Vicuña: Drilling at Filo Sur Project to Commence
Mogotes Metals Inc.
#401, 217 Queen St. W.
Toronto, ON M5V0R2
Canada
T + 1(647) 846-3313
NEWS RELEASE
Vicuña: Drilling at Filo Sur Project to Commence
October 9, 2025 - Mogotes Metals Inc. (TSXV: MOG, FSE:OY4, OTCQB: MOGMF) (“Mogotes”, or the “Company”) is
pleased to announce that drilling of key priority targets will commence in the coming weeks on the Company’s Filo
Sur project. The project and targets are located on trend to the south of the large BHP/Lundin Filo Del Sol (FDS)
resource1 and the Company intends to drill from the selection of high priority targets for Porphyry Copper (PCD) and
High Sulfidation Epithermal (HSE) gold – silver mineralization (Figure 1 below).
CEO Allen Sabet commented:
“The results of 3 field seasons of work and significant time and exploration has been the identification of multiple new
and exciting drill targets for Mogotes. We are now mobilising to start our drilling campaign and expect to have drills
turning in a matter of weeks. The team look forward to sharing updates as the season progresses!”
The Mogotes technical team has mobilised to the field camp in Argentina and initiated pre -drill activities, including
road clearance, infrastructure setup and supplier coordination.
The Company will operate up to two drill rigs this season, targeting an initial programme of approximately 5,000
metres of diamond drilling. The first rig is scheduled to arrive within three weeks and will begin on the southern,
lower-elevation targets at Cruz del Sur and Stockwork Hills.
As the season progresses, the programme will extend to additional priority targets highlighted in Figure 1, with
permitting and access works advancing in parallel. The campaign will remain adaptive as results from the initial holes
and the concurrent surface exploration programme inform ongoing targeting.
Below is a recap of key targets at the Filo Sur project advanced in the prior field season and previously released to
the market. In the coming weeks, we will provide further information and updated geochemical results for several
areas, including the Camino and Rincon targets.
Los Mogotes – Porphyry Cu Target
1. Directly on trend 2.5 km South of Filo del Sol resource that is open1 towards the Mogotes Claims.
2. Large scale 1600m x 800m ( <100 Ohm.m resistivity) anomaly in 3D MT/IP geophysical model (Figure 3a).
3. Relatively near surface at 200 to 500m depth to top of target.
4. MT/IP resistivity anomaly is centred within larger IP chargeability halo of 30 to 90 ms, consistent with a
potential pyrite halo to concealed porphyry mineralisation.
5. Rock chip copper and alteration anomaly overlies the MT/IP geophysical anomaly (see May 7, 2025 news
release).
See Figure 2, Figure 3 below.
Meseta – High Sulphidation Epithermal Au-Ag (Cu) Target + Deeper Conceptual Porphyry Target
1. Target footprint 1000m x 400m as defined by the projected to surface trace of a 2,000 to
>10,000 Ohm.m MT/IP resistivity anomaly (Figure 4).
2. The top of the resistor lies at +100m below surface but locally projects to surface where Mogotes has
mapped quartz-alunite altered breccias with vuggy silica and locally porphyry veined clasts supporting the
concept that the covered resistivity may also be related to quartz-alunite alteration representing an attractive
conceptual HSE precious metal target.
3. The previously reported quartz -alunite alteration and rock chip Au -Ag assays with strong Sb, As,
Ba, Te epithermal path finder elements, overlie the MT/IP anomaly at Meseta. Mogotes rock chip sampling
has returned assays up to 1.48 g/t Au, 18.8 g/t Ag from these breccia, that may represent geochemical
“leakage” from mineralization at depth.
The presence of precious metal bearing, quartz-alunite altered breccias riming the Meseta plateau, with an underlying
resistive, funnel shaped MT/ IP anomaly, is reminiscent of the pre -discovery setting of HSE breccia hosted Au-
Ag deposits2,3 along the Miocene age mineral belt that also hosts the Filo Del Sol deposit. Mogotes plans to drill
the Meseta target to test for near surface oxide Au -Ag mineralization and deeper conceptual porphyry Cu – Au
mineralization.
