{"success":true,"data":{"pressRelease":{"id":"164530","rtpr_id":"nGNX2FwPcb-20261008","ticker":"LMS","exchange":"","all_tickers":["LMS"],"title":"Latin Metals Reports Partner-Funded Phase II Drilling Underway at Cerro Bayo and Initial Drilling at La Flora","author":"Globe Newswire","published_at":"2026-10-08T13:59:42.129Z","article_body":"VANCOUVER, British Columbia, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Latin Metals\nInc. (“Latin Metals” or the “Company”) - (TSXV: LMS and OTCQB: LMSQF)\nis pleased to report that its option partner, Daura Gold Corp. (“Daura”),\nhas commenced Phase II diamond drilling at the Cerro Bayo and La Flora\ngold-silver projects in Santa Cruz Province, Argentina.\n\nThe approximately 1,600-metre, 20-hole Phase II program is planned across four\ntargets. Drilling has commenced at La Flora with approximately 900 metres in\n12 holes, representing the first-ever drilling at the project. Drilling is\nthen planned to move to Cerro Bayo for follow-up drilling at Elena and Ingrid\nand first-pass drilling at Gabriela.\n\nDaura is funding exploration under an option agreement pursuant to which it\nmay earn up to an 80% interest in the Projects.\n\nHighlights Include\n* La Flora: approximately 900 metres in 12 holes, representing the first drill\ntest of the previously undrilled La Flora vein system.\n* Historical sampling at La Flora returned up to 82.19 g/t gold and 1,239.28\ng/t silver. Sampling completed in 2026 returned 63.88 g/t gold and 175.34 g/t\nsilver, with visible gold observed.\n* Cerro Bayo: follow-up drilling is planned at Elena and Ingrid, with\nfirst-pass drilling at Gabriela.\nKeith Henderson, President and CEO of Latin Metals, commented:\n“Phase II drilling is an important next step for Cerro Bayo and La Flora.\nPhase I drilling at Cerro Bayo identified gold and silver mineralization\nacross multiple target areas, and the current program is designed to follow up\nthe Elena and Ingrid targets while also testing Gabriela for the first time.\n\n“La Flora represents a significant milestone for the program because the\nproject has never previously been drilled. Latin Metals advanced the target\nthrough surface exploration, and Daura is now testing the vein system below\nsurface for the first time. The program is fully funded by our partner under\nthe option agreement, providing Latin Metals with continued exposure to\nexploration at both projects.”\n\nPhase II Drilling\nAt La Flora, surface exploration has defined two mineralized veins within an\napproximately one-kilometre outcropping vein system. The current drill program\nwill test both veins, including the main La Flora vein, which hosts the\nhighest-grade historical samples. Paired drill holes are designed to establish\nvein geometry and test continuity of mineralization below surface.\n\nLatin Metals previously reported the 2026 La Flora sampling results on June\n29, 2026\n(https://www.globenewswire.com/Tracker?data=rym20jTgNX-POzz6MxXoJB6fJMRyoyzqi_3srMNg7prXQ5JJN4dxlisNDfENjr7rgqOO2DfdE9twYPk4ONxkHtZBE-TnbXGug6n0K2eGlbLexNF_zUFv_tr1VSKbWZUeR9OiLVb46teOfNvP2uU42543qm05IMa81XKj5J5tKfQSRLhZSllObBznicc9D2gz-VbI7xJpUMVSrunTEY82DA==),\nwhen the Company identified La Flora as a priority target for Phase II\ndrilling.\n\nSurface samples are selective in nature and are not necessarily representative\nof the overall grade or mineralization of the La Flora vein system.\n\nFollowing La Flora, drilling is planned to move to Cerro Bayo:\n* Elena: two holes totaling approximately 200 metres are planned to test the\nextent of near-surface gold mineralization identified during Phase I.\n* Ingrid: four step-out holes totaling approximately 350 metres are planned to\ntest continuity of silver-gold mineralization intersected during Phase I.\n* Gabriela: two holes totaling approximately 150 metres are planned to provide\nthe first drill test of a northwest-trending structure traced for more than\n600 metres.