Alcon Silver Announces Shareholder Approval of Arrangement

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2026) - Alcon Silver Corp. ("Alcon") and Mexican Gold Mining Corp. (TSXV: MEX) ("Mexican Gold") announce that, in connection with the previously announced arrangement agreement dated April 8, 2026 between Mexican Gold and Alcon (the "Arrangement Agreement"), shareholders of Alcon have approved the plan of arrangement (the "Arrangement") set out in the Arrangement Agreement by the requisite sixty-six and two-thirds (66 2/3) majority of shareholders and debenture holders of Alcon (voting as a single class) that voted at Alcon's annual general and special meeting (the "Meeting"), which took place on July 3, 2026.

Alcon will now proceed to apply for a final court order approving the Arrangement (the "Final Order"). Alcon expects the application for the Final Order will be scheduled for July 8, 2026 at 9:45 a.m. (Vancouver time) at the Supreme Court of British Columbia at 800 Smithe Street, Vancouver, British Columbia, or as soon thereafter as counsel may be heard. If the Final Order is granted, Alcon and Mexican Gold will proceed to close the Arrangement, which closing date is expected to be on or about July 15, 2026, or at such other date as the parties may agree.

Additional Information

Copies of the Arrangement Agreement and the Interim Loan Agreement have been filed on SEDAR+ and are available for viewing under each of Alcon and Mexican Gold's profiles at www.sedarplus.ca.

About Mexican Gold Mining Corp.

Mexican Gold is a Canadian-based mineral exploration and development company committed to building long term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas. Mexican Gold is exploring and advancing the Las Minas Project, which is located in the core of the Las Minas mining district in Veracruz State, Mexico, and host to one of the newest, under-explored skarn systems known in Mexico. Mexican Gold recently expanded its land package by acquiring the adjacent Tatatila claims from Chesapeake Gold.

About Alcon Silver Corp.

Alcon Silver Corp is a private silver explorer focused on advancing its 100% owned Princesa Silver-Polymetallic Project in the Puno-Cusco Mining District, Peru, and its Star Silver-Polymetallic Project in the historic Beaver Mining District south of Milford, Utah.

For Further Information

Mexican Gold Mining Corp.

Jack Campbell - CEO and Chairman
E-mail: [email protected]
Website: www.mexicangold.ca

Alcon Silver Corp.

Robert Tyson - CEO and President
Email: [email protected]
Website: www.alconsilver.com

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 release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information in this news release includes, but is not limited to, statements regarding: the anticipated completion of the Arrangement; the receipt of all required shareholder, court, regulatory and stock exchange approvals, including acceptance of the TSX Venture Exchange; the expected timing for completion of the Arrangement and related transactions; and the anticipated business, plans and prospects of Mexican Gold following completion of the Arrangement.

Forward-looking information is based on assumptions that management considers reasonable as of the date of this news release, including assumptions regarding: the ability of Mexican Gold and Alcon to obtain all required approvals on acceptable terms and within expected timelines; the ability of the parties to satisfy or waive the conditions to completion of the Arrangement; and the absence of material adverse changes affecting Mexican Gold, Alcon or their respective businesses, assets or capital markets generally.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the risk that required shareholder, court, regulatory or stock exchange approvals may not be obtained; the risk that the Arrangement may not be completed on the terms currently proposed or at all; risks associated with changes in market conditions, investor demand, commodity prices and securities markets; risks inherent in the mineral exploration industry; and the risk factors described in Mexican Gold's public disclosure documents available under Mexican Gold's profile on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof, and neither Mexican Gold nor Alcon undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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