Latin Metals Inc.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Latin Metals is a resource exploration company focused on precious metals and copper projects in historically resource-rich regions of South America, specifically in Peru and Argentina. The Company operates on a prospect generator model, focusing on the acquisition of prospective exploration properties at minimum cost, followed by initial evaluation through cost-effective exploration to establish drill targets. Latin Metals ultimately secures joint venture partners to fund drilling and advanced exploration, and in doing so, exposes shareholders to the upside of mineral discoveries while conserving capital and minimising dilution.

Projects in Hand

PERU

Coastal Copper Belt

The Coastal Copper Belt in Peru is a Cretaceous belt hosting a variety of deposit types including Porphyry, Epithermal, VMS and IOCG. Latin Metals has a total of six 100%-owned copper exploration properties in the Coastal Belt. The Company's Lacsha copper-molybdenum project is drill ready and fully permitted for drilling. The Auquis copper-molybdenum-gold project is advanced and expected to be drill ready in 2023 and Tillo and Para properties are in the starting process of exploration.

Lacsha Copper Project

Copper-Molybdenum Project

• Drill Permit on 100% owned 4,000-hectare property

Immediately south and contiguous with Newmont's Sumacwayra copper-gold discovery

“Surface exploration completed during 2022 successfully framed the Lacsha project as a potentially intact porphyry copper system with multiple drill-ready targets,” stated Keith Henderson, the Company's CEO. "Surface rock chip-channel sampling has defined consistent mineralization including 52 m grading 0.38% copper and 237 ppm molybdenum. While these surface grades are excellent, subsequently completed IP chargeability data points to peak chargeability below surface at approximately 100 m from surface. The project requires drilling to test for mineralization to depth and establish whether the chargeability anomaly could reflect higher grade copper mineralization." (See news release Jan 9, 2023)

The Company will continue to negotiate with potential partners to fund drill testing of priority targets.

Auquis Copper-Gold Project

• 100% owned 3,600-hectare property
• Initial soil survey completed Q1 2022 defines 3.0 km x 2.0 km copper anomaly (500ppm copper to 2,300 ppm copper-in-soil), confirming the anomaly extent previously defined by stream sediment sampling.
• 430 rock samples collected over main soil anomalies. Rock chip grades range from 22 ppm to 12.8% copper.

Ongoing mapping and prospecting has identified two additional mineralized zones, Tinto and Blanco Zones, with high-grade copper and base metal mineralization. Several styles of mineralization have been identified including newly discovered porphyry-style copper mineralization, and skarn mineralization. The property now hosts three distinct mineralized zones.

Once processing of the recently collected magnetic data is complete, the data will be interpreted and used to refine the exploration model before additional follow-up sampling is undertaken at the new zones of mineralization and throughout the remainder of the property. (See news release April 4, 2023)

Tillo Copper Project

• 100% owned 2,000-hectare property
• 253 soil and talus samples identified several anomalous zones, including a single 2,500 m x 1,000 m anomaly.
• Within large anomaly, copper ranges from 250 ppm to 1,050 ppm with supporting molybdenum mineralization
• Mapping identifies porphyry-hosted copper mineralization and associated alteration signatures
• Rock sampling supports soil / talus anomaly

Para Copper Project

• High grade copper mineralization discovered at the Para project
• Anomalous talus fines geochemistry ranges 251 ppm copper to 1,505 ppm copper, with supporting molybdenum mineralization
• Largest anomaly is 2,000 m x 1,000 m
• Latin Metals stakes additional 1,300 hectares due to positive results to date

Southern Peru Copper Belt

Staking Quality Copper Exploration Projects

• Jacha Project is located into the prolific Andahuaylas-Yauri porphyry-skarn belt in southeastern Peru
• This belt hosts numerous copper deposits

ARGENTINA

Salta Province Projects

• AngloGold has an option to earn up to an 80% interest in the Company's Organullo, Ana Maria, and Trigal Gold projects.
• AngloGold has received permits to complete a helicopter-borne magnetic and radiometric survey ahead of planned drilling. A drill permit has been submitted for up to 11,900m (up to 39 drill holes) on the Breccia Hill, Axel, and Nemo targets.
• AngloGold's current plans include 7,000 m of Phase 1 drilling in 2023. (See news release March 6, 2023)

Esperanza Copper-Gold Project

• Libero Copper has an option to earn a 70% interest in the project; LMS retains 30% interest
• The Esperanza project consists of an outcropping copper-gold porphyry system, juxtaposed beside a gold epithermal system. Rock sampling at surface provides a sense of the system dimensions and highlights that both high-grade gold and copper occur at surface.

