Patagonia Gold names Carlos J. Miguens as former chairman

VANCOUVER, British Columbia, July 20, 2026 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) regrets to announce that Mr. Carlos J. Miguens, former Chairman of the Company, passed away on July 18, 2026.

Mr. Miguens was a prominent figure in international business and a cornerstone of Patagonia’s growth and evolution. During his tenure as a director, and as a significant shareholder and investor in the Company, Mr. Miguens contributed meaningfully to the development of Patagonia. In particular, his support helped the Company advance the development of its flagship Calcatreu Project in Rio Negro Province, Argentina.

Mr. Miguens served as Chairman of the Company from July 2019, when its shares first started trading on the TSX Venture Exchange, to October 2022. During this time he provided the Company with strategic vision, disciplined capital oversight and a long-term perspective that have been instrumental in advancing the Company’s portfolio of gold and silver assets in Argentina.

The Board of Directors and management of Patagonia express their deepest condolences to Mr. Miguens’ family, friends and colleagues during this difficult time.

Christopher van Tienhoven, Chief Executive Officer of the Company, commented: “Carlos was an exceptional business leader whose strategic vision and unwavering support were fundamental to the development of the Company. His commitment to the Company was critical to building the strong foundation we have today and his contributions will have a lasting influence on our organization. His support has enabled the advancement of the Calcatreu Project, as well as its other core assets, and positioned the Company for future growth. On behalf of the Board of Directors and management, we extend our sincere condolences to his family. We remain committed to continuing the disciplined strategy and long-term value creation principles that he championed.”

The Miguens family has confirmed its commitment to honour Mr. Miguens' legacy by continuing to remain a long-term shareholder of the Company and to continue supporting the responsible development of mining in Argentina through Patagonia Gold's portfolio of projects. Consistent with the applicable estate arrangements, Mr. Miguens' shareholdings will transition to his heirs.

Patagonia will honour Mr. Miguens’ legacy by continuing to advance its portfolio of high-quality mineral assets, with a focus on disciplined project development, operational execution and sustainable value creation for its shareholders.

About Patagonia Gold

Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.

For more information, please contact:

Christopher van Tienhoven, Chief Executive Officer Patagonia Gold Corp T: +54 11 5278 6950 E: cvantienhoven@patagoniagold.com

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, the impact of the estate arrangements, the advancement and development of gold and silver projects in the Patagonia region of Argentina, the anticipated growth in shareholder value. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.