Patagonia Gold Third Quarter 2025 Financial Results
Patagonia Gold Third Quarter 2025 Financial Results
VANCOUVER, British Columbia, Nov. 27, 2025 -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC)
announces its financial results for the quarter ended September 30, 2025 (“Q3 2025”). The financial statements together with
the related management’s discussion and analysis are available on the Company’s website and under the Company’s profile
on SEDAR+ at www.sedarplus.ca.
Highlights
• Generated revenue of US$3 million in Q3 2025.
• Residual production from Cap Oeste yielded 482 gold equivalent ounces (1) produced and sold 707 gold equivalent
ounces(1) in Q3 2025.
• Construction of the Company’s Calcatreu heap leach facility in Rio Negro. As of the end of Q3 2025, the access road,
camp, explosives magazine, fuel storage tanks, and power generation plant had been completed. Work on the heap
leach pad is well advanced, with earthworks finished and the installation and welding of the geomembrane liner in
progress.
• Relocation and refurbishment of the carbon in columns (“CIC”) plant from the Company’s past producing Lomada de
Leiva mine to Calcatreu has been completed and is expected to be installed during December 2025.
• The elution, electro winning and doré furnace circuits purchased from FL Smith are scheduled for delivery during Q1
2026.
• Hiring and training of personnel for the mining activities has been completed and the first blasts took place on
September 18, 2025.
• The Company expects to commence heap leaching at Calcatreu in early 2026.
• Incurred exploration expenditures of US$0.5 million in Q3 2025, including completion of:
• A total of 1,074.35 meters were drilled at Calcatreu, focused across the Belen, Lucy, Nelson, Nelson Central
and NVS targets.
• A total of 92.45 meters of trench were excavated at the Belen W, Julieta and V49 targets.
• A total of 535.71 line-kilometers of ground magnetics surveying was completed and the Base Geological Reports
(IGB) were submitted to the Mining Application Authority for the Antonia and Rojizo 2 mining properties in the
province of Santa Cruz.
Notes:
(1)
Consisting of 273 gold and 18,900 silver ounces of production and 478 gold and 20,398 silver ounces sold, converted to a gold equivalent using a ratio of the average spot
market price for the commodities each period. The ratio for the three months ended September 30, 2025 was 86.73:1 (2024 – 82.49:1).
Qualified Person’s Statement
Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as
defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange. The
Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia
region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-
Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to
over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz,
Argentina.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp.
T: +54 11 5278 6950
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements with respect to,
among other things, timing for the installation of the CIC plant at Calcatreu; timing for delivery of the elution, electro winning
and doré furnace circuits; timing for commencement of heap leaching at Calcatreu; the planned exploration and development
of gold and silver projects in the Patagonia region of Argentina; and the anticipated growth in shareholder value. Wherever
possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or
“potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these
forward-looking statements. These statements reflect management’s current beliefs and are based on information currently
available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results,
performance or achievements to differ materially from the results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no
obligation to update or revise them to reflect new events or circumstances, except as required by law.
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.