Indiana Project Exploration Update

GALANTAS GOLD INTERSECTS 11.84 G/T AuEq OVER 1.48 METERS IN NEW STRUCTURE, IDENTIFIES BROAD NORTH-SOUTH MINERALIZED TREND AND PRIORITIZES EXPLORATION AT INDIANA PROJECT

HIGHLIGHTS

High-grade gold-copper in new structures outside the current MRE, including 1.48 m at 11.84 g/t AuEq (10.3 g/t Au, 1.4% Cu) (hole IN26004), 1.7 m at 7.74 g/t AuEq (2.16 g/t Au, 5.2% Cu) (hole IN26005), and 1.0 m at 5.53 g/t AuEq (4.67 g/t Au, 0.9% Cu), including 0.5 m at 9.79 g/t AuEq (hole IN26006).

New north-south mineralized trend: a newly exposed structure in the Bondadosa access ramp is at least 5 m wide with visible pyrite and chalcopyrite (assays pending), and trenching across the Zeus structural system revealed up to 20 m of gold-copper mineralization at 0.40 g/t AuEq (Trench 2). The recognition of broad zones of mineralization associated with newly identified north-south trending structures both in surface trenches and underground may add several new targets and highlights the broader exploration potential of the Indiana project.

New styles of mineralization at Indiana: Newly identified disseminated sulphides, disseminated molybdenite in intrusive rock and hypogene chalcocite-bornite, which may indicate a higher-temperature, vertically zoned system (reported in news release dated August 10, 2026). The significance of this style of mineralization is being evaluated and may lead to modification and expansion of the exploration target concept(s) at Indiana.

Exploration strategy: The Company will complete its expanded 12,500 m program to further evaluate the potential of these additional new mineralized structures identified and the potential for bulk mineralization before making a production decision at Indiana. Completion of the Preliminary Economic Assessment (“PEA”) will be deferred to incorporate the drill results of this program into an updated MRE and to provide the exploration team time to evaluate the project.

Mario Stifano, the Company’s CEO, commented: “We are very encouraged by these initial exploration results at Indiana. Every drill hole reported today returned mineralized intersections, and most of them are in new structures outside the current MRE. The results confirm our belief that Indiana is a fertile area for the discovery of additional gold-copper mineralization and expansion potential of the current MRE. The broad zones of mineralization associated with north-south structures may represent a new bulk-mineable target concept. In light of these promising exploration opportunities, the Company is modifying its approach to advancing Indiana. Rather than prioritizing short-term production, the Company will be focusing on exploration both from surface and underground to fully understand what appears to be a significantly different mineral deposit than was previously identified. The PEA that was underway is being deferred pending further exploration results. The underground exploration development at Bondadosa and Flor de Espino veins will continue and the mineralized material extracted will be treated at the processing plant leased by the Company in Copiapó.”

Drill Program

The drill program at Indiana is designed to test for extensions of known mineralization along strike and down-dip at the Bondadosa and Flor de Espino veins, test for new mineralized structures not exposed at surface, test for high-grade mineralization at structural intersections, and provide confirmatory and geotechnical information for mine design. Surface and underground channel sampling is being completed to determine grades of newly exposed structures in trenches and in new underground development on the Flor de Espino and Bondadosa veins.

Exploration to date has extended mineralization and confirmed expected widths and grades for the Bondadosa and northwest-southeast Flor de Espino structures, and has also identified new, parallel mineralized structures with these orientations. For example, at the Bondadosa access ramp that is being developed, a new north-south trending structure was identified, which is at least 5 m wide with visible pyrite and chalcopyrite (assays are pending). As is typical of vein deposits, veins pinch and swell in width and grades can vary over short distances. In three of the reported six drill holes, the targeted vein was intersected but did not return significant grade, consistent with this pinch-and-swell character.

In addition, exploration has also discovered north-south mineralized structures, not previously recognized, which appear to host mineralization over significantly broader widths than the previously identified structures. These structures have been identified both at surface and underground and are now a priority for follow-up exploration.

