Mr. Daniel Henao reports

MINEROS ADVANCES PORVENIR PROJECT DEVELOPMENT; DETAILED ENGINEERING UNDERWAY FOLLOWING INDEPENDENT ENGINEERING REVIEW

Mineros SA has entered the detailed engineering phase for the development of its 100-per-cent-owned Porvenir polymetallic deposit, located within the Hemco property in Nicaragua, following an independent engineering review of the updated prefeasibility study announced on March 31, 2026. A construction decision is expected in early 2027.

"Porvenir represents a transformative asset for Mineros, and we are treating its development with the technical and financial rigour it deserves," stated Daniel Henao, president and chief executive officer. "By partnering with globally recognized engineering firms to validate our technical work, we are ensuring a seamless transition into detailed engineering. The ongoing design optimization of the mine and processing plant, our drilling campaign for both the mine plan and metallurgy, the preparation of early works, and our progress on permitting all underscore our commitment to maintaining momentum and unlocking the full value of the Porvenir district for our shareholders."

Gap analysis and detailed engineering readiness

To ensure effective capital allocation and project execution, Mineros engaged a consortium of globally recognized engineering firms, including BBA Inc., NCL Ingenieria y Construccion, Mining Plus and Tanka Engineering, to conduct a comprehensive gap analysis of the Porvenir project's technical assumptions. The review confirmed the project's readiness, and detailed engineering has already commenced on the main components of the project.

Mine plan and metallurgy derisking

Mineros is currently undertaking a targeted drilling campaign at Porvenir. The drilling is designed to reduce geological uncertainty, derisk the first three years of the underground mine plan and support the metallurgical testwork being conducted as part of the detailed engineering for the processing plant. This approach is intended to increase confidence in both the initial production profile and the processing flow sheet.

Early works and permitting

To pro-actively derisk the project timeline and enable rapid mobilization should a construction decision be made, Mineros is preparing to initiate early works at the Porvenir project site in areas where the required permits have been obtained. These activities will focus on critical path infrastructure, including the construction of site accesses, preliminary earthworks and surface platforms.

On the regulatory front, the company continues to advance its environmental permitting. On July 22, 2026, Mineros hosted a site visit by representatives of the Ministry of the Environment and Natural Resources, the Secretariat of Natural Resources and the Environment, and the Environmental Commission for Natural Resources and the Environment, both of the North Caribbean coast autonomous region, and the municipal mayor's office. The visit forms part of the work necessary to obtain approvals for forest management for the tailings storage and processing plant facilities. The company is also developing a hydrological study to support its application for industrial water use at the mine and processing plant, which, if granted, would take the form of a concession title issued by the National Water Authority. Mineros expects these permits to be issued before the end of 2026. The company is sequencing its technical and engineering work so that it is positioned to finalize construction decision once permitting is fully approved.

Over all, the work conducted and the published 2026 prefeasibility study confirm the Porvenir project as a stand-alone underground operation and the existence of an emerging polymetallic district that also includes the Guillermina, Leticia and San Antonio deposits. These deposits are at an earlier stage of evaluation than Porvenir, and, while each hosts mineral resource estimates, they do not have mineral reserves estimated in accordance with National Instrument 43-101. There is no certainty that they will advance to a stage that could contribute to an extension of the Porvenir mine life.

For more information on the Porvenir project, please refer to the Mineros news release "Mineros Announces Updated Prefeasibility Study for the Porvenir Project and Highlights Emerging Porvenir Polymetallic District," issued March 31, 2026, and to the independent technical report prepared in accordance with National Instrument 43-101 in respect of the Porvenir project, titled "NI 43-101 Technical Report, Hemco Property, Region Autonoma de la Costa Caribe Norte, Nicaragua," issued and effective March 31, 2026, prepared by SLR Consulting (Canada) Ltd., which is available from the company's website and under the company's profile on SEDAR+.

Technical disclosure and qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Maria Vallejo, PEng, FAusIMM, vice-president, strategic growth and technical services, of Mineros, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Mineros SA

Mineros is a leading Latin American gold mining company headquartered in Medellin, Colombia. The company operates a diversified portfolio of assets in Colombia and Nicaragua, and maintains a pipeline of development and exploration projects across the region, including La Pepa project in Chile and an exploration project in the Tolima department, near Cajamarca, Colombia.

With more than 50 years of operating history, Mineros maintains a long-standing focus on safety, sustainability and disciplined capital allocation. Its common shares are listed on the Toronto Stock Exchange (MSA) and the Colombian Stock Exchange (MINEROS), and trade on the OTCQX Best Market under the symbol MNSAF.

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