Mineros S.A. Reports Significant 2025 Drill Results in Nicaragua; Confirms High-Grade Discovery at a New Target and Potential Expansion of the District

MEDELLÍN, Colombia--(BUSINESS WIRE)--Feb 27, 2026--

Mineros S.A. (TSX:MSA, OTCQX: MNSAF, BVC:MINEROS) (“ Mineros ” or the “ Company ”) has concluded its 2025 diamond drilling campaign at the Hemco Property in Nicaragua, completing 52,214 metres of core drilling. The program evaluated regional targets and provided infill data for active mining operations to confirm structural continuity and assess potential resource expansion. All technical disclosures have been reviewed by a Qualified Person in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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Exploration and Delineation Results

The 2025 program successfully identified new mineralized structures and extended known systems. Notable results are categorized by target area below:

Momotombo Target: This area, situated 2.5 km northwest of the Porvenir project, represents a new mineralized occurrence. Initial drilling, surface trenching, and mapping have identified approximately 400 metres of strike length, which remains open at depth.

BPPDDH_25_1: Intersected 2.90m (core length) grading 68.42 g/t Au and 208 g/t Ag.

BPISDD_25_2: Intersected 3.25m (core length) grading 28.23 g/t Au and 281 g/t Ag.

Porvenir Potential Upside: Drilling targeted the Guillermina, Leticia, and Apoyo vein systems to evaluate vertical and lateral continuity.

Guillermina System: Hole BGUIDDH_25_63 returned 13.90m (core length) grading 10.22 g/t Au, 53 g/t Ag, 9.17% Zn, and 0.41% Cu.

Leticia System: Hole BLDDH_25_43 returned 3.70m (core length) grading 36.58 g/t Au, 130 g/t Ag, 4.58% Zn, and 4.61% Cu.

Apoyo System: This newly identified system successfully extended the known mineralized footprint to the northeast.

Infill Drilling and Operational Support

Infill drill programs conducted at the Panamá and Pioneer Mines were designed to increase data density for near-term mine planning.

La Reforma Vein (Pioneer Mine): Confirmed high-grade continuity within active mining blocks.

BPIODD_25_2261: Intersected 2.35m (core length) grading 26.55 g/t Au.

BPIODD_25_2251: Intersected 12.65m (core length) grading 8.53 g/t Au.

Capitán FW and Atlas Veins (Panamá Mine): Delineation drilling confirmed and locally extended mineralization within existing underground infrastructure.

Carlos David Rios, Vice President of Exploration for Mineros, commented: “Record gold production in 2025 demonstrates the strength of our operating assets. This performance, combined with the prospectivity of the Hemco Property land package, allows us to advance the most ambitious exploration program in Mineros' history. With over 75,000 metres of drilling planned and an expanded soil sampling program underway, we are well-positioned to expand our known mineralization across this district.”

MOMOTOMBO AREA: A POTENTIAL NEW HIGH-GRADE ZONE

The 2025 program led to the discovery of high-grade mineralization at Momotombo, confirming the district’s strong exploration potential. Located 2.5 km northwest of the Porvenir Project (see Figure 1), Momotombo expands the known mineralized footprint. Drilling, trenching, and mapping outline up to 400 metres of strike, with mineralization open at depth. Momotombo will be a priority target in the expanded 2026 program as we advance and define its full scale and value.

Table 1. Momotombo Target - 2025 Drilling Results

POTENTIAL UPSIDE AT PORVENIR

The 2025 drilling program successfully extended high-grade zones near the Porvenir Project. Drilling at the Guillermina and Leticia vein systems confirmed robust vertical continuity at depth, while the newly identified Apoyo Vein System extended the known mineralization to the northeast (see Figure 2 and Figure 3). These structures remain open along strike and at depth, demonstrating potential upside to the Porvenir Project in the near future.

Table 2. Significant drilling Results with potential to expand Mineralization at Porvenir Project

HIGH-GRADE INFILL RESULTS AT PANAMÁ AND PIONEER MINE

The 2025 infill drilling program continues to intersect high-grade mineralization along the main vein systems at our core operations.

At the Pioneer Mine, infill and definition drilling has confirmed the continuity of high-grade zones within the La Reforma Vein system. At the Panamá Mine, drilling has confirmed and locally extended mineralization within the Capitán FW and Atlas vein systems. These results support our near-term mine planning and are expected to support future updates to mine plans and contribute to extending the Life of Mine at both operations.