Santa Cruz Projects

• Precious Metals Projects
• Cerro Bayo and La Flora projects optioned to Barrick (85% interest earned)

Mina Angela Gold Project

• Closed project sale to Patagonia Gold
• LMS holds 1.25% NSR Royalty

El Quemado Lithium Project

• Closed project sale to South American Lithium Inc.
• LMS holds 2.0% NSR Royalty

Mirador Copper Project

• Recognized key geological characteristics in common with sediment hosted copper deposits globally
• Brand new deposit model in a thoroughly under-explored portion of Salta province
• Belt has potential source rocks, host rocks and structure required to support sediment-hosted model
• Initial work – proof of concept – located shale-hosted copper mineralization grading 2.4% copper.

Investment Highlights

Technical Team

• Experienced and technically focused team generate projects and secure acquisitions
• Critical to acquire projects that will attract major company investment

Quality Partners

• Financially capable with excellent discovery teams
• Major companies have high hurdle rates
• Current partners include Libero Copper, AngloGold Ashanti, and Barrick Gold

Retained Interest

• Latin Metals retains an interest in each partnered project

Excellent Structure

• 70 million shares issued and outstanding
• Almost 50% with Management and Board

Less Dilution

• Company runs lean at <$2.0 million per annum
• Current agreements for up to $35 million of non-dilutive investment in Latin Metals and its projects

Five-Year Plan

• Aiming for an average $25 million of partner investment per year / equivalent to ~75,000m drilling

Management

Management and Directors

Keith Henderson, CEO & Director, Vancouver, Canada

30 years global experience in resource sector

Leading role advancing Pampa de Pongo through PEA and $100 million cash sale

Dr. Mario Castelli, President, Salta, Argentina

Lawyer with 30 years experience with specialization in exploration and mining

Provincial and Federal senior agency positions

Eduardo Leon, Exploration Manager, Lima, Peru

Senior geologist at Lumina's Taca Taca (sold $470M), numerous senior technical positions in South America. Recently Exploration Manager for Auryn Resources

Dani Palahanova, CFO, Vancouver, Canada

15 years experience in finance and accounting

Formerly CFO, Controller, and Corporate Secretary for various public companies

Daniel MacNeil, Technical Advisor, Vancouver, Canada

Precious and base metal specialist with 20 years experience across regional project generation and in-mine resource expansion

Elyssia Patterson, Director of Corporate Communications, Vancouver, Canada

15 years in corporate communications and marketing

Advancing the general corporate development of public companies

David Cass, Director

Geologist with 30 years experience, with 15 years as senior executive at Anglo American

Currently VP Exploration at Bluestone Resources

Robert Kopple, Director

Experienced businessman, investor and lawyer

Ryan King, Director

20 years experience in capital markets and shareholder relations

News Update

On March 13, 2024, Latin Metals Inc. has entered into a binding letter agreement with Golden Arrow Resources Corp. to earn up to a 100-per-cent interest in the 3,500-hectare Huachi property. Huachi is contiguous with the company's Esperanza project located in San Juan province, Argentina. Option agreement terms:

Under the terms of the letter agreement, Latin Metals has been granted the option to earn an initial 75-per-cent interest in the Huachi project by incurring exploration expenditures totalling $1-million (U.S.) and making cash payments of $1-million (U.S.) to Golden Arrow over a four-year period (see the table entitled "Commercial terms to acquire up to 100-per-cent interest in the Huachi property, San Juan province"). The letter agreement will serve as the basis for the preparation of the definitive agreement, to be completed within 90 days after the execution of the letter agreement (signed).

