{"success":true,"data":{"pressRelease":{"id":"150126","rtpr_id":"nNFC2D6bsJ-20260922","ticker":"MOG","exchange":"","all_tickers":["MOG"],"title":"Mogotes Update on Exploration Plans in 2026-2027","author":"Newsfile Corp","published_at":"2026-09-22T17:27:52.690Z","article_body":"Toronto, Ontario--(Newsfile Corp. - September 22, 2026) - Mogotes Metals Inc.\n(TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\" or the \"Company\") today\noutlines its exploration plans for the next 12 months at its Filo Sur project\nin Argentina and Chile, its Beskauga project in Kazakhstan and its Copper\nCliff project in Montana, USA. The Company has also released an updated\ncorporate presentation ahead of the Precious Metals Summit Beaver Creek.\n\n HIGHLIGHTS \n * Filo Sur drilling to more than triple: up to 20,000 m in 2026-2027, restarting in November 2026.  \n     \n \n* Both 2025-2026 discoveries lead the program: additional drilling at Albor and Cruz del Sur, follow up porphyry tests at Luz del Sol and first drilling at Cuenca, and reconnaissance along the Macho Muerto Fault Zone ( season results (https://api.newsfilecorp.com/redirect/KLoGBFwrDz)).  \n     \n \n* Beskauga drilling ramps up: up to 50,000 m of drilling, first assays expected in Q4 2026 and a preliminary economic assessment (PEA) targeted within 12 months.  \n     \n \n* Copper Cliff ready to drill once permitted: 8,000-9,000 m planned, with the earliest start in November 2026, under the option to joint venture with Kennecott, a Rio Tinto subsidiary. \n\n \nFilo Sur: Drilling Steps Up to 20,000 Metres\n\nMogotes plans up to 20,000 m of drilling at Filo Sur in the 2026-2027 season -\nmore than three times the 6,208 m drilled in 2025-2026 (see news release dated\nSeptember 4, 2026 (https://api.newsfilecorp.com/redirect/EZQVvh27Pg)).\nDrilling is targeted to restart in November 2026, subject to weather and site\naccess.\n\nThe program is built around the two discoveries made on the Macho Muerto Fault\nZone (MMFZ) last season. It has four priorities (Figure 1):\n1. Albor - extend the high-grade breccia discovery along strike and at depth,\nand make the first test of the porphyry target interpreted beneath it\n(September 4, 2026 (https://api.newsfilecorp.com/redirect/xEDkgHagky));\n\n\n2. Cruz del Sur - expansion drilling at the gold-copper porphyry discovered\nthis year, which remains open in all directions (May 1, 2026\n(https://api.newsfilecorp.com/redirect/7nq7MseGYj));\n\n\n3. Luz del Sol, Cuenca and Meseta - first porphyry tests at Cuenca and follow\nup on new target at Luz del Sol, and completion of the drill test at Meseta;\nand\n\n\n4. The MMFZ - reconnaissance drilling along the roughly 10 km of the structure\nwithin the project, most of which remains undrilled.\n(https://images.newsfilecorp.com/files/10597/315485_mogotes_figure1.jpg)\n\nFigure 1 Oblique aerial view of the Filo Sur concessions (light cyan) showing\nthe target areas planned for 2026-2027 exploration and drilling (magenta, pink\nand white outlines). First published in the news release dated September 4,\n2026.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/10597/315485_mogotes_figure1.jpg\n\nBeskauga: Drilling 50,000m and a Preliminary Economic Assessment\n\nAt Beskauga in Pavlodar Province, Kazakhstan, the Company has started\ndrilling, and plans to continue drilling up to 50,000 m drilling, with\ndrilling to continue until winter weather sets in. Mogotes expects first assay\nresults from the current program in the fourth quarter of 2026.\n\nThe Company is targeting a PEA within 12 months, to be followed by a\npre-feasibility study. Mogotes holds an option to acquire 100% of Beskauga\n(see news release dated February 27, 2026\n(https://api.newsfilecorp.com/redirect/ejk1qczoKR)).\n\nCopper Cliff: Drill-Ready Once Permitted\n\nAt Copper Cliff in Montana, the Company plans 8,000 to 9,000 m of drilling,\nwith the earliest possible start in November 2026. Permitting is pending and\nwork is ongoing in this regard.\n\nCopper Cliff is held under an option to enter a joint venture with Kennecott\nExploration Company, a subsidiary of Rio Tinto. Mogotes may earn a 51%\ninterest by funding US$16 million of exploration expenditure over three years\n(see news release dated April 15, 2026\n(https://api.newsfilecorp.com/redirect/87nems5xMy)).\n\nTable 1 summarizes the three programs.\n\nTable 1 Exploration programs planned for the next 12 months.\n\n PROJECT       PLANNED DRILLING  TIMING                                NEXT MILESTONE                              \n Filo Sur      Up to 20,000 m    Restart Nov 2026, weather permitting  results at Albor, Cruz del Sur, Cuenca      \n Beskauga      Up to 50,000 m    Under way; weather-dependent          First assays Q4 2026; PEA within 12 months  \n Copper Cliff  8,000-9,000 m     Earliest Nov 2026                     Drill permits                               \n\n \n\nUpdated Corporate Presentation for Beaver Creek\n\nMogotes has updated its corporate presentation ahead of its participation in\nthe Precious Metals Summit Beaver Creek in Colorado (September 22-25, 2026).