Mr. Jeffrey Reeder reports

PERUVIAN METALS PRODUCTION UPDATE FOR THE FIRST HALF OF 2026 AT AGUILA NORTE PROCESSING PLANT

Peruvian Metals Corp. has provided an update regarding the mineral processing at its 80-per-cent-owned fully permitted Aguila Norte processing plant, located in northern Peru.

During the first six months of 2026, the plant was at full capacity and processed 18,269 tonnes of third party mineral, compared with 18,500 tonnes in 2025 and 14,869 tonnes in 2024. The 2026 year-to-date production show a slight decrease compared with the same period for 2025. The decrease in production was due to planned maintenance and the overhaul of the ball mill on site. The company anticipates the plant will be at full capacity for the remainder of 2026 and expects to report a record year of production.

Jeffrey Reeder, chief executive officer of Peruvian Metals, commented: "We are pleased that we are on track for another record processing year in 2026 at Aguila Norte. The company completed the maintenance program on time and budget. The plant has processed almost 210,000 tonnes since 2018 and we are very pleased with the durability of the plant's equipment. The company continues to be in a unique position compared to many in the junior mining space as we continue to strengthen the company's financial position and advance our mineral assets with minimal share dilution. The company is currently developing its wholly owned Palta Dorada Au-Ag property and its 50-per-cent-owned Mercedes property, and is reviewing additional gold properties held by the company. Updates on these properties will be provided to shareholders in due course."

The Aguila Norte processing plant has an environmental permit (IGAC) from the Peruvian government, which provides the plant with the ability to expand operations past the current 100-tonne-per-day level. Jeffrey Reeder, PGeo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in 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 toll milling services for clients and to produce high-grade concentrates from mineral purchases. The company continues to acquire and develop precious and base metal properties in Peru.

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