Latin Metals talks option terms at Esperanza

Executive Summary

• Latin Metals reports significant geological progress at the Esperanza and Huachi copper‑gold projects in San Juan, Argentina, including expanded mineralization footprints and expert validation.
• An amendment to the underlying option agreement removes the vendor’s termination right for project delays and revises the payment schedule for acquiring a 100 % interest in Esperanza.
• Moxico has reimbursed the $250,000 milestone paid in July 2025, extended its drilling commitment into 2026, and now must complete 15,000 m of drilling in 2026 with cash payments up to $2.67 M required to exercise the option.

Key Details

• Geological Progress: Expanded known mineralization north and west of previously drilled areas; systematic rock sampling, alteration mapping, and relogging of historic core completed.
• Expert Review: International porphyry specialist Dr. Richard Sillitoe confirmed multiphase mineralized intrusions and highlighted potential extensions beyond current zones.
• Environmental & Social Work: Ongoing hydrological and hydrogeological studies with Argentine research institutes; new weather stations installed across the Huerta de Huachi River basin.
• Social Baseline Study: ERS Consultora engaged to complete a social baseline study in Jachal department; local staff hired for logistics and environmental monitoring.
• Option Amendment – Vendor Rights: Removal of vendor’s right to terminate the option due to project delays.
• Payment Schedule Changes: Revised cash payment schedule (see attached Table 1) for acquiring 100 % interest in Esperanza; total cash payments up to $2.67 M.
• Milestone Reimbursement: Moxico reimbursed Latin Metals for the $250,000 U.S. milestone paid in July 2025.
• Drilling Commitment Extension: Original 2025 drilling commitment extended into 2026 with a revised target of 15,000 metres of drilling to be completed in 2026.

Notable Quotes

(No direct quotes provided in the release.)