Edmonton, Alberta--(Newsfile Corp. - March 2, 2026) - Peruvian Metals Corp (TSXV: PER) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce that the Company has renewed the lease on the use of the surface rights at its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru for an additional 10 years.

The Plant is located on a 120-hectare concession wholly owned by the Company's 80% owned subsidiary Minera Aguila de Oro S.A.C ("MADOSAC"). Initially the Company received a 10-year authorization use in February 2016 to construct and process mineral at the Aguila Norte site. The Company was granted the environmental permit ("IGAC") in mid-2017 by the Peruvian government to initiate activities. IGAC permits the Plant to process mineral at the current 100-tonne-per-day level but can be expanded to 350 tonnes per day. The Plant operated at full capacity in 2025 by processing 36,616 tonnes. With the renewal in place, the Company will start the engineering studies on the additions needed to the Plant to expand the daily capacity and the tailings facility. The expected delivery of mineral from Peruvian Metals' 100% owned material in 2026 will require the additional capacity at the Plant.

The Company will focus on its 100% owned Palta Dorada Au-Ag property ("Palta Dorada") located 120 kilometers southeast of Aguila Norte. Palta Dorada is held by a separate, wholly owned subsidiary of Peruvian Metals Recent metallurgical testing of sulphide material at Palta Dorada with a head grade of 8.3 grams Au/mt shows that 89% of the gold is recoverable. The result of the recent metallurgical work is summarized in the Company's press release dated January 21^st, 2026. Precious metals concentrates produced at the Plant from mineral extracted at Palta Dorada will be 100% owned by the Company.

MADOSAC owns two additional contiguous concessions totaling 263 hectares that are not covered by the environmental IGAC permit. MADOSAC's concessions host numerous gold-silver-copper veins exposed in historic workings in close proximately to the Plant. Sampling in 2009 by a Canadian junior, AndeanGold Ltd. ("AndeanGold") noted in their press release dated May 12th, 2009, that 31 samples taken from the main adit returned a weighted average of 4.81 g/tonne ("mt"), Au, 41.7 g/mt Ag and 0.51% Cu. The adits and old workings are located 500 meters North East of the Plant and expose two parallel mineralized quartz veins. The Company was able to clean out a 20-meter vertical shaft within the main adit and took one grab sample at the bottom of the shaft that contained abundant sulphides. Assay results from that sample returned 1.487 grams Au/mt, 3.40 ounces Ag/mt and 3.00 % Cu. This sample was also assayed for soluble copper returning 0.24% Cu. This result shows that the veins at Aguila Norte contain sulphides at depth which could eventually be processed at the Plant. All samples from this area were processed by Procesmin Ingenieros S.R.L located in Caraz Ancash by Fire Assay for Au-Ag and Atomic Absorption for Cu.

The Company will also focus on a second area of interest located immediately east and adjacent to the Plant in an area not covered by the environmental permit. The Company's geologists took 7 grab samples from this vein where assays averaged 6.24 grams Au/mt and ranged from 1.03 to 13.50 grams Au/mt. The grab samples were taken from the underground workings and stockpiles on surface. The vein is heavily oxidized and varies in width between 0.30 to 1.20 meters. The Company also believes that there exists good potential at depth for the sulphide gold potential of this vein. Samples were analyzed by Fire Assay at Auro Met Labs located in Trujillo. Auro Met Labs is used by many of miners and mills in the area. A more detailed summary of the previous work conducted by AndeanGold and the sale of gold material from the area is provided in the Company's news released dated December 17th , 2025.

Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, comments: "In 2015 the Company focused on creating a sustainable exploration and development company. At that time, we noticed that the small miner in Peru was in a unique position to benefit from new regulations allowing provisional permits for mineral extraction and processing. The Peruvian Government required that the small miner must process their mineral in permitted processing plants. Therefore, we decided to build a flotation plant to treat sulphides and to build relationships with the small miners in Peru. We also continued acquiring new areas for exploration by application and purchasing, but with the focus on high grade mineral. The Company is now stronger than ever and with the precious metal prices at historic levels, Peruvian Metals is in a position to benefit from the processing of its own mineral."

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian exploration/development and mineral processing company. Our business model is to provide clients with toll milling services and produce high-grade marketable concentrates from the Company's mineral properties. The Management and Directors have been operating successfully in Peru for over 30 years, and the Company continues to acquire and develop precious and base metal properties in Peru. Peruvian Metals has a history of timely transactions that have added long term value for shareholders.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

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