Argentina Metals Corp. (TSX-V: VLLC) (OTCQB: VLLCF) (FSE: VA5) is pleased to announce that, further to its news release dated October 23, 2026, the Company has closed the first tranche of its previously announced non-brokered private placement. The Company issued 4,790,745 common shares at a price of $0.32 per Share for gross proceeds of $1,533,038.40.

The net proceeds from the sale of the Shares will be used for exploration expenses on its project portfolio in Mendoza Province, Argentina, working capital and general corporate purposes.

Aumontis Holding AG, a Lichenstein-based natural resources fund directed by the Company’s Chairman and the largest shareholder of VLLC, is the lead investor in the Offering having purchased 3,125,000 Shares. Participation in the Offering by an insider of the Company constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The issuance of securities to the insider of the Company is exempt from the valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively. The Company did not file a material change report at least 21 days in advance of the closing of the Offering as the participation of Aumontis in the Offering had not been confirmed at that time.

All securities issued pursuant to the first tranche closing are subject to a statutory hold period of four months and one day from the date of issuance, expiring on March 13, 2027, in accordance with applicable securities legislation.

The first tranche closing remains subject to final acceptance by the TSX Venture Exchange.

The Company expects to complete an additional tranche of the Offering, subject to applicable regulatory approvals.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

Early Warning Report

In connection with the closing of the first tranche of the Offering, certain reporting thresholds were triggered by Aumontis that require the filing of an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Prior to the closing of the first tranche of the Offering, Aumontis held 18,800,001 Shares of the Company (inclusive of Shares held directly by Titus Gebel, the controlling shareholder of Aumontis and the Chairman of the Company), which represented 25.65% of the issued and outstanding Shares. Following the first tranche of the Offering, in which Aumontis acquired 3,125,000 Shares, Aumontis holds 21,925,001 Shares (inclusive of Shares held directly by Mr. Gebel), which represents approximately 28% of the issued and outstanding Shares. Aumontis holds the securities for investment purposes and may, from time to time, acquire additional securities of the Company or dispose of such securities as it may deem appropriate.

A copy of the early warning report that will be filed by Aumontis may be obtained on the Company’s SEDAR+ profile at www.sedarplus.ca or by contacting the Company at the email or phone number below.

About Argentina Metals Corp.

Argentina Metals Corp. (TSX-V: VLLC) (OTCQB: VLLCF) (FSE: VA5) is a Canadian copper exploration company focused on Mendoza Province, Argentina. The Company holds approximately 146,700 hectares across 26 projects, all 100%-owned on a clean-title basis with no private royalties, NSRs, back-in rights or earn-in obligations, other than royalties payable to the Province of Mendoza. Anchored by its flagship Las Estrellas Project, the Company has built an early position in an underexplored part of the Argentine Andes amid the pro-mining reforms reshaping the country’s resource sector. For more information, visit our website at www.argentinametals.com.