Andean Precious Metals Reports Strong First Quarter 2026 Production Results 28% Increase IN Production Year-over-Year Driven BY Performance at San Bartolome
NEWS RELEASE
TSX: APM OTCQX: ANPMF
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ANDEAN PRECIOUS METALS REPORTS STRONG FIRST QUARTER 2026
PRODUCTION RESULTS
28% INCREASE IN PRODUCTION YEAR-OVER-YEAR DRIVEN BY PERFORMANCE AT
SAN BARTOLOME
TORONTO, ON – April 8, 2026 – Andean Precious Metals Corp. (“Andean” or the “Company”) (TSX:
APM) (OTCQX: ANPMF) is pleased to report its operational results for the first quarter of 2026. The
Company will release its first quarter financial results after market close on Tuesday, May 12, 2026,
followed by an earnings conference call and webcast hosted by management on Wednesday, May 13,
2026, at 9:00 a.m. Eastern Time.
Alberto Morales, Executive Chairman and CEO, stated, “We are pleased with our start to 2026,
with production up 28% year-over-year on a GEO basis, highlighted by a strong performance at
San Bartolome, where higher throughput and a 25% increase in grades compared to the prior year
drove a meaningful increase in production. While the first quarter is typically the slowest period of the
year due to seasonal factors, performance this year exceeded our expectations and reflects the
strength of our ore sourcing strategy. At Golden Queen, production tracked as expected, with
improvements compared to the prior year period, reflecting solid underlying performance as we
continue to advance our mine plan.
Overall, the quarter represents a strong start to the year and positions us well for the remainder of 2026.
As a reminder, we ended 2025 with a strong balance sheet, including approximately $167 million in cash
and cash equivalents, providing significant financial flexibility as we continue to execute on our growth
strategy. With our strong production for the first quarter of 2026, combined with robust gold and silver
prices, we expect to have another strong quarterly financial result, and we look forward to reporting our
full first quarter financial and operating results on May 12, 2026.”
Q1 2026 Production Summary:
Consolidated Q1 2026 Guidance 12M 2026
Gold ounces produced (Au, oz) 11,989 46,000 - 54,000
Silver ounces produced (Ag, k-oz) 1,305 4,600 - 5,100
Gold equivalent ounces produced (Au, oz) 1 27,344 100,000 - 114,000
Golden Queen
Gold ounces produced (Au, oz) 10,599 43,000 - 50,000
Silver ounces produced (Ag, k-oz) 76 200 - 300
Gold equivalent ounces produced (Au, oz) 1 11,496 45,000 - 54,000
San Bartolome
Gold ounces produced (Au, oz) 1,390 3,000 - 4,000
Silver ounces produced (Ag, k-oz) 1,229 4,400 - 4,800
Gold equivalent ounces produced (Au, oz) 1 15,848 55,000 - 60,000
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Q1 2026 Operational Results:
Q1 2026 Conference Call and Webcast:
● Wednesday, May 13, at 9:00 AM ET
● Participants may listen to the webcast by registering via the following link
https://www.gowebcasting.com/14676
● Participants may also listen to the conference call by calling North American toll free 1-800-715-
9871, or 1-647-932-3411 outside the U.S. or Canada.
Consolidated Q1 2026 Q1 2025
Gold ounces produced (Au, oz) 11,989 11,078
Silver ounces produced (Ag, k-oz) 1,305 925
Gold equivalent ounces produced (Au, oz) 1 27,344 21,361
Gold ounces sold (Au, oz) 12,030 10,824
Silver ounces sold (Ag, k-oz) 1,317 1,029
Gold equivalent ounces sold (Au, oz) 1 27,527 22,251
San Bartolome
Gold ounces produced (Au, oz) 1,390 769
Silver ounces produced (Ag, k-oz) 1,229 846
Gold equivalent ounces produced (Au, oz) 1 15,848 10,172
Silver equivalent ounces produced (Ag, k-oz) 1 1,347 915
Gold ounces sold (Au, oz) 1,670 795
Silver ounces sold (Ag, k-oz) 1,255 952
Gold equivalent ounces sold (Au, oz) 1 16,433 11,370
Silver equivalent ounces sold (Ag, k-oz) 1 1,397 1,023
Golden Queen
Gold ounces produced (Au, oz) 10,599 10,309
Silver ounces produced (Ag, k-oz) 76 79
Gold equivalent ounces produced (Au, oz) 1 11,496 11,189
Gold ounces sold (Au, oz) 10,361 10,029
Silver ounces sold (Ag, k-oz) 62 77
Gold equivalent ounces sold (Au, oz) 1 11,094 10,881
NEWS RELEASE
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● An archived replay of the webcast will be available for 90 days at:
https://www.gowebcasting.com/14676 or the Company website at www.andeanpm.com.