\nLatin Metals reported the initial Phase I drill results from Cerro Bayo on May\n21, 2026\n(https://www.globenewswire.com/Tracker?data=ANgelsFwqCYg7kpCqFWENVfghGm0JNpnKn-j_SceB8QvuJfwWKMH609GkJsPd8LiK0e6BgyJsTLGqGTkX-Pr4eKtf4xYgEIly4lcFCzKJQphWIyKMiV-GfyK8JiCj_lShuf4A7h_U5jnmtrNbhpl6LeInmrenP84a98qbqQvd-PdX7xPiuxTiWEUR5WK8a2Ldtqqq2oJtbC5EIf8uXsLuw==),\nincluding multiple zones of gold and silver mineralization and high-grade\nintervals at Elena and Ingrid.\n\n\n\nCerro Bayo and La Flora are located within the Deseado Massif. At Cerro Bayo,\nexploration has outlined an approximately 8 km-wide structural corridor\nhosting multiple low-sulphidation epithermal vein targets, while La Flora\ncomprises an approximately one-kilometre vein system that had not previously\nbeen drill tested.\n\nAgreement with Daura\nUnder the terms of the option agreement, Daura may earn an initial 75%\ninterest in the Cerro Bayo and La Flora projects, with a right to increase its\ninterest to 80%, by completing staged cash payments and exploration\ncommitments.\n\nTo earn its initial interest, Daura is required to make aggregate payments of\nUS$1.7 million to Latin Metals, assume US$400,000 in payments to the\nunderlying vendor, complete 28,000 metres of drilling, and prepare and deliver\nan NI 43-101 technical report containing a mineral resource estimate.\n\nTo date, Daura has paid US$300,000 to Latin Metals, US$250,000 to the\nunderlying vendor, and completed approximately 1,850 metres of Phase I\ndrilling, with Phase II drilling now underway.\n\nQualified Person\nEduardo Leon, QP, is the Company's qualified person as defined by NI 43-101\nand has reviewed the scientific and technical information that forms the basis\nfor portions of this news release. He has approved the scientific and\ntechnical disclosure herein. Mr. Leon is not independent of the Company, as he\nis an employee of the Company and holds securities of the Company.\n\nAbout Latin Metals\nLatin Metals Inc. is a copper, gold and silver exploration company operating\nin Peru and Argentina under a prospect generator model, minimizing risk and\ndilution while maximizing discovery potential. The company secures option\nagreements with partners to fund exploration. This approach provides\nearly-stage exposure to high-value mineral assets. Latin Metals is actively\nseeking new strategic partners to advance its portfolio.\n\nUpcoming Events\nLatin Metals is pleased to announce its participation in several industry\nconferences, providing a platform to connect with investors, industry leaders,\nand potential partners:\n* New Orleans Investment Conference – New Orleans, Louisiana, USA, October\n28-31, 2026\n* 121 London – London, UK, November 23-24, 2026\nThese events offer valuable opportunities to share Latin Metals' exploration\nprogress in Argentina and Peru, highlight the advantages of its low-dilution\nprospect generator model, and explore strategic investment and partnership\nopportunities across its gold, copper, and silver-focused portfolio.\n\nStay Connected\n\nFollow Latin Metals on YouTube\n(https://www.globenewswire.com/Tracker?data=WPJc8O3P9Z-NV4SzK9GfezWjaOuac63UKHqfC6KS7sVqMUPvKyovAwGRymAr8sHceempiQFPY-XxzCRyVMFEKa7gUkOhtwkIiaMrT_qlu4o=),\nX\n(https://www.globenewswire.com/Tracker?data=wMZh_HbFv0DhcjwYfLjNCFVQYiA_4FWDqMrwLDdWItKv8CUDu1Y4JZNNfXndFreYW4qhFaMNcGxDCRAebenSgw==),\nFacebook\n(https://www.globenewswire.com/Tracker?data=syW2t7jbxt82tjMVgPj3TI7nHFKBrY5dWIehi8b_erjM5znfgIjkb99yV-LzCp-4l1Cye8G7WfL3M_5bJZ_8VVuSRxQC6vl0iWJv6Ekgu_o=),\nLinkedIn\n(https://www.globenewswire.com/Tracker?data=mKeArVQK2HMQWbsWFS2ub7m8aye7mMns61um2uuNz0MzkTaNu4GCHsWHxJJDM8fxHAD6Iy7Y8KvGQJhMRNtEaqr1GkBT8WLLJyEU9Xpanbg=)\nand Instagram\n(https://www.globenewswire.com/Tracker?data=8pBTWzofPgFHUuFY1JyN5ieQFR64rOF5keFBY4cjPJ72LS38CnsK80OGDp7p0ofksXgHeZX4ZFKfUR45xeScBTsmt_zSvs8djU-khRDjogs=)\nto stay informed on our latest developments, exploration updates, and\ncorporate news.\n\nOn Behalf of the Board of Directors of\nLATIN METALS INC.\n“Keith Henderson”\n\nPresident & CEO\n\nFor further details on the Company, readers are referred to the Company's\nwebsite (www.latin-metals.com) and its Canadian regulatory filings on SEDAR+\nat www.sedarplus.com.