Mr. Gregory Duras reports

METALLICA RESOURCES CORP. PROVIDES UPDATE ON EXCLUSIVITY AND BINDING OPTION AGREEMENT FOR NUEVA CELTI COPPER PROJECT

Western Metallica Resources Corp. has provided a status update to its previously announced exclusivity and binding option agreement with AJAX Resources PLC (AQSE: AJAX), pursuant to which Ajax has secured an exclusive and irrevocable option to acquire 100 per cent of the issued share capital of Western Metallica SL, a fully owned Spanish subsidiary of Western Metallica which owns the Nueva Celti copper project located in Andalusia, Spain (see news release dated Aug. 7, 2026).

Ajax continues to progress its due diligence and the parties continue to progress the negotiation of definitive documentation in order to close the transaction in the near term. The company has agreed to extend the exclusivity period to Oct. 30, 2026, and is anticipating closing the transaction before then.

The company has received TSX-V conditional approval for the transaction subject to the completion of various closing conditions, including without limitation, shareholder approval.

About Western Metallica Resources Corp.

Western Metallica is an Ontario company with its head office in Toronto, Ont. Western Metallica is in the business of mineral resource exploration and development, its principal asset is its 100-per-cent-owned Penedela gold property in the Navelgas gold belt in Asturias, Spain. Western Metallica also has an interest in two other Spanish gold projects in the Navelgas gold belt in Asturias (Valledor and Sierra Alta) and one project located in Andalucia (Nueva Celti).

We seek Safe Harbor.