Table 3. Multiple High-Grade Intercepts Across the La Reforma, Capitan, and Atlas vein systems

ABOUT MINEROS S.A.

Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua and a pipeline of development and exploration projects throughout the region.

The Hemco Property is located approximately 230 kilometers northeast of Managua and benefits from excellent access, established infrastructure, and location within a well-established and mining-friendly jurisdiction. The property comprises a large, contiguous land package of approximately 151,389 hectares and is situated within one of the most prolific and extensive epithermal gold systems in Central America, which has supported multiple gold deposits and long-term mining operations.

QUALITY ASSURANCE, QUALITY CONTROL, AND DATA VERIFICATION

Results from samples taken during the 2025 drilling program were analyzed at ALS Global Peru. The sampling program was conducted under the direction of Carlos David Rios (Geo.Eng.). A secure chain of custody was maintained for delivery to ALS Global in Managua for preparation and subsequently to Lima, Peru for geochemical analysis. Gold was assayed using fire assay (30 g aliquot) with an atomic absorption finish and gravimetric finish for results over 10 ppm. Analysis by aqua regia digestion with a 51-element ICP-ES/MS suite was conducted on all samples.

Carlos David Rios, MAusIMM CP (Geo), VP Exploration for Mineros S.A., a qualified person under National Instrument 43-101, has reviewed and verified the technical information contained in this news release.

Election of Directors – Electoral Quotient System

The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company’s most recent annual information form, available on the Company’s website at https://www.mineros.com.co/ and from SEDAR+ at www.sedarplus.com.

CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES

In accordance with applicable Canadian securities regulatory requirements, all Mineral Resource estimates disclosed in this news release have been prepared in accordance with NI 43-101 and are classified in accordance with the CIM Standards.

Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Pursuant to the CIM Standards, Mineral Resources have a higher degree of uncertainty than Mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred Mineral Resources, when compared with Measured or Indicated Mineral Resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Pursuant to NI 43-101, Inferred Mineral Resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be converted into a Mineral Reserve, or is or will ever be economically or legally mineable or recovered.

FORWARD-LOOKING STATEMENTS

This news release contains “forward looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, statements with respect to the estimate of Mineral Resources, the results of metallurgical studies being conducted; exploration and testing plans; future expansion and upgrading of Mineral Resources; the economic viability of the Porvenir Project and Guillermina; and future development to the Porvenir Project.

Forward looking information is based upon estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

For further information of these and other risk factors, please see the “Risk Factors” section of the Company’s annual information form dated March 25, 2024, available on SEDAR+ at www.sedarplus.com.

The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking information contained herein is made as of the date of this news release and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.

Figure 3. Leticia Longitudinal Section

Figure 2. Leticia, Guillermina and Apoyo Vein Systems Location

Figure 1. Momotombo Target – Location

Like so many sectors of the economy, the news industry is hurtling toward a future where artificial intelligence plays a major role — grappling with questions about how much the technology is used, what consumers should be told about it, whether anything can be done for the journalists who will be left behind.

These issues were on the minds of reporters for the independent outlet ProPublica as they walked picket lines earlier this month. They're inching toward a potential strike, in what is believed would be the first such job action in the news business where how to deal with AI is the chief sticking point.

Few expect this dispute will be the last.

AI has undeniably helped journalists, simplifying complex tasks and saving time, particularly with data-focused stories. News organizations are using it to help sift through the Epstein files. AI suggests headlines, summarizes stories. Transcription technology has largely eliminated the need for a human to type up interviews. These days, even a simple Google search frequently involves AI.

Yet rushing to see how AI can help a financially troubled industry has resulted in several cases of publications owning up to errors.

Within the past year, Bloomberg issued several corrections for mistakes in AI-generated news summaries. Business Insider and Wired were forced to remove articles by a fake author named Margaux Blanchard. The Los Angeles Times had trouble with AI and opinion pieces. Ars Technica said AI fabricated quotes, and the publication that has frequently reported on the risks of overreliance on AI tools embarrassed itself further by failing to follow its policy to tell readers when the tool is used.

The ProPublica dispute is noteworthy for how it touches on issues that are frequently cause for debates. The union representing ProPublica's journalists, negotiating its first contract with the the outlet known for investigative reporting, says it wants commitments that mirror those sought elsewhere in the industry about disclosure and the role of humans in the use of AI.

Along with holding informational pickets, union members pledged overwhelmingly that they would be willing to strike without a satisfactory agreement, said Jen Sheehan, spokeswoman for the New York Guild, the union that represents many journalists in the city.

