Mexican Gold Mining closes $2,299,000 subscription receipt financing, consolidates shares

Vancouver, British Columbia--(Newsfile Corp. - July 14, 2026) - Mexican Gold Mining Corp. (TSXV: MEX) (the " Company ") is pleased to announce the closing of its previously announced non-brokered private placement of 11,495,000 subscription receipts (each, a " Subscription Receipt ") at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $2,299,000 (the " Concurrent Financing "). Upon completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia) (the " Arrangement ") pursuant to the arrangement agreement dated April 8, 2026 (the " Arrangement Agreement "), whereby the Company will acquire all of the issued and outstanding common shares of Alcon Silver Corp. (" Alcon "), each Subscription Receipt will automatically convert into one unit of the Company (each, a " Unit "), with each Unit consisting of one common share of the Company (on a post-Consolidation basis) and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). The Subscription Receipts and the securities issuable thereunder have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from registration.

All securities issued pursuant to the Concurrent Financing are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. Jack Campbell, CEO and Chairman of the Company, subscribed for 300,000 Subscription Receipts under the Concurrent Financing. The subscription by Mr. Campbell was considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ").

Such subscription was exempt from the formal valuation requirement of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 and the minority shareholder approval requirement of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101, as the fair market value of such subscription did not exceed 25% of the Company's market capitalization. Following release from escrow, the net proceeds of the Concurrent Financing will be used for exploration of the Princesa project, exploration of the Rowdy claim at Tatatila, legal fees associated with the Las Minas claims dispute, and for general corporate and working capital purposes. In connection with the Concurrent Financing, the Company paid cash finders' fees of $500.

The Concurrent Financing remains subject to final approval of the TSX Venture Exchange. Name Change and Consolidation In addition to the Concurrent Financing, the Company is pleased to announce that it anticipates closing the previously announced Arrangement on or about July 16, 2026 and in connection therewith effective at the close of business on July 16, 2026, it will consolidate its common share capital on a 1.6667-for-one basis (the " Consolidation ") and change its name to "Platauro Metals Corp." (the " Name Change "). Effective at the open of markets on or about July 20, 2026, the common shares of the Company will commence trading on a post-Consolidation basis under the new name and ticker symbol "PURO" and new CUSIP 727632101.