Mogotes Metals Provides Update on Board of Directors

Toronto, Ontario--(Newsfile Corp. - August 7, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) ("Mogotes", or the "Company") announces that, effective today, Mr. Stephen Nano has resigned as a director of the Company.

Mr. Nano has served as director, principal technical advisor and Chartered Professional for technical disclosure since the inception of the Company in September 2022. Over this time, he has made significant strategic, technical and capital-raising contributions during a period in which Mogotes has grown rapidly from its listing in June 2024 into a well-funded company with a strong portfolio of exploration to resource-stage copper-gold projects in the Americas and Central Asia.

Mogotes wishes to acknowledge Mr. Nano's significant role in building the Company's profile as a leading copper-gold explorer in the prolific Vicuña District, as well as his contributions to the evaluation of the Beskauga project in Kazakhstan and the Copper Cliff joint venture with Rio Tinto in the USA. His technical leadership and program design have been instrumental in rapidly advancing the Filo Sur project, culminating in this season's announcements of the Arbor and Cruz del Sur (CDS) "discovery" drill intercepts, located along strike from the large BHP / Lundin Filo Del Sol copper-gold-silver development project.

Mr. Nano will continue to support the Company in a Technical Advisor capacity with his more than 38 years of international exploration and corporate experience across the Americas, Central Asia and Asia-Pacific, along with his significant porphyry and epithermal deposit knowledge as Mogotes advances the exploration of the Filo Sur, Beskauga and Copper Cliff projects.

Cautionary Note Regarding Forward-Looking Statements:

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

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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