Mineros Drills First Hole at Xiloa Target, Advances Multi-Zone Programme Across Nicaragua Property

• First hole ever drilled at the Xiloa target returned 8.3 metres at 17.3 g/t Au, located 1.2 kilometres from the active Pioneer Mine.
• High-grade continuity confirmed at Leticia with two separate zones in a single hole, including 1.2 metres at 271.3 g/t Au and 1.9 metres at 74.6 g/t Au.
• A new structural corridor was identified at Leticia North, adding another drill target within the Porvenir Polymetallic District.
• Step-out drilling at La Reforma NE returned 1.5 metres at 15.3 g/t Au approximately 100 metres below the current resource boundary.
• Infill drilling at the Panama Mine returned 4.4 metres at 8.9 g/t Au, supporting the conversion of lower-confidence resources into higher-confidence categories for mine planning.

Mineros S.A. (TSX: MSA, OTCQX: MNSAF, BVC: MINEROS) is a Colombia-based gold producer headquartered in Medellin, with more than 50 years of operating history. The company operates an alluvial mining property in Colombia's Nechi region and an underground hard-rock complex in northeastern Nicaragua, known as the Hemco Property. Mineros also holds development and exploration assets, including the La Pepa Project in Chile, and has built a reputation for safety, environmental responsibility, and financial discipline.

New High-Grade Xiloa Vein System Identified Near Pioneer Mine

The Xiloa target is located approximately 1.2 kilometres northeast of the Pioneer Mine within the Nicaragua Property. Prior to this programme, the area had been assessed through surface mapping and sampling but had not previously been drill-tested. The 2026 campaign marked the first time drilling was carried out at Xiloa.

The first hole returned 8.3 metres at 17.3 g/t Au, including a higher-grade core of 0.6 metres at 58.7 g/t Au. Three follow-up holes traced mineralisation over approximately 400 metres of strike length and 150 metres of vertical depth. The zone remains open along strike and at depth.

The Xiloa Vein System sits within the existing land package and in proximity to Pioneer Mine's infrastructure, including roads, power, and processing facilities.

VP of Exploration Carlos David Rios stated:

"Xiloa demonstrates the potential of what a robust drilling program can deliver, a first-pass discovery, in our own backyard, sitting within reach of existing infrastructure."

Drilling at Xiloa is scheduled to continue through the second and third quarters of 2026.

Leticia and Apoyo Vein Systems Confirm High-Grade Continuity Across the Porvenir Polymetallic District

The Porvenir Polymetallic District is an epithermal system, a type of gold and silver deposit formed by ancient hydrothermal activity near the Earth's surface, that also contains zinc. It currently holds approximately 736,000 gold-equivalent ounces in Proven and Probable Mineral Reserves. The Leticia and Apoyo vein systems are situated less than 500 metres from the Porvenir project.

Drilling at Leticia intersected two separate high-grade zones within a single hole: 1.2 metres at 271.3 g/t Au at approximately 91 metres depth, and 1.9 metres at 74.6 g/t Au at a deeper level in the same hole. At Leticia North, two holes defined a separate structural corridor within the district, representing an additional target for future drilling. The Apoyo Vein System returned nearly six metres of continuous mineralisation in one hole.

All three vein systems within the district remain open along strike and at depth. Drilling at the Porvenir District is planned to continue throughout 2026, with results to be incorporated into future resource updates.

La Reforma Step-Out and Panama Infill Drilling Extend Mineralisation

At the Pioneer Mine, step-out drilling, defined as holes drilled beyond the boundary of a known resource to test for additional mineralisation, was carried out along the La Reforma and La Reforma NE vein systems. One hole intersected 1.5 metres at 15.3 g/t Au approximately 100 metres below the current resource limit, with supporting holes in the area returning additional mineralised intervals.

At the Panama Mine, infill drilling was conducted within the existing resource to improve data density between existing drill holes. This process supports the conversion of Inferred Resources into the Indicated and Measured categories required for Mineral Reserve estimation. Drilling returned 4.4 metres at 8.9 g/t Au, including a higher-grade core of 1.0 metre at 18.4 g/t Au.

Both the La Reforma and Panama programmes feed directly into future resource and reserve updates. Results will be incorporated into the company's resource models as sufficient drilling density is achieved.

Outlook

The 2026 drilling programme at the Nicaragua Property is being carried out across ten rigs, comprising eight company-owned and two contracted units. The programme targets 75,000 metres across multiple areas within the property.

VP of Exploration Carlos David Rios added:

"We are simultaneously increasing mineral resource confidence near current operations, extending the main vein systems through step-out drilling, and testing a series of brownfield targets across our land package."

Planned next steps include continued drilling at Xiloa through the second and third quarters of 2026, ongoing infill work at Panama to support Mineral Reserve conversion, and further resource delineation across the Porvenir District. Updated resource estimates incorporating these results are expected to follow as the programme advances.

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