AngloGold Ashanti Terminates Option for Organullo Gold Project, Salta Province, Argentina

Core Viewpoint - Latin Metals Inc. announces the termination of its option agreement with AngloGold Argentina Exploraciones S.A. for the Organullo project, effective January 27, 2026, due to a shift in AngloGold's global exploration strategy [1][2]. Group 1: Project Details - The Organullo project remains 100%-owned by Latin Metals and is fully drill-permitted, with multiple untested targets for high-sulphidation gold and porphyry copper-gold mineralization [2]. - AngloGold had invested approximately US $3.3 million in exploration and permitting activities during the option period [3]. - The project includes advanced argillic alteration zones extending along a 6 km strike length, with strong potential for a significant gold discovery supported by various geological data [2][3]. Group 2: Market Context - Gold prices have significantly increased, exceeding US $4,000 per ounce in 2025, compared to US $1,800 per ounce in 2022 when the option agreement was signed, enhancing the attractiveness of the Organullo project [2]. - The geological setting of Organullo has been compared to Salares Norte in Chile, a high-grade gold deposit, indicating potential for a multi-million-ounce discovery [2][4]. Group 3: Company Strategy - Latin Metals operates under a prospect generator model, minimizing risk and dilution while maximizing discovery potential across its 18 projects in Peru and Argentina [6]. - The company aims to secure new partners to advance the Organullo project following AngloGold's withdrawal, leveraging the improved market conditions for gold [2].