Mexican Gold Mining Corp. to Effect Share Consolidation and Name Change and Announces Closing of $2,299,000 Subscription Receipt Financing

Mexican Gold Mining Corp. announced the closing of a non-brokered private placement of 11,495,000 subscription receipts at $0.20 per unit, raising $2,299,000 in gross proceeds. The company anticipates closing a court-approved plan of arrangement to acquire 100% of Alcon Silver Corp. on or about July 16, 2026. A 1.6667-for-one share consolidation will occur simultaneously with the arrangement, triggering a corporate name change to Platauro Metals Corp. Trading under the new ticker "PURO" is expected to commence around July 20, 2026.

Proceeds will fund exploration of the Princesa project, the Rowdy claim at Tatatila, legal fees for the Las Minas claims dispute, and general working capital. CEO Jack Campbell subscribed for 300,000 subscription receipts in a related-party transaction exempt from formal valuation requirements. Each subscription receipt will convert into one post-consolidation common share and 0.5 common share purchase warrant exercisable at $0.30 for 30 months post-arrangement.

Mexican Gold Mining Corp. (MEX) closed a $2.3 million financing, an expected administrative follow-up to its June 15, 2026 announcement that contained no new market-moving information. The transaction also included a share consolidation and name change, which are mechanical steps tied to the Alcon Silver acquisition already priced into the stock following the April 2026 arrangement announcement.

While the deal introduces dilution, it was fully disclosed and anticipated. The capital raise provides necessary liquidity for exploration and legal costs but does not alter the company's speculative, pre-revenue status. The news confirms funding availability and advances the M&A timeline without introducing unexpected terms or valuation changes.

Mexican Gold Mining Corp. is a precious metals exploration company focused on the Veracruz state region of Mexico. Its flagship asset is the Las Minas Project, which holds NI 43-101 resource reports indicating 443,000 oz AuEq Indicated at 3.34 g/t and 361,000 oz AuEq Inferred at 2.16 g/t. A Preliminary Economic Assessment (PEA) indicates a 35% after-tax IRR at $2,000/oz gold.

The company recently acquired 100% of the Tatatila Project, comprising 3,824 hectares, from Chesapeake Gold Corp. for approximately 4.45 million shares and a 1.5% net smelter return (NSR) royalty. Additionally, Mexican Gold Mining Corp. plans to acquire Alcon Silver Corp., which holds the Princesa Project with a historical resource of 4.6 million tonnes at 90.88 g/t Ag, 1.66% Pb, and 1.69% Zn. Following the transaction, the entity will operate as Platauro Metals Corp., combining gold and silver assets into a diversified exploration platform.