Mr. Allen Sabet reports

MOGOTES METALS ANNOUNCES FINAL APPROVAL IN CONNECTION WITH PRIVATE PLACEMENT OF UNITS

Mogotes Metals Inc., further to its news releases of June 2, 2025, June 16, 2025, July 7, 2025, and July 14, 2025, has received final approval of the TSX Venture Exchange with respect to the company's non-brokered private placement of 111.2 million units for aggregate gross proceeds of $22.24-million. In connection with final approval of the offering, proceeds of $3,737,933.20 have been released to the company, representing the subscription proceeds from the sale of 18,689,666 units that were released from escrow on Aug. 20, 2025, to an associated entity of the Braun family.

In accordance with the requirements of Section 3.1 of National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Aster Blue Ltd. announces that, in connection with the final TSX-V approval of the offering and the release of its escrowed units on Aug. 20, 2025, it acquired an aggregate of 45 million units for an aggregate subscription price of $9-million. Each unit comprises one common share of Mogotes and one-half of a common share purchase warrant, and each whole warrant is exercisable to acquire one common share at a price of 40 cents per warrant share until July 4, 2027.

Prior to the closing of the second tranche of the offering, Aster Blue held no common shares of the company. After the completion of the offering and immediately following the release of the escrowed units, which were pending TSX-V approval, Aster Blue acquired an aggregate of 45 million units, comprising 45 million common shares and 22.5 million warrants. As at today's date, Aster Blue holds 45 million common shares, representing approximately 11.99 per cent of the issued and outstanding common shares, and 22.5 million warrants, exercisable into 22.5 million warrant shares. Assuming the exercise of the warrants held by Aster Blue in full at this time, it could own approximately 16.97 per cent of the issued and outstanding common shares on a partially diluted basis.

Aster Blue has acquired the common shares for investment purposes. In the future, it may from time to time, directly or indirectly, acquire additional securities of the company (including, without limitation, the exercise of the warrants into warrant shares, in accordance with their respective terms) or dispose of such securities subject to a number of factors, including, without limitation, general market and economic conditions, and other investment and business opportunities available. Aster Blue's registered address is Craigmuir Chambers Road Town, Tortola, VG 1110, British Virgin Islands. A copy of the early warning report filed by Aster Blue may be obtained on the company's SEDAR+ profile. For further information or to obtain a copy of the subject early warning report, please contact Karla Suarez at 41-22-888-0606.

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's 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.

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