Fredonia updates El Dorado Monserrat Project and corporate status

Company completes approximately 3,500 meters of drilling, begins receiving assay results from its infill-focused program, continues advancing the PEA and strengthens development capabilities with the appointment of internationally experienced mining executive Gustavo Gomes TORONTO, July 07, 2026 (GLOBE NEWSWIRE) -- Fredonia Mining Inc. ("Fredonia" or the "Company") (TSXV: FRED) is pleased to provide an update on the continued advancement of its flagship El Dorado Monserrat ("EDM") Project in Santa Cruz Province, Argentina, where multiple technical and corporate initiatives are progressing in parallel as the Company advances the Project toward its next stage of evaluation. Over recent months, the Company has continued to execute several complementary technical and corporate initiatives designed to support the evaluation and advancement of EDM. These initiatives include the ongoing Preliminary Economic Assessment ("PEA"), the current diamond drilling campaign, which has now completed approximately 3,500 metres, geological modelling and resource refinement, and the strengthening of the Company's technical capabilities through the appointment of internationally experienced mining executive Gustavo ("Gus") Gomes as Strategic Advisor.

Together, these initiatives continue to strengthen the Company's understanding of the Project and support informed technical and development decisions. In addition, the Company recently expanded the EDM Project through two strategic land acquisitions, increasing the Project's footprint to approximately 33,500 hectares and extending the Company's district-scale land position toward the Cerro Vanguardia mining district. While these newly acquired lands are not expected to impact the current PEA or ongoing drilling program, they significantly strengthen the Company's strategic land position surrounding EDM and provide additional long-term exploration and development opportunitie