About Andean Precious Metals
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the
Americas. The Company owns and operates the San Bartolome processing facility in Potosí, Bolivia
and the Golden Queen mine in Kern County, California, and is well-funded to act on future growth
opportunities. Andean’s leadership team is committed to creating value; fostering safe, sustainable
and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals
producer.
Qualified Person Statement
The scientific and technical content disclosed in this news release was reviewed and approved by
Donald J. Birak, Independent Consulting Geologist to the Company, a Qualified Person as defined by
National Instrument 43-101 – Standards for Disclosure for Mineral Projects, Registered Member, Society
for Mining, Metallurgy and Exploration (SME), Fellow, Australasian Institute of Mining and Metallurgy
(AusIMM).
For more information, please contact:
Amanda Mallough
Director, Investor Relations
T: +1 647 463 7808
Endnotes:
1. Gold equivalent ounces of silver produced or sold in a given period are computed using a
consistent ratio of the silver price to the gold price. In 2025, the Company is using a factor of 90.
For 2026, the Company is using a factor of 85.
Caution Regarding Forward-Looking Statements:
Certain statements and information in this release constitute “forward -looking statements” within the
meaning of applicable U.S. securities laws and “forward -looking information” within the meaning of
applicable Canadian securities laws, which we refer to collectively as “forward -looking statements”.
Forward-looking statements are statements and information regarding possible events, conditions or
results of operations that are based upon assumptions about future economic conditions and courses
of action. All statements and information other than statements of historical fact may be forward-looking
statements. In some cases, forward-looking statements can be identified by the use of words such as
“seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”,
“predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases
(including negative variations) suggesting future outcomes or statements regarding an outlook.
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Forward-looking statements in this release include, but are not limited to, statements and information
regarding the Company's anticipated production and operational performance, the timing of the release
of the Company’s financial and operating results for the quarter ended March 31, 2026, and expectations
regarding future financial or operational results based on current metal prices and operating conditions.,
Such forward-looking statements are based on a number of material factors and assumptions, including,
but not limited to: the continued operation of the Company’s assets in accordance with current plans;
the availability and continuity of ore supply; the performance of plant and equipment consistent with
expectations; no material disruptions to operations; and the continuation of current commodity price and
market conditions. Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause actual results, performance or achievements, or industry results, to differ
materially from those anticipated in such forward -looking statements. Such risks and uncertainties
include, but are not limited to: risks related to variability in production levels and ore supply; operational
risks, including equipment failure, labour disruptions and other unforeseen difficulties; fluctuations in the
prices of gold and silver; changes in operating costs; foreign exchange rate fluctuations; regulatory and
permitting risks; and general economic and market conditions. For additional risk factors, please refer
to the section entitled “Risk Factors” in the Company’s Management’s Discussion and Analysis for the
year ended December 31, 2025, and the Company’s Annual Information Form for the year ended
December 31, 2025, each dated March 25, 2026, which are available on SEDAR+ at www.sedarplus.ca.
The Company believes that the expectations reflected in such forward -looking statements are
reasonable; however, no assurance can be given that these expectations will prove to be correct, and
readers are cautioned not to place undue reliance on forward -looking statements contained herein.
Although the Company has attempted to identify important factors that could cause actual results or
events to differ materially from those described in the forward -looking statements, this list is not
exhaustive and there may be other factors that the Company has not identified. The Company
undertakes no obligation to update or revise any forward -looking statements included in this release,
except as required by applicable law.