Mr. Carl Hansen reports

TOTORA CU/AU PROJECT REVERSE CIRCULATION DRILLING COMPLETED AND DIAMOND DRILL RIG BEING MOBILIZED

The phase 1 reverse circulation (RC) drilling program on Aterra Metals Inc.'s Totora Cu/Au project has been completed with 1,575 metres (m) drilled. A few of the RC holes were stopped early when water inflow began to impact sample collection, however, these holes will be extended by diamond drilling to the target depths (see Table 1). A diamond drill rig is scheduled to be mobilized within a week.

At the primary Totora Cu/Au porphyry target, RC drilling confirmed the presence of an altered quartz diorite with locally disseminated pyrite and chalcopyrite associated with quartz veining and moderate to strong potassic (sericite, biotite, plus or minus magnetite) alteration. The mineralogy and alteration are similar to that observed in the historical drill core from the Totora porphyry. See the Aterra press release dated Feb. 3, 2026, for further information on the historical drilling results from the Totora project.

Two kilometres south of the Totora porphyry, two shallow drill holes tested the continuity of the Algarrobilla porphyry mineralization between 100-metre spaced historical drill holes. Sulphide mineralization (primarily pyrite and chalcopyrite) was observed in both drill holes. The two RC holes did not reach the planned depths and a decision as to whether to extend both drill holes will be made upon receipt of assays.

Commenting on the drill program, Carl Hansen, chief executive officer of Aterra, stated: "Other than encountering more water than anticipated, the RC drill program progressed quickly and safely. While the amount of RC drilling was reduced due to the water, this reduction will be offset by an increased amount of diamond drilling. All samples from the RC program have been shipped to the lab for assaying. It is anticipated that we'll start to receive assay results within a couple of weeks and results will be released shortly thereafter."

NI 43-101 disclosure

Qualified person: As defined by National Instrument 43-101 of the Canadian Securities Administrators, the qualified person for Aterra Metals is Francisco Bravo, a resident of Santiago, Chile. As Aterra's chief geologist, Mr. Bravo is considered not independent as the term is defined by NI 43-101. Mr. Bravo, a public registered person for Reserves and Resources Ndegree 515, in Chile, and registered in the Colegio de Geologos de Chile under N degree 725, has reviewed and approved the technical information contained in this press release.

Copper equivalent estimation: Copper equivalent (CuEq) grades were estimated using a copper price of $4.00 (U.S.) per pound and a gold price of $3,500 (U.S.) per ounce ($112.53 (U.S.) per gram). CuEq grades are estimated using the following formula: CuEq per cent equals ((Au grade multiplied by 0.85 multiplied by 112.53) divided by 4.00 divided by 2,204.6)) multiplied by 100 plus (Cu grade multiplied by 0.85).

Regulatory requirements for disclosure of CuEq grade estimates require an estimation of metallurgical recoveries in the situation where no metallurgical testwork has been completed. Aterra estimates copper recoveries of 85 per cent and gold recoveries of 85 per cent. It is important to note the actual recoveries will likely vary from those used in the estimation of the CuEq grades.

Historical results: Aterra has not undertaken any independent investigation of any historical results from the Totora project nor has it verified the underlying technical basis for the historical resources and drilling results. The reader is cautioned against relying on the accuracy of the historical results presented; however, Aterra considers all historical results relevant as those results will be used as a guide to plan future exploration programs: Aterra considers the data to be reliable for these purposes.

About Aterra Metals Inc.

Aterra is a mineral exploration company focused on exploration opportunities in Chile. Aterra's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.

We seek Safe Harbor.