Vancouver, British Columbia--(Newsfile Corp. - September 18, 2026) - Mercado Minerals Ltd. (CSE: MERC) (OTCQB: MRMNF) ("Mercado" or the "Company") is pleased to announce the signing of a Letter of Intent ("LOI") to purchase the La Franca concession ("La Franca") surrounded by Mercado's Campanillas concession on the Zamora project in Sinaloa, Mexico. Once a Definitive Agreement is signed, it is structured as a three year option agreement to acquire 100% subject to a 2% Net Smelter Return Royalty ("NSR" or "Royalty"). Consolidation of the Campanillas area unlocks 750 metres of mineralized veining that has never been drill tested. High grade silver and gold surface chip sampling results from La Franca returned multiple high-grade intervals, including 1.00 metre of 1.53 kg/t silver and 1.39 g/t gold (1501 g/t AgEq¹) and 0.80 metre of 534 g/t silver and 3.58 g/t gold (757 g/t AgEq).

Highlights:

• Consolidation of the La Franca and Campanillas concessions unlocks 750 metres of combined vein strike extent of high-grade silver and gold mineralization that has never been drill tested

• 2026 chip Sampling from the La Franca segment of the vein returned:

  • 1.00 metre of 1530 g/t silver and 1.39 g/t gold (1501 g/t AgEq)

  • 0.80 metre of 534 g/t silver and 3.58 g/t gold (757 g/t AgEq)

  • 3.00 metres (true width) of 229 g/t silver, and 1.12 g/t gold (295 g/t AgEq)

• Historic Samples from the La Franca segment of the vein returned:

  • 1,720 g/t silver and 12.96 g/t gold (2,530 AgEq) in a stope wallrock grab sample

  • 460 g/t silver and 2.90 g/t gold (634 AgEq) in a 42 kg blended underground grab sample

• The Company intends to initiate the process to apply for permits to drill test Campanillas - La Franca immediately

CEO Comment

Daniel Rodriguez CEO & Director commented:

"The 2026 results at La Franca, together with the historical data, confirm why we want to acquire the concession. Consolidating La Franca with the Campanillas segment of the vein gives us 750 metres of combined vein strike extent of high-grade silver and gold mineralization at Zamora that has never been drill tested, including multiple results exceeding one kilogram per tonne in silver. Our team's field mapping and sampling have built the confidence to move forward with permitting and advancing Mercado's inaugural diamond drill program to test this vein system and unlock its full potential."

Table 1. La Franca Vein Surface Chip Sampling Results¹

¹ Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, and 75% zinc. The silver - equivalent formula is: ((24 * silver (g/t)*0.91 / 31.1035) + (1900 * gold (g/t)*0.94 / 31.1035) + (0.90 * 2204 * lead %*0.7/100) + (1.10 * 2204 * zinc %*0.75/100))*(31.1035 / 24). Metal price assumptions are US$24/oz silver, US$1900/oz gold, US$0.90/lb lead and US$1.10/lb zinc. Numbers may not match due to rounding.

Figure 1 - Zamora Project plan map of surface mapping and sampling at the Campanillas - La Franca Vein target.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12124/314960_ed3812b0a48ac9eb_002full.jpg

The technical information and data for the Zamora property appears to be of a good standard. However, the QP has not conducted sufficient work to independently validate the assay rock sample results from Zamora. Therefore, the Company is treating the Zamora results as historical in nature and are not to be relied on. The QP will independently verify results of the historic work during a site visit later this year.

Letter Of Intent Terms

Under the terms of the LOI, and contemplated for the Definitive agreement, Mercado can earn a 100% interest in La Franca through staged option payments totalling US$600,000 over three years: US$100,000 payable upon signing, followed by three payments of US$33,333.33 each at four, eight, and twelve months after signing (the twelve-month payment coinciding with the first anniversary), US$200,000 on the second anniversary, and US$200,000 on the third anniversary. The concession remains subject to a 2% Net Smelter Return Royalty ("NSR"), which Mercado has the right to buy back in whole for US$500,000 to acquire the full 2% Royalty.

Quality Assurance/Quality Control and Chain of Custody

All 2026 rock samples are chip samples. Chip samples are laid out with visual sample interval marks, across the perceived true width of veins and structures, before being systematically chipped into sample bags. Once bagged, samples are grouped into rice bags and secured by a locking security tag with a unique security tag identification number. Sample batches are transported from the exploration site in Zamora to a secured courier transport service vehicle provided by ALS Laboratories. The samples are delivered by ALS secured courier to their laboratory in Hermosillo for analysis.

Samples are crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. Sample splits are then pulverized to over 85 per cent passing below 75 microns. Gold determinations are completed by fire assay with an atomic absorption (AA) finish on a 30 g subsample of the prepared pulp (Au-AA23). Any sample returning over 10 g/t gold is re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (Au-GRA21). In addition, a 34-element analysis is performed on a 0.25 g subsample of the prepared pulps by a four acid digestion followed by an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish (ME-ICP61). Samples that return overlimit values for silver, lead or zinc are finished by Ore Grade analysis (Ag-OG62, Pb-OG62 and/or Zn-OG62).

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, P.Geo., of Archer, Cathro & Associates (1981) Limited. Mr. Willms is a Qualified Person for the purposes of National Instrument 43-101.

About Mercado Minerals Ltd.

Mercado Minerals Ltd. (CSE: MERC) (OTCQB: MRMNF) 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.

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate," "plan," "continue," "expect," "estimate," "objective," "may," "will," "project," "should," "predict," "potential" and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company's exploration plans and the intended use of proceeds from the Offering. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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