Slide 1: Peruvian Metals Corp. Investor Presentation May 2026
PERUVIAN ~C$32.4 M Market Cap METALS CORP. C$3.1M Revenue-Generating Precious Metals Processor & Explorer in Peru FY2025 Revenue TSXV: PER | OTC Pink: DUVNF 7 Years May 2026 | www.peruvianmetals.com Revenue History Minimal Equity Raises Since 2018 *Market cap as of May 1, 2026 (last traded at C$0.20
Slide 2: Important Disclaimer
Important Disclaimer This presentation (“Presentation”) does not constitute an offer of any securities for sale or a solicitation of an offer to purchase any securities. This Presentation, and the information contained herein, is not for release, distribution, or publication into or in the United St
Slide 3: Peruvian Metals explores and processes high-grade precious and polymetallic minerals in Peru
Peruvian Metals explores and processes high-grade precious and polymetallic minerals in Peru. The Company retains shareholder value through its ability to generate free cash flow and reinvest in attractive exploration projects throughout the country.
Slide 4: The Problem We Solve
The Problem We Solve Half a million small miners in Peru Artisanal and small-scale mining is one of Peru's largest employment sectors - affecting 2-3 million people and deeply woven into the country's economy. A new law changed everything In 2012, Peru formalized small-scale mining, allowing registe
Slide 5: How We Make Money
How We Make Money 01 Toll Milling 02 Own Ore Processing 03 Project Generation Registered artisanal miners bring their ore We are developing our own high-grade Using cash flow from operations, we to Aguila Norte. We crush, mill, and float properties through bulk sampling. When stake, sample, and deve
Slide 6: Investment Highlights (1 of 2)
Investment Highlights (1 of 2) Revenue Since 2017 - Real Business 1 Aguila Norte has processed over 200,000 tonnes since 2019. FY2025 revenue reached C$3.1M: one of a tiny handful of revenue- generating junior miners on the TSX-V. We built a mill and we run it. Exceptional Capital Discipline 2 Since
Slide 7: Investment Highlights (2 of 2)
Investment Highlights (2 of 2) Margin Expansion Underway 4 Today we earn $30-$40/t processing third-party ore. When we process our own ore from Palta Dorada, the avg. price per tonne will be higher with mining costs of ~US$200-300/t. That's the difference between a fee business and a producing miner
Slide 8: Why Now - The Metal Price Tailwind
Why Now - The Metal Price Tailwind GOLD SILVER When assets acquired Today When assets acquired Today US$2,175 → US$4,247* US$23 → US$68* +95% (as of Jun 12, +196% (as of Jun 12, 2026) 2026) "When we acquired these properties, gold was $2,175 and silver was $23. Now that gold is at historic highs and
Slide 9: Capital Structure & Why Peru
Capital Structure & Why Peru Why Peru? Capital Structure ItemItem Amount Amount 9.1% 17.8% Shares Issued 147,178,950 of world copper reserves of world silver reserves Warrants (avg @ C$0.16) 8,754,400 Options (@ C$0.06-0.18) 5,250,000 Fully Diluted ~161.2M 5.6% 500K+ of world gold reserves artisanal
Slide 10: Our Projects in Peru
Our Projects in Peru Aguila Norte Processing Plant · 80% owned · Northern Peru (Trujillo region) Palta Dorada Au-Ag-Cu · 100% owned · Ancash · 120km from Aguila Norte Mercedes Au-Ag · 50% owned · Junin Dept · Central Peru Minas Yanayco Au-Ag · 100% owned · Ancash Dept · Historical workings Minas Vis
Slide 11: Aguila Norte - The Cash Engine
