Mr. Rob L'Heureux reports

METALERO MINING (MLO) CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Metalero Mining Corp. has closed the first tranche of its previously announced non-brokered private placement.

The first tranche consisted of 952,381 flow-through (FT) units at a price of 21 cents per unit, for total gross proceeds of $200,000. Each unit consists of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at a price of 26 cents for two years from the date of issuance.

The proceeds will be used to support the fall 2025 exploration work at Benson, including further sampling and ground geophysics. All securities issued are subject to a hold period until Feb. 22, 2025.

In connection with the sale of these FT units, Metalero paid a total of $16,000 in cash and issued 76,189 non-transferable finders' warrants to eligible finders for certain of the FT units sold. Each finder's warrant entitles the holder to purchase one common share of Metalero at a price of 21 cents per share, for up to two years from the date of issuance.

All FT shares offered in connection with this offering qualify as a flow-through share within the meaning of the Income Tax Act (Canada). For subscribers who are qualifying individuals under the Income Tax Act (British Columbia), these expenditures will also qualify as B.C. flow-through mining expenditures, as defined in Section 4.721(1) of the B.C. tax act.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

For additional information with respect to this offering, please refer to Metalero's news releases dated Sept. 25, 2025, and Oct. 10, 2025, available for viewing on Metalero's SEDAR+ profile.

Benson project background

Metalero has signed a binding letter of intent (LOI) to acquire 100 per cent of the Benson project, which is strategically located in the Quesnel Trough, one of Canada's most important mineral belts. The Quesnel Trough is a Triassic/Jurassic-age belt of volcano-sedimentary and intrusive rocks, which hosts more than 360 alkalic copper-gold porphyry occurrences and deposits. At more than 1,500 kilometres (km) long, the Quesnel Trough runs through the middle of British Columbia stretching from the United States to Yukon. It hosts numerous major mines, which produce copper and gold, as well as variable amounts of silver and molybdenum while also hosting several types of gold deposits.

High-profile and long-lived mines in the Quesnel Trough include Highland Valley, Mt. Milligan, New Afton and Kemess, which are complemented by recent exploration work, including Woodjam, MPD, Kwanika and the extensive staking by Australian mining giant, the Fortescue Group.

The Benson project lies close to infrastructure, and is traversed by Highway 26 and a vast network of logging roads, allowing for ready access to all parts of the property and capital-efficient exploration. The large land package covers five different target areas illuminated by recent artificial intelligence (AI) work by Geoscience B.C. (Mitchinson et al., Geoscience B.C. report 2022-07). This AI study incorporated a wide variety of historical data sets, including geophysics, geology, sampling information and drilling data (where present), to identify high-potential (porphyry-like) anomalies with similarities to known porphyry deposits elsewhere in the belt. Even the limited historical exploration at Benson has identified numerous gold and copper surface geochemical anomalies while modest, historical drill programs have intersected skarn and epithermal gold and silver mineralization, which are both intrusive-related styles of mineralization and are commonly associated with porphyry systems.

About Metalero Mining Corp.

Metalero Mining is a Canadian-based junior exploration company focused on copper and gold projects in North America. Its 166-square-kilometre, road-accessible Benson project serves as Metalero's flagship, and is host to five prospects containing gold and copper within porphyry-related mineralized systems.

Qualified person

The technical content of this news release pertaining to the Benson project was reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, a non-independent qualified person as defined by National Instrument 43-101.

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