Mineros Reports Strong Q2 2026 Sales of 61,849 Gold Equivalent Ounces; Revises Full-Year Guidance to 220,000 - 240,000 Ounces

MEDELLÍN, Colombia--(BUSINESS WIRE)--Mineros S.A. (TSX:MSA, OTCQX:MNSAF, BVC:MINEROS) (“Mineros” or the “Company”) is pleased to report its gold sold for the three months ended June 30, 2026 (“Q2 2026”) and revised guidance for 2026.

Daniel Henao, President and CEO of Mineros, commented: “The second quarter results demonstrate the strength and consistency of our operations across both jurisdictions. In Nicaragua, production increased and reflects the sustained success of our metallurgical optimization program and the significant by-product value embedded in our operations. These are not isolated gains; they are the product of deliberate and disciplined investment in our plant and our people. In Colombia, gold sold of 22,482 ounces represented an 8% year-over-year increase, reflecting encouraging operational improvements.

With 122,634 gold equivalent ounces sold in the first half of 2026, we have strong confidence in our full-year trajectory, and we are pleased to raise the top end of our 2026 consolidated production guidance to 240,000 ounces. The fundamentals of our business — disciplined operations, a growing and increasingly productive asset base, and a robust gold price environment — position Mineros well to continue delivering value for our shareholders.”

Q2 2026 Highlights

• Strong quarterly gold sold: 59,639 ounces of gold, an 11% increase over the 53,906 ounces sold in Q2 2025, driven by continued operational optimizations in Nicaragua and Colombia.
• Record silver sold: 150,680 ounces of silver, more than double the 70,732 ounces sold in Q2 2025, a 113% year-over-year increase driven by sustained improvements in metallurgical recovery at the Hemco processing plant.
• Solid gold equivalent output: AuEq¹ sold of 61,849 ounces, a 13% increase over the 54,629 AuEq ounces delivered in Q2 2025.
• Hemco outperformance: The Hemco Property in Nicaragua continued to set the pace with 37,157 ounces of gold, a 12% year-over-year increase, and silver sold of 148,565 ounces — more than double the prior-year period. Processing capacity continued to advance toward the targeted 2,500 tonnes per day by year-end.
• Guidance upgrade: With 122,634 AuEq ounces sold in the first half of 2026, a 12% increase over the same period last year, the Company is raising the top end of its full-year 2026 consolidated gold production guidance to 240,000 ounces.

Operational Review

Mineros delivered a strong second quarter, with consolidated gold sold of 59,639 ounces, an 11% year-over-year increase. Plant optimization at Hemco, mine ramp-up and operational improvements at Nechí drove another quarter of production growth. Combined with a 113% increase in silver sold to 150,680 ounces, the quarter underscores the Company’s ability to extract growing value from its existing asset base. Safety and environmental performance remained central to the Company’s operational philosophy throughout the period.

At the Hemco Property (Nicaragua), the Company’s principal growth engine delivered another strong quarter. Gold sold reached 37,157 ounces, a 12% increase over Q2 2025, driven by higher throughput, improved metallurgical recoveries, and strong ore feed from Bonanza Mining Partners and the Company-operated mines. Silver sold of 148,565 ounces — more than double the prior-year period — reflects the sustained success of the Company’s metallurgical optimization program. Processing throughput continued to advance toward the 2,500 tpd target set for year-end, building the foundation for continued production growth in the second half.

At the Nechí Property (Colombia), the operation delivered 22,482 ounces of gold, an 8% increase over Q2 2025, demonstrating a solid recovery trajectory and continued operational momentum. The Company is advancing continuous improvements to production rate and metallurgical recovery across its operations, while expanding contributions from partner operational units. The Nechí Property continues to generate reliable cash flows underpinned by a disciplined AISC framework.

Table 1 – Quarterly Sales Data per Operation
Operation	Q2 2026	Q2 2025
Nechí Property (Colombia)
Gold (oz)	22,482	20,859
Silver (oz)	2,115	1,944
Hemco Property (Nicaragua)
Gold – Industrial (oz)	4,751	6,248
Gold – BMP¹ (oz)	32,406	26,800
Total Gold Hemco (oz)	37,157	33,048
Total Silver Hemco (oz)	148,565	68,788
Total Gold Sold (oz)	59,639	53,906
AuEq Sold (oz)	61,849	54,629

¹ Gold equivalent (“AuEq”) is calculated using silver production for the quarter multiplied by the average realized silver price per ounce sold, divided by the average realized gold price per ounce sold for the respective period. Silver is treated as a by-product and represents a minor portion of consolidated output; silver production guidance is not provided. Figures may not sum due to rounding.

