Edmonton, Alberta--(Newsfile Corp. - July 7, 2026) - Metalero Mining Corp. (TSXV: MLO) ("Metalero" or the "Company") is pleased to provide further geological context for its recently announced project acquisitions in Bolivia near the San Cristobal Silver-Lead-Zinc Mine. As announced on May 20, 2026, Metalero has applied for 230 square kilometers (km² or 23,000 hectares) of exploration concessions known as the San Cristobal East (SCE) and San Cristobal South (SCS) projects in western Bolivia (Figure 1).

"Our newly staked claims, next to two of the most prominent, and promising, silver assets in the world, are well aligned with Metalero's vision as an early mover in Bolivia," stated Rob L'Heureux, President & CEO of Metalero Mining. "The similarities between our SCE and SCS projects and the San Cristobal Mine is staggering as we look at the regional geology including multiple phases of mineralized magmatic activity, numerous faults and structures, and known mineral occurrences of precious- and base-metals. We are excited to be at the ground floor of this fantastic, unexplored opportunity."

The SCE and SCS projects share important common geological aspects with the San Cristobal Mine (SCM) and the Isidorito Prospect including (Figure 1)*:

• proximity to the Uyuni Fault System (UFS);
• a structural geology framework with intersections acting as magmatic and hydrothermal fluid pathways;
• permeable host rocks allowing for the infiltration of mineralizing fluids;
• similar geology in the surrounding area hosts small- and large-scale mines and occurrences; and
• mapped intrusive and volcanic rocks with ages bracketed by the SCM and Isidorito host rocks.

* The information concerning adjacent properties and mineralization is provided solely for informational purposes and should not be construed as a guarantee of mineral presence, quality, or economic viability. While efforts have been made to provide accurate and up-to-date information, mineralization can vary significantly between properties and may not be indicative of similar conditions on Metalero's properties. Neither Metalero nor the QP have visited these adjacent properties and have not verified the information presented.

Figure 1. Geological map and schematic stratigraphic column of the San Cristobal region including SCE, SCS, the San Cristobal Mine and the Isidorito prospect. Metalero's SCE and SCS projects (yellow outlines) total ~230 km². The map shows the SCE and SCS underlain by geological units known to host mineralization elsewhere in the region, multiple ages of significant structures and faults known to control the distribution of mineralization and intrusive activity, and mineralized intrusive/volcanic rocks with overlapping ages to the significant projects in the region. This area is also geologically connected to the Pulacayo-Paca and Cosuño projects which lie approximately 100 km northeast along the Uyuni Fault System. The city of Uyuni, 75 km to the north, provides road access, infrastructure and logistical support including an international airport. **The stratigraphic position of the Pulacayo-Paca and Cosuño projects are inferred from limited geological information and timing relationships.

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GEOLOGICAL MERITS OF THE SCE AND SCS PROJECTS

The SCE Project lies approximately 5 km east of the San Cristobal Mine and covers ~140 square kilometers (km² or 14,000 hectares). The project contains multiple series and ages of geological structures and structural intersections, including the UFS and younger east-northeast trending faults which extend outward from the main 7.6 Ma volcanic unit of the San Cristobal Mine. Fracture networks, such as these, are critical in epithermal systems for the transportation of mineralizing fluids. The permeable tuffs and conglomerates at the SCE Project, coupled with the existing fracture network could allow for the infiltration of mineralizing fluids and the subsequent precipitation of metals.

The SCS Project is about 40 km southwest of the San Cristobal Mine, 6 km east of the Isodorito Project, and covers ~90 square kilometers (km² or 9,000 hectares). The geology along the eastern boundary consists of the same sedimentary rocks which host the San Cristobal Mine lavas and numerous additional gold-silver and copper occurrences and mines in the region (Figure 1). These sedimentary rocks are intruded by 6.27 Ma porphyritic andesites, a phase of magmatic activity that falls between the 7.6 Ma San Cristobal Lavas and the 2.6 Ma Negra Lavas that are the target of the Isidorito Project to the west.

SAN CRISTOBAL MINING - PRODUCTION AND EXPLORATION HIGHLIGHTS*

• Producing silver, lead and zinc since August 2007
• Currently producing ~38 million silver equivalent ounces per year with all-in production costs of ~$17USD/ounce (silver equivalent) (Quinton Hennigh Swiss Resource Capital AG Interview, November 18, 2025)
• Aggressive exploration with up to 14 drill rigs over the last two years has yielded 12-13 years of additional sulphide mineralization with the potential to expand out 25 years to 2050 (Quinton Hennigh - Metals Investor Forum, January 28, 2026)
• Potential future development of stockpiled oxide material containing ~200 million ounces of silver for an additional 12-13 year mine life (Quinton Hennigh - Metals Investor Forum, January 28, 2026)
• Exploration with 10 drill rigs at the Isidorito prospect 40 km south of the San Cristobal Mine (Quinton Hennigh - PDAC Presentation – March 3, 2026)

* The information concerning adjacent properties and mineralization is provided solely for informational purposes and should not be construed as a guarantee of mineral presence, quality, or economic viability. While efforts have been made to provide accurate and up-to-date information, mineralization can vary significantly between properties and may not be indicative of similar conditions on Metalero's properties. Neither Metalero nor the QP have visited these adjacent properties and have not verified the information presented.

SAN CRISTOBAL REGIONAL BACKGROUND

The San Cristobal region lies in the Potosi department of southwestern Bolivia along the borders with Chile and Argentina. This area is dominated by the Andes Mountain Range and the Altiplano Basin. The Andes formed through long-term plate subduction along the west coast of South America with consequent intense folding, faulting and magmatic activity. This tectonic activity led to the formation of prolific silver, lead, zinc and tin deposits in this region of Bolivia hosted in younger rocks <23 million years old. The Altiplano Basin is a high-elevation sedimentary trough spanning the vast Altiplano Plateau between two ranges of the Andes and hosts over 75% of the world's lithium in high-concentration salt flats.

About Metalero Mining Corp.

Metalero Mining Corp. is a Canadian-based junior exploration company focused on copper, silver and gold projects in the Americas including ongoing acquisitions in Bolivia. Its 173 square kilometre, road-accessible Benson Project in northern British Columbia has served as Metalero's flagship and is host to five prospects containing copper and gold within porphyry-related mineralized systems.

Qualified Person

The technical content of this news release was reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a non-independent qualified person as defined by National Instrument 43-101.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-Looking Statements This news release may contain certain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements in this press release are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These include, but are not limited to, risks associated with the mining industry in general, the exploration and development of mineral properties, the Company's ability to obtain necessary financing, and general economic, market or business conditions. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. Metalero disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Metalero Mining Corp.