Mogotes Metals Provide Update on Option Agreement

Core Viewpoint - Mogotes Metals Inc. has provided an update regarding its option agreement to purchase 100% of certain mining concessions known as "La Perla Uno a Diez" in Chile, with a structured payment plan over the next four years [1][2]. Payment Structure - The total payments to exercise the option include: 1. Cash payments totaling US$200,000 over four years [2] 2. Issuance of 411,764 common shares at $0.20 per share by July 25, 2025 [2] 3. Additional common shares equivalent to US$70,000 to be issued by July 29 for the years 2026, 2027, 2028, and 2029 [2]. Share Issuance Terms - The number of common shares to be issued will be determined using the Bank of Canada exchange rate prior to issuance, with a minimum price of $0.20 per share [3]. - If the trading price is below the minimum price at the time of payment announcement, the number of shares issued will be adjusted accordingly, and any shortfall can be paid in cash [4]. Company Overview - Mogotes Metals Inc. is focused on mineral exploration for copper and gold in Argentina and Chile, with its flagship project, Filo Sur, located near significant copper-gold-silver discoveries [5].