\nIt sets out the results of the 2025-2026 Filo Sur season and the work planned\nacross all three projects over the next 12 months.\n\nThe presentation is available on DocSend\n(https://api.newsfilecorp.com/redirect/y4rBeca5Mv) and on the Company's\nwebsite at mogotesmetals.com\n(https://api.newsfilecorp.com/redirect/1KgWehwyPG).\n\nIn addition, the Company would like to clarify certain disclosure in its press\nrelease of August 27, 2026. The exercise of pre-emptive rights constituted a\nrelated party transaction within the meaning of TSX Venture Exchange Policy\n5.9 and Multilateral Instrument 61-101 - Protection of Minority Security\nHolders in Special Transactions (\"MI 61-101\") as insiders of the Company\npurchased an aggregate of 5,503,323 common shares pursuant to the placement.\nThe Company is relying on the exemptions from the valuation and minority\nshareholder approval requirements of MI 61-101 contained in sections 5.5(b)\nand 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market\nand the fair market value of the participation in the placement by the\ninsiders does not exceed 25% of the market capitalization of the Company in\naccordance with MI 61-101. The Company did not file a material change report\nin respect of the related party transaction at least 21 days before the\nclosing of the placement, which the Company deems reasonable in the\ncircumstances in order to complete the Placement in an expeditious manner.\n\n About Mogotes Metals Inc.\n\nMogotes Metals Inc. is a mineral exploration company focused on copper, gold\nand silver in the prospective Vicuña district of Argentina and Chile. The\nCompany's flagship Filo Sur project adjoins Lundin Mining's Filo del Sol - one\nof the world's largest copper-gold-silver discoveries¹ - and lies along the\nsame north-south trending belt as the Filo del Sol-Aurora deposits and NGEx\nMinerals' Lunahuasi and Los Helados copper-gold deposits.\n\nFor further information\n\nMogotes Metals Inc.\n\nAllen Sabet, President and Chief Executive Officer\n\nT: +1 (647) 846-3313 · E: info@mogotesmetals.com\n\nW: mogotesmetals.com (https://api.newsfilecorp.com/redirect/A8jN2F4qDW) · X:\n@mogotesmetals\n\nAdditional Information\n\nThe information contained in this news release was accurate at the time of\ndissemination but may be superseded by subsequent news release(s). The Company\nis under no obligation, nor does it intend, to update or revise the\nforward-looking information, whether as a result of new information, future\nevents or otherwise.\n\nQualified Person\n\nThe scientific and technical disclosure in this Presentation has been reviewed\nand approved by the Company's Qualified Persons (as defined under NI 43-101)\non a project-by-project basis, as follows: (a) the scientific and technical\ndisclosure relating to the Filo Sur Project has been reviewed and approved by\nCarl Schnell, MAIG, a Qualified Person as defined under NI 43-101 - Mr.\nSchnell is a consultant to the Company and is not considered independent for\nthe purposes of NI 43-101; (b) the scientific and technical disclosure\nrelating to the Copper Cliff Project has been reviewed and approved by Peter\nEllsworth, CPG, a Qualified Person as defined under NI 43-101 - Mr. Ellsworth\nis a consultant to the Company and is not considered independent for the\npurposes of NI 43-101; and (c) the scientific and technical disclosure\nrelating to the Beskauga Project has been reviewed and approved by Tony Worth,\nMAIG, a Qualified Person as defined under NI 43-101 - Mr. Worth is a\nconsultant to the Company and is not considered independent for the purposes\nof NI 43-101.\n\nThe Qualified Person has not verified the information regarding adjacent\nproperties such as Filo del Sol, and the information regarding mineralization\non the Filo del Sol project is not necessarily indicative of the\nmineralization on the Filo Sur project.\n\nCautionary Note Regarding Forward-Looking Statements\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCertain statements made and information contained herein constitute\n\"forward-looking information\" and \"forward-looking statements\" within the\nmeaning of applicable securities legislation (collectively, \"forward-looking\ninformation\"). The forward-looking information contained in this news release\nis based on information available to the Company as of the date of this news\nrelease. Except as required under applicable securities legislation, the\nCompany does not intend, and does not assume any obligation, to update this\nforward-looking information. Generally, this forward-looking information can\nfrequently, but not always, be identified by use of forward-looking\nterminology such as \"plans\", \"expects\" or \"does not expect\", \"is expected\",\n\"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"projects\",\n\"targets\", \"assumes\", \"strategy\", \"goals\", \"objectives\", \"potential\",\n\"possible\", \"anticipates\" or \"does not anticipate\", or \"believes\", or\nvariations of such words and phrases or statements that certain actions,\nevents, conditions or results \"will\", \"may\", \"could\", \"would\", \"should\",\n\"might\" or \"will be taken\", \"will occur\" or \"will be achieved\" or the negative\nconnotations thereof. All statements other than statements of historical fact\nmay be forward-looking statements.