Updated 2026 Production Guidance

On the strength of its first-half operating performance, Mineros is raising its full-year 2026 consolidated gold production guidance to 220,000 to 240,000 ounces — an increase of 7,000 ounces at the top end relative to the original guidance of 213,000 to 233,000 ounces issued on February 6, 2026. The revision reflects sustained metallurgical outperformance and continued throughput gains at the Hemco Property and demonstrates the Company’s ability to convert operational momentum into growth.

When compared with guidance, first-half gold sold was 117,489 ounces (122,634 AuEq). Guidance for the Nechí Property (Colombia) remains unchanged at 83,000 to 93,000 ounces, underpinned by a stable operating plan. The upper end of the Hemco Property (Nicaragua) guidance is revised to 137,000–147,000 ounces (from the 130,000–140,000 range previously indicated), reflecting the performance delivered through the first half of the year.

Note to Guidance: The gold price assumed was USD $4,405 per ounce. The revised guidance for the Hemco Property reflects continued plant-capacity expansion and improved metallurgical recoveries. The Company continues to optimize silver recovery at the Hemco processing plant; any silver recovered is reported as gold equivalent (AuEq) sold using the then-prevailing average realized price per ounce sold of each metal. Silver is not currently classified as a Mineral Reserve or Mineral Resource.

Table 2 – Revised 2026 Production and Cost Guidance
Production and Cost Guidance	Units	Revised 2026 Guidance
Nechí Property (Colombia)
Gold Production	oz	83,000 – 93,000
AISC per oz sold – Company-Owned Dredges	$/oz	$1,820 – $1,920
AISC Margin – Contract Mining Partners	%	11 – 14
Hemco Property (Nicaragua)
Gold Production	oz	137,000 – 147,000
AISC per oz sold – Panama & Pioneer	$/oz	$2,000 – $2,100
AISC Margin – Bonanza Mining Partners	%	39 – 41
Consolidated
Gold Production	oz	220,000 – 240,000
Cash Cost per oz sold	$/oz	$2,070 – $2,170
AISC per oz sold	$/oz	$2,370 – $2,470

ABOUT MINEROS S.A.

Mineros is a preeminent Latin American gold mining company headquartered in Medellín, Colombia. The Company benefits from a diversified asset portfolio, encompassing operating mines in Colombia and Nicaragua, alongside a pipeline of development and exploration projects located throughout the region, including the La Pepa Project in Chile.

With an operating history spanning over 50 years, Mineros is defined by a commitment to safety, sustainability, and disciplined capital allocation. Its common shares are listed on the Toronto Stock Exchange (MSA) and the Colombia Stock Exchange (MINEROS), and trade on the OTCQX® Best Market under the symbol MNSAF.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information encompasses statements utilizing forward-looking terminology such as "may", "could", "would", "will", "should", "intend", "target", "plan", "expect", "estimate", "anticipate", "believe", "continue", "potential", "view" or the negative or grammatical variation thereof or comparable terminology. Such forward-looking information includes, but is not limited to, statements regarding the anticipated outcomes of ongoing operational improvement initiatives at the Hemco and Nechí Properties, the Company’s systematic capability to de-bottleneck the processing plant at Hemco, expected contributions derived from Bonanza Mining Partners’ ore processing, and the Company’s capacity to generate sustainable shareholder value throughout the remainder of 2026.

Forward-looking information is predicated upon management’s estimates and assumptions, reflecting management’s experience and assessment of prevailing conditions and anticipated developments, alongside other factors deemed relevant and reasonable in the circumstances as of the date of this news release. These assumptions include, without limitation: future commodity prices for gold and other metals; the accuracy of underlying mineral reserve and mineral resource estimates; projected production costs; equipment and process performance metrics; permitting timelines; assessments of political and regulatory stability; expectations regarding labour stability; and the maintenance of positive relations with local communities. While the Company assesses these assumptions as reasonable, they are fundamentally subject to significant business, social, economic, political, regulatory, competitive, and other inherent risks and uncertainties that possess the potential to cause actual results to diverge materially from the projections articulated in the forward-looking information.

There is no assurance that forward-looking information will ultimately prove to be accurate; actual results and future events may differ materially from those anticipated in such information. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. For a detailed discussion of risk factors, please refer to the "Risk Factors" section of the Company’s annual information form dated March 31, 2026, and management discussion and analysis for the year ended December 31, 2025, both available on SEDAR+ at www.sedarplus.com. Forward-looking information contained herein is presented as of the date of this news release, and the Company expressly disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or subsequent results, except as and to the extent explicitly required by applicable securities laws.