Mr. Luis Goyzueta reports

TITIMINAS SILVER ANNOUNCES APPOINTMENT OF DR. ROBERT J. MCDONALD TO THE BOARD OF DIRECTORS

Titiminas Silver Inc. has appointed Dr. Robert J. McDonald to its board of directors as an independent director, effective May 28, 2026. The appointment further strengthens the company's governance as Titiminas advances the Madre Sierra silver mine in central Peru toward key technical and corporate milestones, including the maiden National Instrument 43-101 mineral resource estimate and preliminary economic assessment.

Highlights

• Dr. McDonald brings to the role more than 30 years of executive, advisory and board experience across the mining, energy and infrastructure sectors, with a particular focus on Peru.
• He currently serves as business development manager at Fortescue, one of the world's largest iron ore producers and a major Australian mining and energy group, where he previously held the role of general manager Peru with Fortescue Future Industries and Fortescue Metals Group from November, 2020, to May, 2024.
• Past senior roles include presidential adviser to the government of Peru, general manager of the National Society of Mining, Oil and Gas, and Energy (SNMPE), president of the infrastructure committee at Peru's investment promotion agency ProInversion, chief executive officer of Orica Peru, and independent director of Alta Copper.
• His background combines extensive private-sector executive experience with senior public-sector and industry-association leadership, providing Titiminas with strong independent governance oversight and deep stakeholder networks across Peru.

About Dr. Robert J. McDonald

Dr. McDonald is a Cambridge-educated economist with a PhD in management sciences from ESAN (Lima, Peru) -- awarded Summa Cum Laude -- and additional doctoral research at Universidad Carlos III de Madrid. He was an academic visitor and visiting fellow at the Latin American Centre, St. Antony's College, University of Oxford. He is a native Peruvian and a British citizen, and is multilingual in English, Spanish, Portuguese and German.

His executive experience includes:

• Fortescue -- business development manager (since June, 2025; previously 2020 to May, 2024, general manager with Peru Fortescue Future Industries and Fortescue Metals Group), responsible for the group's activities in Peru across mining and energy industries. Fortescue is a major Australian mining and energy group and one of the world's largest iron ore producers.
• Presidential Office of the Republic of Peru -- presidential adviser (2018 to 2020), responsible for selecting and monitoring fast-track progress of 40 priority national projects and president of the Pro Transportes y comunicaciones committee at ProInversion (2018), overseeing major infrastructure concessions including railways, highways, telecommunications backbone and regional broadband networks.
• SNMPE -- general manager (2017 to 2018) of Peru's leading industry association representing the mining, oil and gas, and energy sectors.
• Orica Peru -- chief executive officer (2005 to 2012), leading the Peruvian operations of the global mining services company, including the development of an industrial-grade ammonium nitrate project in Ilo and Moquegua.
• ProInversion -- president of the infrastructure committee (2001 -- 2005), responsible for the concession of regional and international airports, the Port of Callao, and the sale of mobile telecommunications spectrum.
• Alta Copper -- independent director (2024 to 2025).

Three of the projects with which Dr. McDonald has been associated have received Declarations of National Interest by the government of Peru. He has participated in approximately 25 M&A (merger and acquisition) transactions across various industries and geographies. He is a founding partner of the Research & Do Institute (RADI) and has held academic positions at the Universidad de Lima Postgraduate School, where he served as director of corporate engagement and is currently a member of the supervisory board of the master's program in logistics and operations.

Management commentary

"Robert is one of the most respected and well-connected mining executives in Peru. His combination of senior executive experience in the extractive industries, deep familiarity with Peru's public sector and regulatory environment, and academic depth in stakeholder engagement and social licence to operate make him an exceptional addition to our board. We look forward to benefiting from his independent counsel as Titiminas advances the Madre Sierra silver mine through its next phase of development and pursues accretive M&A opportunities."

-- Luis Goyzueta, chairman and chief executive officer, Titiminas Silver

Grant of restricted share units

In connection with his appointment, the board of directors has approved the grant to Dr. McDonald of 125,000 restricted share units (RSUs) of the company under the company's equity incentive plan. Each RSU entitles the holder, upon vesting, to receive one common share of the company. The grant is subject to the approval of the TSX Venture Exchange and to the terms and conditions of the company's equity incentive plan, including the applicable vesting provisions.

About Titiminas Silver Inc.

Titiminas Silver is a Peru-focused silver developer advancing the past-producing high-grade Madre Sierra silver mine in central Peru, one of the world's most prolific mining jurisdictions. The company holds an option to acquire 100 per cent of the project, comprising 18 mining concessions covering 7,561 hectares. Titiminas is pursuing a multiasset growth strategy with a clear path to becoming a mid-tier silver producer through project development and strategic M&A, leveraging proprietary deal flow and deep relationships across Peru. The company is led by an experienced team with a proven record in exploration, development, financings and operations.

We seek Safe Harbor.