\n\nNo assurance can be given that this information will prove to be correct and\nsuch forward-looking information included in this news release should not be\nrelied upon. In particular, this news release contains forward-looking\ninformation pertaining to: the size, scope, cost, priorities and timing of the\nplanned 2026-2027 drill programs at the Filo Sur, Beskauga and Copper Cliff\nprojects, including the restart of drilling at Filo Sur in November 2026; the\nestimated cost of the Filo Sur program and the Beskauga program budget; the\nsufficiency of the Company's current treasury to fund those programs; the\ntiming of first assay results from the Beskauga program; the timing and\ncompletion of a preliminary economic assessment and a subsequent\npre-feasibility study at Beskauga; the receipt and timing of permits for\ndrilling at Copper Cliff; the Company's ability to earn an interest in the\nCopper Cliff project under its option to joint venture with Kennecott\nExploration Company; the interpretation of geology, geophysics and prior drill\nresults, and the prospectivity of exploration targets; expectations regarding\naccess and demand for equipment, skilled labour and services needed for\nexploration and development of mineral properties; and that activities will\nnot be adversely disrupted or impeded by exploration, development, operating,\nregulatory, political, community, economic, environmental and/or health and\nsafety risks. In addition, this news release may contain forward-looking\nstatements or information pertaining to: potential exploration upside at the\nCompany's projects; exploration plans and expenditures; the ability of the\nCompany to conduct its field programs as planned; the success of future\nexploration activities; potential for resource expansion; ability to build\nshareholder value; expectations with regard to adding to its Mineral Reserves\nor Resources through exploration; ability to execute planned work programs;\nplans or ability to mobilize or add additional drill rigs; timing or\nanticipated results of laboratory results; government regulation of mining\nactivities; environmental risks; unanticipated reclamation expenses; title\ndisputes or claims; limitations on insurance coverage; and other risks and\nuncertainties. While the Company anticipates running exploration programs, it\nmay encounter unexpected weather, logistics, community, access, permitting,\nlegal, environmental, drilling and other challenges, costs, or delays that\ncould prevent the Company from completing the programs on the expected\ntimeline or at all. Exploration at Filo Sur is seasonal and is carried out at\nhigh altitude in the Andes, where snowfall, storms, flooding, road closures\nand other adverse weather or climatic events may restrict access to site and\nsuspend or halt field and drilling activities for extended periods or for an\nentire season; drilling at Beskauga and Copper Cliff may likewise be\nconstrained by weather. Program costs may exceed estimates, and any work\nbeyond the programs described in this news release may depend on results and\non the Company securing additional funding. These programs could be delayed or\nnot be carried out at all. There is no assurance that the drilling described\nin this news release, or any part of it, will be carried out or completed; the\nCompany may complete materially fewer metres than planned, or may not drill at\nall.\n\nAlthough the Company believes that the expectations reflected in such\nforward-looking statements and/or information are based on assumptions that\nare reasonable, undue reliance should not be placed on forward-looking\nstatements since the Company can give no assurance that such expectations will\nprove to be correct. These statements involve known and unknown risks,\nuncertainties and other factors that may cause actual results or events to\ndiffer materially from those anticipated in such forward-looking statements,\nincluding the risks, uncertainties and other factors identified in the\nCompany's periodic filings with Canadian securities regulators, available\nunder the Company's SEDAR+ profile at www.sedarplus.ca, as well as, among\nother things: general business, economic and mining industry conditions;\nforeign exchange rates; weather, climatic and geological conditions; the\nsupply and demand for commodities; that financing will