Mineros Lifts 2026 Gold Production Guidance Following Higher Third-Quarter Output

• Q3 2026 consolidated gold production of 62,565 ounces, up 14.0% year-over-year.
• Hemco (Nicaragua) produced 38,010 ounces, up 18.5%, and Nechí (Colombia) produced 24,555 ounces, up 7.8%.
• Full-year 2026 guidance raised to 235,000 to 245,000 ounces, the second increase this year.
• Nine-month 2026 production of 181,466 ounces, up 11.3%.
• Full Q3 financial results scheduled for November 11, 2026.

Mineros S.A. (TSX:MSA) is a Colombia-based gold producer headquartered in Medellín with an operating history of more than 50 years. It operates mines in Colombia and Nicaragua and holds development and exploration projects in the region, including the Porvenir development asset in Nicaragua, the La Pepa Project in Chile and the Tolima Project in Colombia. Its shares are also listed on the Colombia Stock Exchange and trade on the OTCQX Best Market.

Q3 2026 Production Rises at Both Hemco and Nechí

Mineros produced 62,565 ounces of gold in the quarter ended September 30, 2026, compared with 54,862 ounces a year earlier. Gold sales rose 11.7% to 61,281 ounces. Gold equivalent sales, which convert silver sold into its gold value, increased 15.0% to 64,544 ounces.

At Hemco, higher-grade ore and continued plant optimisation and expansion work lifted production 18.5% to 38,010 ounces. Gold from the Bonanza Mining Partners (BMP) programme rose 22.7% to 32,511 ounces, and silver production increased 78.0% to 174,506 ounces. 

President and CEO Daniel Henao said:

“At Hemco, we delivered higher gold output and built ore inventories for future processing as optimization and expansion work continued.” 

Stockpiles at September 30 totalled 121,864 tonnes containing approximately 18,856 ounces of gold.

At Nechí, production increased to 24,555 ounces from 22,783 ounces, mainly due to improved recovery, the share of gold successfully extracted from processed material. Nechí gold sales of 23,146 ounces were lower than production because of a pilot concentrate handling project introduced in July to improve recovery rates, which left 1,585 ounces of gold in transit pending sale at quarter end.

Full-Year Guidance Raised for the Second Time in 2026

Mineros has increased its 2026 consolidated gold production guidance to 235,000 to 245,000 ounces, from 220,000 to 240,000 ounces. The previous range was set in July, when guidance was raised from an initial 213,000 to 233,000 ounces. The two revisions lift the guidance midpoint from 223,000 ounces to 240,000 ounces, an increase of about 7.6%.

Hemco guidance is now 148,000 to 152,000 ounces, up from 137,000 to 147,000 ounces. Nechí guidance is 87,000 to 93,000 ounces, with the lower end raised from 83,000 ounces. 

President and CEO Daniel Henao said:

“The growth recorded at Hemco and Nechí reflects sustained work to improve operating performance across the portfolio.”

Based on nine-month production of 181,466 ounces, the revised range implies fourth-quarter output of approximately 53,500 to 63,500 ounces. Production through September represents about 76% of the midpoint of the revised guidance.

Nine-Month Production Up 11.3% With Full Results Due November 11

Production for the first nine months of 2026 reached 181,466 ounces, compared with 163,011 ounces in the same period of 2025. Hemco contributed 114,344 ounces, up 19.0%, and Nechí contributed 67,122 ounces, up 0.4%. Gold sales over the period increased 9.7% to 178,770 ounces, and gold equivalent sales rose 12.9% to 187,177 ounces.

From Q3 2026, Mineros reports production and sales separately for each property, a breakdown not provided in previous quarters. Hemco silver sales for the nine months totalled 518,849 ounces, up 114.5%.

The results reported to date are preliminary. Mineros will release its full Q3 2026 financial statements and Management’s Discussion and Analysis (MD&A), the report in which management explains financial performance, on November 11, 2026. The release will include final gold and silver revenue, realised prices and unit costs, which measure the cost of producing each ounce.

Milestones and Next Steps

Mineros has recorded higher quarterly production at both operating properties and raised its annual guidance twice in 2026. Upcoming milestones include the November 11 financial results, processing of the Hemco ore stockpiles, continued optimisation and expansion work at Hemco, and further implementation of the concentrate handling project at Nechí.

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