May 1, 2026 – Mogotes Metals Inc. (TSXV: MOG, FSE:OY4, OTCQB: MOGMF) (“Mogotes”, or the “Company”) is pleased to announce the discovery of a large, shallow gold breccia system and an underlying gold-copper-molybdenum porphyry at its Cruz del Sur target, part of the Filo Sur project in Argentina’s Vicuña district.

The system spans a 4.0 x 0.5 km geophysical footprint, sits at a lower elevation relative to other targets, is largely concealed by thin cover and remains open in all directions and at depth.

This release presents results from the Cruz del Sur and Stockwork Hills prospects (figures 1-3). Drilling continues at the prospective northern Luz del Sol – Meseta target cluster (figure 4) and will proceed as long as the season permits, with assays from this area anticipated in June.

Highlights

• New near-surface gold-zinc breccia discovery:24 m at 1.01 g/t Au(FS_DDH_007) within120 m at 0.52 g/t Aufrom just 24 m depth

• Underlying gold-copper porphyry confirmed:62 m at 0.62 g/t Au and 800 ppm Cu(FS_DDH_006) within a 258 m interval at 0.36 g/t Au and 744ppm Cu

• Copper grades improving with depth, pointing to higher-grade potential below current drill coverage

• Only a fraction of the largely gravel covered, 4.0 x 0.5 km target footprint has been tested and the system is open along strike and at depth.

Drilling Ongoing at Northern Targets

The drilling program continues at the Luz del Sol – Meseta target cluster to the south of the BHP – Lundin Filo del Sol copper-gold-silver deposit (see figure below). The rigs are drilling at the priority Luz del Sol target, where the Mogotes team has logged encouraging geological features. Assays are expected to be reported in June, subject to laboratory timelines.

Allen Sabet, President and CEO, commented:

“These results mark a genuine discovery – a system we tracked from geophysics through to drill confirmation. Cruz del Sur is large, shallow, and accessible, and it remains open in every direction and at depth.

 

“While these initial intercepts are early-stage, the scale of the footprint and the way copper grades strengthen with depth give us a clear roadmap: chase higher-grade gold in the near-surface breccia, and test the porphyry where the geophysics suggests stronger copper at depth.

 

“In parallel, our rigs are turning at Luz del Sol in the north, where the geology so far is encouraging. Those assays are expected in June.

 

“We have plenty of running room across this large land package and its now clear that there are multiple mineralizing events at play here in the Filo Sur project.”

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To read the full news release please click HERE

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At the time of writing the author holds shares in Mogotes Metals.

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