Following the exercise of the option, Latin Metals shall have a top-up right whereby Latin Metals can purchase the remaining 25-per-cent interest in the Huachi property (aggregate 100 per cent) by providing notice to Golden Arrow within 60 days after exercise of the option and paying $2-million (U.S.) cash to Golden Arrow (see the table entitled "Commercial terms to acquire up to 100-per-cent interest in the Huachi property, San Juan province") within 90 days after exercise of the option. Upon completion of the acquisition, Golden Arrow's interest shall be reduced to a 1-per-cent NSR (net smelter return) royalty.

On February 09, 2024, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Jan. 26, 2024.

Number of shares: 10 million shares

Purchase price: seven cents per share

Warrants: five million share purchase warrants to purchase five million shares

Warrant exercise price: 15 cents for a two-year period

Number of placees: 14 placees

Total existing insider involvement: 4.3 million (one insider)

Total pro group involvement: 2.27 million (four pro groups)

On February 06, 2024, Latin Metals Inc. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $700,000 through the issuance of 10 million units at a subscription price of seven cents per unit. The proceeds from the financing will support continued exploration and generative activities across Latin Metals' project portfolio in Argentina and Peru, alongside general working capital needs. The engagement of insiders in the financing highlights their continuing support and confidence in Latin Metals' strategic direction and exploration potential. The closing of the financing is subject to receipt of TSX Venture Exchange final approval. Latin Metals thanks its investors and stakeholders for their continued support and looks forward to providing further updates on its exploration progress and strategic partnerships.

On January 26, 2024, Latin Metals Inc. has arranged a non-brokered private placement for gross proceeds of up to $700,000.

The private placement will consist of up to 10 million units at a subscription price of seven cents per unit to raise total gross proceeds of up to $700,000. Each unit will consist of one common share in the capital of Latin Metals and one-half common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one share at a price of 15 cents for a period of 24 months from the closing of the financing. Certain directors and officers of the company are expected to subscribe for approximately 4.3 million units under the financing (for gross proceeds of $301,000).

The proceeds of the financing are intended for continuing exploration and generative work as well as general working capital.

On January 23, 2024, Latin Metals Inc. has acquired by staking the 68,000-hectare Terraza copper exploration project in northwest Argentina. Latin Metals is a first mover in exploring sediment-hosted copper deposits in this emerging belt and, with this acquisition, increases its ground holding to more than 500,000 hectares.

Latin Metals' exploration efforts in northwest Argentina are focused on understanding and unlocking the potential for sediment-hosted copper deposits in this emerging belt. The first step is a large-scale drainage survey where the company hopes to take more than 1,500 samples, essentially screening and prioritizing the entire 500,000-hectare land position. This boots-on-the-ground approach is what emerging belts need the most, and the drainage samples will be accompanied by systematic prospecting, mapping and sampling of mineralized outcrops.

Work to date has included 196 stream sediment samples covering approximately 60 per cent of the Mirador copper project. Sample pulps have been prepared by a commercial laboratory, but analysis using the company's portable X-ray fluorescence has been delayed by unscheduled equipment service by the manufacturer. Analysis of mineralized rock samples at Mirador is continuing with results expected in due course.

On December 21, 2023, Latin Metals Inc. has issued a notice of default and termination to Libero Copper & Gold Corp. under a letter option agreement dated Jan. 20, 2023, as amended, between Latin Metals and Libero. Pursuant to the Letter Agreement, Latin Metals had granted to Libero the option (the "Option") to acquire a 70% interest in and to the Esperanza property ("Esperanza" or the "Project"). The Letter Agreement and Option were terminated for Libero's failure to make a payment in the amount of US$350,000, on or before December 6, 2023, on account of a payment that was due to the underlying owner of the Project (the "Vendor").

Latin Metals' has subsequently renegotiated the commercial terms of the underlying exclusive option to acquire a 100% interest in the Project (the "Underlying Option") and has entered into an amending agreement with the Vendor. The amending agreement postpones the December 2023 cash payment until May 5, 2024 and reduces the amount of the payment to US$100,000 (which payment is an irrevocable commitment).

On November 22, 2023, Latin Metals Inc. has made significant progress at its Organullo project where an existing option agreement with AngloGold Argentina Exploraciones S.A., a wholly owned subsidiary of AngloGold Ashanti PLC, provides AngloGold with an option to earn up to an 80-per-cent interest in the project. AngloGold has completed an airborne geophysical survey collecting magnetic and radiometric data over most of the project area.

