Mr. Christopher van Tienhoven reports

PATAGONIA GOLD ANNOUNCES LIFTING OF TEMPORARY SUSPENSION AT CALCATREU AND THIRD DORÉ DISPATCH

The preventive, partial and temporary suspension of certain activities at Patagonia Gold Corp.'s flagship Calcatreu project in Rio Negro province, Argentina, has been lifted. The suspension was lifted following the execution of an agreement with the Secretariat of Labour of the province of Rio Negro regarding the hiring and training of local workers.

As a result, the company has resumed certain activities at Calcatreu and is working to progressively normalize operations. The company is also evaluating the impact of the temporary suspension on the project's production levels and its production objectives for the upcoming periods.

The company is also pleased to announce its third dispatch of gold and silver dore from Calcatreu, containing approximately 996 gold equivalent ounces (AuEq).

The third dore dispatch, which is nearly double the company's first dispatch of 518 AuEq (gold equivalent) ounces announced in June, 2026, demonstrates the continued progress in leaching, recovery and downstream processing activities at Calcatreu since the commencement of leaching operations on April 15, 2026.

Christopher van Tienhoven, chief executive officer of the company, stated: "We are pleased that the temporary suspension at Calcatreu has been lifted and appreciate the constructive dialogue with the provincial authorities that led to this resolution. Our immediate focus is on progressively normalizing operations at the project. The third dore dispatch represents another important operational milestone for Calcatreu and reflects the progress made since leaching operations began in April."

Qualified person's statement

Donald J. Birak, an independent consulting geologist, registered member of SME, fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.

About Patagonia Gold Corp.

Patagonia Gold is a South America-focused, publicly traded, mining company listed on the TSX Venture Exchange. The company 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.

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