Mr. Rob L'Heureux reports

METALERO MINING (MLO) ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

Metalero Mining Corp., in connection with its previously announced non-brokered private placement, has applied to the TSX Venture Exchange for an extension of its price protection, to Dec. 9, 2025, in order to complete subscriptions.

The offering consists of up to 1,428,572 flow-through (FT) units at a price of 21 cents per unit. Each unit consists of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at a price of 26 cents for two years from the date of issuance. The first tranche closed on Oct. 21, 2025, with the sale of 952,381 FT units.

The proceeds will be used to support the fall 2025 exploration work at Benson, including further sampling and ground geophysics.

All FT shares offered in connection with this offering qualify as flow-through shares within the meaning of the Income Tax Act (Canada). For subscribers who are qualifying individuals under the Income Tax Act (British Columbia), these expenditures will also qualify as B.C. flow-through mining expenditures, as defined in Section 4.721(1) of the B.C. tax act.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All the securities issued pursuant to this offering will have a hold period expiring four months and a day after the closing date. The company may pay finders' fees raised in connection with the financing to arm's-length finders in accordance with the policies of the TSX Venture Exchange and as permitted by law.

For additional information with respect to this offering, please refer to Metalero's news releases dated Sept. 25, 2025, Oct. 10, 2025, and Oct. 22, 2025, available for viewing on Metalero's SEDAR+ profile.

About Metalero Mining Corp.

Metalero is a Canadian-based junior exploration company focused on copper and gold projects in North America. Its 166-square-kilometre, road-accessible Benson project serves as Metalero's flagship and is host to five prospects containing gold and copper within porphyry-related mineralized systems.

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