Mr. Keith Henderson reports

LATIN METALS REPORTS PARTNER-FUNDED PHASE II DRILLING UNDERWAY AT CERRO BAYO AND INITIAL DRILLING AT LA FLORA

Latin Metals Inc.'s option partner, Daura Gold Corp., has commenced phase 2 diamond drilling at the Cerro Bayo and La Flora gold-silver projects in Santa Cruz province, Argentina.

The approximately 1,600-metre, 20-hole phase 2 program is planned across four targets. Drilling has commenced at La Flora with approximately 900 metres in 12 holes, representing the first ever drilling at the project. Drilling is then planned to move to Cerro Bayo for follow-up drilling at Elena and Ingrid and first-pass drilling at Gabriela.

Daura is financing exploration under an option agreement pursuant to which it may earn an up-to-80-per-cent interest in the projects.

Highlights include:

• La Flora: approximately 900 metres in 12 holes, representing the first drill test of the previously undrilled La Flora vein system;
• Historical sampling at La Flora returned up to 82.19 grams per tonne gold and 1,239.28 g/t silver; sampling completed in 2026 returned 63.88 g/t gold and 175.34 g/t silver, with visible gold observed;
• Cerro Bayo: follow-up drilling is planned at Elena and Ingrid, with first-pass drilling at Gabriela.

Keith Henderson, president and chief executive officer of Latin Metals, commented: "Phase 2 drilling is an important next step for Cerro Bayo and La Flora. Phase 1 drilling at Cerro Bayo identified gold and silver mineralization across multiple target areas, and the current program is designed to follow up the Elena and Ingrid targets while also testing Gabriela for the first time.

"La Flora represents a significant milestone for the program because the project has never previously been drilled. Latin Metals advanced the target through surface exploration, and Daura is now testing the vein system below surface for the first time. The program is fully funded by our partner under the option agreement, providing Latin Metals with continued exposure to exploration at both projects."

Phase 2 drilling

At La Flora, surface exploration has defined two mineralized veins within an approximately one-kilometre outcropping vein system. The current drill program will test both veins, including the main La Flora vein, which hosts the highest-grade historical samples. Paired drill holes are designed to establish vein geometry and test continuity of mineralization below surface.

Latin Metals previously reported the 2026 La Flora sampling results on June 29, 2026, when the company identified La Flora as a priority target for phase 2 drilling. Surface samples are selective in nature, and are not necessarily representative of the overall grade or mineralization of La Flora vein system.

Following La Flora, drilling is planned to move to Cerro Bayo:

• Elena: Two holes totalling approximately 200 metres are planned to test the extent of near-surface gold mineralization identified during phase 1.
• Ingrid: Four stepout holes totalling approximately 350 metres are planned to test continuity of silver-gold mineralization intersected during phase 1.
• Gabriela: Two holes totalling approximately 150 metres are planned to provide the first drill test of a northwest-trending structure traced for more than 600 metres.

Latin Metals reported the initial phase 1 drill results from Cerro Bayo on May 21, 2026, including multiple zones of gold and silver mineralization and high-grade intervals at Elena and Ingrid.

Cerro Bayo and La Flora are located within the Deseado massif. At Cerro Bayo, exploration has outlined an approximately eight-kilometre-wide structural corridor hosting multiple low-sulphidation epithermal vein targets, while La Flora comprises an approximately one-kilometre vein system that had not previously been drill tested.

Agreement with Daura

Under the terms of the option agreement, Daura may earn an initial 75-per-cent interest in the Cerro Bayo and La Flora projects, with a right to increase its interest to 80 per cent, by completing staged cash payments and exploration commitments.

To earn its initial interest, Daura is required to make aggregate payments of $1.7-million (U.S.) to Latin Metals, assume $400,000 (U.S.) in payments to the underlying vendor, complete 28,000 metres of drilling, and prepare and deliver a National Instrument 43-101 technical report containing a mineral resource estimate.

To date, Daura has paid $300,000 (U.S.) to Latin Metals and $250,000 (U.S.) to the underlying vendor, and completed approximately 1,850 metres of phase 1 drilling, with phase 2 drilling now under way.

Qualified person

Eduardo Leon, QP, is the company's qualified person as defined by NI 43-101, and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the scientific and technical disclosure herein. Mr. Leon is not independent of the company as he is an employee 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. 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.

Coming 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., United States, Oct. 28 to Oct. 31, 2026;
• 121 London -- London, United Kingdom, Nov. 23 and 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.

We seek Safe Harbor.