Western Metallica Resources Corp. Provides Update on Exclusivity and Binding Option Agreement for Nueva Celti Copper Project

TORONTO--(BUSINESS WIRE)--Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) provides a status update to its previously announced Exclusivity and Binding Option Agreement (the "Option Agreement") with AJAX Resources PLC. (AQSE: AJAX) ("AJAX"), pursuant to which Ajax has secured an exclusive and irrevocable option to acquire 100% of the issued share capital of Western Metallica, S.L., a fully owned Spanish subsidiary of Western Metallica which owns the Nueva Celti Copper Project located in Andalusia, Spain (the “Proposed Acquisition”) (See news release dated August 7, 2026).

Ajax continues to progress its due diligence and the parties continue to progress the negotiation of definitive documentation in order to close the transaction in the near-term. The Company has agreed to extend the exclusivity period to October 30, 2026 and is anticipating closing the transaction before then.

The Company has received TSXV conditional approval for the transaction subject to the completion of various closing conditions, including without limitation, shareholder approval.

About Western Metallica Resources Corp.

Western Metallica is an Ontario company with its head office in Toronto, Ontario. Western Metallica is in the business of mineral resource exploration and development, its principal asset is its 100% owned Penedela Gold Property in the “Navelgas Gold Belt” in Asturias, Spain. Western Metallica also has an interest in two other Spanish gold projects in the “Navelgas Gold Belt” in Asturias (Valledor and Sierra Alta) and one project located in Andalucia (Nueva Celti).

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Western Metallica Resources Corp. Forward looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The forward-looking information contained in this press release, includes, but is not limited to, completion and timing of the Consolidation and the Debt Settlement and approval thereof by the TSXV and the Company’s shareholders, the expected benefits of the Consolidation and the Debt Settlement and the Company’s future plans. Although Western Metallica Resources Corp. believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Western Metallica Resources Corp. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.