be available if and\nwhen needed on reasonable terms and that the Company will not experience any\nmaterial labour dispute, accident, or failure of plant or equipment; the\nstability and predictability of the political environments and legal and\nregulatory frameworks; the ability of the Company to obtain, maintain, renew\nand/or extend required permits, licences, authorizations and/or approvals from\nthe appropriate regulatory authorities; that contractual counterparties\nperform as agreed; and the ability of the Company to continue to obtain\nqualified staff and equipment in a timely and cost-efficient manner to meet\nits needs. These factors are not, and should not be construed as being,\nexhaustive. Although the Company has attempted to identify important factors\nthat would cause actual results to differ materially from those contained in\nforward-looking information, there may be other factors that cause results not\nto be as anticipated, estimated, or intended. There can be no assurance that\nsuch statements will prove to be accurate, as actual results and future events\ncould differ materially from those anticipated in such statements. All of the\nforward-looking information contained in this document is qualified by these\ncautionary statements. Readers are cautioned not to place undue reliance on\nforward-looking information due to the inherent uncertainty thereof.\nStatements relating to \"mineral resources\" are deemed to be forward-looking\ninformation, as they involve the implied assessment, based on certain\nestimates and assumptions, that the mineral resources described can be\nprofitably produced in the future. Forward-looking information is provided for\nthe purpose of providing information about management's current expectations\nand plans and allowing investors and others to get a better understanding of\nthe Company's operating environment.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/315485","article_body_html":"","raw_payload":{"data":{"id":"nNFC2D6bsJ-20260922","title":"Mogotes Update on Exploration Plans in 2026-2027","author":"Newsfile Corp","ticker":"MOG","created":"2026-09-22T17:27:52.690Z","tickers":["MOG"],"exchange":"","article_body":"Toronto, Ontario--(Newsfile Corp. - September 22, 2026) - Mogotes Metals Inc.\n(TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (\"Mogotes\" or the \"Company\") today\noutlines its exploration plans for the next 12 months at its Filo Sur project\nin Argentina and Chile, its Beskauga project in Kazakhstan and its Copper\nCliff project in Montana, USA. The Company has also released an updated\ncorporate presentation ahead of the Precious Metals Summit Beaver Creek.\n\n HIGHLIGHTS \n * Filo Sur drilling to more than triple: up to 20,000 m in 2026-2027, restarting in November 2026.  \n     \n \n* Both 2025-2026 discoveries lead the program: additional drilling at Albor and Cruz del Sur, follow up porphyry tests at Luz del Sol and first drilling at Cuenca, and reconnaissance along the Macho Muerto Fault Zone ( season results (https://api.newsfilecorp.com/redirect/KLoGBFwrDz)).  \n     \n \n* Beskauga drilling ramps up: up to 50,000 m of drilling, first assays expected in Q4 2026 and a preliminary economic assessment (PEA) targeted within 12 months.  \n     \n \n* Copper Cliff ready to drill once permitted: 8,000-9,000 m planned, with the earliest start in November 2026, under the option to joint venture with Kennecott, a Rio Tinto subsidiary. \n\n \nFilo Sur: Drilling Steps Up to 20,000 Metres\n\nMogotes plans up to 20,000 m of drilling at Filo Sur in the 2026-2027 season -\nmore than three times the 6,208 m drilled in 2025-2026 (see news release dated\nSeptember 4, 2026 (https://api.newsfilecorp.com/redirect/EZQVvh27Pg)).\nDrilling is targeted to restart in November 2026, subject to weather and site\naccess.\n\nThe program is built around the two discoveries made on the Macho Muerto Fault\nZone (MMFZ) last season. It has four priorities (Figure 1):\n1. Albor - extend the high-grade breccia discovery along strike and at depth,\nand make the first test of the porphyry target interpreted beneath it\n(September 4, 2026 (https://api.newsfilecorp.com/redirect/xEDkgHagky));\n\n\n2. Cruz del Sur - expansion drilling at the gold-copper porphyry discovered\nthis year, which remains open in all directions (May 1, 2026\n(https://api.newsfilecorp.com/redirect/7nq7MseGYj));\n\n\n3. Luz del Sol, Cuenca and Meseta - first porphyry tests at Cuenca and follow\nup on new target at Luz del Sol, and completion of the drill test at Meseta;\nand\n\n\n4. The MMFZ - reconnaissance drilling along the roughly 10 km of the structure\nwithin the project, most of which remains undrilled.\n(https://images.newsfilecorp.com/files/10597/315485_mogotes_figure1.jpg)\n\nFigure 1 Oblique aerial view of the Filo Sur concessions (light cyan) showing\nthe target areas planned for 2026-2027 exploration and drilling (magenta, pink\nand white outlines). First published in the news release dated September 4,\n2026.