Mexican Gold Mining Corp. to Effect Share Consolidation and Name Change and Announces Closing of $2,299,000 Subscription Receipt Financing

Mexican Gold Mining Corp. (TSXV: MEX) is pleased to announce the closing of its previously announced non-brokered private placement of 11,495,000 subscription receipts (each, a "Subscription Receipt") at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $2,299,000 (the "Concurrent Financing"). Upon completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") pursuant to the arrangement agreement dated April 8, 2026 (the "Arrangement Agreement"), whereby the Company will acquire all of the issued and outstanding common shares of Alcon Silver Corp. ("Alcon"), each Subscription Receipt will automatically convert into one unit of the Company (each, a "Unit"), with each Unit consisting of one common share of the Company (on a post-Consolidation basis) and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). The Subscription Receipts and the securities issuable thereunder have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from registration. All securities issued pursuant to the Concurrent Financing are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. Jack Campbell, CEO and Chairman of the Company, subscribed for 300,000 Subscription Receipts under the Concurrent Financing. The subscription by Mr. Campbell was considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such subscription was exempt from the formal valuation requirement of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 and the minority...