Hispania Resources completes transaction at Lumbrales

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Toronto, Ontario--(Newsfile Corp. - September 17, 2026) - Hispania Resources Inc. (TSXV: ESPN) (" Hispania " or "the Company "), a mineral exploration company focused on properties in Spain, is pleased to announce that it has reached an agreement with Calveron Metal Resources LDA (" Calveron ") of Portugal, wherein Calveron can acquire up to a 100% interest in the company's wholly owned Lumbrales property via a Joint Venture Company between the two companies.

The Lumbrales property located in Castille, Spain, was acquired by Hispania from Siemcalsa and sits on the Stanniferous Iberian Belt which includes about 100 Tin and Tungsten deposits in Spain and Portugal. The terms of the agreement with Calveron are as follows:

Phase 1 Calveron shall between September 15, 2026, and September 1, 2027, incur expenditures of not less than 400,000 Euros of which 150,000 Euros shall occur before October 10, 2026 and 50,000 Euros before October 31 2026. In addition, Hispania shall be issued Two Hundred Thousand Euros worth of shares (200,000 Euros) in Calveron or Calveron's parent company. Upon successful completion Calveron will acquire a 25% interest in Lumbrales via the Joint Venture Company ("JVC").

Phase 2 Calveron shall between September 1, 2027, and September 1, 2028, incur a further 500,000 Euros of expenditures on the Lumbrales property and in addition Hispania shall be issued a further Three Hundred and Fifty Thousand Euros worth of shares (350,000 Euros) in Calveron or Calveron's parent. Upon completion of these expenditures Calveron will have earned 50% of the Lumbrales property via the JVC.

Phase 3 Calveron shall between September 2, 2028 and September 1, 2029, incur a further 1,000,000 Euros of expenditures on the Lumbrales property and in addition Hispania shall be issued a further Four Hundred and Fifty Thousand Euros worth of shares (450,000 Euros) in Calveron or Calveron's parent. Upon completion of these expenditures Calveron will have earned a 75% interest in Lumbrales via the JVC.

Upon earning a 75% interest in Lumbrales via the JVC, Calveron will have the option to acquire the remaining 25% interest owned by Hispania for One Million Euros (1,000,000 Euros). This option may be exercised any time in the three (3) years following completion of Phase 3 noted above.

Upon completion of the expenditures, Hispania will also own a 1.5% Net Smelter Royalty ("NSR") on all minerals and metals produced from the Project. Calveron will have the option to extinguish the NSR, at its sole discretion, by paying Hispania Two Million Five Hundred Thousand (2,500,000) Euros.

Over the past two and a half years, Hispania has:

completed the acquisition of Lumbrales from Siemcalsa

had its management and local representative (Facultivo) work with the local government and stakeholders on all aspects of the project site and local regulations therein

Completed a drilling program at the site