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/10597/315485_mogotes_figure1.jpg\n\nBeskauga: Drilling 50,000m and a Preliminary Economic Assessment\n\nAt Beskauga in Pavlodar Province, Kazakhstan, the Company has started\ndrilling, and plans to continue drilling up to 50,000 m drilling, with\ndrilling to continue until winter weather sets in. Mogotes expects first assay\nresults from the current program in the fourth quarter of 2026.\n\nThe Company is targeting a PEA within 12 months, to be followed by a\npre-feasibility study. Mogotes holds an option to acquire 100% of Beskauga\n(see news release dated February 27, 2026\n(https://api.newsfilecorp.com/redirect/ejk1qczoKR)).\n\nCopper Cliff: Drill-Ready Once Permitted\n\nAt Copper Cliff in Montana, the Company plans 8,000 to 9,000 m of drilling,\nwith the earliest possible start in November 2026. Permitting is pending and\nwork is ongoing in this regard.\n\nCopper Cliff is held under an option to enter a joint venture with Kennecott\nExploration Company, a subsidiary of Rio Tinto. Mogotes may earn a 51%\ninterest by funding US$16 million of exploration expenditure over three years\n(see news release dated April 15, 2026\n(https://api.newsfilecorp.com/redirect/87nems5xMy)).\n\nTable 1 summarizes the three programs.\n\nTable 1 Exploration programs planned for the next 12 months.\n\n PROJECT       PLANNED DRILLING  TIMING                                NEXT MILESTONE                              \n Filo Sur      Up to 20,000 m    Restart Nov 2026, weather permitting  results at Albor, Cruz del Sur, Cuenca      \n Beskauga      Up to 50,000 m    Under way; weather-dependent          First assays Q4 2026; PEA within 12 months  \n Copper Cliff  8,000-9,000 m     Earliest Nov 2026                     Drill permits                               \n\n \n\nUpdated Corporate Presentation for Beaver Creek\n\nMogotes has updated its corporate presentation ahead of its participation in\nthe Precious Metals Summit Beaver Creek in Colorado (September 22-25, 2026).\nIt sets out the results of the 2025-2026 Filo Sur season and the work planned\nacross all three projects over the next 12 months.\n\nThe presentation is available on DocSend\n(https://api.newsfilecorp.com/redirect/y4rBeca5Mv) and on the Company's\nwebsite at mogotesmetals.com\n(https://api.newsfilecorp.com/redirect/1KgWehwyPG).\n\nIn addition, the Company would like to clarify certain disclosure in its press\nrelease of August 27, 2026. The exercise of pre-emptive rights constituted a\nrelated party transaction within the meaning of TSX Venture Exchange Policy\n5.9 and Multilateral Instrument 61-101 - Protection of Minority Security\nHolders in Special Transactions (\"MI 61-101\") as insiders of the Company\npurchased an aggregate of 5,503,323 common shares pursuant to the placement.\nThe Company is relying on the exemptions from the valuation and minority\nshareholder approval requirements of MI 61-101 contained in sections 5.5(b)\nand 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market\nand the fair market value of the participation in the placement by the\ninsiders does not exceed 25% of the market capitalization of the Company in\naccordance with MI 61-101. The Company did not file a material change report\nin respect of the related party transaction at least 21 days before the\nclosing of the placement, which the Company deems reasonable in the\ncircumstances in order to complete the Placement in an expeditious manner.\n\n About Mogotes Metals Inc.\n\nMogotes Metals Inc. is a mineral exploration company focused on copper, gold\nand silver in the prospective Vicuña district of Argentina and Chile. The\nCompany's flagship Filo Sur project adjoins Lundin Mining's Filo del Sol - one\nof the world's largest copper-gold-silver discoveries¹ - and lies along the\nsame north-south trending belt as the Filo del Sol-Aurora deposits and NGEx\nMinerals' Lunahuasi and Los Helados copper-gold deposits.\n\nFor further information\n\nMogotes Metals Inc.\n\nAllen Sabet, President and Chief Executive Officer\n\nT: +1 (647) 846-3313 · E: info@mogotesmetals.com\n\nW: mogotesmetals.com (https://api.newsfilecorp.com/redirect/A8jN2F4qDW) · X:\n@mogotesmetals\n\nAdditional Information\n\nThe information contained in this news release was accurate at the time of\ndissemination but may be superseded by subsequent news release(s). The Company\nis under no obligation, nor does it intend, to update or revise the\nforward-looking information, whether as a result of new information, future\nevents or otherwise.\n\nQualified Person\n\nThe scientific and technical disclosure in this Presentation has been reviewed\nand approved by the Company's Qualified Persons (as defined under NI 43-101)\non a project-by-project basis, as follows: (a) the scientific and technical\ndisclosure relating to the Filo Sur Project has been reviewed and approved by\nCarl Schnell, MAIG, a Qualified Person as defined under NI 43-101 - Mr.