGold Ashanti planned drilling

AngloGold Ashanti is targeting a multimillion-ounce, Tier 1 discovery using Salares Norte as a technical analogy (Gold Fields Ltd., proven and probable reserve (2024); 3.4 million ounces grading 5.36 grams per tonne gold). Three previously unexplored, advanced argillic alteration zones have been identified for initial testing, along a six-kilometre-long strike length. District-scale geophysical anomalies, structural interpretation, surface geochemical data and hyperspectral data further support the potential for discovery of gold mineralization.

Readers are cautioned that the Salares Norte gold deposit analogy mentioned above is located in Chile; that Latin Metals has no interest on or right to acquire any interest in the deposit; and that mineral deposits on similar properties, and any production therefrom or economics thereto, are not in any way indicative of mineral deposits at Organullo or the potential production from, or cost or economics of, any future mining of any of Latin Metals' mineral properties.

Malena VII acquisition

The company also reports that, following an application submitted to the mining authorities in Salta province, the company has secured rights to the Malena VII mining property. Malena VII is contiguous with the recently acquired Malena VI property (see previous news release dated July 28, 2025) and the existing Organullo gold project and will form part of the properties included in the existing option with AngloGold Ashanti.

Qualified person

Eduardo Leon, qualified person, 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 officer of the company and holds securities of the company.

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.

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