Mercado Minerals Announces Initiation of Inaugural Field Exploration Program at Copalito

Executive Summary

• Mercado Minerals announced the start of its first field exploration program at the Copalito Project in Sinaloa, Mexico.
• The program will cover detailed mapping, prospecting and re‑sampling/re‑logging of historic drill core across ~40 % of the project area.
• The company remains on track to begin a 3,000‑metre Phase 1 diamond drilling campaign in Q1 2026 targeting known veins and new areas.

Key Details

• Program Scope: Detailed geological mapping and prospecting over approximately 40 % of the Copalito Project, which has not previously undergone systematic grassroots exploration.
• Historical Intercepts (for reference):
• BDH‑20‑004 (5 Señores vein) – 347 g/t Ag, 0.22 g/t Au, 0.17 % Pb, 0.38 % Zn over 13.10 m from 54.00 m.
• BDH‑21‑055 (El Agua vein) – 125 g/t Ag, 2.00 g/t Au, 0.34 % Pb, 0.58 % Zn over 23.00 m from 78.00 m.
• Re‑sampling & Re‑logging: Selected intervals of historic drill core will be re‑logged and re‑sampled to align data with the company’s internal standards and verify previous results.
• Logistics Preparation: Securing drill pad access, water sources, power, drilling contractors and other infrastructure needed for the upcoming 3,000 m Phase 1 drill program.
• Target Refinement: Ongoing review of field data and integration with geophysical surveys to refine high‑potential drill targets.
• Qualified Person Review: Technical information reviewed and approved by Kelson Willms, P.Geo., Archer, Cathro & Associates (1981) Ltd.; historic drill results are treated as historical and not relied upon until independently verified on site in 2026.

Notable Quotes

“Today marks the start of the exploration work that will lead us to drilling at Copalito… We remain on track to begin our first‑phase, 3000 metre drill program in Q1… Our goal is to demonstrate the potential of the known veins at depth and along strike, while also testing new areas that have yet to be explored at Copalito.” – Daniel Rodriguez, CEO & Director

Materiality Assessment: Non‑Material – Positive (operational progress without immediate financial impact).