Mr. Lewis Lawrick reports

MAGNA TERRA PARTNER LUNEX METALS ADVANCES EXPLORATION AND LAUNCHES DRILL PROGRAM AT THE LUNA ROJA PROJECT IN SANTA CRUZ, ARGENTINA

Magna Terra Minerals Inc. project partner Lunex Metals Corp. (formerly Andean Metals Corp.) has commenced a 3,000-metre drill program on the Luna Roja project, located in Santa Cruz province, Argentina.

Since optioning the Luna Roja project from Magna Terra in October, 2025, Lunex has carried out prospecting, geological mapping and ground geophysical surveys that have identified priority targets that will be tested in this drill campaign. Exploration to date has included the collection of 31 rock chip and 23 channel samples, as well as 330.04 line kilometres of ground magnetic surveying.

Rock chip and channel sampling resulted in the discovery of high-grade gold and silver mineralization with assays up to 13.26 grams per tonne gold and 1,155 g/t silver. Rock samples ranged from less than 0.01 g/t gold to 13.26 g/t gold with seven of the 54 samples assaying over one g/t gold; and ranged from less than 0.01 g/t silver to 1,155 g/t silver with 40 of the 54 samples assaying greater than one g/t silver. Notably two of the highest-grade samples (samples 1004 and 1005) assayed for elevated mercury (Hg) with values of 5,896 parts per billion and 4,686 ppb, a key pathfinder for gold mineralization within low-sulphidation epithermal systems.

At the south end of Estrella del Norte, three channel samples were collected that assayed 1.97 g/t gold and 7.2 g/t silver over 1.0 metre; 4.02 g/t gold and 4.03 g/t silver over 1.0 metre; and 13.26 g/t gold and 8.2 g/t silver over 1.0 metre from an outcrop of altered rhyolitic dome rocks with fine disseminated sulphides and stockwork-style mineralization.

At Cruz del Sur, at the south end of the Via Lactea fault, chip samples were collected that assayed 1.65 g/t gold and 1,155 g/t silver over 1.0 metre and 1.48 g/t gold and 241 g/t silver over 1.0 metre from hydrothermal breccia with quartz-adularia-sericite alteration.

Luna Roja project highlights

• Approximately 10,000 hectares in three exploration licences;
• Accessible year-round via road access from Fitz Roy located 80 kilometres to the northeast;
• Centred along a 2.8 km section of the northwest-striking Via Lactea fault lying just 75 km northwest of Cerrado Gold's Minera Don Nicholas mine infrastructure and 30 km north-northwest of the Los Calandrias mining and exploration tenements;
• 2019 discovery hole drilled by Magna Terra -- LR DDH002 intersected 75.0 m of 0.62 g/t gold and 5.6 g/t silver (from 37.0 m to 112.0 m). The deepest part of the zone, which is oxidized, included 42.0 m of 1.01 g/t gold and 4.6 g/t silver (from 68.0 m to 110.0 m), suggesting increased grade with depth;
• A three km by 800 m striking gold trend underlain by anomalous soil geochemistry and induced polarization (IP) geophysical signature;
• Multiple drill-ready targets in three distinct surface mineralized horizons including the Estrella del Norte, Orion, Cruz del Sur and Signos target areas.

"We are very excited that Lunex has advanced Luna Roja so quickly to a preliminary drill program testing priority targets generated through ground geophysical and surface geochemistry programs carried out in late 2025, further following up on initial drill success Magna Terra had in a maiden drill program undertaken in 2019. The current drill program is designed to test selected sectors along the 2.8 km long Via Lactea mineralized corridor (Estrella del Norte, Orion and Cruz del Sur sectors) and to conduct scout drilling along the Signos corridor (Lambda and Alpha sectors)," stated Lew Lawrick, president and chief executive officer, Magna Terra Minerals.

"We are excited to have commenced our inaugural 3,000-metre drill program at Luna Roja, marking an important milestone for Lunex as we advance this highly prospective gold-silver project in Santa Cruz. The strong surface results and defined drill targets along the Via Lactea corridor provide a solid foundation for this first phase of drilling. As we execute our exploration strategy, we are also progressing efforts to list our common shares on the TSX Venture Exchange in Q2 2026, positioning Lunex for increased market visibility and access to capital as we move the project forward," stated Joaquin Mignaquy, chief executive officer, Lunex Metals Corp.

Luna Roja field program overview

December, 2025, geochemistry and ground magnetics results

• Surface chip and channel sampling confirmed historical target areas and returned high-grade gold-silver values, including results up to 13.26 g/t gold and 1,155 g/t silver.
• Quantec completed the ground magnetic survey totalling 49 lines and 330.04 km, improving the definition of key structural trends, and lithological contrasts interpreted to be associated with epithermal mineralization.
• The integrated interpretation (magnetics plus mapping plus geochemistry) has extended and refined drill target areas, including corridor-scale structures and intersection zones that materially expand the priority target set.

January, 2026, field campaign

• Completed a focused follow-up campaign to ground-truth magnetics-driven targets, confirm structural corridors in the field and tighten drill targeting.
• Continued systematic surface work, including additional mapping and rock sampling guided by the magnetic interpretation, with particular emphasis on newly defined target areas that were not previously prioritized.
• In parallel, the team used this campaign to prepare the site for operations, including conditioning and organizing key components needed for drilling start-up.