“It feels to me pretty monumental when we think about the trajectory of AI and journalism,” said Alex Mahadevan, an expert on the topic at the Poynter Institute journalism think tank.

ProPublica has rejected its requests, the union said. Insight into why can be found in an essay, “Something Big is Happening,” that circulated widely this month. Author and investor Matt Shumer, who said he's spent six years building an AI startup, wrote that the technology is advancing so quickly that “if you haven't tried AI in the last few months, what exists today would be unrecognizable to you.”

Small wonder, then, that news executives are reluctant to put guarantees in writing that could quickly become outdated.

Rather than make promises that can't be kept, ProPublica is exploring how technology can create more space for investigative reporting, company spokesman Tyson Evans said. In the “unlikely event” of AI-related layoffs, ProPublica is proposing expanded severance packages for those affected, he said.

“We're approaching AI with both curiosity and skepticism,” Evans said. “It would be a mistake to freeze editorial decisions in a contract that will last years.”

Fifty-seven of 283 contracts at U.S. news organizations negotiated by the NewsGuild-USA contain language related to artificial intelligence, said Jon Schleuss, president of the union that represents more journalists than any in the country. The first such deals happened in 2023, and The Associated Press was one pioneer. He wants provisions in more contracts.

It won't be easy, judging by the reluctance of many outlets to be tied down. The organization Trusting News, which encourages news organizations to develop and make public its policies on AI use, estimates that less than half of U.S. outlets have done so.

“I think it is becoming harder,” Schleuss said, “because too many newsrooms are being run by the greedy side of the organization and not by the journalism side of the organization.”

The guild is pushing for contracts that guarantee AI won't eliminate jobs. That's no surprise; unions exist to protect jobs. Schleuss characterized a proposal that ensures an actual journalist is involved when AI is used as a way to prevent errors and help an outlet build trust with its readers.

“Humans are actually so much better at going out, finding the story, interviewing sources, bringing back the relevant pieces, asking the hard follow-up questions and putting that in a way that people can understand and see, whether it's a news story or a video,” he said. “Humans are way better at doing that than AI ever will be.”

Apparently, not everyone in journalism agrees. Chris Quinn, editor of The Plain Dealer in Cleveland, Ohio, wrote this month of his disgust with a recent college graduate who turned down a job offer because the person had been taught that AI was bad for journalism.

Quinn's newspaper has been sending some of its journalists out to cover stories by interviewing people, collecting quotes and information, then feeding it to a computer to write. While a human will edit what the computer spits out, an integral part of the process — a reporter using his or her judgment about how to tell a story — has been stripped from their hands. Quinn defended it as the best use of limited resources.

Research shows that a vast majority of American consumers believe that it's very important that newsrooms tell the public when AI is used to write stories or edit photographs, said Benjamin Toff, director of the Minnesota Journalism Center at the University of Minnesota. But here's the rub: Such disclosure makes them trust the outlet's stories less, not more.

A significant minority — 30% in a study Toff conducted last year — doesn't want AI used in journalism at all.

Telling a reader that AI was used is not as simple as it sounds. “There are just so many, many uses of AI in journalism, from the very beginning of the reporting process to when you hit publish, that just broadly declaring that when AI is used in the newsgathering process that you have to disclose it, just seems like it is actually a disservice to the reader in some cases,” Poynter's Mahadevan said.

Two lawmakers in New York state — the nation's publishing capital — introduced legislation this month requiring clear disclaimers when artificial intelligence is used in published content. There's no immediate word on its chances for passage, but both sponsors are Democrats in a legislature controlled by that party.

Mahadevan believes it's fair to have policies that requires human involvement — editing to prevent slip-ups, for example. But even these declarations are open to interpretation, he said. If an outlet uses chatbots to answer reader questions, are they being edited by a human being?

“Speaking realistically, the newsroom of the future is going to look completely different than it does today,” he said. “Which means people will lose jobs. There will be new jobs. So I think it's important that we are having these conversations right now because audiences do not want a newsroom completely taken over by AI.”

David Bauder writes about the intersection of media and entertainment for the AP. Follow him at http://x.com/dbauder and https://bsky.app/profile/dbauder.bsky.social.

FILE - The OpenAI logo is displayed on a cellphone with an image on a computer monitor generated by ChatGPT's Dall-E text-to-image model, Dec. 8, 2023, in Boston. (AP Photo/Michael Dwyer, File)