Mr. Bryce Roxburgh of Rugby Resources reports

RUGBY RESOURCES SHAREHOLDERS APPROVE ARRANGEMENT WITH PAMPA METALS

Rugby Resources Ltd. and Pampa Metals Corp. have released the voting results for the special meeting of shareholders of Rugby held on July 16, 2025, in Vancouver, B.C.

At the special meeting, the Rugby shareholders considered a special resolution approving the previously announced statutory plan of arrangement with Pampa and Aegis Resources Ltd. (SpinCo) and an ordinary resolution approving the implementation of a stock option plan for SpinCo.

Rugby shareholders, representing a total of 55.39 per cent of the outstanding common shares of Rugby eligible to be voted at the special meeting, voted at the special meeting; 99.97 per cent of the total votes cast by Rugby shareholders at the special meeting voted for the arrangement resolution and the SpinCo option plan resolution.

Completion of the arrangement remains subject to court approval and other customary closing conditions. The Supreme Court of British Columbia hearing in respect of the final order is expected to take place at 10 a.m. Vancouver time on Tuesday, July 22, 2025 (or as soon thereafter as legal counsel can be heard). Assuming the timely completion of these conditions, Rugby expects the arrangement to close on or about July 24, 2025.

About Rugby Resources Ltd.

Rugby is an exploration company conducting discovery-stage exploration on a portfolio of copper, gold and silver targets in Colombia, Argentina and Chile. The Colombian Cobrasco project is located along the Western Cordillera belt, which hosts large-scale copper molybdenum mines in Chile, Peru and Panama (and more recent significant projects discovered in Ecuador). This belt has not been subjected to modern exploration in Colombia. Rugby looks to advance the Cobrasco project to demonstrate the economic potential of a major discovery for Colombia. The discovery of significant new copper opportunities is essential for the mining industry to supply the copper necessary to transition from fossil fuels to advanced electrification.

About Pampa Metals Corp.

Pampa Metals is a copper-gold exploration company listed on the Canadian Stock Exchange, Frankfurt Stock Exchange and the OTCQB exchange. In November, 2023, the company announced it had entered into an option and joint venture agreement for the acquisition of an 80-per-cent interest in the Piuquenes copper-gold porphyry project in San Juan province, Argentina. In April, 2025, the company announced an agreement to acquire 100 per cent of Rugby Resources and, on closing, will hold an 80-per-cent interest in the Cobrasco project, located in Colombia.

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