\n\nFor further information, please contact:\nKeith Henderson\nSuite 1920, 1188 West Georgia Street,\nVancouver, BC, V6E 4A2\n\nElyssia Patterson, VP Investor Relations\nEmail: elyssia@latin-metals.com\nPhone: 778-683-4324\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 news release.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable Canadian and U.S. securities legislation, including the United\nStates Private Securities Litigation Reform Act of 1995. All statements, other\nthan statements of historical fact, included herein including, without\nlimitation, statements regarding the negotiation of the Option Agreements and\nexercise of the Option for the Properties, the anticipated content,\ncommencement, timing and cost of exploration programs in respect of the\nProperties and otherwise, anticipated exploration program results from\nexploration activities, and the Company's expectation that it will be able to\nenter into agreements to acquire interests in additional mineral properties,\nthe discovery and delineation of mineral deposits/resources/reserves on the\nProperties, and the anticipated business plans and timing of future activities\nof the Company, are forward-looking statements. Although the Company believes\nthat such statements are reasonable, it can give no assurance that such\nexpectations will prove to be correct. Often, but not always, forward looking\ninformation can be identified by words such as \"pro forma\", \"plans\",\n\"expects\", \"may\", \"should\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\",\n\"intends\", \"anticipates\", \"believes\", \"potential\" or variations of such words\nincluding negative variations thereof, and phrases that refer to certain\nactions, events or results that may, could, would, might or will occur or be\ntaken or achieved. In making the forward-looking statements in this news\nrelease, the Company has applied several material assumptions, including\nwithout limitation, market fundamentals will result in sustained precious\nmetals demand and prices, the receipt of any necessary permits, licenses and\nregulatory approvals in connection with the future development of the\nCompany’s Argentine projects in a timely manner, the availability of\nfinancing on suitable terms for the development, construction and continued\noperation of the Company projects, and the Company’s ability to comply with\nenvironmental, health and safety laws.\n\nForward-looking statements involve known and unknown risks, uncertainties and\nother factors which may cause the actual results, performance or achievements\nof the Company to differ materially from any future results, performance or\nachievements expressed or implied by the forward-looking information. Such\nrisks and other factors include, among others, operating and technical\ndifficulties in connection with mineral exploration and development and mine\ndevelopment activities at the Properties, including the geological mapping,\nprospecting and sampling programs being proposed for the Properties (the\n\"Programs\"), actual results of exploration activities, including the Programs,\nestimation or realization of mineral reserves and mineral resources, the\ntiming and amount of estimated future production, costs of production, capital\nexpenditures, the costs and timing of the development of new deposits, the\navailability of a sufficient supply of water and other materials, requirements\nfor additional capital, future prices of precious metals and copper, changes\nin general economic conditions, changes in the financial markets and in the\ndemand and market price for commodities, possible variations in ore grade or\nrecovery rates, possible failures of plants, equipment or processes to operate\nas anticipated, accidents, labour disputes and other risks of the mining\nindustry, delays or the inability of the Company to obtain any necessary\npermits, consents or authorizations required, including TSX-V acceptance for\nfiling of the Option Agreements, any current or future property acquisitions,\nfinancing or other planned activities, changes in laws, regulations and\npolicies affecting mining operations, hedging practices, currency\nfluctuations, title disputes or claims limitations on insurance coverage and\nthe timing and possible outcome of pending litigation, environmental issues\nand liabilities, risks related to joint venture operations, and risks related\nto the integration of acquisitions, as well as those factors discussed under\nthe heading \"Risk Factors\" in the Company's latest Management Discussion and\nAnalysis and other filings of the Company with the Canadian Securities\nAuthorities, copies of which can be found under the Company's profile on the\nSEDAR+ website at www.sedarplus.com.