Mogotes Closes Season at Filo Sur with New Porphyry Targets at Luz del Sol and Cuenca; Plans 20,000 m of Drilling for 2026-2027

Toronto, Ontario--(Newsfile Corp. - September 4, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) ("Mogotes" or the "Company") today reports final results from the 2025–2026 field season at its Filo Sur project in the Vicuñ a district of Argentina and Chile, new drill and channel-sample results from the Luz del Sol and Cuenca targets, and outlines a 20,000-metre drill program for 2026–2027.

HIGHLIGHTS

Two discoveries in one season, both on the Macho Muerto Fault Zone (MMFZ): the high-grade Albor breccia (180 m at 0.98% CuEq from 108 m, including 58 m at 1.77% CuEq, FS_DDH_016) and the Cruz del Sur gold-copper porphyry (308 m at 0.46% CuEq and 334 m at 0.45% CuEq, FS_DDH_006). Cuenca porphyry target grows to 1.3 km × 0.5 km: road-cut channel sampling returned 153 m averaging 0.31 g/t Au and 0.11% Cu from 4 separate road segments that cover a total linear distance of 297 m, including 54 m at 0.46 g/t Au and 0.14% Cu. New porphyry drill target at Luz del Sol: FS_DDH_013 and FS_DDH_015 cut leached, high-level breccias with anomalous copper directly above a strong IP chargeability anomaly – to be drilled in 2026–2027. Drilling to more than triple: 6,208 m completed in 2025–2026; up to 20,000 m planned for 2026–2027 to extend Albor and Cruz del Sur and make the first porphyry tests at Luz del Sol-Cuenca and Meseta.

Luz del Sol: Drilling Defines a New Porphyry Target Drilling at Luz del Sol, south of the Filo del Sol deposit, has defined a new porphyry drill target immediately east of FS_DDH_015 (Figures 1 and 2). Holes FS_DDH_013 and FS_DDH_015 were designed to test a large magnetotelluric (MT) conductor that coincides with an extensive zone of silica-clay alteration - a classic signature of the upper levels of a porphyry system. Both holes intersected anomalous copper associated with porphyry dikes and hydrothermal breccias within the MMFZ: FS_DDH_013 returned 18 m at 0.21% Cu from 216 m, and FS_DDH_015 returned 24 m at 0.16% Cu from 179 m and 20.5 m at 0.15% Cu from 218.5 m (Table 1). These grades are not economic, but they are the vectors expected on the flanks of a porphyry system. The silica-clay-white mica alteration at Luz del Sol sits higher in the system than the strong potassic alteration that hosts the Albor breccia in FS_DDH_016 (180 m at 0.98% CuEq; see news release dated July 9, 2026 ), and mineralization in FS_DDH_015 has been partly leached near surface, with minor secondary copper enrichment. Figure 1 Plan view of the Meseta, Luz del Sol, Albor and Cuenca targets, showing the drill holes reported in this release and the new road-cut channel assays. Dashed yellow outline is the expanded Cuenca porphyry target (1.3 km × 0.5 km). To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10597/312885_mogotes1.jpg The new target is defined by a strong induced polarization (IP) chargeability high (35 to >45 ms) – a geophysical response typically produced by sulphide minerals – that sits directly beneath and beside the oxidized, leached breccias in the upper part of FS_DDH_015. The zone of higher MT conductivity partly overlaps the secondary copper enrichment within the MMFZ (Figure 2). Three observations point to a porphyry source nearby. Some breccia fragments in FS_DDH_015 carry strong potassic alteration (fine K-feldspar replacement and magnetite veining); others are cut by sericite–pyrite ("D-type") veinlets; and the mapped quartz stockwork veining and anomalous gold-copper channel samples at surface all sit above the chargeability high. Together they suggest a deeper porphyry that may come close to surface east of the MMFZ. The target will be drilled in 2026–2027. Figure 2 Section through FS_DDH_015 (A-A′ on Figure 1) showing the new road-cut channel assays (Table 1) and the IP chargeability high that defines the new porphyry drill target east o...