Mr. Luis Goyzueta reports

TITIMINAS SILVER CONFIRMS HISTORICAL HIGH-GRADE MOLYBDENUM GRADES AT JANCHISCOCHA IN FIRST MODERN EXPLORATION CAMPAIGN; DEFINES DISTRICT-SCALE QUARTZ-MOLYBDENITE VEIN SYSTEM

Titiminas Silver Inc. has released results from the first modern exploration campaign at its Janchiscocha molybdenum target, located within the company's concession block in the region of Junin, central Peru. Janchiscocha is a past-producing molybdenum mine, with over two kilometres of underground development recognized to date. The June, 2026, campaign confirmed high-grade molybdenum mineralization at the historically mined Janchiscocha and Londres targets, identified multiple previously untested quartz-molybdenite veins, and recognized an approximately one-kilometre mineralized corridor connecting the two historic mines, supporting the company's interpretation that Janchiscocha hosts a district-scale quartz-molybdenite vein system rather than a series of isolated historic occurrences.

Note on widths: Grades are reported over sampling widths (the width of the channel or rock sample taken across the mineralized vein). Geological structure widths, where reported, describe the width of the host structure and are stated separately.

Highlights:

• High-grade molybdenum confirmed at both the Janchiscocha and Londres targets, with grades up to 8.29 per cent Mo and consistent average grades in the range of approximately 1 per cent to 2 per cent Mo;
• Janchiscocha mine: systematic underground channel sampling along 150 metres of Level 4464 returned an average grade of 1.33 per cent Mo (including a high assay of 5.08 per cent Mo) over an average sampling width of 0.62 m; sampling along 80 metres of Level 4402 returned an average of 1.01 per cent Mo (peak 1.94 per cent Mo) over an average sampling width of 0.68 m;
• Londres mine: initial underground sampling returned an average grade of 2.30 per cent Mo from eight representative samples, including a maximum assay of 8.29 per cent Mo, over an average sampling width of 0.66 m;
• Multiple new quartz-molybdenite veins discovered across the Janchiscocha mine area and the Londres mine area and the intermediate corridor, including five previously untested surface veins at Janchiscocha with mapped strike lengths of up to 300 metres and vein widths of 0.4 to 1.0 m;
• Approximately one-kilometre Janchiscocha-Londres corridor identified, hosting at least four additional quartz-molybdenite structures; the host geological structures reach up to 2.5 m in width and are located approximately 300 metres above the historical underground workings, indicating significant vertical extent;
• District-scale potential: the results define an approximately four-kilometre mineralized molybdenum trend and support the interpretation of a single larger hydrothermal molybdenum system, consistent with the copper-molybdenum porphyry model previously described across the broader Madre Sierra district;
• Critical metals exposure: molybdenum is classified as a critical mineral in Canada, the United States and the European Union, adding a strategic critical metals dimension to the company's silver-focused development.

Janchiscocha mine

The Janchiscocha mine is the company's principal molybdenum exploration area, covering approximately 37 hectares. Janchiscocha is a past-producing molybdenum mine, with over two kilometres of underground development recognized to date across three levels at the Janchiscocha mine. Exploration completed to date has confirmed a high-grade quartz-molybdenite vein system hosted within Permo-Triassic granitic rocks, a geological environment recognized around the world for hosting significant molybdenum deposits.

Current work has identified six quartz-molybdenite structures at Janchiscocha, including the historically mined Janchiscocha vein, where underground sampling to date has confirmed continuous mineralization over 150 metres of strike. In addition to the historical workings, the company discovered five previously untested quartz-molybdenite veins at surface with mapped strike lengths of up to 300 metres and vein widths ranging from 0.4 metre to 1.2 metres, substantially expanding the known mineralized footprint. The veins occur in multiple structural orientations (north-south, northwest-southeast and east-west) and are characterized by quartz with molybdenite and associated oxidation minerals, including jarosite, goethite, hematite and locally ferrimolybdite. The mineralization remains open along strike and at depth.

Londres target

The Londres target is in the northern portion of the Titiminas property and represents a newly emerging high-grade molybdenum target hosted within the same Permo-Triassic granitic intrusive complex as Janchiscocha. Work to date has identified three quartz-molybdenite veins exposed in historical underground workings, with mapped strike lengths of up to 100 metres and vein widths ranging from 0.3 to 0.9 m, hosted within geological structures up to 0.95 m in width. The mineralization is characterized by coarse molybdenite hosted within quartz veins and remains open along strike and at depth.

Exploration at Londres remains at an early stage, with work to date focused primarily on the historical underground workings; systematic surface mapping and reconnaissance surrounding the mine have yet to be completed. Management believes this provides meaningful exploration upside and the potential to identify additional mineralized structures within the broader target area.

Janchiscocha-Londres corridor

One of the most significant outcomes of the campaign is the recognition of a previously unknown mineralized corridor extending approximately one kilometre between the Janchiscocha and Londres mines. Within this corridor, the exploration team identified at least four additional quartz-molybdenite veins associated with historical underground workings, exhibiting mapped strike lengths of 30 metres to 100 metres. The host geological structures reach up to 2.5 metres in width, with mineralized sampling widths of up to 0.8 metre.

