Mr. Daniel Rodriguez reports

MERCADO MINERALS ANNOUNCES INITIATION OF INAUGURAL FIELD EXPLORATION PROGRAM AT COPALITO

Mercado Minerals Ltd. has officially commenced its first field exploration program. The company's technical team has mobilized to the Copalito project in Sinaloa, Mexico, where they will execute the first phase of exploration activities to advance Mercado's flagship asset.

Program highlights

• Commencement of a detailed mapping and prospecting program focused across 40 per cent of the project area, which remains unexplored;
• Resampling of silver, gold, lead and zinc vein mineralization in select historical drill core from the six principal known veins. Previous historical results from these veins include:
  • 347 grams per tonne silver, 0.22 g/t gold, 0.17 per cent lead and 0.38 per cent zinc over 13.10 metres from 54.00 m in BDH-20-004 at the 5 Senores vein;
  • 125 g/t silver, 2.00 g/t gold, 0.34 per cent lead and 0.58 per cent zinc over 23.00 m from 78.00 m in BDH-21-055 at the El Agua vein.
• Relogging of targeted historic drill core to refine geological understanding;
• Advancing logistics for the upcoming first-phase diamond drill program;
• Further refinement of drill targets at Copalito.

CEO comment

Daniel Rodriguez, chief executive officer and director, commented: "Today marks the start of the exploration work that will lead us to drilling at Copalito. We remain on track to begin our first-phase, 3,000-metre drill program in Q1, focused on our highest-priority targets. I look forward to providing regular updates to the market and our shareholders as we advance. Our goal is to demonstrate the potential of the known veins at depth and along strike, while also testing new areas that have yet to be explored at Copalito. I will be joining the technical team for the initial stage in the field to be part of the process firsthand."

Surface sampling program

Mercado's exploration team will conduct detailed mapping, sampling and prospecting across approximately 40 per cent of Copalito, which has never undergone systematic grassroots exploration. Integration of geophysical data with data from this program will help further define high-potential exploration targets. All samples collected will be sent for laboratory analysis to support the development of additional drill targets.

Resampling and relogging selected intervals of historical drill core will be relogged and resampled in order to verify and align previously collected data with Mercado's internal standards, ensuring consistency and accuracy as the project advances toward its inaugural drill program.

Logistics and target refinement

The company is progressing with field preparations, including securing drill pad access, water sources, power, drill and equipment contractors, and other necessary operational infrastructure for the planned phase 1 drill campaign. In parallel, the technical team will continue to review and refine drill targets based on continuing field evaluations.

Technical information and data for the Copalito property appears to be of a good standard; However, the qualified person has not conducted sufficient work to independently validate the drill core results and other pertinent property data. As a result, the company is treating drill results from the Copalito project as historical in nature and are not to be relied on. The qualified person will independently verify results of the historic work during a site visit that coincides with the 2026 field program.

Qualified person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and was reviewed and approved by Kelson Willms, PGeo, of Archer, Cathro & Associates (1981) Ltd. Mr. Willms is a qualified person for the purposes of National Instrument 43-101

About Mercado Minerals Ltd.

Mercado Minerals is a silver-focused exploration company targeting the next world-class discovery in Mexico's emerging Western silver belt, part of the prolific Sierra Madre occidental mining district. With a proven team boasting extensive experience in Mexican exploration, Mercado is actively advancing multiple projects across more than 3,000 hectares. The company is committed to creating shareholder value through disciplined exploration, strategic growth and discovery-driven results.

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