Mr. Allen Sabet reports

VICUÑA: 3D GEOPHYSICAL MODEL OUTLINES LARGE SCALE ANOMALIES AT THE LOS MOGOTES TARGET CLUSTER ADJACENT TO FILO DEL SOL

Integrated processing of Mogotes Metals Inc.'s 2025 and 2023 IP/MT geophysical data has delivered a compelling 3-D geophysical model that outlines a series of compelling large-scale anomalies within the company's Filo Sur project. The geophysical anomalies are located directly on trend to the south of the large BHP/Lundin Filo Del Sol (FDS) resource1 and represent high-priority Mogotes drill targets for porphyry copper (PCD) and high-sulphidation epithermal (HSE) gold-silver mineralization.

Readers are cautioned that information regarding the geology, mineralization, mineral resources and production history on adjacent or similar properties is not necessarily indicative of the mineralization on company's properties. Geophysical surveys are not definitive and do not carry any guarantee of a mineral discovery. The company also notes that rock chip grab samples are selected samples and may not be representative of the underlying mineralization.

Chief executive officer Allen Sabet commented:

"The 3-D modelling of our geophysical data has outlined a cluster of new exciting anomalies that together with our surface geochemistry define a series of very attractive targets. The Los Mogotes target has caught our attention located only 2.5 km south of Filo Del Sol and with an approximate footprint of 1,600 by 800 m, it has both a great address and scale. Our technical team is driving towards an exploration campaign planned to be kicked off in October that will advance these exciting new targets."

Los Mogotes geophysical anomaly -- porphyry Cu target

1. Los Mogotes geophysical anomaly is located directly on trend 2.5 km south of the limit of the BHP/Lundin FDS resource that remains open and underdrilled toward the Mogotes claims.
2. Now approximately 1,600 m by 800 m as outlined by less than 100 Ohm.m resistivity anomaly in Mogotes 3-D MT/IP geophysical model defines a compelling drill target for porphyry mineralization. By analogy, similar magnitude and scale geophysical anomalies have been used to guide exploration drilling at other known large-scale porphyry copper-gold deposits along the Miocene belt.
3. Relatively near surface at 200 to 500 m depth to top of target.
4. MT/IP resistivity anomaly centred within larger IP chargeability halo of 30 to 90 ms, consistent with a potential pyrite halo to concealed porphyry mineralization.
5. The previously reported outcrop rock chip copper and alteration anomaly overlies the MT/IP geophysical anomaly (please see May 7, 2025, news release). However, the size of the geophysical anomaly at depth is now significantly larger than the expression of rock chip geochemistry and alteration as seem in outcrop.

Meseta geophysical anomaly -- high-sulphidation epithermal Au-Ag (Cu) target

1. Meseta geophysical anomaly is located on the BHP/Lundin -- Mogotes property boundary directly on trend 1.0 km south of the FDS resource.
2. Large target footprint (1,000 m by 400 m) as defined by the projected to surface trace of a 2,000 to greater than 10,000 Ohm.m MT/IP resistivity anomaly. Resistivity anomalies of this magnitude can be associated with concealed zones of vuggy silica and quartz-alunite alteration that may host HSE Au-Ag-Cu (gold-silver-copper) mineralization.
3. The top of the resistor lies up to 100 m below surface but locally projects to surface where Mogotes has mapped quartz-alunite altered breccias with vuggy silica and locally porphyry veined clasts supporting the concept that the covered resistivity may also be related to quartz-alunite alteration representing an attractive conceptual HSE previous metal target.
4. Morphology suggests potential for a concealed breccia pipe or zone of stratabound vuggy silica: In cross section the resistor has a funnel shape and is up to 350 m thick. The funnel shape target is centered under the Meseta West area.
5. The projected to surface trace of the Meseta geophysical anomaly in plan has a sigmodal shape suggesting a structural jog setting. This is a permissive setting known to host HSE breccias elsewhere in the Miocene age mineral belt.
6. The previously reported quartz-alunite alteration and rock chip Au-Ag assays with strong Sb (antimony), As (arsenic), Ba (barium), Te (tellurium) epithermal path finder elements, overlie the MT/IP anomaly at Meseta. Mogotes rock chip sampling has returned assays up to 1.48 grams per tonne Au, 18.8 g/t Ag from these breccia (please see May 7, 2025, news release) that may represent geochemical "leakage" from mineralization at depth.

The presence of precious metal-bearing, quartz-alunite altered breccias riming the Meseta plateau, with an underlying resistive, funnel shaped MT/IP anomaly, is reminiscent of the prediscovery setting of HSE breccia deposits such as the Goldfields Salares Norte and Barrak Gold Alturas breccia hosted, HSE Au-Ag deposits, located along the El Indio and Marracunga segments of the Miocene age mineral belt that also hosts the Filo Del Sol deposit.

Cuenca geophysical anomaly -- epithermal Au-Ag target

1. Mogotes geophysical model shows the Cuenca Au-Ag veining is located on the flank of a 1,200 m diameter, concealed, mushroom shaped body defined by a very strong resistivity anomaly. Mogotes geological mapping has identified small outcrops of phyllic to advanced argillic altered hypabyssal quartz diorite porphyry overlying the resistivity anomaly, suggesting that the anomaly is outlining a large concealed altered intrusive dome that is hosting the structurally controlled Cuenca vein zone.
2. Cuenca vein zone is characterized by narrow zones of sheeted quartz veinlets that are developed as intersecting structural trends over a 500 m to 750 m strike up to 270 m wide area. The alteration assemblage of dickite-alunite(K greater than Na)-gypsum-jarosite suggest an advanced argillic (AA) epithermal character to the mineralization.
3. Rock chip assays have returned up to 0.84 g/t Au and 16.2 g/t Ag with strongly anomalous Sb-As-Zn-Pb-Te-Ba (please see May 7, 2025, news release) consistent with a precious metal polymetallic epithermal signature. Further assay results from sampling of the zone will be reported in the coming weeks.

