Mr. Jack Campbell reports

MEXICAN GOLD MINING CORP. AND ALCON SILVER CORP. COMPLETE ARRANGEMENT TO CREATE PLATAURO METALS CORP., A DIVERSIFIED PRECIOUS METALS EXPLORATION COMPANY

Platauro Metals Corp. has completed the previously announced plan of arrangement under the Business Corporations Act (British Columbia) pursuant to the arrangement agreement dated April 8, 2026, whereby Platauro acquired all of the issued and outstanding common shares of Alcon Silver Corp. in exchange for common shares in the capital of Platauro.

Pursuant to the arrangement, Alcon shareholders received one postconsolidation common share of Platauro for each common share of Alcon held. Following completion of the arrangement and the conversion of the subscription receipts (as defined below), former Alcon shareholders hold approximately 53 per cent of the issued and outstanding common shares of Platauro on a non-diluted basis. A total of 40,797,830 consideration shares were issued to Alcon shareholders at a deemed price of approximately 27 cents per share on a postconsolidation basis, based on the market price of the consideration shares prior to closing of the arrangement, for aggregate deemed consideration of approximately $10,879,640.

Jack Campbell, chief executive officer of Platauro, stated: "We are pleased to announce the successful completion of this transformative transaction, which establishes Platauro as a diversified precious metals exploration company with a compelling growth platform. The combination of the robust economics and expansion potential at Las Minas, alongside the strong silver foundation at Princesa, creates a portfolio anchored by quality resources. With a proven team and a strong, aligned shareholder base, we believe Platauro is well positioned to deliver significant value to our shareholders."

Name change and consolidation

Prior to and in connection with the arrangement, the company completed a consolidation of its outstanding common shares on a one-for-1.6667 basis and changed its name from Mexican Gold Mining Corp. to Platauro Metals Corp. Effective at the open of markets on July 20, 2026, the common shares of Platauro will commence trading on a postconsolidation basis under the new name, new ticker symbol PURO and new Cusip No. 727632101.

Concurrent financing

In connection with the arrangement, the company previously completed a non-brokered private placement of 11,495,000 subscription receipts at a price of 20 cents per subscription receipt for aggregate gross proceeds of $2,299,000. Upon closing of the arrangement and satisfaction of the escrow release conditions, each subscription receipt automatically converted into one unit of the company, with each unit consisting of one common share of the company (on a postconsolidation basis) and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of 30 cents per share for a period of 30 months following the closing date of the arrangement. All securities issued pursuant to the concurrent financing are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

The net proceeds of the concurrent financing will be used for exploration of the Princesa project, exploration of the Rowdy claim at Tatatila, legal fees associated with the Las Minas claims dispute, and general corporate and working capital purposes.

Board and management changes

As previously announced and in connection with the completion of the arrangement, John Larson and Bruce Winfield, current directors of Alcon, have joined the board of directors of Platauro and Ashley O'Neill has resigned from the board. All the directors and officers of Alcon resigned from their positions and Platauro will apply for Alcon to cease to be a reporting issuer under applicable Canadian securities laws. Robert S. Tyson, former president and chief executive officer of Alcon, was appointed as an adviser to the company.

Conversion of Alcon convertible debentures

Prior to completion of the arrangement, all outstanding unsecured convertible debentures of Alcon were automatically converted into a total of 560,000 Alcon shares at a price of 25 cents per share. No Alcon convertible debentures remain outstanding.

About Platauro Metals Corp.

Platauro is a Canadian-based mineral exploration and development company committed to building long-term value through continuing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas. The company's portfolio includes the Las Minas project located in the core of the Las Minas mining district in Veracruz state, Mexico, host to one of the newest, underexplored skarn systems known in Mexico, and the Princesa silver-polymetallic project in the Puno-Cusco mining district in Peru.

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