• Q2-2026 copper production of 16.9 million pounds; H1-2026 production represents 49% of annual guidance
• H1-2026 normalized cash cost¹ of $1.70/lb tracking significantly below annual guidance of $1.98/lb
• $41.7 million returned to shareholders year-to-date under Amerigo’s Capital Return Strategy

Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF) is pleased to announce operational results for the quarter ended June 30, 2026 from Minera Valle Central, the Company’s 100%-owned operation located near Rancagua, Chile. Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

“MVC delivered another strong quarter, producing 16.9 million pounds of copper with 99% plant availability. First-half production and normalized cash costs¹ are tracking ahead of guidance, reflecting excellent operational execution and strong molybdenum by-product credits. These results position us for strong full-year 2026 performance,” said Aurora Davidson, Amerigo’s President and CEO.

“Our business continues to demonstrate the advantages of Amerigo’s model: stable production, low sustaining capital requirements and strong cash generation. Those characteristics and a debt-free balance sheet allow us to return significant excess cash to shareholders while maintaining financial strength and flexibility. The record Cdn$0.18 performance dividend declared on July 6, 2026, is an excellent example of the direct outcome of that approach,” Ms. Davidson added.

In Q2-2026, MVC produced 16.9 million pounds (“M lbs”) of copper and 0.4 M lbs of molybdenum. This was achieved by excellent operational execution, 99.0% plant availability and a clean workplace safety record.

Copper production for the first half of 2026 was 31.2 M lbs, outpacing the Company’s internal first-half production target. Production achieved in H1-2026 represents 49% of Amerigo’s 2026 copper production guidance of 63.8 M lbs. H1-2026 molybdenum production of 0.7 M lbs is also in line with Amerigo’s annual production guidance of 1.5 M lbs. Amerigo performed its annual maintenance shutdown in Q1-2026, and the associated production impact is reflected in the H1-2026 production results and the annual guidance.

In Q2-2026, cash cost¹ was $1.74 per pound, and normalized cash cost¹ was $1.60/lb. Normalized cash cost¹ excludes the signing bonus associated with a 3-year collective labour agreement with MVC’s supervisors’ union, paid in Q2-2026. The collective agreement with the supervisors will cover the term from January 8, 2027 to January 8, 2030.

H1-2026 cash cost¹ was $1.78/lb and normalized cash cost¹ was $1.70/lb, compared to Amerigo’s normalized cash cost¹ guidance of $1.98/lb. Outperformance over guidance was positively influenced by strong molybdenum by-product credits, which benefited from rising molybdenum prices in Q2-2026.

The Company’s average molybdenum price in Q2-2026 was $29.15/lb, up from $25.58/lb in Q1-2026.

Provisional Pricing for Q2-2026 Copper Deliveries

Amerigo’s copper deliveries are priced for sale on an “M+3”, or three-month, basis. This contractual arrangement creates three pricing steps:

First, monthly deliveries are priced on a provisional basis using the average LME copper price for that month. These monthly deliveries are then marked-to-market on a provisional basis at the end of each reporting period. Ultimately, each monthly delivery is settled at a final price based on the LME average copper price for the third month following delivery.

Final Pricing in Q2-2026 for Q1-2026 Copper Deliveries

During Q2-2026, all final price settlements for MVC’s Q1-2026 copper deliveries were positive (final prices exceeded provisional prices). Q1-2026 copper deliveries were marked-to-market on March 31, 2026, at an average price of $5.70/lb and were settled at the LME average monthly copper prices for April, May, and June 2026.

Capital Return Strategy

Amerigo’s low sustaining capital requirements allow a significant portion of operating cash flow to be directed to shareholder returns while preserving balance sheet strength.

In Q2-2026, Amerigo paid $25.2 million to shareholders, including $18.7 million in performance dividends, $4.8 million in quarterly dividends and $1.7 million through share buybacks. H1-2026 payments to shareholders were $41.7 million, including $24.6 million in performance dividends, $9.5 million in quarterly dividends, and $7.6 million in share buybacks.

Amerigo had 295,451 fewer shares outstanding on June 30, 2026 than on December 31, 2025, reflecting the continued use of share buybacks alongside dividends to enhance per-share value.

As of June 30, 2026, Amerigo’s cash position was $50.3 million. On July 6, 2026, Amerigo declared a performance dividend of Cdn$0.18 per share, representing approximately $20.5 million, payable on August 6, 2026, to shareholders of record as of July 13, 2026.

Since implementing its CRS in October 2021, Amerigo has returned $140.2 million to shareholders through dividends and share buybacks while reducing shares outstanding by 15.1% and maintaining a strong financial position.

Amerigo’s CRS consists of three mechanisms: quarterly dividends, performance dividends, and share buybacks. These mechanisms provide shareholders with a consistent return on invested capital and enable the rapid transfer of the benefits of rising copper prices to Amerigo’s shareholders.

The performance dividend declared on July 6, 2026, is the largest in the Company’s history and brings total performance dividends declared year-to-date to Cdn$0.34 per share. The declaration reflects both the strength of Amerigo’s operating performance and the Board’s continued commitment to distributing excess cash under the CRS framework.

Release of Q2-2026 financial results on July 29, 2026

Amerigo will release its Q2-2026 financial results at the market open on Wednesday, July 29, 2026.

Interactive Analyst Center

Amerigo’s published financial and operational information is available for download in Excel format through Virtua’s Interactive Analyst Center (“IAC”). You can access the IAC by visiting www.amerigoresources.com and selecting Investors > Interactive Analyst Center.

About Amerigo and MVC

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile, the world’s largest copper producer.

Amerigo produces copper concentrate, and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world’s largest underground copper mine.