Mogotes Metals Inc. Expands Exploration Plans for Copper Projects

Mogotes Metals Inc. has outlined its exploration plans for the next 12 months at its Filo Sur project in Argentina and Chile, its Beskauga project in Kazakhstan, and its Copper Cliff project in Montana, USA. The company has also released an updated corporate presentation ahead of the Precious Metals Summit Beaver Creek.

At its Filo Sur project, Mogotes plans up to 20,000 metres of drilling in the 2026-2027 season, more than three times the 6,208 metres drilled in the previous season. Drilling is expected to restart in November 2026, subject to weather and site access. The program is focused on four key areas: the Albor discovery, the Cruz del Sur gold-copper porphyry, the Luz del Sol, Cuenca, and Meseta targets, and the reconnaissance drilling along the Macho Muerto Fault Zone (MMFZ).

The Filo Sur project is located along the same north-south trending belt as the Filo del Sol-Aurora deposits and NGEx Minerals' Lunahuasi and Los Helados copper-gold deposits. Mogotes plans to extend the high-grade breccia discovery at the Albor area and test the porphyry target beneath the high-grade breccia. The company also aims to expand the gold-copper porphyry at the Cruz del Sur area, and conduct first porphyry tests at Cuenca and follow up on a new target at Luz del Sol, with the completion of the drill test at the Meseta area.

At its Beskauga project in Kazakhstan, Mogotes has started drilling and plans to continue up to 50,000 metres of drilling until winter weather sets in. The company expects first assay results from the current program in the fourth quarter of 2026. Mogotes holds an option to acquire 100% of Beskauga, and the preliminary economic assessment and pre-feasibility study are expected within 12 months.

At Copper Cliff in Montana, Mogotes plans 8,000 to 9,000 metres of drilling, with the earliest possible start in November 2026. Permitting is pending, and work is ongoing in this regard. Mogotes may earn a 51% interest in the project by funding US$16 million of exploration expenditure over three years. The Copper Cliff project is held under an option to enter a joint venture with Kennecott Exploration Company, a subsidiary of Rio Tinto.

Mogotes has also updated its corporate presentation for the Precious Metals Summit Beaver Creek, which sets out the results of the 2025-2026 Filo Sur season and the work planned across all three projects over the next 12 months. The presentation is available on DocSend and on the Company's website at mogotesmetals.com.

Additionally, Mogotes has clarified certain disclosure in its press release of August 27, 2026. The exercise of pre-emptive rights constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 as insiders of the Company purchased an aggregate of 5,503,323 common shares pursuant to the placement. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the placement by the insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the placement, which the Company deems reasonable in the circumstances in order to complete the Placement in an expeditious manner.

Mogotes Metals Inc. is a mineral exploration company focused on copper, gold, and silver in the prospective Vicuña district of Argentina and Chile. The Company's flagship Filo Sur project adjoins Lundin Mining's Filo del Sol - one of the world's largest copper-gold-silver discoveries. Mogotes Metals Inc. is headquartered in Toronto, Ontario. The company's exploration activities are categorized under the energy-environment desk.