\nSchnell is a consultant to the Company and is not considered independent for\nthe purposes of NI 43-101; (b) the scientific and technical disclosure\nrelating to the Copper Cliff Project has been reviewed and approved by Peter\nEllsworth, CPG, a Qualified Person as defined under NI 43-101 - Mr. Ellsworth\nis a consultant to the Company and is not considered independent for the\npurposes of NI 43-101; and (c) the scientific and technical disclosure\nrelating to the Beskauga Project has been reviewed and approved by Tony Worth,\nMAIG, a Qualified Person as defined under NI 43-101 - Mr. Worth is a\nconsultant to the Company and is not considered independent for the purposes\nof NI 43-101.\n\nThe Qualified Person has not verified the information regarding adjacent\nproperties such as Filo del Sol, and the information regarding mineralization\non the Filo del Sol project is not necessarily indicative of the\nmineralization on the Filo Sur project.\n\nCautionary Note Regarding Forward-Looking Statements\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCertain statements made and information contained herein constitute\n\"forward-looking information\" and \"forward-looking statements\" within the\nmeaning of applicable securities legislation (collectively, \"forward-looking\ninformation\"). The forward-looking information contained in this news release\nis based on information available to the Company as of the date of this news\nrelease. Except as required under applicable securities legislation, the\nCompany does not intend, and does not assume any obligation, to update this\nforward-looking information. Generally, this forward-looking information can\nfrequently, but not always, be identified by use of forward-looking\nterminology such as \"plans\", \"expects\" or \"does not expect\", \"is expected\",\n\"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"projects\",\n\"targets\", \"assumes\", \"strategy\", \"goals\", \"objectives\", \"potential\",\n\"possible\", \"anticipates\" or \"does not anticipate\", or \"believes\", or\nvariations of such words and phrases or statements that certain actions,\nevents, conditions or results \"will\", \"may\", \"could\", \"would\", \"should\",\n\"might\" or \"will be taken\", \"will occur\" or \"will be achieved\" or the negative\nconnotations thereof. All statements other than statements of historical fact\nmay be forward-looking statements.\n\nNo assurance can be given that this information will prove to be correct and\nsuch forward-looking information included in this news release should not be\nrelied upon. In particular, this news release contains forward-looking\ninformation pertaining to: the size, scope, cost, priorities and timing of the\nplanned 2026-2027 drill programs at the Filo Sur, Beskauga and Copper Cliff\nprojects, including the restart of drilling at Filo Sur in November 2026; the\nestimated cost of the Filo Sur program and the Beskauga program budget; the\nsufficiency of the Company's current treasury to fund those programs; the\ntiming of first assay results from the Beskauga program; the timing and\ncompletion of a preliminary economic assessment and a subsequent\npre-feasibility study at Beskauga; the receipt and timing of permits for\ndrilling at Copper Cliff; the Company's ability to earn an interest in the\nCopper Cliff project under its option to joint venture with Kennecott\nExploration Company; the interpretation of geology, geophysics and prior drill\nresults, and the prospectivity of exploration targets; expectations regarding\naccess and demand for equipment, skilled labour and services needed for\nexploration and development of mineral properties; and that activities will\nnot be adversely disrupted or impeded by exploration, development, operating,\nregulatory, political, community, economic, environmental and/or health and\nsafety risks. In addition, this news release may contain forward-looking\nstatements or information pertaining to: potential exploration upside at the\nCompany's projects; exploration plans and expenditures; the ability of the\nCompany to conduct its field programs as planned; the success of future\nexploration activities; potential for resource expansion; ability to build\nshareholder value; expectations with regard to adding to its Mineral Reserves\nor Resources through exploration; ability to execute planned work programs;\nplans or ability to mobilize or add additional drill rigs; timing or\nanticipated results of laboratory results; government regulation of mining\nactivities; environmental risks; unanticipated reclamation expenses; title\ndisputes or claims; limitations on insurance coverage; and other risks and\nuncertainties. While the Company anticipates running exploration programs, it\nmay encounter unexpected weather, logistics, community, access, permitting,\nlegal, environmental, drilling