Mr. Jacob Garland reports

MANTARO PRECIOUS METALS CORP. COMPLETES SHARE CONSOLIDATION

Further to Mantaro Precious Metals Corp.'s news release dated Nov. 14, 2023, the consolidation of its issued and outstanding common shares at a ratio of one postconsolidation share to 10 preconsolidation shares will take effect on opening of business on Dec. 20, 2023. The company's new Cusip number is 56450P200 and its new ISIN number is CA56450P2008.

Following the consolidation, the company's total issued and outstanding common shares will be reduced from 71,793,733 common shares to 7,179,373 common shares.

A letter of transmittal will be sent by mail to registered shareholders advising that the consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates and/or DRS statements evidencing their preconsolidation common shares for new share certificates and/or new DRS statements representing the number of postconsolidation common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the consolidation. Until surrendered, each certificate representing the preconsolidation common shares will be deemed for all purpose to represent the number of common shares to which the holder is entitled as a result of the consolidation.

Santas Gloria silver property update

The company is pleased that it has extended the deadline to complete its exploration commitment on the Santas Gloria silver property from Dec. 31, 2023, and Nov. 31, 2024. In consideration of the extension, the company paid the property vendors a one-time fee of $30,000 (U.S.).

About Mantaro Precious Metals Corp.

Mantaro Precious Metals is a British Columbia company that holds a 100-per-cent interest in the high-grade Santas Gloria silver property, located in Peru.

We seek Safe Harbor.