Operations Updates: High-Grade Gold Results

Nativo Resources plc (LON: NTVO), which is focused on near-term gold mining and processing projects in Peru, is pleased to announce the results of a recent underground sampling campaign undertaken at the Bonanza Vein within the Bonanza Gold Mine ("Bonanza"), including the Tesoro Shaft area.

The results confirm the presence of high-grade gold mineralisation, including bonanza-grade assays, and support the Company's interpretation of a plunging high-grade ore shoot within the vein system. These results will be incorporated into the Company's ongoing underground development and mining activities, which have restarted and are underway.

Highlights

• Bonanza-grade gold confirmed with underground sampling returning up to 40.2 g/t Au,
• Multiple high-grade intercepts (>5-10 g/t Au) confirm the presence of a high-grade mineralised shoot within the Bonanza Vein system
• The Directors believe these results are consistent with historical underground assays, including 41.4 g/t Au, 27.7 g/t Au and 26.7 g/t Au, demonstrating strong grade continuity
• 147 systematic underground channel samples, newly collected in January 2026 from between 5m and 45m beneath surface, along the vein provide strong geological support for the 3D modelling
• Gold occurs predominantly in the fine fraction, suggesting standard processing routes may be suitable, potentially reducing metallurgical risk
• The Directors believe these results support the Company's selective underground mining strategy and the planned initial Mining Phase targeting high-grade shoots while minimising dilution
• Significant exploration upside remains along strike and at depth, where mineralised shoots may continue beyond currently developed underground levels

Sampling Programme

The recent underground sampling programme was undertaken within existing mine workings along the Bonanza Vein, focusing on areas surrounding the Tesoro Shaft and adjacent development levels. Samples were submitted to SGS Peru, an internationally recognised laboratory, for gold assay analysis.

The results demonstrate a strong clustering of high-grade gold values, including several samples exceeding 5 g/t Au, with a peak value of 40.2 g/t Au. Refer to Figure One: Mine Cross Section

Figure 1: To Scale schematic of the Bonanza Mine with 2026 grade results annotated

Table 1: Grade Distribution Table

These results complement historical sampling undertaken in 2024 by Minares South S.R.L., demonstrating strong grade continuity. These historical high-grade results include:

• 41.42 g/t Au
• 27.7 g/t Au
• 26.7 g/t Au
• 13.1 g/t Au

Sample assay results from the 2026 underground sample campaign Table 2 below.

Geological Interpretation

The Bonanza Vein is interpreted as a narrow but persistent structurally controlled gold-bearing vein, where mineralisation is concentrated in localised high-grade shoots or dilation zones along the structure.

The distribution of grades shows a high degree of variability, which is characteristic of narrow gold-vein systems where mineralisation is controlled by structural openings and multiple hydrothermal mineralisation events.

The grades obtained during the 2026 underground sampling campaign are consistent with historical underground sampling results from 2024 and are generally higher than grades reported in previous surface sampling campaigns.

Integration of geological mapping and analytical results indicates that mineralisation is primarily controlled by the main vein structure and associated shear zones, suggesting both lateral and vertical continuity of the mineralised system. In addition, geophysical data, from the St Elias studies in 2009 -2010, indicates that the mineralised shoots may extend to depths of up to approximately 300 metres below surface.

These observations support the Company's preliminary geological model, which interprets the deposit as a structurally controlled gold vein system located within the Nazca-Ocoña metallogenic belt.

Mine Planning Implications

The Company believes the results support the mine plan for the Bonanza Vein, which is using selective underground mining methods targeting high-grade shoots while minimising dilution, also known as "Resue Mining*".

The Tesoro Shaft area represents a priority development target where current data indicates the presence of a high-grade ore shoot. Future development will focus on following the interpreted down-plunge continuation of the mineralisation as well as testing potential additional shoots along strike.

These results will be incorporated into ongoing geological modelling and will assist in finessing the mine plan, which is currently being executed with mining operations already initiated at Bonanza.

Next Steps

The Company plans to:

• Commence production and ore sales in Q2 2026
• Continue underground development along the Bonanza Vein
• Continue channel and face sampling along the interpreted shoot plunge
• Test potential extensions of the high-grade mineralisation both down-plunge and along strike while developing the shafts and galleries
• Integrate results into updated mine planning and production scheduling
• Update the three-dimensional geological model of the Tesoro Vein
• Develop a preliminary mineral resource estimate based on the recently acquired geochemical data
• Initiate preliminary metallurgical studies to evaluate ore behaviour and optimise metal recovery

Stephen Birrell, Chief Executive Officer of Nativo, commented:

"The high-grade gold samples returned from the underground sampling campaign reinforce our confidence in the geological potential of the Bonanza Gold Mine, the structural continuity of mineralisation, and the extended mine opportunities across the Tesoro Concession.

We look forward to incorporating these results into the mine plan, enabling us to unlock the mine's potential as we progress towards the recommencement of production and ore sales."

*Resue mining is an underground selective mining technique commonly used to extract very narrow, high-grade ore veins, such as gold or polymetallic veins found in parts of Peru. It is especially useful where the ore body is only a few tens of centimetres to about 1 m thick.

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