Mr. Allen Sabet reports

MOGOTES METALS ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT OF UNITS AND UPSIZE TO PRIVATE PLACEMENT AND ENTERING INTO DIGITAL MARKETING AGREEMENT

Mogotes Metals Inc., further to its news releases of June 2, 2025, and June 16, 2025, has closed the second tranche of its non-brokered private placement through the issuance of 55,650,334 units at a price of 20 cents per unit for aggregate gross proceeds of $11,130,066.80. In addition, the company has issued an additional 18,689,666 units to an associated entity of the Braun family for gross proceeds of $3,737,933.20, which will be held in escrow pending the approval of the TSX Venture Exchange to release. The total proceeds raised from the first and second tranche, including the proceeds held in escrow is $22-million.

Each unit comprises one common share and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of 40 cents per common share for a period of two years from the closing of the offering.

In connection with the closing of the second tranche of the offering, the company issued finders' fees of three million common shares.

The company also announces that it has further increased the size of the offering to up to 112.5 million units for aggregate gross proceeds of up to $22.5-million. An additional tranche of the offering is expected to close shortly and is subject to regulatory approval, including approval of the TSX Venture Exchange.

All securities issued pursuant to the second tranche of the offering in Canada and the United States will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Subject to compliance with applicable regulatory requirements, all securities to be issued pursuant to the second tranche of the offering in jurisdictions outside of Canada and the United States pursuant to Ontario Securities Commission Rule 72-503, Distributions Outside Canada, will not be subject to any statutory hold period. The proceeds from the sale of the units will be used for financing the company's exploration work programs and development of the company's Filo Sur property, and general working capital purposes. The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

Digital marketing agreement

In addition, the company announces that it has entered into a marketing services agreement with Senergy Communications Capital Inc. Under the terms of the agreement, the company will pay Senergy a total of $100,000. This amount is primarily for media and advertising spend and includes a management fee for overseeing and executing a targeted advertising campaign, as well as managing the advertising budget on behalf of the company. The campaign will focus on increasing awareness of the company through a combination of digital advertising, investor outreach and content creation. The agreement has a term of three months starting on July 7, 2025. Senergy and its principal, Aleem Fidai, maintain an arm's-length relationship with the company. Mr. Fidai currently holds 62,500 common shares and 31,250 warrants of the company. Neither Senergy nor any of its other principals or affiliates hold any additional direct or indirect interest in the company, nor do they have any current intention to acquire further interest.

The contact information for Senergy is 122 Mainland St. (Suite 228), Vancouver, B.C., V6B 5L1. The contact person of Senergy is Aleem Fidai, e-mail: info@senergy.capital, phone: 778-772-6740.

About Mogotes Metals Inc.

Mogotes Metals is a mineral exploration company exploring for copper and gold in the prospective Vicuna district of Argentina and Chile. The Mogotes flagship project, Filo Sur, adjoins the large Filo del Sol copper-gold-silver discovery, and is along the same north-south-trending belt as the Filo Del Sol-Aurora and NGEx Minerals Lunahuasi and Los Helados copper-gold deposits.

We seek Safe Harbor.