• Q2-2025 Net Income of $7.5 million
• Robust EBITDA¹ of $17.8 million and Free Cash Flow to Equity¹ of $6.5 million
• 16^th Consecutive Quarterly Dividend of Cdn$0.03 Declared
• $7.6 million Returned through Dividends and Share Buybacks in Q2-2025

Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF) is pleased to announce a strong financial performance for the three months ended June 30, 2025. Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

Amerigo’s Q2-2025 financial results included net income of $7.5 million, earnings per share of $0.05, EBITDA¹ of $17.8 million, operating cash flow from operations before changes in non-cash working capital¹ of $11.9 million and free cash flow to equity¹ of $6.5 million. In Q2-2025, Amerigo returned $3.5 million to shareholders through its quarterly dividend of Cdn$0.03 per share and $4.0 million from the purchase and cancellation of 3.1 million common shares through a Normal Course Issuer Bid.

“We are pleased to report strong financial results for the second quarter of 2025. Our operation, Minera Valle Central, once again met its production, cash cost¹ and safety targets. Building upon those achievements, Amerigo is on track to meet annual guidance and be debt-free by year-end,” said Aurora Davidson, Amerigo’s President and CEO.

“On the back of MVC’s stellar operational performance and rising copper prices, Amerigo continues to rapidly return capital to shareholders under the Company’s well-established Capital Return Strategy. In Q2-2025 alone, Amerigo bought and cancelled 3.1 million shares under its Normal Course Issuer Bid and paid its fifteenth consecutive quarterly dividend. In the first half of the year, the Company’s free cash flow to equity¹ was $11.3 million, and $12.1 million was returned to shareholders,” she added.

“We continue to expect strong, long-term copper demand around the world. Supportive fundamentals remain in place, despite trade tensions and the tariff-induced short-term logistical repositioning of significant copper cathode stocks to the United States. This repositioning has created a historical price arbitrage between the Comex and LME markets, which we believe will be resolved over time, albeit with continued upward pressure on copper prices.

¹ This is a non-IFRS measure. See “Non-IFRS Measures” for further information.

In this macro setting, we believe that Amerigo’s unique business model, which produces copper without a mine and avoids traditional mining and exploration risks, will continue to shine. With minimal debt and a significant, consistent return of capital to shareholders, Amerigo provides a clean and unencumbered exposure to the rising copper prices that we expect will continue,” Ms. Davidson added.

On July 28, 2025, Amerigo’s Board of Directors declared its sixteenth consecutive quarterly dividend. The dividend will be in the amount of Cdn$0.03 per share, payable on September 19, 2025, to shareholders of record as of August 29, 2025³. Amerigo designates the entire amount of this taxable dividend to be an “eligible dividend” for purposes of the Income Tax Act (Canada), as amended from time to time.

Based on Amerigo’s June 30, 2025, share closing price of Cdn$2.17, the Cdn$0.03 quarterly dividend declared on July 28, 2025, represents an annual dividend yield of 5.53%.

This news release should be read with Amerigo’s interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) for Q2-2025, available on the Company’s website at www.amerigoresources.com and on the SEDAR+ website at www.sedarplus.ca.

Highlights and Significant Items

• In Q2-2025, Amerigo’s posted net income of $7.5 million (Q2-2024: $9.8 million), driven by copper production from MVC of 15.5 million pounds (“M lbs”) (Q2-2024: 14.0 M lbs) at an average MVC copper price of $4.42 per pound (“/lb”) (Q2-2024: $4.39/lb). In Q2-2024, net income was higher as a result of $6.9 million in positive fair value adjustments to copper revenue receivables from a sharp quarter-on-quarter copper price appreciation (Q2-2025: $0.7 million).
• EPS in Q2-2025 was $0.05 (Cdn$0.06), compared to $0.06 (Cdn$0.08) in Q2-2024.
• The Company generated operating cash flow before changes in non-cash working capital¹ of $11.9 million in Q2-2025, compared to $14.3 million in Q2-2024. The Company’s quarterly net operating cash flow was $6.3 million (Q2-2024: $23.8 million) after changes in working capital in the period, most notably a $9.5 million reduction in current income tax liabilities associated with MVC’s final 2024 income tax payment and reductions of $2.1 million in trade and other receivables.
• Free cash flow to equity¹ was $6.5 million in Q2-2025 (Q2-2024: $6.7 million), after debt repayments of $4.0 million (Q2-2024: $4.2 million) and capital expenditures (“Capex”) payments of $1.4 million (Q2-2024: $3.4 million).
• In Q2-2025, Amerigo returned $7.6 million to shareholders (Q2-2024: $3.6 million). This included $3.5 million returned to shareholders through Amerigo’s regular quarterly dividend of Cdn$0.03 per share (Q2-2024: $3.6 million or Cdn$0.03 per share) and $4.0 million from the purchase and cancellation of 3.1 million common shares through a NCIB (Q2-2024: $nil).
• Q2-2025 cash cost¹ was $1.82/lb (Q2-2024: $1.96/lb). The $0.14/lb reduction in cash cost was primarily due to a $0.19/lb decrease in smelting and refining charges, in response to the current annual benchmark, offset by a $0.03/lb increase in lime cost and a $0.03/lb increase in other direct costs.
• On June 30, 2025, the Company held cash and cash equivalents of $23.3 million (December 31, 2024: $35.9 million), restricted cash of $0.9 million (December 31, 2024: $4.4 million), and its working capital deficiency was $5.4 million, down from a working capital deficiency of $6.5 million on December 31, 2024.
• The Company’s financial performance is sensitive to changes in copper prices. MVC’s Q2-2025 provisional copper price was $4.42/lb. The final prices for April, May, and June 2025 sales will be based on the average London Metal Exchange (“LME”) prices for July, August, and September 2025, respectively. A 10% increase or decrease from the $4.42/lb provisional price used on June 30, 2025, would result in a $6.9 million change in revenue in Q3-2025 regarding Q2-2025 production⁴.

Interactive Analyst Center

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

About Amerigo and Minera Valle Central

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile (“Codelco”), 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.