PMB Partners LP Announces C$83.1 Million Bought Public Secondary Offering of Andean Precious Metals Corp. Common Shares

Toronto, Ontario--(Newsfile Corp. - January 20, 2026) - PMB Partners LP ("PMB") an entity owned and controlled by Alberto Morales, Founder, Executive Chairman and CEO of Andean Precious Metals Corp. ("Andean" or the "Company") (TSX: APM) (OTCQX: ANPMF), is pleased to announce that it has entered into an agreement with Andean and National Bank Financial Inc. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase from PMB, on a bought deal basis, 7,915,000 common shares of the Company (the "Common Shares") at a price of C$10.50 per Common Share (the "Offering Price") for aggregate gross proceeds to PMB of C$83,107,500 (the "Secondary Offering").

PMB and the Company have granted the Underwriters a one time option, exercisable in whole or in part, on or prior to the second day preceding the Closing Date (as defined below), at the sole discretion of the Underwriters, to purchase up to an additional 15% of the number of Common Shares purchased pursuant to the Secondary Offering at the Offering Price (the "Underwriters' Option") to cover over-allotments, if any.

The net proceeds from the Secondary Offering will be paid directly to PMB. Andean will not receive any proceeds from the Secondary Offering.

The Secondary Offering is expected to close on or about January 28, 2026 (the "Closing Date"), or such other date as Andean, PMB, and the Underwriters may agree, and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals.

Further details regarding the Secondary Offering can be found in Andean's January 20, 2026 news release.

PMB currently holds an aggregate of 79,718,750 Common Shares, representing approximately 53.22% of the Company's issued and outstanding Common Shares. Following the closing of the Secondary Offering, but before giving effect to the Underwriters' Option, PMB will, in aggregate, beneficially own 71,803,750 Common Shares, representing 47.94% of the outstanding Common Shares of the Company. Following the closing of the Secondary Offering, and assuming that the Underwriters' Option is exercised in full, PMB will, in aggregate, beneficially own 70,616,500 Common Shares, representing 47.15% of the outstanding Common Shares of the Company.