Mr. Rob L'Heureux reports

METALERO ACQUIRES BOLIVIAN CONCESSIONS NEXT TO LARGE SILVER PRODUCER

Metalero Mining Corp. has applied for three mineral concessions covering approximately 230 square kilometres (or 23,000 hectares) in western Bolivia. Two of the concessions, forming Metalero's San Cristobal East project, are adjacent to the San Cristobal silver-lead-zinc mine. The third concession forms the San Cristobal South project and is adjacent to San Cristobal Mining's Isidorito silver prospect. The SCE and SCS projects overly the same regional geology and large-scale structures as the San Cristobal mine, and the Isidorito, Pulacayo-Paca and Cosuno silver deposits/prospects.

"It's an amazing opportunity to acquire a large land package immediately adjacent to one of the largest silver producers on the globe (San Cristobal). While they are expanding their operations through aggressive exploration," stated Rob L'Heureux, president and chief executive officer of Metalero Mining, "extension of the regional geology makes SCE and SCS the exact type of opportunity that got us so excited about Bolivia. It's important to understand that Metalero is just getting started. We are diligently pursuing additional projects and properties. Exploration crews will mobilize to SCE and SCS in June, and we'll secure airborne geophysical surveys of our projects as soon as possible."

Exploration potential and work plans

The deposits/prospects of San Cristobal, Isidorito, Pulacayo-Paca and Cosuno lie along a series of regional structures herein referred to as the Uyuni fault system. This fault system has played a role in the regional geological orientation and the emplacement of the mineralizing intrusions which have produced these projects.

Metalero's SCE and SCS projects are strategically located along the UFS and lie within five and six kilometres of the San Cristobal mine and the Isidorito project, respectively. Exploration in the region has typically been focused on the historical mining areas, which date back hundreds of years, where outcropping mineralization was evident and easily exploited. With a highly prospective geological set-up and no known historical exploration on SCE or SCS, Metalero will undertake the first modern exploration on these projects to further build upon the region's recent successes.

Metalero's exploration crews will mobilize shortly to both projects for rock and soil sampling, mapping, and possible ground geophysical surveys. An airborne geophysical survey will be planned to help Metalero personnel trace the geology, Uyuni fault system, and search for evidence of mineralization and hydrothermal alteration across the project lands. Conductivity and chargeability anomalies coupled with magnetic lows due to magnetite destruction could indicate zones of alteration and sulphide enrichment for on-the-ground targeting for prospecting, sampling and other ground surveys.

San Cristobal mining -- production and exploration highlights*:

• Producing silver, lead and zinc since August, 2007;
• Currently producing approximately 38 million silver equivalent ounces per year with all-in production costs of approximately $17 (U.S.) per ounce (silver equivalent) (Quinton Hennigh -- Swiss Resource Capital AG interview, Nov. 18, 2025);
• Aggressive exploration with up to 14 drill rigs over the past two years has yielded 12 or 13 years of additional sulphide ore with the potential to expand out 25 years to 2050 (Mr. Hennigh -- Metals Investor Forum, Jan. 28, 2026);
• Potential future development of stockpiled oxide ore containing approximately 200 million ounces of silver for an additional 12- to 13-year mine life (Mr. Hennigh -- Metals Investor Forum, Jan. 28, 2026);
• Exploration with 10 drill rigs at the Isidorito prospect 40 kilometres south of the San Cristobal mine (Mr. Hennigh -- PDAC presentation -- March 3, 2026).

Other significant projects in the region*

Approximately 100 km to the north of SCE and SCS are the Cosuno and Pulacayo-Paca silver deposits. These deposits sit close to the Uyuni fault system and are hosted within volcanic centres similar to the San Cristobal mine. The San Vicente mine is 80 km east of SCE and SCS in a geological setting very similar to the San Cristobal mine, including regional structures and a volcanic centre.

Pulacayo-Paca silver project:

• National Instrument 43-101-compliant indicated mineral resource of 48.04 million tonnes grading 69 grams per tonne silver, 0.69 per cent lead and 1.37 per cent zinc for a total metal content of 107 million ounces of silver, 1.4 billion pounds of zinc and 700 million pounds of lead (Oct. 13, 2020, press release);
• Nearly three million ounces of silver production between 2024 and 2026 (April 27, 2026, investor presentation);
• Drill hole PND 110 -- 1,085 grams per tonne silver over 12 metres (April 27, 2026, investor presentation);
• Drill hole PND 62 -- 574 g/t Ag over 27 metres (April 27, 2026, investor presentation).

Cosuno project:

• Surface rock sampling up to 1,035 g/t Ag (2026 investor presentation);
• Recent drilling intercepts highlighted by 38 metres of 116 g/t Ag, including five metres of 600 g/t Ag, in a 2.7-kilometre-long mineralized corridor (Feb. 27, 2026, press release).

San Vicente:

• Almost three billion ounces of silver produced, with zinc, copper and lead;
• All-in sustaining costs of $21.77 (U.S.) per ounce.

* The information concerning adjacent properties and mineralization is provided solely for informational purposes and should not be construed as a guarantee of mineral presence, quality or economic viability. While efforts have been made to provide accurate and up-to-date information, mineralization can vary significantly between properties and may not be indicative of similar conditions on Metalero's properties. Neither Metalero nor the QP has visited these adjacent properties and has not verified the information presented.

San Cristobal regional background

The San Cristobal region lies in the Potosi department of southwestern Bolivia along the borders with Chile and Argentina. This area is dominated by the Andes Mountain range and the Altiplano basin. The Andes formed through long-term plate subduction along the west coast of South America with consequent intense folding, faulting and magmatic activity. This tectonic activity led to the formation of prolific silver, lead, zinc and tin deposits in this region of Bolivia hosted in younger rocks less than 23 million years old. The Altiplano basin is a high-elevation sedimentary trough spanning the vast Altiplano plateau between two ranges of the Andes and hosts over 75 per cent of the world's lithium in high-concentration salt flats.

About Metalero Mining Corp.

Metalero is a Canadian-based junior exploration company focused on copper, silver and gold projects in the Americas including continuing acquisitions in Bolivia. Its 173-square-kilometre, road-accessible Benson project in Northern British Columbia has served as Metalero's flagship and is host to five prospects containing copper and gold within porphyry-related mineralized systems.

Qualified person

The technical content of this news release was reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, a non-independent qualified person as defined by National Instrument 43-101.

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