Mr. Keith Henderson reports

LATIN METALS POSITIONS FOR A CATALYST-DRIVEN 2026 WITH GOLD AND COPPER EXPOSURE

Latin Metals Inc. has provided shareholders with an overview of project advancement achieved during 2025 and the exploration and corporate activities planned for 2026, as the company transitions from project advancement to execution, with multiple drill-ready assets across its gold and copper portfolio.

Following a year focused on drill permitting, project expansions and the advancement of partner-financed exploration agreements, Latin Metals enters 2026 with several drill-ready projects and active partner-financed exploration programs, supported by a strengthened balance sheet and no near-term requirement for equity financing. Keith Henderson, president and chief executive officer of Latin Metals, stated:

"As we enter 2026, multiple drill-ready projects are advancing through partnerships, while we continue to advance projects within our pipeline. This positions us to generate new opportunities for partnership and keeps the company focused on building a sustained pipeline of exploration catalysts through 2026 and 2027."

Partnership with Daura Gold

In late 2025, the company announced signing of an option agreement with Daura Gold on the Cerro Bayo and La Flora projects in Argentina. The agreed terms include up to $1.7-million (U.S.) payable to Latin Metals, $400,000 (U.S.) payable to the underlying vendor, and drilling of 28,000 metres; all for an initial 75-per-cent interest (Nov. 3, 2025).

Daura immediately deployed geophysical teams to begin extensive induced polarization surveys at Cerro Bayo, aimed at refining targets for drill testing (Dec. 22, 2025). Pole-dipole profiling was completed before year-end, and results are expected in January, 2026. Work to complete extensive gradient array IP surveys is already under way, and drilling is expected to begin in Q1 2026. Cerro Bayo is fully drill permitted.

Partnership with Moxico

Moxico recently undertook a rebranding of the Esperanza and Huachi copper-gold exploration projects collectively as the Zaha project.

Geological work in 2025 has expanded the known footprint of mineralization with new copper mineralization identified north and west of previously drilled areas, including 92 outcropping areas of mineralization identified. International porphyry expert Dr. Richard Sillitioe completed a review of the Zaha project and confirmed the presence of multiphase mineralized intrusions and highlighted the potential for extensions of mineralization beyond the zones defined to date.

In parallel, Moxico are advancing with programmed environmental and social works. Hydrological and hydrogeological studies are under way in partnership with leading Argentina research institutes and due to be concluded in early 2026. On the social side, Moxico retained a San Juan-based consultant to complete a baseline social study. The combination of technical, environmental and social work is expected to serve as a strong foundation for the application for drilling permits, which is targeted for approval during the first quarter of 2026.

Subject to receipt of permits, Moxico's exploration work commitments for 2026 under the agreement with Latin Metals includes 15,000 metres of drilling.

Partner-ready projects

The Organullo gold project in Argentina is a high-potential exploration project, which is fully permitted and drill ready (June 9, 2025). Work completed in the last two years has positioned the project with multiple untested drill targets prospective for both high-sulphidation gold and porphyry copper-gold mineralization, and property acquisitions have helped consolidate the project and buffer the key target areas.

The previous partner was targeting a multimillion-ounce, Tier 1 discovery at Organullo and defined multiple high-priority drill targets, including three previously unexplored advanced argillic alteration zones extending along a six-kilometre strike length. District-scale geophysical anomalies, structural interpretations, surface geochemical results and hyperspectral data collectively support the project's strong potential for a significant gold discovery (Oct. 30, 2025).

In 2026, the company is positioning the project for a new partnership in a strong gold price environment.

The Lacsha copper project in Peru is fully drill permitted and partner-ready. In 2025, the company completed additional geochemical sampling surveys aiming to further expand the drill target areas. Samples identified as anomalous using portable XRF have been submitted for laboratory analysis, with results expected in Q1 2026.

In 2026, the company is seeking to secure an exploration partner to drill test the copper porphyry drill targets.

Exploration advancing early stage projects

The company controls approximately 500,000 hectares of exploration territory highly prospective for sediment-hosted copper mineralization in northwest Argentina. This regional land position is subdivided into four project areas -- Mirador, Ventana, Solario and Terraza. In 2026, the company plans to complete an initial regional surface geochemical survey at the Ventana copper project, with the objective of advancing the project toward partnering in 2027.

The program will include approximately 500 stream sediment samples collected across a 175,000-hectare area to identify anomalous catchments, which will then be followed up with more detailed structural, sedimentary and geochemical work. This phased approach is designed to generate well-defined drill targets within favourable sediment-hosted formations and to better quantify the scale and extent of copper mineralization.

Project pipeline

As key projects are advanced through partnerships, the company continues to evaluate new acquisition opportunities in Argentina and Peru to replenish and expand its project pipeline. The company is reviewing multiple acquisition opportunities in Argentina and Peru.

Financial outlook

Latin Metals enters 2026 with a strengthened balance sheet, having completed a $1.33-million private placement (May 20, 2025) and received approximately $1.79-million from the exercise of stock options and warrants in 2025 (Dec. 22, 2025). With a modest annual corporate budget and a disciplined approach to early stage exploration, the company does not anticipate the need for near-term equity financing.

Latin explore spinout

In 2025, Latin Metals advanced the proposed spinout of its Para and Auquis copper projects into Latin Explore Inc., creating a drill-focused copper-gold exploration company (Dec. 18, 2025). A special meeting of shareholders is scheduled for Jan. 14, 2026, to vote on the Latin Explore spinout arrangement as well as a share exchange with Finco and other matters. A concurrent financing of subscription receipts to be completed by Finco was upsized to $3-million and has subsequently been closed.

The completion of the spinout transaction is targeted for Q1 2026, subject to approvals including from the court, shareholders and regulators.

Upcoming events

Latin Metals is pleased to announce its participation in several Q1 2026 industry conferences, providing a platform to connect with investors, industry leaders and potential partners:

• VRIC -- Vancouver, Jan. 25 to Jan. 26, 2026;
• CEM -- Whistler, Feb. 6 to Feb. 8, 2026;
• PDAC -- Toronto, March 1 to March 4, 2026.

These events offer valuable opportunities to share Latin Metals' exploration progress in Argentina and Peru, highlight the advantages of its low-dilution prospect generator model, and explore strategic investment and partnership opportunities across its gold, copper and silver-focused portfolio.

Incentive stock options

The company announces that it has granted 4.5 million common share stock options to certain directors, officers and consultants of the company. The options entitle the holder to purchase shares at a price of 22 cents per share for a period of 36 months from the grant date. The options were granted in accordance with the company's equity compensation plan. Including this issuance, the company has now set options representing 7.1 per cent of the issued and outstanding stock.

About Latin Metals Inc.

Latin Metals is a copper, gold and silver exploration company operating in Peru and Argentina under a prospect generator model, minimizing risk and dilution while maximizing discovery potential. With 18 projects, the company secures option agreements with major mining companies to finance exploration. This approach provides early stage exposure to high-value mineral assets. Latin Metals is actively seeking new strategic partners to advance its portfolio.

Qualified person

Eduardo Leon, QP, is the company's qualified person as defined by National Instrument 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Leon is not independent of the company, as he is an employee of the company and holds securities of the company.

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