Mineros Advances Porvenir Project Development; Detailed Engineering Underway Following Independent Engineering Review

Mineros S.A. has entered the detailed engineering phase for its 100%-owned Porvenir polymetallic deposit in Nicaragua, following an independent engineering review of the updated 2026 Pre-Feasibility Study (PFS). The company expects to make a construction decision in early 2027, contingent on permitting progress. To de-risk the project, Mineros is actively conducting a targeted drilling campaign for mine planning and metallurgy while initiating early works on critical infrastructure where permits have already been secured.

The transition to detailed engineering follows a gap analysis conducted by a consortium of engineering firms, including BBA Inc., NCL Ingenieria y Construcción, Mining Plus, and Tanka Engineering. The Porvenir project is confirmed as a stand-alone underground operation. The broader Porvenir polymetallic district includes the Guillermina, Leticia, and San Antonio deposits, which are at an earlier evaluation stage with Mineral Resources but no NI 43-101 Mineral Reserves.

Mineros is currently undertaking targeted drilling to reduce geological uncertainty, de-risk the first three years of the underground mine plan, and support metallurgical test work for the processing plant. Simultaneously, the company is preparing early works in areas with obtained permits, focusing on critical-path infrastructure such as site accesses, preliminary earthworks, and surface platforms.

Regarding permitting status, a site visit was conducted on July 22, 2026, with representatives from MARENA, SERENA, CARENA, and the municipal mayor’s office regarding forest management approvals for tailings storage and processing facilities. Additionally, a hydrological study is being developed for an industrial water use concession from the National Water Authority (ANA). Permits are expected to be issued before the end of 2026.

“Porvenir represents a transformative asset for Mineros, and we are treating its development with the technical and financial rigor it deserves,” stated Daniel Henao, President and Chief Executive Officer. “By partnering with globally recognized engineering firms to validate our technical work, we are ensuring a seamless transition into detailed engineering.”

The updated Pre-Feasibility Study is dated March 31, 2026, and the NI 43-101 Technical Report was prepared by SLR Consulting (Canada) Ltd.