Mr. Jack Campbell reports

PLATAURO METALS CORP. - STAR PROJECT, UTAH

Platauro Metals Corp.'s wholly owned subsidiary, Alcon Silver Corp., is party to an option agreement dated effective Sept. 1, 2025 (effective date), with Western Property Holdings LLC (the optionor), which was amended by a first amending agreement dated Jan. 20, 2026. Under the option agreement Alcon has a sole and exclusive right and option to acquire an undivided 100-per-cent interest in and to certain unpatented lode mining claims situated in Beaver county, Utah, known as the Star property subject to the optionor retaining a 2.0-per-cent net smelter returns royalty (NSR). The company, Alcon and the optionor have agreed to enter into an amendment to the option agreement in order to amongst other things, amend the balance of the cash payments, share issuances and expenditure commitments remaining to be satisfied thereunder by Alcon, and provide that the common shares remaining issuable to the optionor be issued by the company.

Under the second amending agreement, subject to TSX Venture Exchange acceptance, the company has agreed to issue to the optionor up to a total of two million common shares in the capital of the company, as follows:

1. 500,000 shares on or before Sept. 30, 2026;
2. An additional 500,000 shares on or before the second anniversary of the effective date of the option agreement;
3. An additional one million shares on or before the third anniversary of the effective date of the option agreement.

Under the option agreement, Alcon also agreed to make cash payments in the total amount of $200,000 (U.S.) to the optionor, of which the initial $15,000 (U.S.) payment was made within six months of the effective date. Pursuant to the second amending agreement, the company made the second payment of $25,000 (U.S.) to the optionor, on behalf of Alcon, which was due and payable on the first anniversary of the effective date. The balance of cash payments due to the optionor by Alcon are:

1. $50,000 (U.S.) shares on or before the second anniversary of the effective date;
2. An additional $110,000 (U.S.) on or before the third anniversary of the effective date.

Pursuant to the second amending agreement, the following minimum exploration expenditures of at least $1-million (U.S.) are required to be made by Alcon on the property in the aggregate, as follows:

1. $300,000 (U.S.) in expenditures on or before the second anniversary of the effective date;
2. The final $700,000 (U.S.) in expenditures on or before the third anniversary of the effective date.

The company does not become a party to the option agreement and does not assume any obligation, covenant or liability of Alcon thereunder, and the obligation of the company to issue shares to the optionor arises only in respect of a tranche of shares which Alcon has elected to satisfy.

Each tranche of issuance of shares issued under the second amending agreement shall be subject to subject the acceptance of the TSX-V and shall be issued at the deemed price per share accepted by the TSX-V in respect of that tranche, to be determined in accordance with the policies of the TSX-V in effect at the time of issuance. All securities issued pursuant to the amending agreement shall be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

About Platauro Metals Corp.

Platauro Metals is a precious metals exploration company focused on advancing high-quality gold and silver projects with significant resource growth potential across the Americas. The company's portfolio includes the Princesa silver project, the Las Minas gold-copper project and the district-scale Star project, providing exposure to both resource expansion and new discovery opportunities.

We seek Safe Harbor.