Mr. Allen Sabet reports

DRILLING UPDATE AT FILO SUR PROJECT - 3 DRILL RIGS TURNING NOW

Drilling of key priority targets is advancing with three active drill rigs now on Mogotes Metals Inc.'s Filo Sur project located directly south of the large BHP/Lundin Filo Del Sol (FDS) Cu-Au-Ag (copper-gold-silver) resource.

Chief executive officer of Mogotes, Allen Sabet, commented:

"Our third diamond drill rig is now turning on the project. We have commenced drilling at our precious metals high-sulphidation Meseta target in Chile, located directly south of the exceptional Filo del Sol Cu-Au-Ag resource. With the third rig in place, we plan to test as many targets as possible (including priority Chilean target) while the drill season allows. We look forward to updating the market as results flow through this drilling season."

Drill program update

Drilling is planned to continue on priority targets highlighted in previous releases (see news release dated Nov. 26, 2025). This season's program initially focused on lower-altitude targets in Argentina at Cruz del Sur and Stockwork Hills, and has now advanced to the Argentine side of the Meseta and Camino prospects.

At Cruz del Sur, the originally planned single-hole drill test was expanded to four holes after encouraging geological features were intercepted in the initial hole.

With a camp installed and access established, drilling is now advancing in Chile, currently testing the Meseta HSE Au-Ag target located near to the Mogotes/BHP-Lundin property boundary. The program plans to move to the lower-altitude Luz del Sol target (previously called Los Mogotes) as the season permits.

Drilling will continue until operational conditions necessitate closure of the program. Results are expected to be released on a target-by-target basis as they are received and interpreted by the company. Results from Cruz del Sur and Stockwork Hills are expected in March.

PDAC 2025

Mogotes Metals will be exhibiting at PDAC 2025 in Toronto. The Mogotes team will be available to meet with investors and stakeholders at Booth 2847. We invite attendees to visit us to learn more about the Filo Sur project and the company's continuing drill program.

About Mogotes Metals Inc.

Mogotes Metals is a mineral exploration company exploring for copper, gold and silver in the prospective Vicuna district of Argentina and Chile. 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.

Qualified persons

The scientific and technical disclosure for the Filo Sur project included in this news release have been reviewed and approved by Stephen Nano, who is the qualified person as defined by National Instrument 43-101. Mr. Nano is a director and technical adviser of the company.

Note that the qualified person has not verified the information regarding adjacent properties such as Filo del Sol and that the information regarding the mineralization of the Filo del Sol project is not necessarily indicative of the mineralization on the Filo Sur project.

Mogotes applies industry standard exploration sampling methodologies and techniques. All geochemical soil, stream, rock and drill samples are collected under the supervision of the company's geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples from Argentina are dispatched bagged in raffia bags and packaged for shipment by an exclusive truck to the ALS laboratory in Mendoza, Argentina. Samples from Chile are dispatched bagged in raffia bags and delivered to the ALS laboratory in Copiapo, Chile. These facilities carried out sample preparation (PREP-31B) which includes crush to 70 per cent less than two millimetres, riffle split off one kilogram, pulverize to 85 per cent passing 75 micrometres. The prepared samples are sent to the ALS laboratory in Lima, Peru, for gold and multielement analysis. Gold (Au-ICP21) was analyzed by fire assay fusion with ICP-AES finish on a 30 g sample. Samples were also analyzed for a suit of 48 elements (ME-MS61) with four-acid digestion and ICP-MS finish.

Assay results from drill core samples may be higher, lower or similar to results obtained from surface rock, channel, trench samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

We seek Safe Harbor.