Mr. Christopher van Tienhoven reports

PATAGONIA GOLD CORP. ANNOUNCES PASSING OF FORMER CHAIRMAN CARLOS J. MIGUENS

Patagonia Gold Corp.'s Carlos J. Miguens, former chairman of the company, passed away on July 18, 2026.

Mr. Miguens was a prominent figure in international business and a cornerstone of Patagonia's growth and evolution. During his tenure as a director, and as a significant shareholder and investor in the company, Mr. Miguens contributed meaningfully to the development of Patagonia. In particular, his support helped the company advance the development of its flagship Calcatreu project in Rio Negro province, Argentina.

Mr. Miguens served as chairman of the company from July, 2019, when its shares first started trading on the TSX Venture Exchange, to October, 2022. During this time he provided the company with strategic vision, disciplined capital oversight, and a long-term perspective that have been instrumental in advancing the company's portfolio of gold and silver assets in Argentina.

The board of directors and management of Patagonia express their deepest condolences to Mr. Miguens' family, friends and colleagues during this difficult time.

Christopher van Tienhoven, chief executive officer of the company, commented: "Carlos was an exceptional business leader whose strategic vision and unwavering support were fundamental to the development of the company. His commitment to the company was critical to building the strong foundation we have today and his contributions will have a lasting influence on our organization. His support has enabled the advancement of the Calcatreu project, as well as its other core assets, and positioned the company for future growth."

The Miguens family has confirmed its commitment to honour Mr. Miguens' legacy by continuing to remain a long-term shareholder of the company and to continue supporting the responsible development of mining in Argentina through Patagonia Gold's portfolio of projects. Consistent with the applicable estate arrangements, Mr. Miguens's shareholdings will transition to his heirs.

About Patagonia Gold Corp.

Patagonia Gold is a South America-focused mining company that seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.