Mr. Darren Blasutti reports

MINING AMERICAS ANNOUNCES KEY PERMIT APPROVALS FOR DEVELOPMENT OF THE CERRO DE ORO PROJECT IN NORTHERN ZACATECAS, MEXICO

The Mexican Federal Environmental Department (SEMARNAT) has approved the key permits required for development of Mining Americas Inc.'s 100-per-cent-owned Cerro de Oro open pit, heap leach gold mine located in northern Zacatecas state, Mexico. Specifically, SEMARNAT has approved the land use change (ETJ-CUS) and the environmental impact assessment (MIA) for the project.

Concurrent with making the payments necessary to ratify the ETJ-CUS in the near term, the company will start planning the advancement of Cerro de Oro toward a construction decision. This includes progression of ancillary permits, licences and approvals required for construction and operation of the project. Detailed engineering and mine designs will also be evaluated in the context of the current elevated gold price environment. In addition, the company is planning for a drill program which will provide material for additional metallurgical testwork optimization studies and also test the depth extents of the deposit where mineralization is open below the current resource depth of approximately 130 metres.

Mining Americas chief executive officer Darren Blasutti commented: "Receiving these key permit approvals for our Cerro do Oro project is a momentous occasion and the culmination of years' worth of diligent work by the Mexican permitting authorities, our team and our permitting advisors. This provides a clear path for a significant increase in our gold production over the medium term. With these permits now approved, we will start planning the advancement of Cerro de Oro towards a construction decision. Cerro de Oro was shown to be a robust, open pit, heap leach gold project at a base case gold price of $1,600 (U.S.) per ounce based on the 2023 PEA. We are excited to now evaluate the project in the context of significantly higher gold prices and their potential positive impacts to both the size and economics of the project.

"With Cerro de Oro permits approved, we now have key permits in place for all our cornerstone growth projects including the construction-stage Copperstone underground gold project in Arizona and the Gold Rock open pit heap leach project adjacent to the producing Pan mine. We look forward to continuing to advance construction at Copperstone, making a construction decision for Gold Rock later this year, and progressing Cerro de Oro to a potential construction decision in 2027."

Cerro de Oro project overview

The company finalized agreements to acquire the Cerro de Oro project in September, 2020. Following additional drill programs and study work, in late 2022 the company announced an updated mineral resource estimate (MRE) and the results of a preliminary economic assessment (the 2023 PEA). See the company's news release dated Oct. 3, 2022, for details. In April, 2023, the company finalized documentation required to formally proceed with the project permitting process, which has now culminated in the receipt of the MIA and ETJ-CUS permits.

The MRE was estimated using a gold price of $1,700 (U.S.) per ounce and consisted of a pit-constrained, inferred resource of 67 million tonnes at an average grade of 0.37 gram per tonne for a total of 790,000 ounces of gold.

Using the MRE as a basis, the 2023 PEA envisioned a conventional open pit, heap leach operation with an initial mine life of 8.2 years, average strip ratio of 0.3:1, total gold production of 477,000 ounces, and average annual production of approximately 58,000 ounces (65,000 ounces in years 1 to 4). Initial capital costs were estimated to be $28-million (U.S.).

Copperstone technical report

The company also announces that, pursuant to its May 27, 2026, news release summarizing the results of a prefeasibility study on the Copperstone project, the technical report has been filed on SEDAR+ and can also be found on the company's website. As compared with the results presented in the May 27, 2026, news release, there are minor differences in the technical report related to assumptions in the financial model including, but not limited to, how costs are capitalized or expensed in the early years of the mine life, the timing of contractor and owner-operator costs, and the timing of mobilization and demobilization costs for contractors.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Darren Koningen, PEng, the company's president and chief operating officer, who is the qualified person under National Instrument 43-101.

About Mining Americas Inc.

Mining Americas is a growing North American gold production and development company with projects in Nevada, Arizona and Mexico. The company owns the Pan operating complex in White Pine county, Nevada, comprising the producing Pan mine and the adjacent permitted Gold Rock project.

The company also owns the Copperstone project in La Paz county, Arizona, an underground gold project currently in construction. The company maintains a portfolio of high-quality Mexican assets, including the Cerro de Oro project, a permitted open pit heap leach gold development project in northern Zacatecas.

The company's strategy is to become a leading, U.S.-focused intermediate gold producer by growing production at its Pan operating complex and developing its pipeline of permitted, low-capital projects while expanding gold resources across its portfolio.

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