Q3-2025 copper production of 14.6 million pounds2025 copper production estimated to be 2% to 5% below guidance. Cash cost1 guidance remains in placePositioned to eliminate remaining debt in Q4-2025$3.5 million returned through Dividends in Q3-2025 VANCOUVER, British Columbia, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) is pleased to announce operational results for the quarter ended September 30, 2025 (“Q3-2025”) from Minera Valle Central (“ ...

Core Viewpoint - A seismic event at the El Teniente mine has led to a tragic rockfall, resulting in the death of six workers and the suspension of operations, which will impact Amerigo Resources' production capabilities at Minera Valle Central (MVC) [2][3]. Company Overview - Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Codelco, the world's largest copper producer, focusing on producing copper and molybdenum concentrates from tailings [4]. Operational Impact - The rockfall at El Teniente has caused a suspension of fresh tailings supply to MVC, leading the company to process historic tailings instead [3][8]. - The estimated daily loss of copper production at MVC is approximately 100,000 pounds, but the overall impact on annual production guidance remains uncertain and will depend on the duration of the suspension at El Teniente [3][8]. Response to Incident - Following the rockfall, Codelco initiated search and rescue operations and suspended mining activities at El Teniente. Chile's President declared three days of national mourning in response to the incident [2][3].

Core Viewpoint - Surge Copper Corp. has successfully completed metallurgical testwork for its Berg Project, achieving over 90% recovery rates for copper and molybdenum, confirming the effectiveness of conventional flotation processes and the quality of final products [1][6][10]. Group 1: Testwork Overview - The metallurgical program was initiated following a successful Preliminary Economic Assessment (PEA) and involved over 1,350 kilograms of material to create three primary composites representing different mineral zones [3][7]. - The testwork aimed to improve recovery profiles and validate flotation performance across various lithologies, with 27 variability composites created to assess recovery correlations [4][5]. Group 2: Recovery Results - Locked cycle testing achieved up to 90.7% copper and 93.0% molybdenum recovery to a bulk concentrate grading 29.7% copper [7][13]. - Excellent copper-molybdenum separation was confirmed, with molybdenum recoveries of 94.6% and 95.6% from bulk concentrates across hypogene and supergene composites, respectively [7][15]. Group 3: Economic Implications - The results validate the flowsheet used in the PEA, indicating potential for higher expected metal recoveries compared to the conservative estimates of 80% for copper and 75% for molybdenum [9][10]. - The project is positioned as a technically robust, high-margin asset, with the testwork reinforcing the disconnect between the project's fundamental value and market perception [10][20]. Group 4: Future Plans - Surge plans to refine geometallurgical modeling of the Berg deposit to enhance recovery rates, particularly by better delineating supergene and hypogene mineralization [20]. - Additional testing will include optimization for precious metals and further exploration of flow sheet opportunities, such as HPGR and coarse particle flotation [22]. Group 5: Company Background - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning multiple advanced porphyry deposits with compliant resources of copper, molybdenum, gold, and silver [26][27]. - The Berg Project is highlighted for its large-scale, long-life potential, with a base case NPV of C$2.1 billion and an IRR of 20% based on long-term commodity prices [27].

Group 1: Appointment of Ignacio Cruz - Amerigo Resources Ltd. has appointed Ignacio Cruz to its board of directors [1] - Ignacio Cruz is a Civil Engineer with over 40 years of experience in the mining, energy, and civil society sectors [2] - His previous roles include Executive Chair of TECHO International and CEO of Colbún S.A., as well as 14 years with Antofagasta Minerals [2] Group 2: Experience and Contributions - Cruz has a distinguished career in leading organizations, managing complex financial structures, and developing sustainable strategies [3] - He has served on the boards of various business and philanthropic organizations in Chile and is an international speaker on topics related to strategic management and sustainability in mining [4] - The company anticipates benefiting from Cruz's extensive experience and insights into mining operations in Chile [5] Group 3: Company Overview - Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Codelco, the world's largest copper producer [6] - The company produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile [6]