Planned drilling program

• Lunex has initiated its drilling campaign on Feb. 7, 2026.
• Three thousand m drill campaign expected with the possibility to expand metreage depending on results.
• During the early January field campaign, Lunex actively conditioned and prepared the operation to ensure a smooth start, focusing on logistics, site readiness and operational sequencing.
• Lunex have begun mobilizing fundamental equipment and critical supplies to the estancia, establishing the base conditions required for continuous field execution to support this drill program and all further exploration work.

About the Luna Roja project

The Luna Roja project is located in the prolific Deseado Massif region of Santa Cruz province approximately 75 km to the northwest of the new Don Nicolas mine and 30 km to the north-northwest of the Las Calandrias project. The project is accessible year-round, and benefits from access to infrastructure including roads, power and water.

Luna Roja's geology includes rhyolitic volcanic rocks with intense silicification and hydrothermal alteration, typical of productive low-sulphidation gold systems in the region. The project is centred along a three km section of the northwest-striking Via Lactea fault with coincident IP resistivity and chargeability anomalies and intermittently exposed low-sulphidation epithermal Au-Ag veins and breccias.

Previous exploration work at Luna Roja includes 360 rock chip and float samples, 741 trench samples, 715 soil samples, and 17.6 line km of IP surveying. In 2019, Magna Terra completed eight diamond drill holes, totalling 1,184 metres, in a first phase drill program that led to the discovery of a significant gold-silver mineralized zone at Cruz del Sur (see Magna Terra news release dated April 16, 2019).

Highlight assays from the initial drilling program include:

• 75.0 m of 0.62 g/t gold and 5.6 g/t silver (from 37.0 m to 112.0 m), including 42.0 m of 1.01 g/t gold and 4.6 g/t silver (from 68.0 m to 110.0 m) in drill hole LR_DDH002;
• 51.4 m of 0.26 g/t gold and 9.37 g/t silver (from 44.6 m to 96.0 m), including, 2.0 m of 1.08 g/t gold and 79.60 g/t silver (from 62.0 m to 64.0 m) in drill hole LR-DDH001.

Exploration work to date has identified gold intercepts at shallow depths, with the potential for future exploration to identify geologic controls to the mineralization, and to expand the mineralized footprint and establish continuity. Luna Roja is well positioned for additional near-term discovery, potential resource delineation and possible future development, supported by a strong regional geological framework and positive early stage results.

Option agreement details

Under the terms of the agreement, Lunex can earn a 100-per-cent interest in the project for total consideration of $2,375,000 payable in cash and Lunex common shares (see news release dated Oct. 6, 2025) as detailed in the attached table.

The Luna Roja project is subject to a 1-per-cent net smelter return, payable to Orogen Royalties Inc.

Qualified person and technical disclosure

This news release has been reviewed and approved by David A. Copeland, PGeo, a non-independent consultant to the company and a qualified person as defined under National Instrument 43-101 -- Standard for Disclosure for Mineral Projects.

The scientific and technical data contained in this news release was reviewed and approved by Fernando Ganem, PGeo, under Engineers & Geoscientists of British Columbia, vice-president of exploration of Lunex, who is responsible for ensuring that the information provided in this news release is accurate and who acts as a qualified person as defined under National Instrument 43-101 -- Standard for Disclosure for Mineral Projects.

Rock chip and channel samples were collected by Lunex personnel and contractors and submitted to Alex Stewart International laboratories, located in San Julian, Santa Cruz, Argentina, for analysis for gold via 30-gram fire assay with atomic adsorption finish (method Au4-30); 39-element (including Ag) inductively couple plasma (ICP) analysis (method ICPMA-39) and cold vapor technique for Mercury (method G-5).

Channel and rock-chip samples included 10 per cent QA/QC (quality assurance/quality control) controls through the insertion of blank samples at the beginning of each analytical batch and immediately prior to samples with strong visible mineralization, to monitor potential contamination and carryover during sample preparation and analysis.

Sampling of drill core from the 2019 program at Luna Roja was carried out with core being cut by angle grinder and half of the core retained for logging and potential reanalysis. Blind standards, blanks and duplicates were inserted into the sample chain accounting for 10 per cent of samples. Samples were then delivered, by Magna Terra staff, to Andesmar in Caleta Olivia, Santa Cruz, Argentina, from where they were transported to ALS Chemex Laboratories in Mendoza, Argentina, for gold fire assay and multielement analysis.

About Magna Terra Minerals Inc.

Magna Terra Minerals is a precious- and critical-metals-focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging the company's ability to explore, grow and transact projects. The company is focused on exploring the company's 100-per-cent-owned Humber copper-cobalt project in Newfoundland and Labrador; the company's 100-per-cent-owned Rocky Brook gold and critical metals project in the historic Bathurst mining camp of New Brunswick; and the company's 100-per-cent-owned Cape Spencer gold project in New Brunswick. In addition, the company has optioned the Great Northern project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $9.5-million over a two-year period, and currently holds an approximate 14-per-cent equity interest in Gold Hunter. The company has also optioned the Luna Roja project in Argentina to Lunex Metals Corp. (formerly Andean Metals Corp.) for total cash and share consideration of $2,375,000 over a four-year period. Further, the company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its large 100-per-cent-owned Boleadora project, as well as several additional district-scale, drill-ready projects available for purchase or option/joint venture.

About Lunex Metals Corp.

Lunex Metals is an Argentina-focused precious metals exploration company, with a strong local technical team backed by experienced capital markets professionals. Lunex is a British Columbia corporation that is a reporting issuer in the provinces of British Columbia and Alberta.

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