Mr. Matthew Fisher of La Mancha reports

LA MANCHA INVESTMENTS S. A R. L. TO FILE EARLY WARNING REPORT

La Mancha Investments Sarl, a wholly owned subsidiary of La Mancha Resource Fund SCSp, advised by La Mancha Resource Capital LLP, has noted that on Aug. 15, 2026, La Mancha entered into a subscription agreement with Miata Metals Corp. to subscribe for 33,468,442 common shares in the capital of Miata for aggregate consideration of $13,722,061.22 (representing a price per share of 41 cents) pursuant to a non-brokered private placement (subscription). The subscription is expected to close on or about Aug. 18, 2026.

Prior to entering into the subscription agreement, La Mancha did not own, or exercise control or direction over, any shares. Upon entering into the subscription agreement, La Mancha is deemed to beneficially own, and to exercise control or direction over, an aggregate of 33,468,442 shares, representing approximately 19.9 per cent of the issued and outstanding shares (calculated as if the shares to be issued under the subscription, together with those to be issued under Miata's separate, concurrent bought deal financing, had already been issued).

La Mancha is acquiring the shares for investment and portfolio management purposes, and intends to review its investment in Miata on a continuing basis. In the future, depending on market conditions, general economic and industry conditions, Miata's business and financial condition and/or other relevant factors, La Mancha may, from time to time, directly or indirectly, increase or decrease its investment in Miata, including by acquiring additional securities or disposing of all or any portion of the securities it holds, through market transactions, private arrangements, treasury issuances or otherwise.

La Mancha intends to file an early warning report containing additional information with respect to the foregoing matters, which will be available under Miata's SEDAR+ profile.