Mr. Darren Hazelwood reports

MANTARO PRECIOUS METALS CORP. COMMENCES FOLLOW-UP TAILINGS SAMPLING AT GOLDEN HILL

Mantaro Precious Metals Corp. has commenced follow-up tailings sampling at the Golden Hill property. This program aims to quantify the gold content within the tailings, with the ultimate goal of evaluating the potential for reprocessing through heap leaching and increasing the resource base at Golden Hill.

Highlights:

• Follow-up sampling survey to provide base for resource estimation of approximately 600,000 tons of historical tailings;
• Builds on preliminary sampling which returned average grades of 1.33 grams per tonne gold with 96 per cent of gold recoverable through cyanide leaching.

Mantaro has begun a comprehensive follow-up tailings sampling campaign to categorically determine the gold content within the estimated 600,000 tons of historical tailings at Golden Hill. This study will build upon the previous preliminary tailings sampling program completed in 2021, which consisted of 16 samples and yielded an average gold grade of 1.33 g/t Au with 96 per cent of the gold recoverable through cyanide leaching.

The new study aims to provide a more accurate representation of the quantity of gold contained within the tailings, further assess reprocessing options and potentially expand on the company's maiden resource. The results obtained from this tailings sampling campaign will form a quantitative data set from which National Instrument 43-101-compliant resource estimates can be calculated -- which will in turn feed into a preliminary economic study on Golden Hill.

To ensure the accuracy and reliability of the sampling program, Mantaro has enlisted experienced geologists who will oversee the project and ensure NI 43-101-compliant best practice protocol and quality assurance and quality control (QAQC) procedures are followed. The geologists will systematically collect and analyze samples from predetermined random grid-spaced locations at various depths within the tailings. This approach guarantees a representative assessment of the gold content within the tailings.

Darren Hazelwood, chief executive officer of the company, stated: "Building upon the promising results of our preliminary tailings sampling program completed in 2021, we are eager to obtain a more definitive understanding of the gold content within the estimated 600,000 tons of historical tailings. The results of this tailings sampling campaign will serve as a crucial foundation for future decision making regarding reprocessing strategies of tailing and potential resource expansion opportunities within Golden Hill."

Qualified person

Dr. Christopher Wilson, PhD, FAusIMM (CP), FSEG, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Mantaro Precious Metals Corp.

Mantaro is a B.C. company that holds a diversified portfolio of gold and silver focused mineral properties in Bolivia and Peru. The company holds an option to acquire an up-to-80-per-cent interest in the advanced Golden Hill orogenic gold property, located in the underexplored Precambrian Shield, Bolivia.

In Peru, the company has a 100-per-cent interest in the high-grade Santas Gloria silver property, as well as a 100-per-cent interest in each of La Purisima, Cerro Luque and Huaranay properties.

We seek Safe Harbor.