Mineros S.A. Announces Share Repurchase Program in the Colombian Public Market

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MEDELLIN, Colombia — Mineros S.A. (TSX:MSA, MINEROS:CB) (“Mineros” or the “Company”), a leading gold producer in Latin America, today announced that its Board of Directors has authorized the commencement of a share repurchase program, following the repurchase plan’s approval by the General Shareholders’ Meeting on March 31, 2025, under which the Company may repurchase common shares of the Company up to the value of US$12 million through the Colombian Stock Exchange (Bolsa de Valores de Colombia, or the “BVC”).

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The share repurchase program will remain in effect until March 31, 2027, or when the maximum value of shares has been repurchased, whichever condition is met first, unless extended or terminated earlier by the Company. The repurchases will be made in accordance with applicable Colombian regulations, including those established by the Financial Superintendent of Colombia (Superintendencia Financiera de Colombia), and will be conducted through open market transactions at prevailing market prices.

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The Company believes that the repurchase of its shares represents an attractive opportunity to deploy capital efficiently and reflects its confidence in the long-term value of Mineros’ gold production. Repurchased shares will be held in treasury.

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“This share buyback program reflects our continued commitment to delivering value to our shareholders and our confidence in the strength of our balance sheet and future cash flows,” said David Londoño, President and Chief Executive Officer.

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The timing and amount of any share repurchases will depend on market conditions, share price, and other factors. The Company is under no obligation to repurchase any specific number of shares and may modify, suspend or discontinue the program at any time.

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ABOUT MINEROS S.A.

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Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua, and a pipeline of development and exploration projects.

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The board of directors and management of Mineros have extensive experience in mining, corporate development, finance, and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For over 50 years Mineros has operated with a focus on safety and sustainability at all its operations.

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Mineros’ common shares are listed on the Toronto Stock Exchange under the symbol “MSA”, and on the Colombia Stock Exchange under the symbol “MINEROS”.

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Election of Directors – Electoral Quotient System

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The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company’s most recent annual information form, available on the Company’s website at https://www.mineros.com.co/ and from SEDAR+ at www.sedarplus.com.

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FORWARD-LOOKING STATEMENTS

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This news release contains “forward looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, the timing of the commencement of the share buyback, the timing and amount of repurchases of shares; the Company’s planned exploration, development and production activities; and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements.

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Forward looking information is based upon estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

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For further information of these and other risk factors, please see the “Risk Factors” section of the Company’s annual information form dated March 25, 2024, available on SEDAR+ at www.sedarplus.com.

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The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward looking information contained herein. There can be no assurance that forward looking 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.