and other challenges, costs, or delays that\ncould prevent the Company from completing the programs on the expected\ntimeline or at all. Exploration at Filo Sur is seasonal and is carried out at\nhigh altitude in the Andes, where snowfall, storms, flooding, road closures\nand other adverse weather or climatic events may restrict access to site and\nsuspend or halt field and drilling activities for extended periods or for an\nentire season; drilling at Beskauga and Copper Cliff may likewise be\nconstrained by weather. Program costs may exceed estimates, and any work\nbeyond the programs described in this news release may depend on results and\non the Company securing additional funding. These programs could be delayed or\nnot be carried out at all. There is no assurance that the drilling described\nin this news release, or any part of it, will be carried out or completed; the\nCompany may complete materially fewer metres than planned, or may not drill at\nall.\n\nAlthough the Company believes that the expectations reflected in such\nforward-looking statements and/or information are based on assumptions that\nare reasonable, undue reliance should not be placed on forward-looking\nstatements since the Company can give no assurance that such expectations will\nprove to be correct. These statements involve known and unknown risks,\nuncertainties and other factors that may cause actual results or events to\ndiffer materially from those anticipated in such forward-looking statements,\nincluding the risks, uncertainties and other factors identified in the\nCompany's periodic filings with Canadian securities regulators, available\nunder the Company's SEDAR+ profile at www.sedarplus.ca, as well as, among\nother things: general business, economic and mining industry conditions;\nforeign exchange rates; weather, climatic and geological conditions; the\nsupply and demand for commodities; that financing will be available if and\nwhen needed on reasonable terms and that the Company will not experience any\nmaterial labour dispute, accident, or failure of plant or equipment; the\nstability and predictability of the political environments and legal and\nregulatory frameworks; the ability of the Company to obtain, maintain, renew\nand/or extend required permits, licences, authorizations and/or approvals from\nthe appropriate regulatory authorities; that contractual counterparties\nperform as agreed; and the ability of the Company to continue to obtain\nqualified staff and equipment in a timely and cost-efficient manner to meet\nits needs. These factors are not, and should not be construed as being,\nexhaustive. Although the Company has attempted to identify important factors\nthat would cause actual results to differ materially from those contained in\nforward-looking information, there may be other factors that cause results not\nto be as anticipated, estimated, or intended. There can be no assurance that\nsuch statements will prove to be accurate, as actual results and future events\ncould differ materially from those anticipated in such statements. All of the\nforward-looking information contained in this document is qualified by these\ncautionary statements. Readers are cautioned not to place undue reliance on\nforward-looking information due to the inherent uncertainty thereof.\nStatements relating to \"mineral resources\" are deemed to be forward-looking\ninformation, as they involve the implied assessment, based on certain\nestimates and assumptions, that the mineral resources described can be\nprofitably produced in the future. Forward-looking information is provided for\nthe purpose of providing information about management's current expectations\nand plans and allowing investors and others to get a better understanding of\nthe Company's operating environment.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/315485"},"type":"article","timestamp":"2026-09-22T17:27:52.733154529Z","server_sent_at_ms":1790098072733},"received_at":"2026-09-22T17:27:52.953Z","source_url":"https://www.newsfilecorp.com/release/315485"},"analysis":{"id":"138862","press_release_id":"150126","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Insider participation in recent placement disclosed as related party transaction with delayed material change report","Company cautions programs depend on securing additional funding; may drill materially fewer metres than planned","Filo Sur drilling is seasonal at high altitude in the Andes and subject to weather-related suspension"],"eventType":"operations_update","narrative":"Mogotes Metals outlined plans for up to 20,000 m of drilling at Filo Sur in 2026-2027, more than triple the 6,208 m drilled last season, restarting in November 2026 and focused on the Albor and Cruz del Sur discoveries.\n\nAt Beskauga in Kazakhstan, up to 50,000 m of drilling is under way with first assays expected in Q4 2026 and a preliminary economic assessment targeted within 12 months.