Mexican Gold Mining Corp. and Alcon Silver Corp. Announce Arrangement Agreement to Create a Diversified Precious Metals Exploration Company

• Mexican Gold Mining Corp. (MEX) will acquire 100 % of Alcon Silver Corp. via a court‑approved plan of arrangement.
• Post‑transaction, former Alcon shareholders will own ~61 % of the combined entity on a non‑diluted basis; the new company will be renamed Platauro Metals Corp.
• The deal includes:
• A concurrent private placement for up to US$2 million (subscription receipts convertible into units).
• Automatic conversion of Alcon’s outstanding convertible debentures into common shares at CAD $0.25 per share.
• Share consolidation on a 1.6667‑for‑1 basis for Mexican Gold shares.
• Closing conditions: ≥66⅔ % shareholder approval (expected ≤June 15, 2026), TSX‑V conditional approval, and an outside date of August 31, 2026 (extendable 60 business days).
• Asset rationale:
• Las Minas Project (Mexican Gold) – NI 43‑101 resource: 443 k AuEq oz Indicated @ 3.34 g/t AuEq; 361 k AuEq oz Inferred @ 2.16 g/t AuEq; PEA IRR 35 % at US$2,000/oz gold.
• Princesa Project (Alcon) – historic resource: 4.6 Mt @ 90.88 g/t Ag, 1.66 % Pb, 1.69 % Zn (limited drilling).
• Management and board composition remain unchanged; the combined board will include Jack Campbell, Dr. John Larson, Bruce Winfield, Nathan Lavertu.

Aspect	Assessment
Scale of transaction	The merger creates a diversified precious‑metals platform with two adjacent projects in Veracruz, substantially increasing the company’s asset base and potential cash‑flow generation.
Financing	A $2 M private placement adds liquidity, reducing near‑term capital‑raising risk. Existing cash (≈ C$0.64 M) plus financing improves runway into 2027.
Shareholder dilution	Share consolidation and issuance of consideration shares will dilute existing MEX shareholders but is offset by Alcon owners receiving a majority stake; the net effect is a larger, more valuable enterprise.
Regulatory risk	Requires >66⅔ % shareholder approval and TSX‑V consent – both historically achievable for similar transactions in this sector. The August 31 deadline provides ample time.
Project economics	Las Minas already has a robust NI 43‑101 resource with a 35 % after‑tax IRR; the addition of Princesa adds silver, lead and zinc upside, diversifying revenue streams.
Market perception	The market had not priced in a combined entity; the announcement is likely to be viewed positively, especially given the cash infusion and clear path to development.

Overall, the news delivers new, material value‑creating assets and financing that were not previously reflected in the share price.

• Mexican Gold Mining Corp. – a TSX‑V listed junior focused on exploration in Veracruz, Mexico.
• Flagship asset: Las Minas Project, a gold‑centric deposit with NI 43‑101 resources (≈ 800 k AuEq oz total) and a PEA indicating a 35 % after‑tax IRR at US$2,000/oz gold. The project is in advanced exploration, with permitting underway.
• Newly added asset: Princesa Project (Alcon), a historic silver‑lead‑zinc resource offering diversification.