Mexican Gold closes subscription receipt financing and loan to Alcon Silver

Vancouver, British Columbia--(Newsfile Corp. - June 15, 2026) - Mexican Gold Mining Corp. (TSXV: MEX) (" Mexican Gold " or the " Company ") and Alcon Silver Corp. (" Alcon ") announce that, in connection with the previously announced arrangement agreement dated April 8, 2026 between the Company and Alcon (the " Arrangement Agreement "), the Company intends to complete a non-brokered private placement of up to 11,250,000 subscription receipts of the Company (the " Subscription Receipts ") at a price of $0.20 per Subscription Receipt, for aggregate gross proceeds of up to $2,250,000 (the " Offering "). The Offering constitutes a concurrent financing to the Arrangement (as defined below) and is subject to acceptance of the TSX Venture Exchange (the " TSXV "). On April 8, 2026, Mexican Gold and Alcon entered into the Arrangement Agreement, pursuant to which Mexican Gold will acquire all of the issued and outstanding common shares of Alcon (the " Alcon Shares ") in exchange for newly issued common shares in the capital of Mexican Gold (the " Consideration Shares ") at an exchange ratio of 1.0 post-Consolidation Mexican Gold common share for each Alcon Share, by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the " Arrangement ").

In connection with the Arrangement, Mexican Gold will complete a consolidation of its outstanding common shares on a 1.6667-to-1 basis (the " Consolidation ") and a change of its corporate name to Platauro Metals Corp. (the " Name Change "). The Supreme Court of British Columbia has granted an interim order in respect of the Arrangement authorizing the calling and holding of a meeting of Alcon shareholders to approve the Arrangement (the " Meeting "). The Meeting is scheduled to be held on July 3, 2026, and shareholders of Alcon have now been mailed proxy materials as well as an information circular describing the Arrangement.

See the Company and Alcon's news release dated April 8, 2026 for further details regarding the Arrangement. In connection with the Arrangement, Mexican Gold and Alcon have entered into an interim loan agreement dated June 12, 2026 (the " Interim Loan Agreement "), pursuant to which Mexican Gold has agreed to advance to Alcon an unsecured, non-interest bearing loan in the principal amount of $250,000 (the " Interim Loan "). The proceeds of the Interim Loan will be used by Alcon for general corporate purposes, working capital requirements, regulatory compliance, professional fees, property maintenance costs and other ordinary-course expenditures pending completion of the Arrangement.

Upon completion of the Arrangement, the Interim Loan will be automatically satisfied, discharged, cancelled and extinguished without any further action by either party. If the Arrangement is not completed on or before August 31, 2026 (or such later date as the parties may agree), the Interim Loan will become a conventional third-party loan bearing interest at 12% per annum and will be repayable upon demand by Mexican Gold. As a result of the Offering and the Interim Loan, Alcon will discontinue the marketing of the remaining $117,650 of its convertible debenture offering detailed in its management information circular dated May 26, 2026, which was mailed to Alcon security holders on June 5, 2026.