A summary of the drill results is shown in the table below (assays > 1.0 g/t AuEq are reported), which also indicates if the intersection is within or outside of the current MRE. Gold equivalent (AuEq) is calculated using the same parameters as the current MRE: gold price of US$3,200/oz, copper price US$4.70/lb., and recoveries of 85% Au and 90% Cu for sulphides and 80% Au and 75% Cu for oxides (Refer to the Technical Report titled “Mineral Resource Estimate Indiana Project, Atacama Region, Chile” prepared by DRA Americas Inc., dated December 31, 2025).

The four intersections of the Bondadosa and Flor de Espino veins which did not give significant assays are included in this tabulation.

Note: Widths are reported as drilled and do not represent true widths, which are not yet known.

Figure 1. Plan view of the drill holes completed to date. Reported holes are highlighted in yellow.

Underground Flor de Espino Channel Samples

A total of 80 channel samples have been collected from the Flor de Espino ramp. All assays have been received and values above 1.0 g/t AuEq are summarized below. Sample locations are shown in Figure 2.

Flor de Espino vein: 5.0 m at 1.2 g/t Au and 0.279% Cu (1.49 g/t AuEq), including 1.1 m at 2.36 g/t Au and 0.5% Cu (2.89 g/t AuEq)

Flor de Espino vein: 1.4 m at 2.62 g/t Au and 0.429% Cu (3.08 g/t AuEq)

New structure: 0.8 m at 1.70 g/t Au and 0.495% Cu (2.23 g/t AuEq)

New structure: 0.5 m at 5.46 g/t Au 0.35% Cu (5.83 g/t AuEq)

Figure 2. Plan view of the Flor de Espino ramp showing the results of the channel sampling.

Zeus Structural System Trench Samples

The newly identified north-south Zeus zone represents a major structural feature identified across four trenches (Figure 3). Assays from the 290 channel samples collected have been received. Broad zones of up to 20 m wide of gold and copper mineralization have been identified with grades of up to 3.07 g/t AuEq over 0.7 m, establishing the Zeus structure as a priority target for further exploration.

Trench 1: 118 channel samples; no significant gold or copper values.

Trench 2: 92 channel samples; 20 m at 0.26 g/t Au and 0.13% Cu (0.40 g/t AuEq), including 0.8 m at 0.98 g/t Au and 0.5% Cu (1.51 g/t AuEq) and 0.9 m at 0.75 g/t Au and 0.48% Cu (1.26 g/t AuEq).

Trench 3: 24 channel samples; 4.5 m at 0.55 g/t Au and 0.22% Cu (0.78 g/t AuEq), including 0.7 m at 2.27 g/t Au and 0.75% Cu (3.07 g/t AuEq).

Trench 4: 56 channel samples; 10 m at 0.28 g/t Au and 0.11% Cu (0.40 g/t AuEq), including 0.5 m at 0.63 g/t Au and 0.24% Cu (0.89 g/t AuEq), and 0.5 m at 0.67 g/t Au and 0.18% Cu (0.84 g/t AuEq).

Figure 3. Plan view of the trench sample locations in Zeus N-S Structural System.

Sampling and QA/QC

Drill core was logged, split, and sampled at site by Company personnel. Samples were submitted to Bureau Veritas, a certified Laboratory in Santiago, Chile. Samples were analyzed using Fire Assay-Atomic Absorption for gold, with gravimetric assay for samples exceeding 5 g/t Au; Atomic Absorption for total copper and total silver; and 36-element ICP-OES using total digestion (4-acid digestion). The Company’s analytical protocol includes appropriate QA/QC procedures including insertion of certified standards, blanks, and duplicates.

Qualified Person

Scientific and technical disclosures in this news release have been reviewed and approved by Mr. Dorian L. (Dusty) Nicol (P. Geo., Chartered Geo., FAusIMM), the Company’s Senior Vice President Exploration, who is considered, by virtue of his education, experience and professional association, a “qualified person” as defined by National Instrument 43-101 and the AIM Rules for Companies.