Mr. Victor Feng reports

AURO METALS INTERSECTS 705.7M GRADING 0.61 G/T GOLD, INCLUDING 235M GRADING 0.97 G/T GOLD STARTING FROM SURFACE AT THE SANTA BARBARA GOLD-COPPER PROJECT, ECUADOR

Auro Metals Inc. has released the assay results of the first three drill holes from the 2026 phase I drill program at its 100-per-cent-owned Santa Barbara gold-copper project, located in the Zamora-Chinchipe province in southeastern Ecuador. The drill program commenced on April 14, 2026 (please refer to the company's news release dated May 19, 2026). To date, 12 holes have been completed and assay results for the first three have been received.

Summary of drill results

All three holes were drilled at the southern part of the known mineralized porphyry system of the project (Santa Barbara South), which is believed to be the core area of the known porphyry mineralization system. The purpose of drilling these holes was to test the continuity of mineralization between historical drill intercepts and the extension of mineralization in updip and downdip directions. Results of the drilling are as follows:

• Drill hole DSB-54 intersected 705.7 metres (m) grading 0.61 gram per tonne (g/t) gold (Au) and 0.1 per cent copper (Cu), from surface, including:
  • 235 m grading 0.97 g/t Au and 0.11 per cent Cu from surface;
  • This drill hole is fully mineralized and ended in mineralization.
• Drill hole DSB-55 intersected 246 m grading 0.56 g/t Au and 0.09 per cent Cu, from surface, including:
  • 155.5 m grading 0.73 g/t Au and 0.11 per cent Cu, from 31.5 m.
• Drill hole DSB-56 intersected 134 m grading 0.67 g/t Au and 0.09 per cent Cu from surface, and 24 m grading 0.89 g/t Au and 0.07 per cent Cu from 164.5 m.

All three holes intersected wide mineralization starting from surface and a summary of drill intercepts are presented in table 1. The drill results indicate mineralization is open in both updip and downdip directions, also demonstrating good consistency of gold-copper grades. Specifications of completed drill holes are provided in table 2.

"These first three holes drilled at Santa Barbara South from our phase I drill program speak to the scale and consistency of the project," said Victor Feng, chief executive officer of Auro. "DSB-54 intersected over 700 metres of continuous gold-copper mineralization starting from surface and ended in mineralization at depth. DSB-55 and DSB-56 both confirm that mineralization remains open in the updip direction towards surface. With nine more holes pending assays and four rigs turning at site, we look forward to continuing to share assay results as they become available. Following the phase I drill program, we plan to dovetail into a planned phase II drill program designed to continue expanding the known system and to test new targets nearby."

Description of holes

Hole DSB-54 was drilled at the northern portion of Santa Barbara South to a depth of 705.7 m, and intersected 705.7 m (from 0.00 m to 705.7 m at the end of hole) grading 0.61 g/t Au and 0.10 per cent Cu, including 235 m (from 0.00 m to 235.0 m) grading 0.97 g/t Au and 0.11 per cent Cu. Gold-copper mineralization starts from surface and continues until the end of the hole.

The dominant lithology intersected in this hole is aphanitic basaltic andesite, which is cut by intrusive diorite dikes with or without porphyritic texture. Both rock types are strongly altered with potassic alteration featured by secondary biotite in patches and along fractures, and alterations with sericite, chlorite and epidote. Quartz veining (A and B types) is common, cutting both basaltic andesite and intrusive diorite dikes. Mineralization is characterized by pyrite and chalcopyrite in forms of both dissemination and narrow veinlets and threads. Higher-grade mineralization is mostly hosted in basaltic andesite associated with abundant quartz veining in the vicinity of intrusive diorite dikes.

Hole DSB-55 was drilled 100 m to the southeast of DSB-54 and about 150 m in the updip direction of the historical hole DSB-18. The hole has a length of 285.5 m, and intersected an interval of 246 m grading 0.56 g/t Au and 0.09 per cent Cu from surface to a depth of 246 m, including a higher-grade interval of 155.5 m from 31.5 m to 187 m. Drill results from this hole indicate gold-copper mineralization is open in the updip direction to surface.

Lithology in the hole is mainly intrusive diorite, which extends from surface to a depth of 243 m and farther downward, dominated by a jasperoid horizon, which is the result of hydrothermal alteration. Gold-copper mineralization is concentrated in the upper diorite, but little in the lower jasperoid, characterized by disseminated pyrite and chalcopyrite plus minor small veinlets locally. Typical alteration includes secondary biotite and sericite, and quartz veining is common throughout the mineralized interval.

Hole DSB-56 was drilled around 60 m in the updip direction of historical hole DSB-05, on the same cross-section of DSB-54. The hole has a length of 274.85 m, and intersected 134 m grading 0.67 g/t Au and 0.09 per cent Cu from zero m to 134 m, and 24 m grading 0.89 g/t Au and 0.09 per cent Cu from 164.5 m to 188.5 m. The drill results of this hole indicate mineralization is open in the updip direction to surface.

The lithology intersected in DSB-56 is dominated by intrusive diorite, starting from surface to a depth of 198 m, and farther downward to the end of the hole is a jasperoid horizon. Gold-copper mineralization is well developed in the diorite, but not in the jasperoid, characterized by disseminated pyrite and chalcopyrite plus minor small veinlets locally. Typical alteration includes secondary biotite and sericite, and quartz veining is common throughout the mineralized interval.

Quality assurance and quality control

All samples in respect of the exploration program at the project discussed in this news release were shipped in securely sealed bags by a chartered commercial truck, directly from the field to the sample preparation facilities of SGS in Guayaquil, Ecuador, for preparation and to SGS in Lima, Peru, for geochemical analysis. SGS is a global leader in inspection, verification, testing and certification. It is an ISO/IEC 17025-accredited laboratory independent from Auro. All samples go through fire assay (SGS code FAA313) for gold and multiacid digestion ICP-AES (inductively coupled plasma atomic emission spectroscopy) multielement assay (SGS code ICP40B) for other elements. Certified reference materials, various types of blank samples and duplicate samples are inserted into normal drill core sample sequences prior to delivery to laboratory for preparation and analysis. The overall ratio of quality control samples in sample sequences is around 20 per cent.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Alex Zhang, PGeo, a director of the company, who is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects. The qualified person has verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect reliability or confidence in the information discussed herein.

About Auro Metals Inc.

Auro Metals is a mineral exploration company that holds a 100-per-cent interest in the Santa Barbara gold-copper project in the Zamora copper-gold belt of southeastern Ecuador. The Santa Barbara project is a large-scale porphyry system comprising indicated resources of 29.8 million tonnes grading 0.73 gram per tonne gold and 0.10 per cent copper, containing 697,000 ounces gold and 68 million pounds copper, and inferred resources of 205.7 million tonnes grading 0.52 gram per tonne gold and 0.09 per cent copper, containing 3,418,000 ounces gold and 426 million pounds copper. For more details, see the company's mineral resource estimate prepared in accordance with National Instrument 43-101 by SRK Consulting, effective March 23, 2026, which can be found on SEDAR+ and the company's website.

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