\n\nReaders are cautioned not to place undue reliance on forward looking\nstatements. Except as otherwise required by law, the Company undertakes no\nobligation to update any of the forward-looking information in this news\nrelease or incorporated by reference herein.\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/c9bd5e05-d51e-480b-9acd-1b80ef834122\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/61299e4c-7663-4127-81f6-0e7512cf74c3)\nLa Flora \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c9bd5e05-d51e-480b-9acd-1b80ef834122/en)\nSurface samples are selective in nature and are not necessarily representative\nof the overall grade or mineralization of the La Flora vein system.\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX2FwPcb-20261008","title":"Latin Metals Reports Partner-Funded Phase II Drilling Underway at Cerro Bayo and Initial Drilling at La Flora","author":"Globe Newswire","ticker":"LMS","created":"2026-10-08T13:59:42.129Z","tickers":["LMS"],"exchange":"","article_body":"VANCOUVER, British Columbia, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Latin Metals\nInc. (“Latin Metals” or the “Company”) - (TSXV: LMS and OTCQB: LMSQF)\nis pleased to report that its option partner, Daura Gold Corp. (“Daura”),\nhas commenced Phase II diamond drilling at the Cerro Bayo and La Flora\ngold-silver projects in Santa Cruz Province, Argentina.\n\nThe approximately 1,600-metre, 20-hole Phase II program is planned across four\ntargets. Drilling has commenced at La Flora with approximately 900 metres in\n12 holes, representing the first-ever drilling at the project. Drilling is\nthen planned to move to Cerro Bayo for follow-up drilling at Elena and Ingrid\nand first-pass drilling at Gabriela.\n\nDaura is funding exploration under an option agreement pursuant to which it\nmay earn up to an 80% interest in the Projects.\n\nHighlights Include\n* La Flora: approximately 900 metres in 12 holes, representing the first drill\ntest of the previously undrilled La Flora vein system.\n* Historical sampling at La Flora returned up to 82.19 g/t gold and 1,239.28\ng/t silver. Sampling completed in 2026 returned 63.88 g/t gold and 175.34 g/t\nsilver, with visible gold observed.\n* Cerro Bayo: follow-up drilling is planned at Elena and Ingrid, with\nfirst-pass drilling at Gabriela.\nKeith Henderson, President and CEO of Latin Metals, commented:\n“Phase II drilling is an important next step for Cerro Bayo and La Flora.\nPhase I drilling at Cerro Bayo identified gold and silver mineralization\nacross multiple target areas, and the current program is designed to follow up\nthe Elena and Ingrid targets while also testing Gabriela for the first time.\n\n“La Flora represents a significant milestone for the program because the\nproject has never previously been drilled. Latin Metals advanced the target\nthrough surface exploration, and Daura is now testing the vein system below\nsurface for the first time. The program is fully funded by our partner under\nthe option agreement, providing Latin Metals with continued exposure to\nexploration at both projects.”\n\nPhase II Drilling\nAt La Flora, surface exploration has defined two mineralized veins within an\napproximately one-kilometre outcropping vein system. The current drill program\nwill test both veins, including the main La Flora vein, which hosts the\nhighest-grade historical samples. Paired drill holes are designed to establish\nvein geometry and test continuity of mineralization below surface.