Toronto, Ontario--(Newsfile Corp. - July 9, 2026) - Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) ("Mogotes" or the "Company") is pleased to provide an update on drilling results from its flagship Filo Sur project, located immediately south of, and along strike from, the Filo del Sol copper-gold-silver discovery being advanced by BHP and Lundin Mining.¹
While the Company awaits the final assay results from holes FS_DDH_013 and FS_DDH_015 in Chile (see Figure 1), today's update confirms and expands the discovery at the Albor target, first made with hole FS_DDH_016.
Figure 1: Albor and Filo Sur Drill Hole Locations – and Pending Luz del Sol Drill Holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10597/304441_48701c6d74a52ba5_002full.jpg
Highlights of FS_DDH_016:
180.0 m @ 0.98% CuEq from 108.0 m (0.51% Cu, 0.37 g/t Au, 2.8 g/t Ag, 119 ppm Mo)
including:-
58.0 m @ 1.77% CuEq from 111.0 m (0.90% Cu, 0.70 g/t Au, 3.6 g/t Ag, 228 ppm Mo)
-
7.0 m @ 1.01% CuEq from 188.0 m (0.54% Cu, 0.38 g/t Au, 1.8 g/t Ag, 118 ppm Mo)
-
7.0 m @ 1.29% CuEq from 236.0 m (0.91% Cu, 0.16 g/t Au, 11.9 g/t Ag, 143 ppm Mo)
-
9.0 m @ 2.84% CuEq from 276.0 m (1.32% Cu, 1.34 g/t Au, 7.5 g/t Ag, 105 ppm Mo)
-
Shallow Copper and Gold Mineralization starts at 108 m depth
Part of a Larger Undrilled Surface Geochemical Anomaly
Surface channel samples collected by Mogotes immediately above and along strike of the drill intercepts returned anomalous copper and molybdenum values (Figure 2). Together with a molybdenum-in-soil anomaly measuring ~400 by 800 m, these results support the interpretation that the mineralized hydrothermal system has significant extent, including possible continuation beneath a thin veneer of scree cover. The limits of the mineralization intersected in FS_DDH_016 have not yet been defined by drilling and remain untested to the northwest and southeast along the strike of the Macho Muerto Fault Zone, and at depth.
Figure 2: Plan View of Drillhole FS_DDH_016 and Albor Target Zones
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10597/304441_48701c6d74a52ba5_003full.jpg
Multiple Overlapping Hydrothermal Events
Mogotes is encouraged by the multiple overlapping hydrothermal events observed in FS_DDH_016, including early potassic-altered quartz diorite porphyry intrusions, early-stage quartz stockwork veining consisting of "A" and "B" family veinlets with chalcopyrite, chalcopyrite-bearing magmatic-hydrothermal breccias altered to anhydrite and biotite, later copper-bearing vein generations, and subsequent fine-grained, epithermal overgrowths of dark copper-bearing sulfide minerals including probable covellite, digenite, bornite and enargite.