Vancouver, British Columbia--(Newsfile Corp. - July 20, 2026) - Platauro Metals Corp. (TSXV: PURO) (formerly "Mexican Gold Mining Corp.") ("Platauro" or the "Company") is pleased to announce the successful completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") pursuant to the arrangement agreement dated April 8, 2026 (the "Arrangement Agreement"), whereby Platauro acquired all of the issued and outstanding common shares of Alcon Silver Corp. ("Alcon") in exchange for common shares in the capital of Platauro (the "Consideration Shares").

Pursuant to the Arrangement, Alcon shareholders received one post-consolidation common share of Platauro for each common share of Alcon held (each, an "Alcon Share"). Following completion of the Arrangement and the conversion of the Subscription Receipts (as defined below), former Alcon shareholders hold approximately 53% of the issued and outstanding common shares of Platauro on a non-diluted basis. A total of 40,797,830 Consideration Shares were issued to Alcon shareholders at a deemed price of approximately $0.27 per share on a post-consolidation basis, based on the market price of the Consideration Shares prior to closing of the Arrangement, for aggregate deemed consideration of approximately $10,879,640.

Jack Campbell, CEO of Platauro, stated: "We are pleased to announce the successful completion of this transformative transaction, which establishes Platauro as a diversified precious metals exploration company with a compelling growth platform. The combination of the robust economics and expansion potential at Las Minas, alongside the strong silver foundation at Princesa, creates a portfolio anchored by quality resources. With a proven team and a strong, aligned shareholder base, we believe Platauro is well-positioned to deliver significant value to our shareholders."

Name Change and Consolidation

Prior to and in connection with the Arrangement, the Company completed a consolidation of its outstanding common shares on a 1.6667-for-one basis (the "Consolidation") and changed its name from "Mexican Gold Mining Corp." to "Platauro Metals Corp." (the "Name Change"). Effective at the open of markets on July 20, 2026, the common shares of Platauro will commence trading on a post-Consolidation basis under the new name and ticker symbol "PURO" and new CUSIP 727632101.

Concurrent Financing

In connection with the Arrangement, the Company previously completed a non-brokered private placement of 11,495,000 subscription receipts (each, a "Subscription Receipt") at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $2,299,000 (the "Concurrent Financing"). Upon closing of the Arrangement and satisfaction of the escrow release conditions, each Subscription Receipt automatically converted into one unit of the Company (each, a "Unit"), with each Unit consisting of one common share of the Company (on a post-Consolidation basis) and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one common share at an exercise price of $0.30 per share for a period of thirty (30) months following the closing date of the Arrangement. All securities issued pursuant to the Concurrent Financing are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

The net proceeds of the Concurrent Financing will be used for exploration of the Princesa project, exploration of the Rowdy claim at Tatatila, legal fees associated with the Las Minas claims dispute, and for general corporate and working capital purposes.

Board and Management Changes

As previously announced and in connection with the completion of the Arrangement, John Larson and Bruce Winfield, current directors of Alcon, have joined the board of directors of Platauro (the "Board") and Ashley O'Neill has resigned from the Board. All the directors and officers of Alcon resigned from their positions and Platauro will apply for Alcon to cease to be a reporting issuer under applicable Canadian securities laws. Robert S. Tyson, former President and Chief Executive Officer of Alcon, was appointed as an advisor to the Company.

Conversion of Alcon Convertible Debentures

Prior to completion of the Arrangement, all outstanding unsecured convertible debentures of Alcon were automatically converted into a total of 560,000 Alcon Shares at a price of $0.25 per share. No Alcon convertible debentures remain outstanding.

About Platauro Metals Corp.

Platauro is a Canadian-based mineral exploration and development company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas. The Company's portfolio includes the Las Minas Project located in the core of the Las Minas mining district in Veracruz State, Mexico, host to one of the newest, under-explored skarn systems known in Mexico, and the Princesa Silver-Polymetallic Project in the Puno-Cusco Mining District, Peru.

For Further Information

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding: the anticipated benefits of the Arrangement; the Company's future plans and objectives; and expectations regarding growth, development and exploration activities at the Las Minas and Princesa projects. Forward-looking information is based on certain assumptions that the Company believes are reasonable at this time, including assumptions as to the Company's ability to execute on its business plans and strategies; the Company's ability to use the net proceeds of the Concurrent Financing as currently contemplated; and the absence of material adverse changes affecting the Company or its business, assets or capital markets generally.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the failure to realize anticipated benefits of the Arrangement; risks associated with the integration of the businesses; general economic, market and business conditions; fluctuations in securities markets and the market price of the Company's shares; fluctuations in commodity prices; risks inherent in the mineral exploration industry; and the risk factors described in the Company's public disclosure documents available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and, except as required by applicable securities laws, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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