\n\nLatin Metals previously reported the 2026 La Flora sampling results on June\n29, 2026\n(https://www.globenewswire.com/Tracker?data=rym20jTgNX-POzz6MxXoJB6fJMRyoyzqi_3srMNg7prXQ5JJN4dxlisNDfENjr7rgqOO2DfdE9twYPk4ONxkHtZBE-TnbXGug6n0K2eGlbLexNF_zUFv_tr1VSKbWZUeR9OiLVb46teOfNvP2uU42543qm05IMa81XKj5J5tKfQSRLhZSllObBznicc9D2gz-VbI7xJpUMVSrunTEY82DA==),\nwhen the Company identified La Flora as a priority target for Phase II\ndrilling.\n\nSurface samples are selective in nature and are not necessarily representative\nof the overall grade or mineralization of the La Flora vein system.\n\nFollowing La Flora, drilling is planned to move to Cerro Bayo:\n* Elena: two holes totaling approximately 200 metres are planned to test the\nextent of near-surface gold mineralization identified during Phase I.\n* Ingrid: four step-out holes totaling approximately 350 metres are planned to\ntest continuity of silver-gold mineralization intersected during Phase I.\n* Gabriela: two holes totaling approximately 150 metres are planned to provide\nthe first drill test of a northwest-trending structure traced for more than\n600 metres.\nLatin Metals reported the initial Phase I drill results from Cerro Bayo on May\n21, 2026\n(https://www.globenewswire.com/Tracker?data=ANgelsFwqCYg7kpCqFWENVfghGm0JNpnKn-j_SceB8QvuJfwWKMH609GkJsPd8LiK0e6BgyJsTLGqGTkX-Pr4eKtf4xYgEIly4lcFCzKJQphWIyKMiV-GfyK8JiCj_lShuf4A7h_U5jnmtrNbhpl6LeInmrenP84a98qbqQvd-PdX7xPiuxTiWEUR5WK8a2Ldtqqq2oJtbC5EIf8uXsLuw==),\nincluding multiple zones of gold and silver mineralization and high-grade\nintervals at Elena and Ingrid.\n\n\n\nCerro Bayo and La Flora are located within the Deseado Massif. At Cerro Bayo,\nexploration has outlined an approximately 8 km-wide structural corridor\nhosting multiple low-sulphidation epithermal vein targets, while La Flora\ncomprises an approximately one-kilometre vein system that had not previously\nbeen drill tested.\n\nAgreement with Daura\nUnder the terms of the option agreement, Daura may earn an initial 75%\ninterest in the Cerro Bayo and La Flora projects, with a right to increase its\ninterest to 80%, by completing staged cash payments and exploration\ncommitments.\n\nTo earn its initial interest, Daura is required to make aggregate payments of\nUS$1.7 million to Latin Metals, assume US$400,000 in payments to the\nunderlying vendor, complete 28,000 metres of drilling, and prepare and deliver\nan NI 43-101 technical report containing a mineral resource estimate.\n\nTo date, Daura has paid US$300,000 to Latin Metals, US$250,000 to the\nunderlying vendor, and completed approximately 1,850 metres of Phase I\ndrilling, with Phase II drilling now underway.\n\nQualified Person\nEduardo Leon, QP, is the Company's qualified person as defined by NI 43-101\nand has reviewed the scientific and technical information that forms the basis\nfor portions of this news release. He has approved the scientific and\ntechnical disclosure herein. Mr. Leon is not independent of the Company, as he\nis an employee of the Company and holds securities of the Company.\n\nAbout Latin Metals\nLatin Metals Inc. is a copper, gold and silver exploration company operating\nin Peru and Argentina under a prospect generator model, minimizing risk and\ndilution while maximizing discovery potential. The company secures option\nagreements with partners to fund exploration. This approach provides\nearly-stage exposure to high-value mineral assets. Latin Metals is actively\nseeking new strategic partners to advance its portfolio.\n\nUpcoming Events\nLatin Metals is pleased to announce its participation in several industry\nconferences, providing a platform to connect with investors, industry leaders,\nand potential partners:\n* New Orleans Investment Conference – New Orleans, Louisiana, USA, October\n28-31, 2026\n* 121 London – London, UK, November 23-24, 2026\nThese events offer valuable opportunities to share Latin Metals' exploration\nprogress in Argentina and Peru, highlight the advantages of its low-dilution\nprospect generator model, and explore strategic investment and partnership\nopportunities across its gold, copper, and silver-focused portfolio.