"This extensive geophysical survey is a significant step for the Organullo project. With the survey complete, processing is in progress, and we look forward to seeing the results of the survey in due course," stated Keith Henderson, Latin Metals' chief executive officer. "The data and interpretation will be integrated with existing data collected by AngloGold to help finalize drill targets. AngloGold Ashanti has submitted a drill permit for 11,900 m and plans to commence drilling once this permit and other licences are received."

On November 03, 2023, The TSX Venture Exchange has accepted for filing the company's proposal to issue six million bonus warrants to certain arm's-length and non-arm's-length parties, in consideration of loans in the amount of $600,000 for a term of one year, which bears interest at a rate of 10 per cent per annum. Each bonus warrant entitles the holder to acquire one common share at an exercise price of 10 cents for a one-year period.

On October 27, 2023, Latin Metals Inc. has provided details of projects in Argentina and Peru, for which it is seeking partners to enter into option agreements. Latin Metals holds a diversified portfolio of mineral exploration assets in South America. The company operates with a prospect generator model whereby partners are secured under option agreements to finance drilling and advanced exploration. The company has several projects which are drill-ready and for which partners are being sought.

On October 16, 2023, Latin Metals Inc. has signed an agreement with the community of Sahua Sahua located in Paruro, Cusco region. The agreement clears the path for exploration at the company's 100-per-cent-owned Jacha project. Latin Metals' staff have begun collecting soil and rock samples at this high-priority project.

Keith Henderson, chief executive officer, commented: "The Jacha project is located in the Andahuaylas-Yauri belt in southern Peru, an established porphyry/skarn mining district, host to the Las Bambas and Huaquira copper mines. Latin Metals acquired the project in 2020 and quickly set out a stakeholder engagement strategy with the objective of securing a community agreement. We determined that it was crucial to establish this agreement prior to commencing any work to ensure that our relationship with the community began on a positive note."

On October 16, 2023, Latin Metals Inc. has signed an agreement with the community of Sahua Sahua located in Paruro, Cusco region. The agreement clears the path for exploration at the company's 100-per-cent-owned Jacha project. Latin Metals' staff have begun collecting soil and rock samples at this high-priority project. Keith Henderson, chief executive officer, commented: "The Jacha project is located in the Andahuaylas-Yauri belt in southern Peru, an established porphyry/skarn mining district, host to the Las Bambas and Huaquira copper mines. Latin Metals acquired the project in 2020 and quickly set out a stakeholder engagement strategy with the objective of securing a community agreement. We determined that it was crucial to establish this agreement prior to commencing any work to ensure that our relationship with the community began on a positive note."

On September 27, 2023, Latin Metals Inc. has released positive results from surface sampling at the Blanco and Tinto zones on the Auquis project in Peru. Soil and rock sampling expand and further define significant porphyry and skarn zones. Regionally, this important area appears to host a cluster of potential deposits within the Auquis property and in contiguous properties held by other companies. Highlights of the Results:

Robust Geochemical Signatures: The soil sampling results have unveiled robust anomalous geochemical signatures associated with both porphyry and skarn-style mineralization. These promising signatures define key targets for further exploration efforts (Figure 1).

Porphyry Mineralization at Rose Zone: On the eastern side of the property, the Rose Zone has demonstrated substantial copper soil anomalies extending over an area of approximately 2.5km x 1.5km. This anomaly corresponds with a characteristic zinc low; a common feature in porphyry systems.

Skarn Mineralization at Blanco Zone: The western part of the property, particularly the Blanco Zone, has yielded outcropping skarn mineralization with a prominent multi-element base metal signature. A zinc anomaly spanning 3km in length has been identified, further underscoring the zone's potential.

On August 03, 2023, Latin Metals Inc. has released the results of its annual general meeting of shareholders held on Aug. 3, 2023, in Vancouver, B.C. All the motions presented to the shareholders were approved.

Votes representing 48,847,648 shares were cast, representing 68.34 per cent of the issued and outstanding shares at the record date.

On July 17, 2023, Latin Metals Inc. has made significant progress at its Mirador project in Argentina, with the discovery of additional outcropping copper mineralization where an extensive drainage survey is under way to screen the entire property. Initial prospecting at Mirador (previous news release Jan. 17, 2023) identified outcropping sediment-hosted copper mineralization with one sample grading 2.4 per cent copper (Cu). The discovery served as critical proof of concept for Latin Metals.

