Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF) reports financial results for the quarter ended September 30, 2026 and announces the declaration of its quarterly dividend. Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.

• Q3-2026 Net Income of $22.7 million, EBITDA¹ of $48.0 million and Free Cash Flow¹ of $28.1 million

• Quarterly Dividend of Cdn$0.04 per share Declared

• 17.0 Million Pounds of Copper Produced at a Cash Cost¹ of $1.55/lb

• $93.9 million returned to shareholders YTD under Amerigo’s Capital Return Strategy 

In Q3-2026, Amerigo generated net income of $22.7 million, EBITDA¹ of $48.0 million, operating cash flow from operations before changes in non-cash working capital¹ of $30.5 million, and free cash flow¹ of $28.1 million.

“Q3-2026 was another strong quarter for Amerigo. MVC produced 17.0 million pounds of copper, with 98.1% plant availability and a cash cost¹ of $1.55 per pound. Combined with record copper prices and supportive molybdenum prices, this operating performance generated net income of $22.7 million, EBITDA¹ of $48.0 million and free cash flow¹ of $28.1 million,” said Aurora Davidson, Amerigo’s President and CEO.

“These results again demonstrate the strength of Amerigo’s business model. Our consistently excellent operating performance is efficiently converted into free cash flow¹ because of our limited sustaining capital requirements. Then, the disciplined application of Amerigo’s CRS maintains financial strength and business flexibility. With that achieved, excess cash is quickly returned to shareholders rather than allowing it to accumulate unnecessarily on the balance sheet.”

“The CRS is working as intended. Amerigo returned $69.5 million to shareholders in the first nine months of 2026. Through October 14, 2026, annual shareholder returns total $93.9 million, including the latest and largest performance dividend to date of Cdn$0.21 per share, paid on October 14, 2026. The quarterly dividend component of the CRS provides a consistent base return to shareholders, while performance dividends and share buybacks allow Amerigo to quickly and flexibly return additional capital when it is earned. As part of a Total Yield analysis, investors should consider all three CRS components when evaluating the shareholder returns generated by Amerigo.”

On October 26, 2026, the Board declared a quarterly dividend of Cdn$0.04 per share, payable on December 18, 2026, to shareholders of record as of November 30, 2026. Amerigo designates the full amount of this taxable dividend as an “eligible dividend” for purposes of the Income Tax Act (Canada), as amended from time to time.

On September 14, 2026, Amerigo’s Board of Directors declared a performance dividend of Cdn$0.21 per share, the largest in the Company’s history, bringing performance dividends declared year-to-date to Cdn$0.55 per share. The Company paid this performance dividend on October 14, 2026.

The performance dividend paid on October 14, 2026, and the quarterly dividend payable on December 18, 2026, together represent approximately $29.0 million, or 58% of Q3-2026 ending cash.

Based on Amerigo’s September 30, 2026 share price of Cdn$8.74, the quarterly dividend represents a stated yield of 1.83%. Including performance dividends declared year-to-date, shareholders have received a total yield of 8.12%, demonstrating the significant contribution of performance dividends to Amerigo’s CRS.

This news release should be read with Amerigo’s interim consolidated financial statements and Management’s Discussion and Analysis for Q3-2026, available on the Company’s website at www.amerigoresources.com and on the SEDAR+ website at www.sedarplus.ca.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/685/321335_t1.jpg

Highlights and Significant Items

• The Company achieved strong production in Q3-2026, producing 17.0 million pounds of copper (Q3-2025: 14.6M lbs), supported by excellent operational execution, 98.1% plant availability, and a clean workplace safety record. This was further supported by the highest quarterly average LME copper price on record, with MVC recognizing an average copper price of $6.55 per pound in Q3-2026, up from $4.54/lb in Q3-2025.

• Q3-2026 net income was $22.7 million, compared with $6.7 million in Q3-2025. The increase primarily reflected higher copper tolling revenue, positive copper settlement adjustments and increased molybdenum revenue, partially offset by higher DET notional copper royalties, tolling and production costs and income tax expense.

• Basic earnings per share in Q3-2026 was $0.14 (Cdn$0.20), compared with $0.04 (Cdn$0.06) in Q3-2025.

• The Company generated operating cash flow before changes in non-cash working capital¹ of $30.5 million in Q3-2026, compared with $12.4 million in Q3-2025. Free cash flow¹ was $28.1 million in Q3-2026 (Q3-2025: $11.1 million).

• Q3-2026 cash cost¹ was $1.55/lb (Q3-2025: $1.80/lb). The $0.25/lb decrease in cash cost was primarily due to a $0.12/lb increase in molybdenum by-product credits, driven by a 34% increase in molybdenum prices, and a $0.07/lb decrease in lime costs from reduced lime consumption associated with less historic tailings processing.

• In Q3-2026, Amerigo paid $27.8 million to shareholders, comprising $20.4 million in performance dividends, $4.5 million in quarterly dividends, and $2.9 million in share buybacks. For the nine months ended September 30, 2026, total payments to shareholders amounted to $69.5 million, including $45.0 million in performance dividends, $14.0 million in quarterly dividends, and $10.5 million in share buybacks.

• On September 30, 2026, the Company held cash and cash equivalents of $50.1 million, compared with $40.3 million on December 31, 2025. The Company had a working capital deficiency (current assets less current liabilities) of $18.6 million on September 30, 2026, compared with working capital of $10.9 million on December 31, 2025. The September 30, 2026, working capital deficiency primarily reflected dividends declared and payable after quarter-end and does not indicate a change in the Company’s approach to maintaining balance sheet strength and financial flexibility.

• On September 30, 2026, MVC used a provisional copper price of $6.55/lb. The final prices for July, August, and September 2026 sales will be the average LME prices for October, November, and December 2026, respectively. A 10% change from the $6.55/lb provisional price used on September 30, 2026, would result in an $11.2 million change in Q4-2026 revenue relative to Q3-2026 production.

Investor Conference Call on October 29, 2026

Amerigo’s quarterly investor conference will be held on Thursday, October 29, 2026, at 11:00 a.m. Pacific Daylight Time/2:00 p.m. Eastern Daylight Time.

Participants can join by visiting https://registrations.events/easyconnect/5696440/recFVdSs0p8ycfTtM/ and entering their name and phone number. The conference system will then call the participants and place them on the call instantly.

Alternatively, participants may dial 1-800-715-9871 and ask the operator to join the Amerigo Resources Q3-2026 Investor Conference Call.

Interactive Analyst Center

Amerigo’s published financial and operational information is available for download in Excel format through Q4 Inc.’s Interactive Analyst Center. You can access the IAC by visiting www.amerigoresources.com, then selecting Investors > Interactive Analyst Center.

About Amerigo and MVC

Amerigo Resources Ltd. produces copper concentrate and molybdenum concentrate at its MVC operation in Chile through a long-term relationship with Corporación Nacional del Cobre de Chile.

Tel: (604) 681-2802; Web: www.amerigoresources.com; (TSX: ARG); (OTCQX: ARREF).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/685/321335_t2.jpg