Mr. Keith Henderson reports

LATIN METALS RECEIVES C$1.875 MILLION FROM WARRANT EXERCISES

Holders of Latin Metals Inc.'s outstanding common share purchase warrants have exercised 100 per cent of 12.5 million warrants at an exercise price of 15 cents per common share, providing $1,875,000 in proceeds to the company.

The warrant exercises provide Latin Metals with a meaningful addition to its treasury without undertaking a new equity financing and substantially reduces the company's near-term warrant overhang. The additional capital further strengthens Latin Metals' financial position at a time when significant exploration expenditures across its portfolio are being funded at the project level by strategic partners under the company's prospect generator model.

Keith Henderson, president and chief executive officer of Latin Metals, commented:

"The exercise of 100 per cent of this warrant tranche represents a meaningful addition to Latin Metals' treasury and demonstrates continued shareholder support for the company. Importantly, this capital is being added at a time when significant exploration expenditures across our portfolio continue to be funded by our partners.

"Over the past two years, Latin Metals has significantly expanded the scale of partner-funded exploration and investment across its portfolio, increasing estimated total investment under option agreements from approximately $16-million to $179-million."

Following the exercise of the September, 2026, warrants, the company will have 151,565,650 common shares issued and outstanding and 12,095,454 warrants remaining outstanding at an exercise price of 20 cents.

Latin Metals' prospect generator strategy is designed to advance a diversified portfolio of copper, gold and silver exploration projects while securing well-financed partners to finance significant exploration expenditures at the project level. This model allows Latin Metals to maintain exposure to multiple potential discoveries while preserving capital and limiting shareholder-financed exploration expenditures.

Partner investment growth

Over the past 24 months, Latin Metals has substantially increased the amount of third party capital and exploration commitments associated with its project portfolio. Between September, 2024, and September, 2026, total scheduled cash payments under option agreements increased from approximately $2.5-million to $21-million, while aggregate drilling metres under option agreements increased from 15,000 metres to 195,000 metres. Total potential investment under option agreements, including scheduled cash payments and estimated drill expenditures, increased from approximately $16-million to $179-million.

Latin Metals' market capitalization has grown by approximately 400 per cent over 24 months to September, 2026, from $7-million in September, 2024, to $35-million in September, 2026.

At the same time, Latin Metals' expenditures have remained relatively stable on an annual basis.

The attached table is a comparison of partner investment in September, 2024, versus September, 2026, illustrating significant growth in potential partner investment and estimated percentage increases in various investment criteria.

This growth reflects the continued execution of Latin Metals' prospect generator strategy, whereby the company identifies and advances exploration opportunities before securing well-financed partners to assume a substantial portion of the high-cost exploration risk. The model is intended to expand shareholder exposure to multiple exploration programs while limiting the amount of Latin Metals' own capital required to finance drilling and other high-cost exploration activities.

Regarding the attached table, the figures presented for scheduled cash payments, drilling commitments and estimated investment under option agreements are based on the terms of the company's existing option agreements as at September, 2026. To the extent that those figures relate to future periods, they constitute forward-looking information and assume, among other things, that the applicable option agreements remain in effect, the applicable optionholders continue to advance those agreements through the relevant stages, scheduled payments are made and contractual drilling commitments are completed.

Actual results may differ materially. In particular, an optionholder may elect not to proceed to a subsequent stage; an option agreement may be terminated, amended, surrendered or otherwise not completed; the timing or amount of scheduled payments may change; committed drilling may not be completed; actual drilling costs may differ materially from assumed costs; and the timing or scope of exploration programs may change. Accordingly, some or all of the cash payments, drilling commitments and estimated exploration investment illustrated in the attached table may not be received, completed or incurred, and the figures should not be interpreted as a forecast of amounts the company expects to receive or expenditures that will necessarily be incurred.

Estimated investment attributable to drilling is based on assumed all-in drilling costs of approximately $500 (U.S.) to $700 (U.S.) per metre, depending on the project, based on costs observed at comparable projects, and actual costs may differ materially. Incoming cash payments include amounts paid or potentially payable directly to Latin Metals and, in certain cases, amounts paid or potentially payable under underlying option agreements. Total potential investment excludes discretionary top-up, buyout and royalty buyback payments. Latin Metals' expenditures may vary depending on the number, timing, cost and scope of future acquisitions and exploration programs. Market capitalization figures are approximate point-in-time estimates and are not based on VWAP (volume weighted average price).

Correction to June 29, 2026, news release

The company wishes to correct its news release dated June 29, 2026, regarding the grant of 400,000 stock options. The news release incorrectly stated that the options were granted to certain directors, officers and consultants of the company. The options were granted solely to consultants of the company, and no options were granted to any directors or officers. All other terms of the option grant remain unchanged.

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. The company secures option agreements with partners to finance exploration. This approach provides early-stage exposure to high-value mineral assets. Latin Metals is actively seeking new strategic partners to advance its portfolio.

Upcoming events

Latin Metals is pleased to announce its participation in several industry conferences, providing a platform to connect with investors, industry leaders and potential partners:

• New Orleans Investment Conference -- New Orleans, La., USA, Oct. 28, 2026, to Oct. 31, 2026;
• 121 London -- London, U.K., Nov. 3, 2026, to Nov. 24, 2026.

These events offer valuable opportunities to share Latin Metals' exploration progress in Argentina and Peru, highlight the advantages of its low-dilution prospect generator model, and explore strategic investment and partnership opportunities across its gold-, copper- and silver-focused portfolio.

Qualified person (QP)

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.

We seek Safe Harbor.