Peruvian Metals Announces the 10-Year Renewal of the Use of Surface Rights at the Aguila Norte Processing Plant

Peruvian Metals Corp has successfully renewed the surface rights lease for its Aguila Norte processing plant in Northern Peru for an additional 10 years, providing operational certainty through 2036. The 80%-owned facility, located on a 120-hectare concession, operated at full capacity in 2025 by processing 36,616 tonnes of material. The plant currently operates at 100 tonnes per day but holds environmental permits allowing expansion to 350 tonnes per day, which the company now plans to pursue through engineering studies.

The expansion timing aligns strategically with expected increased mineral delivery from Peruvian Metals' 100%-owned Palta Dorada Au-Ag property, located 120 kilometers southeast of Aguila Norte. Recent metallurgical testing of sulphide material from Palta Dorada demonstrated strong economics, with head grades of 8.3 grams Au/tonne achieving 89% gold recovery rates. This represents a significant operational advantage as precious metals concentrates from Palta Dorada will be 100% owned by the company, unlike the current toll milling arrangements.

The renewed lease also positions Peruvian Metals to explore additional opportunities within the Aguila Norte concession area. Historical sampling by AndeanGold in 2009 identified promising mineralization in nearby workings, with 31 samples averaging 4.81 g/t Au, 41.7 g/t Ag, and 0.51% Cu. Recent company sampling of a second vein system immediately adjacent to the plant returned encouraging results averaging 6.24 g/t Au across seven grab samples. These targets provide near-term exploration upside within the existing permitted area.

The announcement reflects Peruvian Metals' strategic positioning to capitalize on current precious metals prices and Peru's regulatory framework supporting small-scale mining operations. With over 30 years of in-country experience, the company has built a sustainable business model combining toll milling services with development of its own high-grade mineral properties, creating multiple revenue streams while maintaining operational flexibility in a favorable regulatory environment.