Saturday, September 26, 2026
MiningNewsTerminal
Saturday, September 26, 2026 Admin

FMN.V ·

Corporate Update – Asset Sale Cash received and Growth Project plans FIDELITY MINERALS:

Mergers & Acquisitions

1

Corporate Update – Asset Sale Cash received and

Growth Project plans

FIDELITY MINERALS:

• Cerro Dorado Gold Plant upgrade, commissioning and sale process on track.

• Program planning for 100% owned exploration projects in progress.

Vancouver, BC, January 7th, 2020 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE:

MNYC) (“Fidelity Minerals” or “the Company”) is pleased to update progress with the Cerro

Dorado plant upgrades and sale . Per a modification arrangement reached in concert with the

purchaser, the Company received USD $250,000 of the December payment as detailed in the News

Release of December 4 th, 2019, with the balance payable on January 22 nd, 2020: the arrangement

suits t he Company and helps the purchaser maintain pace on the plant upgrades. The Payment

Schedule as previously announced remains otherwise unchanged.

The Company restructuring with financing undertaken in December are complete, with 60% of the

financing being taken up by insiders of the Company. The Company is now focussed on planning

work on its Las Brujas project, targeted for mobilization in February 2020, and advancing its Las

Huaquillas project (FMN: 44.5%) strategy toward the integration of the project with its 100% owned

Greater Las Huaquillas project (100% interest FMN, 9 concessions, 3,800 ha) . The Company will

continue as an active Project Generator in 2020.

The anticipated Company board changes announced in December, 2019, completed following the

Corporate Restructure with the resignation of Luis F. Zapata, a co-founder of the Company . Luis’

departure was necessitated by his need to focus on his appointment with Canaccord Genuity. The

board would again like to thank Luis for his valuable contributions to the Company and look s

forward to continuing to benefit from his insights into the Latin American mining sector. The board

is actively considering a range of opportunities to broaden the experience and skill-sets available to

contribute to the board.

About Fidelity Minerals Corp.

Fidelity Minerals Corp. is assembling a portfolio of high -quality mining assets in Peru through the

implementation of our Strategic Project Generator (SPG) model. The project generator model

involves the identification and acquisition of appraisal stage opportunities with near-term valuation

catalysts, including potential for high -impact M&A. The company is backed by an experienced

management team with diverse technical, market, and commercial expertise and is supported by

committed and sophisticated investors focused on building long term value.

On behalf of the Board of Fidelity Minerals;

Ian Graham

CEO and Director

Tel: +1.604.671.1353

Email: [email protected]

2

Investor Contact:

Bahay Ozcakmak

Executive Chairman

Tel: +61.3.9236.2800

Email: [email protected]

NEITHER THE 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.

Disclaimer & Forward -Looking Statements: This news release contains forward -looking statements.

Forward-looking statements are statements that relate to future events or future financial performance. In some

cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”,

“expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the

negative of these terms or other comparable terminology. These statements speak only as of the date of this news

release. This news release may also contain inferences to future oriented financial information (“FOFI”) within

the meaning of applicable securities laws. The information in this news release has been prepared by our

management to provide a context for the acquired projects and to provide the reader with an outlook for our future

activities and anticipated focus projects and may not be appropriate for other purposes. Forward-looking

statements in this announcement include, (but are not limited to), anticipated cash payments to be received from

the Cerro Dorado purchaser, advancing certain key project activities that could represent important milestones

which the Company expects may represent material valuation catalysts, such as the expectation that through the

Strategic Project Generator model Fidelity Minerals is positioning itself to be a beneficiary in this environment

of increased appetite for prospective projects in the mid-Andean region. Further, forward-looking statements in

this release include that the material net proceeds of the Cerro Dorado sale and the recently completed capital

raise will enable the Company to advance the rest of the high -quality project portfolio we have been able to

assemble over the last 12 months, and that these new copper and gold projects are of scale that is likely to attract

industry interest , and the implication that these projects may result in value accretive transactions. The

implication that the Company’s initiatives will individually or collectively be successful comprise forward looking

statements.