Peruvian Metals Announces the 10-Year Renewal of the Use of Surface Rights at the Aguila Norte Processing Plant
Peruvian Metals Announces the 10-Year
Renewal of the Use of Surface Rights at the
Aguila Norte Processing Plant
Edmonton, Alberta--(Newsfile Corp. - March 2, 2026) -
Peruvian Metals Corp (TSXV: PER) (OTC
Pink: DUVNF)
("Peruvian Metals" or the "Company") is pleased to announce that the Company has
renewed the lease on the use of the surface rights at its 80-per-cent-owned Aguila Norte processing
plant ("Aguila Norte" or the "Plant") located in Northern Peru for an additional 10 years.
The Plant is located on a 120-hectare concession wholly owned by the Company's 80% owned
subsidiary Minera Aguila de Oro S.A.C ("MADOSAC"). Initially the Company received a 10-year
authorization use in February 2016 to construct and process mineral at the Aguila Norte site.
The
Company was granted the environmental permit ("IGAC") in mid-2017 by the Peruvian government to
initiate activities. IGAC permits the Plant to process mineral at the current 100-tonne-per-day level but
can be expanded to 350 tonnes per day. The Plant operated at full capacity in 2025 by processing
36,616 tonnes. With the renewal in place, the Company will start the engineering studies on the additions
needed to the
Plant to expand the daily capacity and the tailings facility. The expected delivery of mineral
from Peruvian Metals' 100% owned material in 2026 will require the additional capacity at the Plant.
The Company will focus on its 100% owned Palta Dorada Au-Ag property ("Palta Dorada") located 120
kilometers southeast of Aguila Norte. Palta Dorada is held by a separate, wholly owned subsidiary of
Peruvian Metals Recent metallurgical testing of sulphide material at Palta Dorada with a head grade of
8.3 grams Au/mt shows that 89% of the gold is recoverable. The result of the recent metallurgical work is
summarized in the Company's press release dated January 21
st
, 2026.
Precious metals concentrates
produced at the Plant from mineral extracted at Palta Dorada will be 100% owned by the Company.
MADOSAC owns two additional contiguous concessions totaling 263 hectares that are not covered by
the environmental IGAC permit. MADOSAC's concessions host numerous gold-silver-copper veins
exposed in historic workings in close proximately to the Plant. Sampling in 2009 by a Canadian junior,
AndeanGold Ltd. ("AndeanGold") noted in their press release dated May 12th, 2009, that 31 samples
taken from the main adit returned a weighted average of 4.81 g/tonne ("mt"), Au, 41.7 g/mt Ag and
0.51% Cu. The adits and old workings are located 500 meters North East of the Plant and expose two
parallel mineralized quartz veins. The Company was able to clean out a 20-meter vertical shaft within the
main adit and took one grab sample at the bottom of the shaft that contained abundant sulphides. Assay
results from that sample returned 1.487 grams Au/mt, 3.40 ounces Ag/mt and 3.00 % Cu. This sample
was also assayed for soluble copper returning 0.24% Cu. This result shows that the veins at Aguila Norte
contain sulphides at depth which could eventually be processed at the Plant. All samples from this area
were processed by Procesmin Ingenieros S.R.L located in Caraz Ancash by Fire Assay for Au-Ag and
Atomic Absorption for Cu.
The Company will also focus on a second area of interest located immediately east and adjacent to the
Plant in an area not covered by the environmental permit. The Company's geologists took 7 grab
samples from this vein where assays averaged 6.24 grams Au/mt and ranged from 1.03 to 13.50 grams
Au/mt. The grab samples were taken from the underground workings and stockpiles on surface. The vein
is heavily oxidized and varies in width between 0.30 to 1.20 meters. The Company also believes that
there exists good potential at depth for the sulphide gold potential of this vein. Samples were analyzed
by Fire Assay at Auro Met Labs located in Trujillo. Auro Met Labs is used by many of miners and mills in
the area. A more detailed summary of the previous work conducted by AndeanGold and the sale of gold
material from the area is provided in the Company's news released dated December 17th , 2025.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, comments: "In 2015 the Company focused
on creating a sustainable exploration and development company. At that time, we noticed that the small
miner in Peru was in a unique position to benefit from new regulations allowing provisional permits for
mineral extraction and processing. The Peruvian Government required that the small miner must process
their mineral in permitted processing plants. Therefore, we decided to build a flotation plant to treat
sulphides and to build relationships with the small miners in Peru. We also continued acquiring new
areas for exploration by application and purchasing, but with the focus on high grade mineral. The
Company is now stronger than ever and with the precious metal prices at historic levels, Peruvian Metals
is in a position to benefit from the processing of its own mineral."
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration/development and mineral processing company. Our
business model is to provide clients with toll milling services and produce high-grade marketable
concentrates from the Company's mineral properties. The Management and Directors have been
operating successfully in Peru for over 30 years, and the Company continues to acquire and develop
precious and base metal properties in Peru. Peruvian Metals has a history of timely transactions that
have added long term value for shareholders.
ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder
For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
:
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 release.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "Forward-
Looking Statements" within the meaning of applicable securities legislation. We use words such as
"might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar
terminology to identify forward looking statements and forward-looking information. Such statements and
information are based on assumptions, estimates, opinions, and analysis made by management in light
of its experience, current conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and information involve
known and unknown risks, uncertainties and other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking statements and information and
accordingly, readers should not place undue reliance on such statements and information. Risks and
uncertainties are more fully described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities regulatory authorities and available at
www.sedarplus.ca
. While the Company believes that the expectations expressed by such forward-
looking statements and forward-looking information and the assumptions, estimates, opinions, and
analysis underlying such expectations are reasonable, there can be no assurance that they will prove to
be correct. In evaluating forward-looking statements and information, readers should carefully consider
the various factors which could cause actual results or events to differ materially from those expressed or
implied in the forward-looking statements and forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/285857