\n\nStay Connected\n\nFollow Latin Metals on YouTube\n(https://www.globenewswire.com/Tracker?data=WPJc8O3P9Z-NV4SzK9GfezWjaOuac63UKHqfC6KS7sVqMUPvKyovAwGRymAr8sHceempiQFPY-XxzCRyVMFEKa7gUkOhtwkIiaMrT_qlu4o=),\nX\n(https://www.globenewswire.com/Tracker?data=wMZh_HbFv0DhcjwYfLjNCFVQYiA_4FWDqMrwLDdWItKv8CUDu1Y4JZNNfXndFreYW4qhFaMNcGxDCRAebenSgw==),\nFacebook\n(https://www.globenewswire.com/Tracker?data=syW2t7jbxt82tjMVgPj3TI7nHFKBrY5dWIehi8b_erjM5znfgIjkb99yV-LzCp-4l1Cye8G7WfL3M_5bJZ_8VVuSRxQC6vl0iWJv6Ekgu_o=),\nLinkedIn\n(https://www.globenewswire.com/Tracker?data=mKeArVQK2HMQWbsWFS2ub7m8aye7mMns61um2uuNz0MzkTaNu4GCHsWHxJJDM8fxHAD6Iy7Y8KvGQJhMRNtEaqr1GkBT8WLLJyEU9Xpanbg=)\nand Instagram\n(https://www.globenewswire.com/Tracker?data=8pBTWzofPgFHUuFY1JyN5ieQFR64rOF5keFBY4cjPJ72LS38CnsK80OGDp7p0ofksXgHeZX4ZFKfUR45xeScBTsmt_zSvs8djU-khRDjogs=)\nto stay informed on our latest developments, exploration updates, and\ncorporate news.\n\nOn Behalf of the Board of Directors of\nLATIN METALS INC.\n“Keith Henderson”\n\nPresident & CEO\n\nFor further details on the Company, readers are referred to the Company's\nwebsite (www.latin-metals.com) and its Canadian regulatory filings on SEDAR+\nat www.sedarplus.com.\n\nFor further information, please contact:\nKeith Henderson\nSuite 1920, 1188 West Georgia Street,\nVancouver, BC, V6E 4A2\n\nElyssia Patterson, VP Investor Relations\nEmail: elyssia@latin-metals.com\nPhone: 778-683-4324\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 news release.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable Canadian and U.S. securities legislation, including the United\nStates Private Securities Litigation Reform Act of 1995. All statements, other\nthan statements of historical fact, included herein including, without\nlimitation, statements regarding the negotiation of the Option Agreements and\nexercise of the Option for the Properties, the anticipated content,\ncommencement, timing and cost of exploration programs in respect of the\nProperties and otherwise, anticipated exploration program results from\nexploration activities, and the Company's expectation that it will be able to\nenter into agreements to acquire interests in additional mineral properties,\nthe discovery and delineation of mineral deposits/resources/reserves on the\nProperties, and the anticipated business plans and timing of future activities\nof the Company, are forward-looking statements. Although the Company believes\nthat such statements are reasonable, it can give no assurance that such\nexpectations will prove to be correct. Often, but not always, forward looking\ninformation can be identified by words such as \"pro forma\", \"plans\",\n\"expects\", \"may\", \"should\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\",\n\"intends\", \"anticipates\", \"believes\", \"potential\" or variations of such words\nincluding negative variations thereof, and phrases that refer to certain\nactions, events or results that may, could, would, might or will occur or be\ntaken or achieved. In making the forward-looking statements in this news\nrelease, the Company has applied several material assumptions, including\nwithout limitation, market fundamentals will result in sustained precious\nmetals demand and prices, the receipt of any necessary permits, licenses and\nregulatory approvals in connection with the future development of the\nCompany’s Argentine projects in a timely manner, the availability of\nfinancing on suitable terms for the development, construction and continued\noperation of the Company projects, and the Company’s ability to comply with\nenvironmental, health and safety laws.