Cuenca – Epithermal Au-Ag Target
1. Mogotes geophysical model shows the Cuenca Au -Ag veining is located on the flank of a 1200m diameter,
concealed, mushroom shaped body defined by >10,000 Ohm. resistivity anomaly (Figure 5) . Mogotes
geological mapping has identified small outcrops of phyllic to advanced argillic altered hypabyssal quartz diorite
porphyry overlying the resistivity anomaly, suggesting that the anomaly is outlining a large concealed altered
intrusive dome that is hosting the structurally controlled Cuenca vein zone.
2. Cuenca vein zone is characterized by narrow zones of sheeted quartz veinlets that are developed as intersecting
structural trends over a 500m to 750m strike up to 270m wide area. The alteration assemblage of dickite-
alunite(K>Na)-gypsum-jarosite suggest an advanced argillic (AA) epithermal character to the mineralization.
3. Rock chip assays have returned up to 0.84 g/t Au and 16.2 g/t Ag with strongly anomalous Sb As Zn Pb Te Ba
(Please see May 7, 2025 news release) consistent with a precious metal polymetallic epithermal signature. Further
assay results from sampling of the zone will be reported in the coming weeks.
The geological setting of the Cuenca target in the roof zone of a large intrusive dome , as inferred from the geophysics,
represents a permissive setting for epithermal gold -silver mineralization. Understanding of the mineral potential for
the Cuenca zone is at an early stage, however the system footprint and near surface character will facilitate rapid
evaluation and if warranted drill testing for near surface structurally controlled Au-Ag mineralization.
Cruz del Sur large scale covered Porphyry Au (Cu Ag) target (CDS):
• Shallow: The top of the drill target sits approximately 300m below the surface (relatively shallow)
• Low elevation: elevation is approximately 4300m (relatively lower altitude adjacent to Mogotes camp)
• Large: the geophysical target footprint is large scale (700 x 400m footprint – Figure 6 left)
• Compelling Geophysical signature with coincident:
o Strongly magnetic in ground magnetic 3d inversion (100 to 220 SI*10-3)
o Highly chargeable in IP survey (>75ms to 180ms)
o Strongly conductive in MT survey (up to 32 ohm.m)
• Encouragingly, the CDS trench channel results define an increasing Au (+/- Ag Zn Mo Cu) vector toward
the main geophysical target, with the highest gold assay in both trenches (3m at 2.14 g/t Au and 2m at
1.67 g/t Au) the last sample at the SW end of each trench before cover became too deep to trench (Figure
6 and 7).
• Better Au (Zn-Pb-Ag) assays in the trenches related to pyrite (+/- sphalerite) facture veinlets hosted in
pyrite-sericite altered volcanics and diorite porphyry.Assays results from channel sampling of the trenches
include (Figure 6 right):
o Trench CDS T4, 33 m at 0.64 g/t Au, inc. 3 m at 2.41 g/t Au
o Trench CDS Ext, 12 m at 0.7 g/t Au, inc. 2 m at 1.67 g/t Au
Figure 6: Plan view of Trench assay results with geophysics anomalies (left) and with surface geology (right),
highlighting extensive gravel cover over the target areas
Stockwork Hills Porphyry Cu Au Target (SWH)
• Shallow: The top of the drill target starts at a relatively shallow, approximately 350 metres below the
surface (Figure 7 left )
• Low elevation: elevation is approximately 4300m (relatively lower altitude)
• Size: the footprint of the geophysical target is approximately 600m x 200m
• Compelling Geophysical signature:
o Highly chargeable in IP survey (>50ms)
o Magnetic anomaly
• Trenching at the SWH prospect tested a high order Cu-Au soil anomaly on the edge of gravel cover.
• Assays from trench channel sampling returning encouraging Cu-Au (Zn-Ag-Mo) results associated with
moderate intensity A and B quartz veinlet stockworking with visible supergene (malachite - chrysocolla
copper oxides) mineralisation hosted in sericite-clay-silica altered volcanics and diorite dykes (Figure 6
right).
