Mr. Allen Sabet reports

MOGOTES METALS ANNOUNCES ISSUANCE OF COMMON SHARES IN CONNECTION WITH OPTION AGREEMENT WITH COMPANIA MINERA DEL PACIFICO S.A

Mogotes Metals Inc. has issued 2,310,579 common shares in the capital of the company to Compania Minera del Pacifico S.A. (CMP), pursuant to the terms of the mining option and exploration contract between CMP, the company and Mogotes Metals Chile SpA, a subsidiary of the company, to satisfy a portion of the payment due to CMP within 12 months of signing of the option agreement. The common shares were issued at a price of at a price of 30.25 cents per common share, being the closing price of the common shares on the TSX Venture Exchange on the day prior to the issuance.

For more information, please refer to the news releases of the company dated Jan. 15, 2025, and Feb. 18, 2025, copies of which are available on the company's profile on SEDAR+.

About Mogotes Metals Inc.

Mogotes Metals is a mineral exploration company exploring for copper and gold in the prospective Vicuna district of Argentina and Chile. Mogotes's flagship project, Filo Sur, adjoins the large Filo del Sol copper-gold-silver discovery, and is along the same north-south-trending belt as the Filo Del Sol-Aurora and NGEx Minerals Lunahuasi and Los Helados copper-gold deposits.

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