\n\nForward-looking statements involve known and unknown risks, uncertainties and\nother factors which may cause the actual results, performance or achievements\nof the Company to differ materially from any future results, performance or\nachievements expressed or implied by the forward-looking information. Such\nrisks and other factors include, among others, operating and technical\ndifficulties in connection with mineral exploration and development and mine\ndevelopment activities at the Properties, including the geological mapping,\nprospecting and sampling programs being proposed for the Properties (the\n\"Programs\"), actual results of exploration activities, including the Programs,\nestimation or realization of mineral reserves and mineral resources, the\ntiming and amount of estimated future production, costs of production, capital\nexpenditures, the costs and timing of the development of new deposits, the\navailability of a sufficient supply of water and other materials, requirements\nfor additional capital, future prices of precious metals and copper, changes\nin general economic conditions, changes in the financial markets and in the\ndemand and market price for commodities, possible variations in ore grade or\nrecovery rates, possible failures of plants, equipment or processes to operate\nas anticipated, accidents, labour disputes and other risks of the mining\nindustry, delays or the inability of the Company to obtain any necessary\npermits, consents or authorizations required, including TSX-V acceptance for\nfiling of the Option Agreements, any current or future property acquisitions,\nfinancing or other planned activities, changes in laws, regulations and\npolicies affecting mining operations, hedging practices, currency\nfluctuations, title disputes or claims limitations on insurance coverage and\nthe timing and possible outcome of pending litigation, environmental issues\nand liabilities, risks related to joint venture operations, and risks related\nto the integration of acquisitions, as well as those factors discussed under\nthe heading \"Risk Factors\" in the Company's latest Management Discussion and\nAnalysis and other filings of the Company with the Canadian Securities\nAuthorities, copies of which can be found under the Company's profile on the\nSEDAR+ website at www.sedarplus.com.\n\nReaders are cautioned not to place undue reliance on forward looking\nstatements. Except as otherwise required by law, the Company undertakes no\nobligation to update any of the forward-looking information in this news\nrelease or incorporated by reference herein.\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/c9bd5e05-d51e-480b-9acd-1b80ef834122\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/61299e4c-7663-4127-81f6-0e7512cf74c3)\nLa Flora \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c9bd5e05-d51e-480b-9acd-1b80ef834122/en)\nSurface samples are selective in nature and are not necessarily representative\nof the overall grade or mineralization of the La Flora vein system.\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-08T13:59:42.16735716Z","server_sent_at_ms":1791467982167},"received_at":"2026-10-08T13:59:42.339Z","source_url":null},"analysis":{"id":"152943","press_release_id":"164530","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Surface samples are selective and not necessarily representative of vein-system grade","No new drill assay results in this release"],"eventType":"operations_update","narrative":"Latin Metals' option partner Daura Gold has commenced a ~1,600-metre, 20-hole Phase II drill program at the Cerro Bayo and La Flora gold-silver projects in Santa Cruz, Argentina.\n\nDrilling started at La Flora with ~900 metres in 12 holes — the first-ever drill test of that vein system, which has returned historical samples up to 82.19 g/t gold and 1,239.28 g/t silver.\n\nDaura is funding the work under an option to earn up to 80% of the projects, providing Latin Metals exploration exposure without dilution under its prospect-generator model.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Partner-funded first-ever drilling at high-grade La Flora — assay results to watch in coming weeks."