Daura Gold Commences Exploration at Latin Metals’ Cerro Bayo Project, Santa Cruz Province, ArgentinaAnnounces $1.79 Million Option and Warrant Exercise VANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") (TSXV: LMS) (OTCQB: LMSQF) reports that option partner Daura Gold Corp. ("Daura") (TSXV: DGC) has commenced induced polarization ("IP") geophysical surveying across the Cerro Bayo gold-silver project (the "Project") (Figure 1) in the Deseado Massif, Santa Cruz Province, Argentina. Daura has an option (the "Option") to earn up to 80% interest in the Project (see previous news release dated November 3, 2025), and the geophysical work forms part of Daura’s initial commitments under the Option. Program Highlights Pole–Dipole IP profiling and gradient array surveys underway across priority structural corridors.IP will refine nine high-priority, fully permitted drill target areas previously defined through geochemistry, mapping, IP, and >100 line-km of magnetics.Drilling preparation ongoing; Daura is preparing for a 1,500-meter initial drill program beginning in early 2026. Advancing a Fully Permitted, High-Grade System Cerro Bayo is fully drill-permitted following the approval of the Environmental Impact Assessment ("EIA") (Informe de Impacto Ambiental Etapa de Exploracion Cerro Bayo), in March 2025, authorizing 21 drill platforms. Previous work, including mapping, rock sampling, and a detailed magnetic survey — has defined a 6-kilometre-wide structural basin with multiple low-sulfidation epithermal vein targets. Daura’s current IP work is designed to refine the geometry of silicified and resistive zones identified in earlier surveys, providing improved resolution ahead of drilling. These features are consistent with preserved upper levels of a low-sulfidation epithermal system, similar to those hosting high-grade deposits elsewhere in the Deseado Massif. Keith Henderson, President & CEO, commented:"Our partnership with Daura Gold continues to advance Cerro Bayo. Geophysical surveying marks the next step toward early-2026 drilling and reinforces the strength of our prospect generator strategy. We are pleased to see rapid progress toward testing these high-grade epithermal targets while preserving shareholder value." Figure 1: Location of extensive Induced polarization surveys at Cerro Bayo Strategic Position in the Deseado Massif Cerro Bayo and La Flora are located in the heart of the Deseado Massif, a prolific region with over 600 million ounces of silver and 20 million ounces of gold discovered since 1990.(1) The district hosts multiple producing mines and advanced-stage projects, including: Newmont’s Cerro Negro Mine (~7 Moz AuEq) (2)Hochschild’s San Jose Mine (~64 Moz AgEq) (3) Cerro Bayo’s geological setting, structural controls, and alteration footprint are consistent with known high-grade gold-silver systems in the region. Readers are cautioned that the mineral deposits discussed above are adjacent properties and that Latin Metals has no interest in or right to acquire any interest in the deposits, and that mineral deposits on adjacent or similar properties, and any production therefore or economics with respect thereto, are not in any way indicative of mineral deposits on Latin Metals’ Cerro Bayo property or the potential production from, or cost or economics of, any future mining of any of Latin Metals’ mineral properties. Daura Option Payment Received The Company also reports that pursuant to the Option, it has received payment of US$200,000, paid in shares at Daura’s election, resulting in the issuance to Latin Metals of 744,992 common shares of Daura, at a deemed price of $0.37. Warrant and Option Exercises Latin Metals also reports that it has received aggregate proceeds of approximately $1.79 million, consisting of $0.57 from the exercise of stock options and $1.22 million from the exercise of warrants. A significant portion of the warrants were exercised at prices effectively at prevailing market levels, reflecting continued shareholder confidence in the Company’s strategy. The Company operates with a disciplined annual budget aimed at minimising shareholder dilution. With these proceeds added to the treasury, Latin Metals is well-funded moving into 2026. Keith Henderson, President and CEO of Latin Metals, commented: "We appreciate the continued support from shareholders, directors and management who have exercised their options and warrants. These proceeds strengthen our balance sheet as we progress key corporate initiatives, including the proposed spin-out transaction. " About Latin Metals Latin Metals Inc. is a copper, gold and silver exploration company operating in Peru and Argentina under a prospect generator model, minimizing risk and dilution while maximizing discovery potential. With 18 projects, the company secures option agreements with major mining companies to fund exploration. This approach provides early-stage exposure t