Mr. Jeffrey Reeder reports

PERUVIAN METALS CORP. CLOSES SALE OF THE MARIA NORTE AG-AU-PB-ZN TO RIO SILVER INC.

Peruvian Metals Corp., following regulatory approval, has closed the previously announced transaction with Rio Silver Inc. to sell 100 per cent of the issued and outstanding common shares of Mamanina Exploraciones S.A.C., a Peruvian corporation, which holds mining rights in the Maria Norte project, located in Peru. The details and the terms of the transaction are summarized in the company's previous news releases on March 26, 2025, and Oct. 28, 2025.

Pursuant to the terms of the transaction, on closing, Rio Silver has acquired from Peruvian 100 per cent of the issued and outstanding common shares of the subsidiary. In consideration, Rio Silver issued to Peruvian 3,999,999 common shares of the company, representing 9.27 per cent of the company's issued and outstanding share capital, and in addition, the company will be paying an aggregate of $250,000 (U.S.) by making semi-annual payments to Peruvian over a period of five years commencing on June 15, 2025.

Jeffrey Reeder, chief executive officer and chairman of Peruvian Metals, commented: "We are very pleased to have completed the transaction with Rio Silver. Peruvian Metals now has significant interest in Rio Silver and will indirectly benefit from any exploration or development success. Management has over 30 years of successful exploration experience in Peru and has generated internally several projects that has attracted major mining companies, such as Rio Tinto, First Quantum, Rio Alto, IAM Gold and Mexican miner Industrias Penoles. The company will continue to focus the company's direction into the Peruvian gold and silver space in northern Peru with our Palta Dorada, Yanayco and Minas Vizca projects while enjoying positive cash flow from our Aguila Norte processing plant. Peruvian Metal shareholders will continue to benefit from our company's ability to identify and acquire prospective mineral projects throughout the country."

Qualified person

Jeffrey Reeder, PGeo, is the qualified person, as defined in National Instrument 43-101, who has reviewed and approved the technical contents of this news release.

About Peruvian Metals Corp.

Peruvian Metals is a Canadian exploration and mineral processing company. The company's business model is to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit (IGAC) from the Peruvian government, which provides the company with the ability to expand operations past the current 100-tonne-per-day level. The company continues to acquire and develop precious and base metal properties in Peru.

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