Latin Metals Signs Definitive Option Agreement for Huachi Copper-Gold Project, San Juan Province, Argentina

VANCOUVER, British Columbia, June 23, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") - (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce that it has entered into a definitive option agreement (the "Agreement") with Golden Arrow Resources Corp. ("Golden Arrow") to acquire up to a 100% interest in the Huachi property ("Huachi"), a 3,500-hectare copper-gold project located in San Juan Province, Argentina (see previous news release, dated March 13, 2024). The Huachi property is immediately contiguous with Latin Metals’ Esperanza project (Figure 1).

Figure 1: Location of the Huachi property, located immediately west of the Company’s Esperanza property, San Juan Province, Argentina.

Definitive Agreement Terms

Latin Metals has the right to acquire an initial 75% interest in the Huachi property by completing US$1,000,000 in exploration expenditures and US$1,000,000 in cash payments to Golden Arrow over a four-year period (Table 1).

Upon earning the 75% interest, Latin Metals has a Top-Up Right to acquire the remaining 25% interest (for an aggregate 100% ownership) by paying US$2,000,000 in cash to Golden Arrow within 90 days (Table 1).

Should Latin Metals choose not to exercise the Top-Up Right, the parties will form a joint venture (JV) with Latin Metals holding 75% and Golden Arrow 25%. Each party will fund its pro-rata share of future expenditures. A party diluting below 15% will have its interest converted to a 1% net smelter return (NSR) royalty.

Work commitments and cash payments commence on the first anniversary of approval of the environmental permit (Declaración de Impacto Ambiental or DIA), approving the start of exploration activities including drilling (the "Commencement Date").

Table 1: Commercial Terms to Acquire up to 100% Interest in the Huachi Property, San Juan Province

Anniversary Following the Commencement Date	Work Commitment USD	Cash Payments USD	Vesting
First Anniversary	$100,000	$100,000	-
Second Anniversary	$150,000	$150,000	-
Third Anniversary	$250,000	$250,000	-
Fourth Anniversary	$500,000	$500,000	75%
Top-Up Right	-	$2,000,000	25%
Total	$1,000,000	$3,000,000	100%

About the Esperanza and Huachi Projects