Latin Metals Provides Update on Esperanza Project, San Juan, Argentina
Latin Metals Provides Update on
Esperanza Project, San Juan, Argentina
NR25-15 September 17, 2025
Vancouver, B.C. – Latin Metals Inc. ("Latin Metals " or the "Company") - (TSXV: LMS)
(OTCQB: LMSQF) is pleased to provide an update on the Esperanza ( "Esperanza") and Huachi
("Huachi") (together the "Projects") copper-gold projects in San Juan province, Argentina. Latin
Metals previously signed an option agreement (the “ Moxico Option ”) with Atlantic Metals
Limited, a wholly owned subsidiary of Moxico Resources plc (together with Atlantic Metals,
“Moxico”) (previous news release dated October 8, 2024).
Project Update
Moxico has made substantial progress at the Esperanza project to date. Geological work has
expanded the known footprint of mineralization and set the stage for future drill testing.
Geological and alteration mapping, systematic rock sampling, and the re-logging of historic drill
core have already identified new copper mineralization north and west of previously drilled
areas. International porphyry expert Dr. Richard Sillitoe has also completed a review of project
data, confirmed the presence of multi-phase mineralized intrusions and highlighted the potential
for extensions of mineralization beyond the zones defined to date.
In parallel, Moxico is advancing with programmed environmental and social works. Hydrological
and hydrogeological studies are underway in partnership with leading Argentine research
institutes, supported by newly installed weather stations across the Huerta de Huachi River basin.
On the social side, Moxico has retained San Juan–based ERS Consultora to complete a social
baseline study in the Department of Jáchal and has hired local staff to assist with logistics and
environmental monitoring.
This combination of technical, environmental, and social initiatives provides a strong foundation
for future drilling and positions Esperanza as a high-quality copper-gold project with district-scale
potential.
Esperanza Underlying Option
Latin Metals has amended the underlying option agreement ( "Amended Underlying Option ")
with the underlying vendor ("Vendor"). Under the terms of the amendment, the Vendor’s right
to terminate the option due to certain project delays has been removed. In consideration of this
concession, the payment schedule to acquire a 100% interest in the Esperanza property has been
amended (Table1) as follows:
NR25-15 Continued 2 September 17, 2025
Table 1: Amended Esperanza Underlying Option Terms
Milestone Payment
Dates USD Cash USD Deemed Value of
Latin Metals Shares
Prior Payments $1,173,000 1 (paid) -
21 July 20252 $250,000 3 (paid) -
30 June 2026 $250,000 -
30 December 2026 $250,000 $250,000
30 June 2027 $383,00 $250,000
Total: $2,306,000 $500,000
Note 1. Payments made prior to Amended Underlying Option.
Note 2. Under the original terms of the underlying option agreement, if a drill
permit for Esperanza is not secured on or prior to July 31, 2025, the Vendor had
the right to terminate the option agreement. As consideration for removing the
termination rights, a new schedule of milestone payments was established,
beginning July 21, 2025.
Note 3. Payment made by Moxico.
Amended Moxico Option
Moxico has agreed to align its earn-in obligations with the revised terms of the amended
Underlying Option. Moxico has reimbursed Latin Metals for the US$250,000 milestone payment
made in July 2025, while also extending its 2025 drilling commitment into 2026. The revised drill
commitment now calls for 15,000 meters of drilling in 2026. To exercise the Moxico Option, cash
payments of up to US$2.67 million must be made to Latin Metals. The amended Moxico Option
terms are as follows:
Table 2: Amended Moxico Option Terms
Milestone Payment
Dates USD Cash to LMS Drilling
Commitment (m)
NI 43-101
Technical Report
7 October 2024 $350,000 (paid) - -
7 October 2026 $200,000 15,000 1 Mineral Resource
Estimate
7 October 2027 $225,000 20,000
Preliminary
Economic
Assessment
7 October 2028 $350,000 15,000 -
7 October 2029 $500,000 15,000 -
7 October 2030 $1,050,000 - Bankable
Feasibility Study
Total: $2,675,000 65,000 -
Note 1. 5,000m of the total 15,000m drilling is a firm commitment subject to receipt of
drilling permits, provided that Moxico shall have made commercially reasonable and good
faith efforts to obtain same.
NR25-15 Continued 3 September 17, 2025
About Latin Metals
Latin Metals Inc. is a copper, gold and silver exploration company operating in Peru and Argentina
under a prospect generator model, minimizing risk and dilution while maximizing discovery
potential. With 18 projects, the company secures option agreements with major mining
companies to fund exploration. This approach provides early-stage exposure to high-value
mineral assets.
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On Behalf of the Board of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are referred to the Company's web site ( www.latin-
metals.com) and its Canadian regulatory filings on SEDAR+ at www.sedarplus.com.
For further information, please contact:
Keith Henderson
Suite 890 - 999 West Hastings Street,
Vancouver, BC, V6C 2W2
E-mail: [email protected]
Elyssia Patterson, VP Investor Relations
Email: [email protected]
Phone: 778-683-4324
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 news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private
Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including,
without limitation, the anticipated content, commencement, timing and cost of exploration programs in respect of the Property
and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be
able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral
deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company,
are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words
such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates",
NR25-15 Continued 4 September 17, 2025
"believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions,
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements
in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals
will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory
approvals in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of
financing on suitable terms for the development, construction and continued operation of the Company projects, and the
Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to differ materially from any future results, performance or achievements expressed
or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical
difficulties in connection with mineral exploration and development and mine development activities at the Properties, including
the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results
of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing
and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of
new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices
of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and
market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes
to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company
to obtain any necessary permits, consents or authorizations required, any current or future property acquisitions, financing or
other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency
fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation,
environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions,
as well as those factors discussed under the heading as well as those factors discussed under the heading “Risk Factors” in the
Company’s annual management’s discussion and analysis and other filings of the Company with the Canadian Securities
Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the
Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by
reference herein.
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