The recent mapping of additional outcropping copper mineralization builds upon this success, reinforcing the validity of the company's exploration thesis. Exploration at Mirador began last month and it is planned that the property will be systematically covered by drainage sampling and prospecting. At this early stage, the company's geologists have only walked over approximately 10 per cent of this very large property, and so it is encouraging to have already located additional outcropping copper mineralization.

In addition to the advancements at Mirador, Latin Metals is pleased to report the acquisition of a 100-per-cent interest in the Ventana copper project through an agreement with Dreston SRL (DSRL), pursuant to which Latin Metals has purchased from DSRL (through an indirect subsidiary of Latin Metals), a 100-per-cent interest in the project, for total cash consideration of one million Argentine pesos. Situated in Salta province, northwest Argentina, the Ventana project presents additional prospects for the discovery of sediment-hosted copper mineralization.

Together with the company's Mirador project, and the recent acquisition of the Solario project, this additional acquisition further solidifies Latin Metals' position as first mover in this emerging copper belt.

On June 19, 2023, Latin Metals Inc. has provided an update on exploration at the Cerro Bayo project, located in the Deseado Massif, Santa Cruz province, Argentina. Cerro Bayo is subject to an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corp. Under the terms of the earn-in agreement, Barrick has the right to acquire up to an 85-per-cent interest in the project.

Exploration update and planned work: Exploration completed by Barrick in the first year of the earn-in agreement has identified a preserved low-sulphidation epithermal system and included:

• Geological and alteration mapping;
• Structural mapping;
• 1,000-line-kilometre ground magnetic survey;
• 759 rock chip samples;
• 100 rock channel samples.

On June 13, 2023, Latin Metals Inc. has received positive results from rock sampling completed at the 100-per-cent-owned Tillo copper project in Peru. The project is prospective for copper porphyry deposits, as demonstrated by previous soil and talus sampling, which delineated an anomalous area of 2,500-metre-by-1,000-metre (previous news release dated Jan. 30, 2023). Positive results from 140 rock samples add a great deal of confidence in this priority area. Tillo Project Highlights

• Priority Geochemical Target: Soil and talus sampling completed earlier this year defined an area of 2.5km by 1.0km area of consistent geochemical anomalism.
• Rock Sampling Support: Results of rock sampling within the anomalous area provide good support for the target. Of 140 samples collected, 24 samples (17%) grade more than 0.2% copper, with a maximum grade of 5.9% copper and 421 ppm molybdenum.
• The Right Rocks: Mapping has delineated a quartz monzonite porphyry rock unit with potassic alteration and multiple generations of veining.
• Planned Exploration: Detailed mapping will continue within the anomalous area to outline vein density and vector towards potential centers of mineralization. A hyperspectral study will be carried out and used to help prioritize targets within the extensive geochemical anomaly.

On June 05, 2023, Latin Metals Inc. has entered into an agreement with Geoterra SRL pursuant to which Latin Metals has purchased from Geoterra (through an indirect subsidiary of Latin Metals) a 100-per-cent interest in the Solario copper project for total cash consideration of $1-million Argentine pesos. The Solario project, located in Salta Province ("Salta"), northwest Argentina, is prospective for sediment-hosted copper deposits within the Cretaceous belt in central Salta. This strategic acquisition further solidifies Latin Metals' position as a pioneer in sediment-hosted copper exploration in northwest Argentina.

April 24, 2023, Latin Metals Completes Magnetic Survey and Reports Progress at Auquis Project, Peru

https://latin-metals.com/news-releases/

April 4, 2023, Latin Metals Discovers New Copper Porphyry and Skarn Mineralization at Auquis, Peru

https://latin-metals.com/news-releases/latin-metals-discovers-new-copper-porphyry-and-skarn-mineralization-at-auquis-peru/

March 6, 2023, Latin Metals Provides Update on Anglogold Ashanti Exploration Activities

https://latin-metals.com/news-releases/latin-metals-provides-update-on-anglogold-ashanti-exploration-activities-drill-permit-application-submitted-for-up-to-11-900m/

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