The geological setting of the Cuenca target in the roof zone of a large intrusive dome, as inferred from the geophysics, represents a permissive setting for epithermal gold-silver mineralization. Understanding of the mineral potential for the Cuenca zone is at an early stage, however the system footprint and near surface character will facilitate rapid evaluation and if warranted drill testing for near-surface structurally controlled Au-Ag mineralization.

Los Mogotes target cluster

This seasons exploration has outlined a group of compelling new drill targets at Los Mogotes, Meseta and Cuenca, the Mogotes target cluster, that are supported by anomalous rock chip, TerraSpec alteration, geology and now attractive relatively near-surface geophysics anomalies. The spatial relationship and combined geological characteristics of these targets suggest that they maybe part of a linked porphyry epithermal system, as outlined in classic porphyry -- epithermal models, presenting the potential for both porphyry copper and epithermal precious metal (Au-Ag) mineralization in close proximity. The potential for telescoping of epithermal and porphyry mineralization at Los Mogotes, a significant factor in the development of the adjacent Filo del Sol system, will be evaluated by Mogotes as exploration proceeds on these targets.

Option agreement

The company also announces that is has entered into an option agreement dated July 29, 2025, with Ingenieria e Inversiones Cerro Dorado Ltd. (the optionor) and Mogotes Metals Chile SPA (the option agreement) pursuant to which, the company has been granted an option to purchase 100 per cent of certain mining concessions known as La Perla Uno a Diez, located in the municipality of Tierra Amarilla, province of Copiapo, Atacama region. In order to exercise the option, the company shall pay the optionor an aggregate of $550,000 (U.S.), payable over a period of 48 months from the effective date and the issuance of an aggregate of 2,008,270 common shares in the capital of the company at a price of 24 cents per common share issuable over a period of 48 months from the effective date. The common shares issuable under the option agreement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The option agreement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

Investor relations agreements

The company has engaged Torrey Hills Capital Inc., a San Diego-based investor relations firm, to provide market awareness and investor relations services. Cliff Mastricola, the principal of Torrey Hills, will oversee all activities related to Mogotes. Torrey Hills specializes in small and microcap companies and will aim to increase awareness of Mogotes through its network of investment professionals in both the United States and Canadian markets. The engagement is on a month-to-month basis at a rate of $7,000 (U.S.) per month and can be terminated by either party with a 30-day notice. Torrey Hills currently has no direct or indirect interest in the securities of Mogotes.

The company has also engaged Oak Hill Financial Inc., a Toronto-based firm, to provide investor relations, business and capital markets advisory services. Oak Hill will focus on heightening market and brand awareness for the company within the investment community. The agreement with Oak hill is effective as of Aug. 1, 2025, and has an initial agreement is for a period of two months at a monthly fee of $12,000, plus applicable taxes. Neither Oak Hill nor its principals have any direct or indirect interest in Mogotes or its securities.

The company has amended its agreement with Senergy Communications Capital Inc. Under the terms of the amended agreement, the company will pay Senergy a $33,333 per month for a period of three months. This amount is primarily for media and advertising spend and includes a management fee for overseeing and executing a targeted advertising campaign, as well as managing the advertising budget on behalf of the company. The campaign will focus on increasing awareness of the company through a combination of digital advertising, investor outreach and content creation. The agreement has a term of three months starting on July 7, 2025. Senergy and its principal, Aleem Fidai, maintain an arm's-length relationship with the company. Mr. Fidai currently holds 62,500 common shares and 31,250 warrants of the company. Neither Senergy nor any of its other principals or affiliates holds any additional direct or indirect interest in the company, nor do they have any current intention to acquire further interest.

The above-mentioned investor relations agreements are subject to the approval of the TSX Venture Exchange.

About Mogotes Metals Inc.

Mogotes Metals is a mineral exploration company exploring for copper and gold in the prospective Vicuna district of Argentina and Chile. Mogotes flagship project, Filo Sur, adjoins the large Filo del Sol copper-gold-silver discovery, and is along the same north-south-trending belt as the Filo Del Sol -- Aurora and NGEx Minerals Lunahuasi and Los Helados copper-gold deposits.

Qualified persons

The scientific and technical disclosure for the Filo Sur project included in this news release have been reviewed and approved by Stephen Nano who is the qualified person as defined by National Instrument 43-101. Mr. Nano is a director and technical advieor of the company.

Mogotes applies industry standard exploration sampling methodologies and techniques. All geochemical soil, stream, rock and drill samples are collected under the supervision of the company's geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples from Argentina are dispatched bagged in raffia bags and packaged for shipment by an exclusive truck to the ALS laboratory in Mendoza, Argentina. Samples from Chile are dispatched bagged in raffia bags and delivered to the ALS laboratory in Copiapo, Chile. These facilities carried out sample preparation (PREP-31B) which includes crush to 70 per cent less than two millimetres, riffle split off one kilogram, pulverize to 85 per cent passing 75 micron. The prepared samples are sent to the ALS laboratory in Lima, Peru, for gold and multielement analysis. Gold (Au-ICP21) was analyzed by fire assay fusion with ICP-AES finish on a 30 g sample. Samples were also analyzed for a suit of 48 elements (ME-MS61) with four-acid digestion and ICP-MS finish.

Assay results from drill core samples may be higher, lower or similar to results obtained from surface rock, channel, trench samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

We seek Safe Harbor.