Fredonia Mining Expands Growth Potential at El Dorado-Monserrat with 70.75 Metres of 1.29 G/T Au Eq at Herradura Hill

About this update from Fredonia Mining, Inc.

First assays from the 10,000-metre drill program confirm broad mineralization at Herradura Hill, strengthening EDM's second growth opportunity ahead of the Preliminary Economic Assessment TORONTO, July 14, 2026 (GLOBE NEWSWIRE) -- Fredonia Mining Inc. ("Fredonia" or the "Company") (TSXV: FRED, OTC: FREDF) is pleased to report the first assay results from its ongoing 10,000-metre diamond drill program at the El Dorado-Monserrat ("EDM") Project in Santa Cruz Province, Argentina. The results from drill hole HDDH051 at Herradura Hill continue to demonstrate the significant growth potential of the Company's South Deposit, confirming existing resources and expanding zones of gold and silver mineralization that reinforce a second pathway for resource expansion alongside the larger and more advanced EDM North Deposit. Approximately 4,000 metres of the planned 10,000-metre program have been completed, and a substantial number of drill core samples are currently awaiting laboratory analysis results. Highlights Reported interval length are down hole widths and not true widths. Au Eq is calculated using metal prices of US$ 4000 /oz for Au and US$ 60/oz for Ag. The equation used is: Au Eq (g/t) = Au (g/t) + [Ag (g/t) × (US$60/oz Ag ÷ US$4,000/oz Au)]. Au Eq assumes Au recovery of 90%. The limited metallurgical studies by Fredonia (selective bottle rolls from Main Veins material) have indicated high (>90%) recovery of gold in oxide material. The Cerro Vanguardia mine to the east of EDM with similar mineralization reports recoveries in the high 90% for Au. "The North Deposit remains the foundation of EDM and continues to provide tremendous value," said Estanislao Auriemma, Chief Executive Officer of Fredonia. "What makes these results particularly exciting is that they demonstrate the South Deposit has the potential to become another meaningful contributor to the project. Herradura Hill has seen only a fraction of the drilling completed at the North, yet HDDH051 intersected broad zones of strong gold and silver mineralization that reinforce our confidence in the opportunity ahead."

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