• Assays results from channel sampling of the trenches include (Figure 7)
o Trench CDS T7, 147m @ 0.2g/t Au and 600 ppm Cu, inc. 12m@ 0.29gt/ Au and 0.32%Cu
o Trench CDS T8, 106m @ 0.14g/t Au and 700 ppm Cu, inc. 17m@ 0.27g/t Au and 0.14%Cu
• SWH trenches outline a +400m long, N-S oriented zone of mineralization that projects under gravel cover in
both directions. The SWH Cu-Au zone outcrops approximately 350m above a +600m long, strong
chargeable (+50ms) and magnetic geophysical anomalies that represents an attractive target for higher
grade stockwork Cu-Au-Ag-Mo mineralisation.
Figure 7: Long section with trench assay results and geophysics anomalies defining drill target at CDS and SWH
References
1 TSX: LUN. May 4, 2025. News Release, Lundin Mining Announces Initial Mineral Resource at Filo Del Sol
Demonstrating One of the World’s Largest Copper, Gold, and Silver Resources. Lundin Mining
2 Azevedo et al. The Discovery and Geology of the Salares Norte Epithermal Gold -Silver Deposit, Northern Chile.
NewGen Gold 2015, pp. 145-157
3 Astorga et al. Alturas: A Unique Discovery within a Mature District through Integrating Sound Geological Practices,
Multidisciplinary Expertise and Leading Technology. NewGen Gold 2017, pp. 219-235
About Mogotes Metals Inc.
Mogotes Metals Inc. is a mineral exploration company exploring for copper and gold in the prospective Vicuña district
of Argentina and Chile. Mogotes flagship project, Filo Sur, adjoins the large Filo del Sol Copper-gold-silver discovery,
and is along the same N-S trending belt as the Filo Del Sol – Aurora and NGEx Minerals Lunahuasi and Los Helados
copper-gold deposits.
For further information, please contact:
Mogotes Metals Inc.
Allen Sabet, President and Chief Executive Officer
Phone: (647) 846-3313
Email: [email protected]
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Twitter: https://x.com/mogotesmetals
Additional Information
The information contained in this news release was accurate at the time of dissemination but may be superseded by
subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-
looking information, whether as a result of new information, future events or otherwise.
Qualified Persons
The scientific and technical disclosure for the Filo Sur project included in this news release have been reviewed and
approved by Stephen Nano who is the Qualified Person as defined by NI 43-101. Mr. Nano is a Director and Technical
Advisor of the Company.
Note that the Qualified Person has not verified the information regarding adjacent properties such as Filo del Sol and
that the information regarding the mineralization of the Filo del Sol project is not necessarily indicative of the
mineralization on the Filo Sur project.
Mogotes applies industry standard exploration sampling methodologies and techniques. All geochemical soil, stream,
rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry
practice. Geochemical assa ys are obtained and reported under a quality assurance and quality control (QA/QC)
program. Samples from Argentina are dispatched bagged in raffia bags and packaged for shipment by an exclusive
truck to the ALS laboratory in Mendoza, Argentina. Samples fro m Chile are dispatched bagged in raffia bags and
delivered to the ALS laboratory in Copiapo, Chile. These facilities carried out sample preparation (PREP -31B) which
includes crush to 70 % less than 2 mm, riffle split off 1kg, pulverize to 85% passing 75 microns. The prepared samples
are sent to the ALS laboratory in Lima, Peru for gold and multi- element analysis. Gold (Au-ICP21) was analyzed by
fire assay fusion with ICP-AES finish on a 30 g sample. Samples were also analyzed for a suit of 48 elements (ME -
MS61) with four acid digestion and ICP-MS finish.
Assay results from drill core samples may be higher, lower or similar to results obtained from surface rock, channel,
trench samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in
the primary mineralization.
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements made and information contained herein in the news release constitutes “forward - looking
information” and “forward -looking statements” within the meaning of applicable securities legislation (collectively,
“forward-looking information”). The forward -looking information contained in this news release is based on
information available to the Company as of the date of this news release. Except as required under applicable securities
legislation, the Company does not intend, and does not assum e any obligation, to update this forward -looking
information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-
looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates",
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“possible”, "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements
that certain actions, events, conditions or results “will”, "may", "could", "would", “should”, "might" or "will be taken",
"will occur" or "will be achieved" or the negative connotations thereof. All statements other than statements of
historical fact may be forward-looking statements.