Mineros Reports Upper-End Production Results for 2025

• Full-year 2025 production of 221,656 ounces of gold reached the upper end of annual guidance
• December 2025 production of 20,667 ounces of gold equivalent in Nicaragua set a new monthly record for the operations
• Colombian operations at Nechí produced 89,777 ounces, approximately 9% above 2024
• Nicaraguan operations produced 131,879 ounces of gold, at the upper end of guidance
• Fourth quarter production totalled 58,644 ounces of gold

Mineros S.A. (TSX:MSA) is a Latin American gold mining company based in Medellin, Colombia. The company operates mines in Colombia and Nicaragua, with development and exploration projects in the region including the La Pepa Project in Chile. 

Record December and Full-Year 2025 Production Performance

Mineros produced 20,667 ounces of gold equivalent in December 2025 at its Nicaraguan operations, a new monthly record for the asset. Total production for 2025 reached 225,846 ounces of gold equivalent, with gold production of 221,656 ounces meeting the upper end of the company's annual guidance range.

Fourth quarter production totalled 58,644 ounces of gold. The company reported that results were achieved while maintaining safety, occupational health, and environmental management standards. Silver production for the year reached 364,888 ounces, representing a byproduct of gold mining operations.

President and Chief Executive Officer Daniel Henao stated:

"This performance is beginning to reflect the impact of multiple operational improvement initiatives, supported by our continued focus on efficiency and execution. We remain confident in our ability to generate sustainable value for shareholders."

Operational Improvements and Efficiency Initiatives

Production in 2025 was driven by improved processing plant throughput and preferential treatment of higher-grade artisanal ores at the Nicaraguan operations, combined with output from Colombian operations. The company cited enhanced equipment availability and optimised production scheduling as contributing factors to performance.

At the Nechí Alluvial Property in Colombia, improved equipment availability and operating efficiency supported the production increase over 2024 results. In Nicaragua, the company is working on initiatives to address processing plant bottlenecks with the aim of increasing capacity and improving cost efficiency.

The company has not disclosed specific details regarding capital expenditure on these initiatives or quantified cost savings achieved. Further information on operational costs and financial performance will be available in the fourth quarter and full-year results scheduled for release in February 2026.

Regional Production Breakdown by Asset

The Nechí Alluvial Property in Colombia produced 89,777 ounces of gold in 2025, at the upper end of guidance and approximately 9% higher than 2024. The property uses alluvial mining methods to extract gold from surface deposits.

Operations in Nicaragua produced 131,879 ounces of gold for the year, also reaching the upper end of guidance. The December monthly record contributed to this total. The Nicaraguan operations include underground mining and processing facilities.

Combined production from both countries accounted for the company's total gold output of 221,656 ounces. The company operates in two jurisdictions, with the Colombian operations representing approximately 40% of total gold production and Nicaraguan operations representing approximately 60%.

Looking Ahead

Mineros will release fourth quarter 2025 and full-year 2025 financial and operating results on 18 February 2026. Senior management will host a conference call on 19 February 2026 at 9:00 AM Eastern Standard Time. Registration details for the call will be provided ahead of the event.

The company has not yet released guidance for 2026 production or capital expenditure. Further details on operational plans and financial outlook are expected to be disclosed during the February results announcement and conference call.

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