Mr. Daniel Rodriguez reports

MERCADO MINERALS ANNOUNCES INITIAL SURFACE RESULTS FROM THE ZAMORA PROJECT, HIGHLIGHTS 1.00 METRE OF 828 G/T SILVER AT THE CAMPANILLAS VEIN

Mercado Minerals Ltd. has released initial surface sample results from the company's first reconnaissance field program at its Zamora project in Sinaloa, Mexico. The continuing program is focused on verifying historic high-grade results reported by previous operators at the Campanillas vein and expanding the known zone of mineralization along strike. Surface chip sampling returned multiple high-grade intervals, including 1.00 metre of 828 grams per tonne silver (760 g/t silver equivalent) and 1.00 metre of 410 g/t silver with 1.66 g/t gold (497 g/t AgEq).

Highlights:

• To date, a 300-metre strike length of the Campanillas vein has been mapped and sampled at surface.
• Surface sampling in 2026 has returned 2.40 metres (true width) of 528 g/t silver and 0.75 g/t gold (536 g/t AgEq), including 1.00 metre of 828 g/t silver (760 g/t AgEq) -- the highest-grade surface composite result (samples G874286, G874287 and G874288) returned to date at the Campanillas vein.
• Surface prospecting and mapping have doubled the known strike length of the Campanillas vein and encountered wider true widths of mineralized vein and wallrock compared with the underground workings.

Chief executive officer comment

Daniel Rodriguez, CEO and director, commented: "These initial surface results are highly encouraging and confirm the high-grade nature of the Campanillas vein. Grades as high as 828 g/t silver confirm the exceptional grade potential we identified at Zamora, and our sampling extends mineralization beyond the historic underground workings, pointing to a larger high-grade mineralizing system along the broader vein trend."

Campanillas vein surface chip sampling results

Detailed mapping and sampling along the exposed surface trend of the Campanillas vein has revealed a 300-metre-long segment of vein. The vein consists of massive to vuggy quartz with minor carbonate and trace occurrences of fine-grained dark sulphides and/or sulphosalts and pyrite. The vein is also coated with iron and manganese oxides. The host rock is an andesitic tuff that has moderate argillic alteration and silicification proximal to the vein. Systematic chip sampling of the vein and wallrock indicate the Campanillas vein has approximate true widths between 0.60 and 2.40 metres and grades between two and 828 g/t silver and between 0.04 and 1.66 g/t gold.

Initial field program

The company's initial field program comprised prospecting and chip sampling across surface exposures of the Campanillas vein, designed to verify historic high-grade results reported by previous operators. The company plans to extend systematic surface sampling and mapping to the remaining current concessions.

Quality assurance/quality control and chain of custody

Rock samples are chip samples. All chip samples are laid out with visual sample interval marks, across the perceived true width of the vein, before being systematically chipped into sample bags. Once bagged, samples are grouped into rice bags and secured by a locking security tag with a unique security tag identification number. Sample batches are transported from the exploration site in Zamora to a secured courier transport service vehicle provided by ALS Laboratories. The samples are delivered by ALS secured courier to their laboratory in Hermosillo for analysis.

Samples are crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. Sample splits are then pulverized to over 85 per cent passing below 75 microns. Gold determinations are completed by fire assay with an atomic absorption (AA) finish on a 30-gram subsample of the prepared pulp (Au-AA23). Any sample returning over 10 g/t gold is reanalyzed by fire assay with a gravimetric finish on a 50-gram subsample (Au-GRA21). In addition, a 34-element analysis is performed on a 0.25-gram subsample of the prepared pulps by a four-acid digestion followed by an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish (ME-ICP61). Samples that return overlimit values for silver, lead or zinc are finished by ore-grade analysis (Ag-OG62, Pb-OG62 and/or Zn-OG62).

Qualified person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and was reviewed and approved by Kelson Willms, PGeo, of Archer, Cathro & Associates (1981) Ltd. Mr. Willms is a qualified person for the purposes of National Instrument 43-101.

About Mercado Minerals Ltd.

Mercado Minerals is a silver-focused exploration company targeting the next world-class discovery in Mexico's emerging Western silver belt, part of the prolific Sierra Madre Occidental mining district. With a proven team boasting extensive experience in Mexican exploration, Mercado is actively advancing multiple projects across more than 3,000 hectares. The company is committed to creating shareholder value through disciplined exploration, strategic growth and discovery-driven results.

We seek Safe Harbor.