Mineros S.A. announces that effective May 29, 2023, it has terminated and, where applicable, settled all outstanding obligations under all of its agreements with Royal Road Minerals Limited ("Royal Road"). Mineros and Royal Road have terminated strategic alliance agreements for exploration of their respective properties in Nicaragua and Colombia, and related joint ventures in respect of the Caribe Exploration Target, located on the Hemco Property in Nicaragua, and the Guintar-Niverengo Margarita Exploration Target, located in the Anza Province, Colombia. Royal Road has relinquished its 50% joint venture interest in Caribe Exploration Target to Mineros' subsidiary Hemco Nicaragua S.A. ("Hemco"), which is now 100% owned by Hemco.

A 1.25% net smelter returns royalty applicable to the two concessions that host the Luna Roja Deposit, which was granted to Royal Road on May 2021 in connection with Mineros' acquisition of Royal Road's 50% joint venture interest in those concessions, was terminated, and provisions under the related asset purchase agreement in respect of exploration expenditures to be incurred at the Hemco Property have been released. Mineros has also relinquished its 50% joint venture interest in the Guintar-Niverengo Margarita Exploration Target to Royal Road. Mineros and Royal Road have also annulled a cooperation agreement relating to Mineros' Gualcamayo Project in Argentina.