Mineros S.A. to Repurchase Shares in Colombia Commencing May 11, 2026

Mineros S.A. has initiated a share repurchase offer (ORA) on the Colombian Stock Exchange, scheduled to run from May 11, 2026, through May 15, 2026. This specific tranche allows for the purchase of up to $15.0 million in shares via a book-building mechanism where shareholders indicate desired selling prices. The final price is determined by the company based on market conditions and order volume. If tendered value exceeds $15.0 million, repurchases will be pro-rata. This offer is part of a broader board-authorized program totaling up to $80.0 million approved in March 2026, intended to run for three years. Payment terms involve settlement on the third business day following adjudication. The transaction occurs exclusively through the Colombian Stock Exchange and does not impact the Toronto Stock Exchange listing directly.

The share repurchase announcement is categorized as Routine - Positive. While buybacks generally signal management confidence in cash flow and undervaluation, this specific action is an execution of a previously announced $80 million program from March 27, 2026. It does not introduce new fundamental value or strategic shifts compared to the record Q1 earnings released two days prior (May 6). The $15 million tranche represents approximately 17% of the total authorized program and is a fraction of the company's current cash position ($43.6M cash equivalents + $173.1M gold-backed assets reported in Q1). Consequently, while it supports shareholder value by reducing float and signaling confidence post-earnings, it lacks the transformative potential to be classified as "Material - Game Changer" or even standalone "Material - Positive." It reinforces the financial strength demonstrated in the May 6 earnings release but is not a primary catalyst for price appreciation on its own.

Mineros S.A. is a Latin American gold producer with operations primarily in Colombia (Nechí Alluvial) and Nicaragua (Hemco Property). The company is transitioning from an alluvial-focused miner to a diversified underground and open-pit producer. * Flagship Project: Porvenir Project (Nicaragua). A polymetallic project featuring gold, silver, zinc, and copper. Recent PFS indicates robust economics with a 37.9% IRR and $460 million NPV5%. * Operating Assets: Hemco Property in Nicaragua is the current production engine, targeting throughput expansion to 2,500 tpd. Nechí Alluvial in Colombia provides steady cash flow from alluvial mining. * Development Pipeline: La Pepa Project (Chile) acquired for $40 million adds a third jurisdiction and potential future growth asset.