Mineros Raises 2026 Gold Guidance a Second Time as Hemco Output Climbs 18.5%

• Mineros produced 62,565 ounces of gold in the third quarter of 2026, up 14.0% from the third quarter of 2025, and 181,466 ounces in the first 9 months, up 11.3%.
• Full-year 2026 gold production guidance rose to 235,000 to 245,000 ounces from 220,000 to 240,000 ounces, the second increase this year.
• Hemco produced 38,010 ounces of gold, up 18.5%, and held stockpiles of 121,864 metric tons containing about 18,856 ounces of gold as of September 30, 2026.
• Nechí produced 24,555 ounces of gold, up 7.8% on improved recovery, while 1,585 ounces were in transit as of September 30, 2026, under new concentrate handling.
• Results are preliminary, with full financial statements and Management's Discussion and Analysis due November 11, 2026.

Company Overview

Mineros (TSX: MSA | BVC: MINEROS | OTCQX: MNSAF) is a Latin American gold mining company headquartered in Medellín, Colombia. The company operates a diversified portfolio of assets in Colombia and Nicaragua and maintains a pipeline of development and exploration projects across the region, including the Porvenir polymetallic project within the Hemco Property in Nicaragua, the La Pepa Project in Chile, and an exploration project in the Tolima department near Cajamarca, Colombia. Mineros has more than 50 years of operating history.

Third-Quarter Output Rises 14.0% to 62,565 Ounces

Mineros reported consolidated gold production of 62,565 ounces for the 3 months ended September 30, 2026, up 14.0% from the third quarter of 2025. Production for the first 9 months of 2026 reached 181,466 ounces, up 11.3%. Gold sales totaled 61,281 ounces, up 11.7%, and gold equivalent sales, which add silver sold converted into gold ounces at average realized prices, reached 64,544 ounces, up 15.0%. The company began reporting production and sales separately this quarter, a breakdown it did not provide in earlier quarters.

Hemco Delivers Higher-Grade Ore & Builds Stockpiles

Gold production at the Hemco Property in Nicaragua increased 18.5% to 38,010 ounces in the third quarter, bringing production for the first 9 months to 114,344 ounces, up 19.0%. Higher-grade ore, together with continued plant optimization and expansion work, drove the growth.

Hemco gold sales rose 18.9% to 38,135 ounces, and silver sales rose 114.6% to 210,380 ounces. At September 30, 2026, stockpiles totaled 121,864 metric tons containing approximately 18,856 ounces of gold, which provides additional ore for future processing and subsequent gold sales.

Nechí Recovery Gains Outpace Sales Growth

Gold production at the Nechí Property in Colombia increased 7.8% to 24,555 ounces from 22,783 ounces in the third quarter of 2025. Improved gold recovery was the principal driver.

Nechí gold sales rose 1.6% to 23,146 ounces, trailing production because of the introduction of concentrate handling. As of September 30, 2026, 1,585 ounces of Nechí gold were in transit pending sale. The concentrates project is an internal pilot-level initiative developed to improve recovery rates, with implementation beginning in July.

Guidance Raised for the Second Time in 2026

Mineros raised its full-year 2026 consolidated gold production guidance to 235,000 to 245,000 ounces from 220,000 to 240,000 ounces. The increase follows the July revision from 213,000 to 233,000 ounces to 220,000 to 240,000 ounces, and the new range reflects operational improvements at both properties.

By property, Nechí guidance moved to 87,000 to 93,000 ounces from 83,000 to 93,000 ounces. Hemco guidance moved to 148,000 to 152,000 ounces from 137,000 to 147,000 ounces.

President and Chief Executive Officer of Mineros, Daniel Henao, tied the guidance increase to operating results at both properties:

"The growth recorded at Hemco and Nechí reflects sustained work to improve operating performance across the portfolio. At Hemco, we delivered higher gold output and built ore inventories for future processing as optimization and expansion work continued. At Nechí, improvements in gold recovery supported higher production. The consistency of these results gives us the confidence to raise our 2026 gold production guidance for the second time this year, to 235,000 to 245,000 ounces, while remaining focused on disciplined investment."

Next Steps

Mineros will release its full third-quarter 2026 financial statements and Management's Discussion and Analysis on November 11, 2026. The disclosure will include final gold and silver revenue, realized prices, and unit costs. The figures in this update are preliminary.

Hemco stockpiles provide additional ore for future processing and subsequent gold sales, and expansion work at the property is ongoing. The revised guidance assumes continued operating availability, access to ore feed, execution of planned capacity improvements, and the availability of equipment, personnel, and required permits.

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