Aguila Norte - The Cash Engine 36,616t 80% 100 tpd 10 yrs Processed 2025 PER Ownership Current Capacity Surface Rights (Full Capacity) (Permitted: 350 Renewed Mar tpd) 2026 Plant Highlights Only fully permitted polymetallic processing plant in Northern Peru serving artisanal miners Crushing, milling
Slide 12: Aguila Norte - Revenue Track Record
Aguila Norte - Revenue Track Record Annual Revenue (CAD) - Aguila Norte 3500000 3.097.781 3000000 2.980.937 C$3.1M 2.490.953 FY2025 Revenue 2500000 2.343.979 2.144.215 2000000 1.607.486 1500000 1.072.613 1000000 C$1.2M 500000 Plant Operating Profit FY2025 0 2019 2020* 2021 2022 2023 FY2024 FY2025 *2
Slide 13: The Path Forward - Growth Strategy
The Path Forward - Growth Strategy PILLAR 1 PILLAR 2 Expand the Plant Process Our Own Ore Aguila Norte is currently permitted to process Mercedes (Au-Ag, Junin) 350 tpd but is operating at 100 tpd. Engineering Chip samples across multiple veins returned results confirming studies are underway to exp
Slide 14: Why Peruvian Metals is Different
Why Peruvian Metals is Different Cash flow funded exploration We develop projects through bulk processing We don't need to raise money to explore. Revenue from Aguila Norte Rather than spending millions on drilling programs, we focus on funds our geological work. This is extremely rare in the junior
Slide 15: Palta Dorada - 100% Owned Au-Ag Property
Palta Dorada - 100% Owned Au-Ag Property Location Ancash Department, Northern Peru · ~2,250 Ha · 100% owned · 120 km southeast of Aguila Norte plant along a paved highway The Opportunity High-grade gold and silver veins hosted in granodiorite. Artisanal workings have proven the grade is there. We ar
Slide 16: High-Grade Sulphide Ore 9.69 g/t Au
HIGH-GRADE SULPHIDE ORE 9.69 g/t Au* Gold Grade 13.65 oz/t Ag* Silver Grade 1.00% Cu* Copper Palta Dorada Property · Northern Peru Peruvian Metals Corp. | TSXV: PER *Based on chip samples. PER: News Release - January 21, 2026
Slide 17: Mercedes - 50% Interest | Near-Term Catalyst
Mercedes - 50% Interest | Near-Term Catalyst FIRST OWN MINERAL SHIPMENT TARGETED: H2 2026 The Property Junin Department, central Peru · ~1,345 Ha · 50% interest via San Maurizo Mines Ltd. · Accessible via 40km gravel road from Concepcion · Local toll mill 12km away Community Agreement Registered wit
Slide 18: Mercedes - On the Ground
Mercedes - On the Ground 97.85% Ag* Recovery - Victor II Vein *Met. test result only. Artisanal mining crew at Victor III portal Underground workings – Upper Portal
Slide 19: Catalysts & Milestones Ahead
Catalysts & Milestones Ahead Mercedes First Shipment H2 2026 First own mineral shipment from Mercedes to local toll mill. Community agreement in place. Provisional permits allow extraction to begin. (CEO guidance, VRIC 2026) Palta Dorada Bulk Processing MID H2 2026 Send first bulk material from Palt
Slide 20: Peer Comparison - Deeply Undervalued
Peer Comparison - Deeply Undervalued
Slide 21: Management & Board of Directors
Management & Board of Directors MANAGEMENT BOARD OF DIRECTORS Jeffrey J. Reeder, P.Geo. Daniel Hamilton, CPA, CA CEO, President & Chairman Director 30+ years in Peru. Identified Aguila Copper-Moly (Industrias Peñoles) and Pinaya Cu-Au. 30+ years senior financial experience. Former CFO of multiple TS
Slide 22: How to Invest
HOW TO INVEST PERUVIAN METALS CORP. TSXV: PER | OTC Pink: DUVNF Available through any Canadian brokerage or online discount broker under TSXV: PER US investors may purchase on OTC Pink markets under symbol: DUVNF Jeffrey Reeder, CEO: jeffrey.reeder@peruvianmetals.com | +1 (647) 302-3290 Andrew Volk,