Mantaro Precious Metals Corp. Announces Private Placement Financing

MANTARO PRECIOUS METALS CORP. ANNOUNCES PRIVATE PLACEMENT FINANCING

Vancouver, British Columbia, February 1, 2024 - MANTARO PRECIOUS METALS CORP. (TSXV: MNTR;

OTCQB: MSLVF; FSE: 9TZ ) (the “Company”) announces a non -brokered private placement of up to

12,000,000 units (each a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $ 600,000 (the

“Offering”).

Each Unit will consist of one common share of the Company (each a “Share”) and one common share

purchase warrant (a “Warrant”), with each Warrant entitling the holder to purchase one additional Share

for a period of one year from the date of issuance at an exercise price of $0.075 per Share.

The securities issued under the Offering will be subject to restrictions on resale for a period of four months

from the date of issue. The Company may pay finders a fee in cash and/or share purchase warrants.

The proceeds of the Offering will principally be used t o repay corporate indebtedness a s well as

administrative and maintenance costs on the Company’s mineral properties.

About Mantaro Precious Metals Corp.

Mantaro Precious Metals Corp. is a British Columbia company that holds a 100% interest in the high-grade

Santas Gloria silver property, located in Peru.

For more information please contact:

Jacob Garland

Phone: (604) 806-0626

E-mail: [email protected]

Forward-Looking Statements

Information set forth in this news release contains forward -looking statements that are based on

assumptions as of the date of this news release. These statements reflect management’s current

estimates, beliefs, intentions and expectations. They are not gu arantees of future performance. The

Company cautions that all forward looking statements are inherently uncertain and that actual

performance may be affected by a number of material factors, many of which are beyond the Company’s

control. Such factors incl ude, among other things: risks and uncertainties relating to Company’s limited

operating history, ability to obtain sufficient financing to carry out its exploration programs and the need

to comply with environmental and governmental regulations. Accordingly, actual and future events,

conditions and results may differ materially from the estimates, beliefs, intentions and expectations

expressed or implied in the forward -looking information. Except as required under applicable securities

legislation, the Company undertakes no obligation to publicly update or revise forward -looking

information.

The forward-looking statements contained in this news release are made as of the date of this news

release. Except as required by law, the Company disclaims any intention and assumes no obligation to

update or revise any forward-looking statements, whether as a result of new information, future events

or otherwise.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.