The geological, structural and mineralogical characteristics of these veins closely resemble those at both Janchiscocha and Londres. The newly identified structures occur approximately 300 metres above the historical underground workings, highlighting significant vertical exploration potential and indicating that the mineralizing system may extend over a substantial elevation range. This continuity supports the interpretation that the two historic mines form part of a single larger hydrothermal molybdenum system.

Additional vein potential across the targets

Beyond the principal structures sampled during the campaign, each of the targets hosts multiple additional mineralized veins mapped at surface and in underground workings, providing a substantial inventory of priority targets for follow-up work:

• Janchiscocha target: In addition to the six principal quartz-molybdenite structures, a further 12 mineralized veins have been mapped at surface.
• Londres target: In addition to the three principal veins developed by historical workings, a further six dozen veins have been observed at surface.
• Janchiscocha-Londres corridor: In addition to the four principal structures, a further four veins have been revealed in the surrounding area.

Collectively, these additional veins reinforce the interpretation of an extensive, district-scale quartz-molybdenite system and materially expand the pipeline of drill-ready targets. Geological work will continue at Janchiscocha over the coming months, with the aim of reaching a strategic decision on the target by year-end.

Geochemical results

The first phase of the geochemical program comprised 100 rock samples (89 underground and 11 surface), collected from the Janchiscocha and Londres targets and analyzed by Certimin SA's laboratory in Lima, Peru. A summary of principal results is presented below.

The consistently high molybdenum grades returned from both Janchiscocha and Londres support the company's interpretation that the target area hosts a district-scale quartz-molybdenite vein system and justify advancing to the next phase of systematic exploration, including detailed mapping, channel sampling and drill testing.

District-scale interpretation

The results substantially expand the known mineralized footprint through the discovery of multiple previously unrecognized quartz-molybdenite veins at Janchiscocha, at Londres and within the corridor between the two targets. The identification of several mineralized structures with consistent geological and mineralogical characteristics supports the interpretation that Janchiscocha and Londres may represent parts of a larger, district-scale hydrothermal molybdenum system rather than isolated mineral occurrences.

This interpretation is consistent with the integrated geological model previously described for the broader Madre Sierra district, in which high-grade molybdenum and potassic alteration at Janchiscocha represent the proximal expression of a copper-molybdenum porphyry system at depth. Historical underground development, recent high-grade sampling results and newly identified surface mineralization together provide multiple priority targets for the next phase of systematic exploration, including detailed mapping, channel sampling and diamond drilling.

Commentary from the vice-president of exploration

"These are exactly the results we hoped to see from a first, disciplined sampling program at the Janchiscocha molybdenum mine. High-grade molybdenum is confirmed not only in the historically mined workings but across five previously untested surface veins and a full kilometre of new ground between Janchiscocha and Londres -- pointing to a single, district-scale quartz-molybdenite system rather than isolated historic mines. The newly recognized structures also sit roughly 300 metres above the old workings, consistent with the copper-molybdenum porphyry model we have described for the broader Madre Sierra district.

"Our next step is to convert this sampling into a systematic mapping, channel sampling and drill testing program to define the scale of the system. With molybdenum now recognized as a critical metal across our core markets, Janchiscocha adds a meaningful critical metals dimension to our silver-focused pipeline," said Helmut Herrera, vice-president of exploration of Titiminas Silver.

About Titiminas Silver Inc.

Titiminas Silver is a Peru-focused silver developer advancing the high-grade, past-producing Madre Sierra mine in the Ricran district, Jauja province, region of Junin, central Peru. The company is pursuing a phased development strategy designed to fast-track production at Madre Sierra under Peru's small-mining regime while concurrently evaluating expansion potential and pursuing strategic acquisitions to build a multiasset, mid-tier silver producer in one of the world's most prolific mining jurisdictions.

Qualified person statement

The technical and scientific information contained in this news release has been reviewed and approved by Mr. Herrera, vice-president of exploration of Titiminas Silver. Mr. Herrera is a geologist with a degree from the Universidad Nacional Mayor de San Marcos (Lima, Peru) and a postgraduate degree in mineral economics from the University of Chile, with more than 20 years of exploration experience. He is a competent person under the JORC Code and qualifies as a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Janchiscocha is a past-producing molybdenum mine historically operated by Peru Molibdeno SA. References in this news release to historical operations at Janchiscocha are based on historical documentation and field observation. Historical workings were not developed by the company, and the company has not independently verified the full extent of historical development. The sampling results reported in this news release are from surface and underground rock and channel samples collected by the company during the May/June, 2026, campaign; such samples are selective by nature and are not necessarily representative of the underlying mineralization. The results disclosed herein should not be interpreted as a mineral resource or mineral reserve estimate. Significant additional work will be required before any mineralization at Janchiscocha could be disclosed as a current mineral resource or mineral reserve under NI 43-101.

Quality assurance/quality control

Rock and channel samples reported herein were collected by Titiminas geologists under standard protocols, sealed on site and submitted to Certimin's laboratory in Lima, Peru, an accredited independent laboratory, for preparation and assay. Molybdenum was determined by multielement ICP analysis, with overlimit samples reassayed by appropriate higher-range procedures. Certified reference materials, blanks and field duplicates were inserted into the sample stream as part of the company's quality assurance and quality control program.

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