• Q3-2025 copper production of 14.6 million pounds
• 2025 copper production estimated to be 2% to 5% below guidance. Cash cost¹ guidance remains in place
• Positioned to eliminate remaining debt in Q4-2025
• $3.5 million returned through Dividends in Q3-2025

Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF) is pleased to announce operational results for the quarter ended September 30, 2025 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.

Operational results during Q3-2025 were impacted by lower fresh tailings throughput following an accident at the El Teniente mine, as reported in the Company’s news releases of August 6 and August 13, 2025. MVC did not receive fresh tailings for ten days in August while El Teniente’s mine operations were fully suspended. El Teniente’s operations continue to ramp up under the Safe and Progressive Restart of Operations Plan, but fresh tailings throughput has not yet returned to pre-accident levels. Despite this dynamic situation, MVC’s daily production has remained stable since the last week of August.

“Utilizing the tremendous flexibility of MVC’s processing plant, our team has done an exceptional job increasing the processing of historic tailings and adjusting plant performance to minimize the continued impact from lower fresh tailings throughput. MVC’s production results were heavily impacted in August, but MVC’s September output was closely aligned with its original monthly production budget,” said Aurora Davidson, Amerigo’s President and CEO.

“Notwithstanding MVC’s agile response, the August production shortfall will likely prevent Amerigo from meeting its original annual production guidance of 62.9 million pounds of copper. We currently expect to produce between 60 and 61.5 million pounds of copper in 2025, which is 2% to 5% lower than our original guidance.   Amerigo’s molybdenum production and cash cost¹ guidance remain in place,” she added.

In Q3-2025, MVC produced 14.6 million pounds of copper and 0.35 M lbs of molybdenum. During the quarter, MVC’s plant availability was 98.3%, and there were no lost-time accidents involving MVC employees.

Copper production during the nine months ended September 30, 2025 (“YTD-2025”) was 43.3 M lbs, representing 69% of Amerigo’s annual copper production guidance of 62.9 M lbs. YTD-2025 molybdenum production of 0.97 M lbs represents 75% of Amerigo’s original annual molybdenum production guidance of 1.3 M lbs.

Amerigo’s cash cost¹ in Q3-2025 was $1.80 per pound, and YTD-2025 cash cost¹ was $1.93/lb. Based on the operational and cost projections for the remainder of 2025, Amerigo’s annual cash cost guidance of $1.93/lb (excluding MVC’s collective agreement signing bonuses) remains valid.

Average London Metal Exchange copper prices retracted 1% and 2% in July and August 2025, respectively, compared to the June 2025 average price of $4.46/lb. The average price in September increased to $4.51/lb, and as of this news release, the average price to date in October has increased further to $4.70/lb. Amerigo remains well-positioned to eliminate its debt by year-end 2025, while continuing to fully deploy its Capital Return Strategy.

Amerigo’s average provisional copper price in Q3-2025 was $4.54/lb, compared to $4.42/lb in Q2-2025. Q2-2025 copper deliveries were marked to market on June 30, 2025, at $4.42/lb and settled at the LME average monthly prices for July 2025 ($4.44/lb), August 2025 ($4.38/lb), and September 2025 ($4.51/lb).

The Company’s average molybdenum price was $24.11/lb, up from $20.44/lb in Q2-2025.

In Q3-2025, Amerigo returned $3.5 million to shareholders through its quarterly dividend. YTD-2025 capital returned to shareholders totals $15.6 million ($10.5 million in quarterly dividends and $5.1 million in share buybacks).

On September 30, 2025, Amerigo’s cash position was $28.0 million ($7.9 million lower than December 31, 2024), and restricted cash was $3.1 million ($1.3 million lower than December 31, 2024). Outstanding bank debt was $7.5 million ($4.0 million lower than December 31, 2024).

Capital Return Strategy

Since implementing its CRS in October 2021, Amerigo has returned $93.7 million to shareholders, $63.0 million through quarterly and performance dividends and $30.7 million through share buybacks, reducing by 14% the number of common shares outstanding at the inception of the CRS.

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 quickly transfer the benefits of rising copper prices to Amerigo’s shareholders.

Release of Q3-2025 financial results on October 29, 2025

Amerigo will release its Q3-2025 financial results at the market open on Wednesday, October 29, 2025.

Interactive Analyst Center

Amerigo’s public 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 under Investors > Interactive Analyst Center.

About Amerigo and MVC

Amerigo 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.