Amerigo Resources Ltd. (TSX: ARG) (OTCQX: ARREF) reports operational results for the quarter ended September 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.

• YTD-2026 copper production of 48.2 million pounds, representing 76% of annual guidance

• YTD-2026 normalized cash cost¹ of $1.65/lb, 17% below annual guidance

• $69.5 million returned to shareholders year-to-date under Amerigo’s Capital Return Strategy

“MVC delivered another solid quarter, producing 17.0 million pounds of copper at a cash cost¹ of $1.55 per pound. Heavy rain reduced the number of days available to process historic tailings, but year-to-date production remained ahead of our internal target. The quarter also demonstrated the value of MVC’s prior investments in plant redundancy and process optimisation. With a year-to-date normalized cash cost¹ of $1.65 per pound, operating performance remains well ahead of our 2026 cost guidance,” said Aurora Davidson, Amerigo’s President and CEO.

“Amerigo’s operating performance and low sustaining capital requirements continue to convert strong copper markets into shareholder returns. Year-to-date, we have returned $69.5 million through dividends and share buybacks while maintaining a debt-free balance sheet. That combination of cash generation, capital discipline and per-share returns is the basis of Amerigo’s Total Yield model,” Ms. Davidson added.

In Q3-2026, MVC produced 17.0 million pounds of copper and 0.4 M lbs of molybdenum. MVC delivered strong operational execution, with 98.1% plant availability and no reportable safety incidents during the quarter.

Copper production for the nine months ended September 30, 2026 was 48.2 M lbs, ahead of the Company’s internal target for the period and representing 76% of the annual guidance of 63.8 M lbs. YTD-2026 molybdenum production of 1.15 M lbs is ahead of Amerigo’s annual guidance of 1.5 M lbs. Amerigo performed its annual maintenance shutdown in Q1-2026, and the associated production impact is reflected in both the YTD-2026 results and the annual guidance.

In Q3-2026, cash cost¹ was $1.55 per pound. YTD-2026 cash cost¹ was $1.70/lb, and normalized cash cost¹was $1.65/lb, compared with the Company’s normalized cash cost¹ guidance of $1.98/lb. Normalized cash cost¹excludes the signing bonus associated with a 3-year collective labour agreement with MVC’s supervisors’ union, paid in May 2026. The collective agreement with MVC’s supervisors covers the term from January 8, 2027, to January 8, 2030. Cash cost¹ outperformance relative to guidance was supported by higher molybdenum by-product credits, driven by strong YTD-2026 molybdenum prices, and by higher copper production.

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

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The Company’s average molybdenum price in Q3-2026 was $32.38/lb, up from $29.15/lb in Q2-2026.

Provisional Pricing for Q3-2026 Copper Deliveries

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

First, monthly deliveries are billed on a provisional basis using the average LME copper price for that month. At the end of each month, these deliveries are adjusted to M+3 on a provisional basis and recognized as revenue from contracts with customers. Subsequently, the monthly deliveries are marked to market each reporting period and ultimately settled at a final price based on the LME average copper price for the third month following delivery.

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Final Pricing in Q3-2026 for Q2-2026 Copper Deliveries

Q2-2026 copper deliveries were marked-to-market on June 30, 2026, at an average price of $6.17/lb and settled at the LME average monthly copper prices for July, August and September 2026, as follows:

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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. The CRS uses three mechanisms: quarterly dividends, performance dividends, and share buybacks.

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 through share buybacks. YTD-2026 payments to shareholders totalled $69.5 million, including $45.0 million in performance dividends, $14.0 million in quarterly dividends, and $10.5 million in share buybacks.

As of September 30, 2026, Amerigo’s cash position stood at $50.1 million. On September 14, 2026, Amerigo declared a performance dividend of Cdn$0.21 per share, approximately $24.5 million, payable on October 14, 2026, to shareholders of record as of September 21, 2026.

Since implementing its CRS in October 2021, Amerigo has returned $168.0 million to shareholders through dividends and share buybacks, reduced shares outstanding by 15.4%, and maintained a strong financial position.

Release of Q3-2026 financial results on October 28, 2026

Amerigo will release its Q3-2026 financial results at the market open on Wednesday, October 28, 2026.

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 and 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).

Contact Information

Aurora Davidson
President and CEO
(604) 697-6207
ad@amerigoresources.com

Graham Farrell
Investor Relations
(416) 842-9003
gf@amerigoresources.com