Latin Metals' Cerro Bayo optionee completes 14 holes

Executive Summary

• Latin Metals Inc. received an update from partner Daura Gold Corp. regarding the expanded drilling program at the Cerro Bayo project in Argentina.
• Daura Gold has completed 14 diamond drill holes across 10 targets, with stepback drilling currently underway at the Ingrid, Elena, and Eugenia target areas.
• Assay results from the initial 14 holes are expected within the next four to six weeks, marking a key phase in testing the district-scale mineralized system.

Key Details

• Partner Arrangement: Daura Gold Corp. holds the right to earn up to an 80% interest in the Cerro Bayo and La Flora projects through staged cash payments and exploration expenditures; all exploration activities are fully financed by Daura.
• Drilling Progress: Following the start of drilling announced on Feb. 17, 2026, Phase 1 is well underway with 14 diamond drill holes completed across 10 targets.
• Target Areas: Drilling has advanced beyond initial target testing, with stepback holes under way at the Ingrid, Elena, and Eugenia target areas, representing distinct zones within a broader mineralized system.
• Assay Timeline: Assay results from the initial 14 drill holes are expected within the next four to six weeks.
• Project Geology: Cerro Bayo is located within the Deseado massif, a prolific epithermal precious metal district that has produced over 600 million ounces of silver and ~20 million ounces of gold since 1990.
• Technical Basis: The project hosts multiple low-sulphidation epithermal vein targets defined through geochemistry, mapping, and geophysics, consistent with high-grade deposits in the district.
• Qualified Person: Eduardo Leon, an employee of Latin Metals who holds company securities, has reviewed and approved the scientific and technical information.

Notable Quotes

• "Since announcing the start of drilling earlier this year, Daura has made excellent progress at Cerro Bayo, with multiple targets being tested and additional stepback drilling now under way. Importantly, this work is fully funded by our partner, allowing us to advance a high-quality project while maintaining capital discipline. With assays expected in the coming weeks, we are entering a key phase of the program and look forward to reporting results as they become available." — Keith Henderson, President and CEO, Latin Metals Inc.