\n\nCopper Cliff in Montana is drill-ready with 8,000-9,000 m planned pending permits, held under an option to joint venture with Kennecott (Rio Tinto) under which Mogotes can earn 51% by funding US$16 million over three years.\n\nThe company also clarified that insider participation of 5,503,323 shares in an August 2026 placement was a related party transaction under MI 61-101, relying on standard exemptions.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Major drill ramp-up across three projects sets up a catalyst-rich 12 months -- watch Q4 2026 Beskauga assays as the first readout."},"keyFigures":{"customDimensions":{"mmfz_strike_km":10,"copper_cliff_earn_in":"51% interest by funding US$16 million over three years","beskauga_planned_drilling_m":50000,"filo_sur_planned_drilling_m":20000,"copper_cliff_planned_drilling_m":"8,000-9,000","filo_sur_prior_season_drilling_m":6208}},"quotedText":"Filo Sur drilling to more than triple: up to 20,000 m in 2026-2027, restarting in November 2026.","namedEntities":{"people":[{"name":"Allen Sabet","role":"President and CEO"},{"name":"Carl Schnell","role":"Qualified Person (Filo Sur)"},{"name":"Peter Ellsworth","role":"Qualified Person (Copper Cliff)"},{"name":"Tony Worth","role":"Qualified Person (Beskauga)"}],"products":["Filo Sur project","Beskauga project","Copper Cliff project","Albor","Cruz del Sur","Luz del Sol","Cuenca","Meseta"],"companies":[{"name":"Mogotes Metals Inc.","ticker":"MOG","relationship":"filer"},{"name":"Kennecott Exploration Company","relationship":"joint venture option partner (Rio Tinto subsidiary)"},{"name":"Rio Tinto","relationship":"parent of JV option partner"},{"name":"Lundin Mining","relationship":"adjacent property holder (Filo del Sol)"},{"name":"NGEx Minerals","relationship":"adjacent property holder (Lunahuasi, Los Helados)"}],"dollarAmounts":[{"amount":"US$16 million","context":"exploration expenditure Mogotes must fund over three years to earn 51% of Copper Cliff"}]},"materialImpact":{"score":2,"reasoning":"Aggressive 12-month exploration ramp-up across three projects (Filo Sur drilling tripling to 20,000 m; Beskauga 50,000 m plus PEA target; Copper Cliff drill-ready pending permits), but these are plans, not assay results, and execution depends on funding and weather."},"tickerRelevance":{"others":[],"primary":"MOG"},"globalImportance":20,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap TSXV","eventGravity":"exploration-plan-guidance","issuerAuthored":true,"resultsDependent":true}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Mogotes Metals outlined plans for up to 20,000 m of drilling at Filo Sur in 2026-2027, more than triple the 6,208 m drilled last season, restarting in November 2026 and focused on the Albor and Cruz del Sur discoveries.\n\nAt Beskauga in Kazakhstan, up to 50,000 m of drilling is under way with first assays expected in Q4 2026 and a preliminary economic assessment targeted within 12 months.\n\nCopper Cliff in Montana is drill-ready with 8,000-9,000 m planned pending permits, held under an option to joint venture with Kennecott (Rio Tinto) under which Mogotes can earn 51% by funding US$16 million over three years.\n\nThe company also clarified that insider participation of 5,503,323 shares in an August 2026 placement was a related party transaction under MI 61-101, relying on standard exemptions.","key_figures":{"customDimensions":{"mmfz_strike_km":10,"copper_cliff_earn_in":"51% interest by funding US$16 million over three years","beskauga_planned_drilling_m":50000,"filo_sur_planned_drilling_m":20000,"copper_cliff_planned_drilling_m":"8,000-9,000","filo_sur_prior_season_drilling_m":6208}},"named_entities":{"people":[{"name":"Allen Sabet","role":"President and CEO"},{"name":"Carl Schnell","role":"Qualified Person (Filo Sur)"},{"name":"Peter Ellsworth","role":"Qualified Person (Copper Cliff)"},{"name":"Tony Worth","role":"Qualified Person (Beskauga)"}],"products":["Filo Sur project","Beskauga project","Copper Cliff project","Albor","Cruz del Sur","Luz del Sol","Cuenca","Meseta"],"companies":[{"name":"Mogotes Metals Inc.","ticker":"MOG","relationship":"filer"},{"name":"Kennecott Exploration Company","relationship":"joint venture option partner (Rio Tinto subsidiary)"},{"name":"Rio Tinto","relationship":"parent of JV option partner"},{"name":"Lundin Mining","relationship":"adjacent property holder (Filo del Sol)"},{"name":"NGEx Minerals","relationship":"adjacent property holder (Lunahuasi, Los Helados)"}],"dollarAmounts":[{"amount":"US$16 million","context":"exploration expenditure Mogotes must fund over three years to earn 51% of Copper Cliff"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-22T17:28:00.677Z","global_importance":20,"audience_relevance":15,"importance_components":{"tickerTier":"micro-cap TSXV","eventGravity":"exploration-plan-guidance","issuerAuthored":true,"resultsDependent":true}},"durationMs":7716,"modelName":"glm-5.3-flashx"}}