},"keyFigures":{"customDimensions":{"la_flora_holes":12,"la_flora_metres":900,"2026_sample_gold":"63.88 g/t","2026_sample_silver":"175.34 g/t","option_earn_in_max":"80%","phase2_total_holes":20,"phase2_total_metres":1600,"elena_planned_metres":200,"ingrid_planned_metres":350,"historical_sample_gold":"82.19 g/t","option_earn_in_initial":"75%","gabriela_planned_metres":150,"phase1_metres_completed":1850,"historical_sample_silver":"1,239.28 g/t","paid_to_latin_metals_to_date_usd":"US$300,000","option_drilling_commitment_metres":28000,"option_total_payments_required_usd":"US$1.7 million","option_vendor_payments_assumed_usd":"US$400,000"}},"quotedText":"The program is fully funded by our partner under the option agreement, providing Latin Metals with continued exposure to exploration at both projects.","namedEntities":{"people":[{"name":"Keith Henderson","role":"President and CEO"},{"name":"Eduardo Leon","role":"Qualified Person"},{"name":"Elyssia Patterson","role":"VP Investor Relations"}],"products":["Cerro Bayo","La Flora","Elena","Ingrid","Gabriela"],"companies":[{"name":"Latin Metals Inc.","ticker":"LMS","relationship":"filer"},{"name":"Daura Gold Corp.","relationship":"option partner funding exploration"}],"dollarAmounts":[{"amount":"US$1.7 million","context":"aggregate option payments Daura must make to Latin Metals"},{"amount":"US$400,000","context":"vendor payments Daura must assume"},{"amount":"US$300,000","context":"paid to Latin Metals to date"},{"amount":"US$250,000","context":"paid to underlying vendor to date"}]},"materialImpact":{"score":2,"reasoning":"Routine partner-funded exploration update: Phase II drilling underway at Cerro Bayo and first-ever drilling at La Flora. Positive for the prospect-generator model (no dilution to LMS) but no new assay results."},"tickerRelevance":{"others":[{"ticker":"LMSQF","relevance":"OTCQB listing of the same issuer"}],"primary":"LMS"},"globalImportance":12,"audienceRelevance":12,"eventTypeSecondary":["partnership"],"importanceComponents":{"tickerTier":"micro-cap TSXV explorer","eventGravity":"routine exploration update, no new assays","businessModelNote":"partner-funded, low dilution"}},"event_type":"operations_update","event_type_secondary":["partnership"],"sentiment":"bullish","material_impact_score":2,"narrative":"Latin Metals' option partner Daura Gold has commenced a ~1,600-metre, 20-hole Phase II drill program at the Cerro Bayo and La Flora gold-silver projects in Santa Cruz, Argentina.\n\nDrilling started at La Flora with ~900 metres in 12 holes — the first-ever drill test of that vein system, which has returned historical samples up to 82.19 g/t gold and 1,239.28 g/t silver.\n\nDaura is funding the work under an option to earn up to 80% of the projects, providing Latin Metals exploration exposure without dilution under its prospect-generator model.","key_figures":{"customDimensions":{"la_flora_holes":12,"la_flora_metres":900,"2026_sample_gold":"63.88 g/t","2026_sample_silver":"175.34 g/t","option_earn_in_max":"80%","phase2_total_holes":20,"phase2_total_metres":1600,"elena_planned_metres":200,"ingrid_planned_metres":350,"historical_sample_gold":"82.19 g/t","option_earn_in_initial":"75%","gabriela_planned_metres":150,"phase1_metres_completed":1850,"historical_sample_silver":"1,239.28 g/t","paid_to_latin_metals_to_date_usd":"US$300,000","option_drilling_commitment_metres":28000,"option_total_payments_required_usd":"US$1.7 million","option_vendor_payments_assumed_usd":"US$400,000"}},"named_entities":{"people":[{"name":"Keith Henderson","role":"President and CEO"},{"name":"Eduardo Leon","role":"Qualified Person"},{"name":"Elyssia Patterson","role":"VP Investor Relations"}],"products":["Cerro Bayo","La Flora","Elena","Ingrid","Gabriela"],"companies":[{"name":"Latin Metals Inc.","ticker":"LMS","relationship":"filer"},{"name":"Daura Gold Corp.","relationship":"option partner funding exploration"}],"dollarAmounts":[{"amount":"US$1.7 million","context":"aggregate option payments Daura must make to Latin Metals"},{"amount":"US$400,000","context":"vendor payments Daura must assume"},{"amount":"US$300,000","context":"paid to Latin Metals to date"},{"amount":"US$250,000","context":"paid to underlying vendor to date"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-08T13:59:50.161Z","global_importance":12,"audience_relevance":12,"importance_components":{"tickerTier":"micro-cap TSXV explorer","eventGravity":"routine exploration update, no new assays","businessModelNote":"partner-funded, low dilution"}},"durationMs":7802,"modelName":"glm-5.3-flashx"}}