Mineros' Nicaragua Drilling Programme Uncovers New Gold Zone and Confirms Growth Across the Hemco Property

• The Momotombo target, a new discovery located 2.5 km from the Porvenir Project, returned grades of up to 68.42 g/t (grams per tonne) gold over 2.90 metres, confirming a high-grade zone with no prior resource estimate assigned.
• Momotombo spans approximately 400 metres and remains open at depth, suggesting the zone could grow significantly with further drilling.
• At the Porvenir Project, the Leticia vein system intersected 36.58 g/t gold over 3.70 metres, while Guillermina returned 13.90 metres grading 10.22 g/t gold, with both systems also carrying silver, zinc, and copper.
• A newly identified Apoyo vein system extended known mineralisation to the northeast, adding a third growth area within the Porvenir Project boundary.
• Infill drilling at the Pioneer and Panamá Mines confirmed high-grade continuity within active mining areas, reinforcing near-term production planning at both operations.

Mineros S.A. (TSX: MSA, OTCQX: MNSAF, BVC: MINEROS) is a Medellín-based Latin American gold mining company with operations in both Colombia and Nicaragua, complemented by a portfolio of development and exploration projects across the region. In Nicaragua, operations are centred on the Hemco Property, a contiguous land package of approximately 151,389 hectares situated about 230 kilometres northeast of Managua. The property sits within one of Central America's most prolific epithermal gold systems, a geological setting recognised for hosting multiple gold deposits over a wide area, and benefits from established infrastructure, reliable access, and a mining-friendly regulatory environment.

A New Discovery Takes Shape at Momotombo

The most notable outcome of the 2025 drilling programme is the identification of a new mineralised zone at the Momotombo target, located 2.5 kilometres northwest of the Porvenir Project. Initial drilling, combined with surface trenching and geological mapping, has outlined approximately 400 metres of strike length, which refers to the horizontal distance over which mineralisation has been traced at surface. The zone remains open at depth, meaning it has not yet been fully tested downward and could extend further with additional drilling.

Drill results from Momotombo were notably high-grade. Hole BPPDDH_25_1 returned 2.90 metres grading 68.42 g/t gold and 208 g/t silver, while hole BPISDD_25_2 intersected 3.25 metres at 28.23 g/t gold and 281 g/t silver. For context, many commercial gold mining operations work with average grades of between one and five g/t, making results in the range of 28 to 68 g/t gold particularly compelling. The silver content in both holes also adds incremental value beyond gold alone.

Momotombo sits within the broader Hemco Property land package and has no formal resource estimate assigned to it yet. The 2025 work represents the initial phase of a discovery, with the Company designating it as a priority target for follow-up drilling in 2026. Until additional drilling defines the zone's continuity and scale, the results to date reflect early-stage findings that warrant further investigation rather than conclusions about its ultimate size or value.

Porvenir's Growth Potential Comes Into Sharper Focus

The Porvenir Project is Mineros' primary development-stage asset in Nicaragua, and the 2025 programme added further evidence of both its scale and quality. Drilling focused on three vein systems, which are tabular bodies of mineralised rock running through the ground at various angles, within the project area: Guillermina, Leticia, and the newly identified Apoyo system. Each returned results that confirm vertical depth extensions and lateral reach beyond what was previously documented.

At the Leticia vein, hole BLDDH_25_43 intersected 3.70 metres grading 36.58 g/t gold, 130 g/t silver, 4.58% zinc, and 4.61% copper. At Guillermina, hole BGUIDDH_25_63 returned 13.90 metres at 10.22 g/t gold, 53 g/t silver, 9.17% zinc, and 0.41% copper. The presence of multiple metals in a single intersection, referred to as polymetallic mineralisation, adds potential economic value beyond what gold grades alone would suggest. The newly identified Apoyo system extended the mineralised footprint to the northeast, opening up a third area for future resource definition within the same project.

None of these new intersections are yet included in Porvenir's formal mineral resource estimate, which means they represent upside potential that sits outside current published numbers. As Mineros continues to test these vein systems at depth and along strike, the results could support a larger resource update in the future. For investors tracking the project's development trajectory, the 2025 results suggest the resource base has room to grow meaningfully from where it stands today.

Infill Drilling Supports Confidence at Operating Mines

While the exploration results at Momotombo and Porvenir draw considerable attention, the infill drilling programme at Mineros' two producing mines, Pioneer and Panamá, is equally important from a near-term value standpoint. Infill drilling refers to closely spaced drilling within an already-known ore body, designed to improve grade confidence and provide the detailed data needed for short-term mine planning.

At the Pioneer Mine, drilling confirmed high-grade continuity within the La Reforma vein system. Hole BPIODD_25_2261 returned 2.35 metres at 26.55 g/t gold, and hole BPIODD_25_2251 intersected 12.65 metres at 8.53 g/t gold. At the Panamá Mine, drilling confirmed and locally extended mineralisation within the Capitán FW and Atlas vein systems. All results are being added to the Company's geological database to support future updates to mine plans at both operations.

The value of this work extends beyond the drill results themselves. Consistent high-grade intersections within active mining areas give management greater confidence in production forecasting and support efforts to extend the life of each mine.

Vice President of Exploration for Mineros, Carlos David Rios commented:

"Record gold production in 2025 demonstrates the strength of our operating assets. This performance, combined with the prospectivity of the Hemco Property land package, allows us to advance the most ambitious exploration programme in Mineros' history. With over 75,000 metres of drilling planned and an expanded soil sampling programme underway, we are well-positioned to expand our known mineralisation across this district."

What Comes Next

The 2025 drilling campaign delivered results across three distinct fronts: a new high-grade discovery at Momotombo, extended mineralisation across Porvenir's vein systems, and confirmed grade continuity at both producing mines, collectively reinforcing the Hemco Property's standing as a district with a compelling combination of near-term production and longer-term growth. With the 2025 programme now concluded, Mineros has committed to an expanded 2026 campaign targeting over 75,000 metres of drilling across the property, alongside a broader soil sampling effort. Momotombo will be treated as a priority target as the Company works to define its full scale, while continued drilling at Porvenir's Guillermina, Leticia, and Apoyo systems is expected to support a future resource update. For investors, the 2026 programme represents the clearest near-term catalyst to watch as the Company works to convert its growing body of drill results into formally recognised mineral resources.

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