Peruvian Metals Announces Gold Recoveries of 89% in Sulphides at Palta Dorada

Edmonton, Alberta--(Newsfile Corp. - January 21, 2026) - Peruvian Metals Corp - (TSX: PER) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce updated metallurgical results on both oxide and sulphide Au-Ag material on its 100% owned Palta Dorada Gold-Silver property ("Property") located in the Ancash department in Northern Peru. New metallurgical work on gold recoveries in both the oxide and sulphide material shows recoveries exceeding 80%. The new metallurgical work was conducted on the main San Juan vein where a rehabilitated historic 53-metre-deep shaft ("shaft") provided good exposure to both the sulphides and oxides on this main mineralized structure.

The Property covers an area of approximately 2,250 hectares. It is accessible from Peruvian Metals Aguila Norte processing plant ("Aguila Norte" or the "Plant") by approximately 120 kilometres of mainly paved roadway. Sulphide material will be treated at the Plant whereas oxide gold material will be initially sold to local toll mills.

The new updated metallurgical results on the sulphide material taken in the shaft show positive recoveries. The head grade of the new metallurgical sample assayed 8.30 grams Au/mt and 3.39 ounces Ag/mt. Precious metal recoveries on the sulphide material using flotation returned 89% for gold and 61% for silver. The metallurgical sample was taken as a composite over 1 metre located 10 metres below the oxide and sulphide transition. Previously announced assay results on seven chip samples taken at various depths in the shaft from the quartz vein containing sulphides returned a weighted average of 10.51 grams Au/mt, 329 grams Ag/mt and 1.74 per cent Cu. Assay results from these samples range from 3.06 to 24.1 grams Au/mt, 36 to 865 grams Ag/mt and 0.31 per cent Cu to 4.94 per cent Cu over an average width of 0.60 metres. The metallurgical work was performed by Ing. Jose Orlando Moncada Rejas who is the main metallurgist at the Aguila Norte Plant. Assaying was performed by Procesmin Ingenieros SRL located in Caraz Ancash by fire assay for Au-Ag.

The head grade from the oxide material taken in the shaft above the sulphide mineralization returned 35.1 grams Au/mt and 1.51 ounces Ag/mt. The sample taken was a composite over ½ metre width. Agitated cyanide leaching results show recoveries of 82% for gold and 58% for silver over 48 hours. Thirty-one tonnes of gold bearing oxide material assaying 9.74 grams Au/mt was taken from this area in June 2022 and sold to the Chala One toll mill located in Chala Peru. The price of gold used for the sale was $1852 US with gold recoveries of 90%.