Mr. Hector Gonzalez Ramirez reports

CANDELARIA PROVIDES UPDATE ON MCTO

Candelaria Mining Corp. is providing an update to its previously disclosed management cease trade order (MCTO), announced on Aug. 29, 2025, in respect of the audited annual financial statements and corresponding management's discussion and analysis for the year ended April 30, 2025, including the CEO (chief executive officer) and CFO (chief financial officer) certifications (collectively, the annual financial filings) that were not filed by the required filing deadline of Aug. 28, 2025.

As previously disclosed, the annual financial filings were not filed by the filing deadline due to the fact that the company's auditors require additional time to complete their audit and as a result, challenges with updating the company's accounts following the completion of the disposition of certain Mexican subsidiaries by the company.

The company is working expeditiously on the steps required to complete the annual financial filings and expects to be able to file the annual financial filings on or before Oct. 27, 2025. The company will provide updates as further information relating to the annual financial filings becomes available. Until the annual financial filings are filed, the MCTO will be in effect. Additionally, the company will issue biweekly default status reports in accordance with National Policy 12-203 -- Management Cease Trade Orders. The company intends to satisfy the provisions of the alternative intonation guidelines during the period it remains in default of the filing requirements. The company confirms that there have been no material business developments or other material information relating to its affairs as of the date of this news release that has not been generally disclosed.

We seek Safe Harbor.