Atlantico Energy Metals Corp. Announces Closing of Amalgamation Transaction and Conditional Approval for Listing on the CSE

West Vancouver, British Columbia--(Newsfile Corp. - May 29, 2026) - Atlantico Energy Metals Corp. (formerly Magnum Goldcorp Inc.) (the "Company" or "Atlantico") is pleased to announce that further to its press releases dated June 23, 2025, October 28, 2025, January 15, 2026 and March 27, 2026 it has closed the acquisition of Atlantico Energy Metals Corp. (the "Target") and acquired all of the outstanding shares of the Target (the "Transaction"). In addition, the Company has received conditional approval to list on the Canadian Securities Exchange (the "CSE"). Subject to final approval of the CSE, the Company anticipates that the Company's shares will commence trading on the CSE within two trading days following the CSE's final approval of the Company's Listing Statement.

The Transaction

Pursuant to the terms of the amalgamation agreement dated October 27, 2025, as amended, (the "Amalgamation Agreement"), the Company has acquired all of the outstanding shares in the capital of the Target (the "Target Shares") which were issued and outstanding immediately prior to the closing of the Transaction (the "Closing") in consideration for units of the Company (each a "Consideration Unit") at a deemed price equal to $0.10 per Consideration Unit. Each Consideration Unit consists of one common share in the capital of the Company (each a "Share") and one transferable warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire an additional Share at a price of $0.15 for a period of 24 months from the date of Closing (the "Closing Date"). The Company issued a total of 46,331,276 Consideration Units to complete the Transaction and a total of 500,500 replacement broker warrants which entitle the holder to acquire one additional Share at a price of $0.15 until December 18, 2027. Following closing of the Transaction, the Company has issued and outstanding a total of 55,341,787 common shares, 51,739,276 warrants, including 500,500 broker warrants, and 400,000 incentive stock options. An aggregate of 5,883,125 shares and 5,631,250 warrants held by principals will be subject to escrow pursuant to CSE policies with such securities being released as to 10% on the listing date and 15% being released every 6 months thereafter until 36 months from the listing date. An aggregate of 1,000,100 shares are also subject to escrow pursuant to CSE policies and will be released, subject to CSE approval, no earlier than ten days following the public announcement by the Company of the results of the phase one work program planned by the Company on its Novo Cruzeiro Property.

Prior to Closing, the Target completed a private placement in tranches raising aggregate gross proceeds of $1,378,000 (the "Offering") by issuing 13,780,000 Target Shares (the "Target Financing Shares") at a price of $0.10 per Target Financing Share. The proceeds of the Offering will be used for transaction expenses, exploration expenses, investor relations and marketing expenses, and general and administrative expenses.

Pursuant to the Transaction, the Company has changed its name (the "Name Change") from Magnum Goldcorp Inc. to Atlantico Energy Metals Corp. The company resulting from the amalgamation of 1560788 B.C. Ltd. and the Target is named 1592794 B.C. Ltd.

Furthermore, the Company has received conditional CSE approval to list its common shares on the CSE and under the symbol "ATLA". Subject to receipt of final approval from the CSE, the Company anticipates trading will commence on the CSE within two trading days following the CSE's final approval of the Company's Listing Statement. Following the Name Change, the Company's new CUSIP number is 04916K100 (ISIN: CA04916K1003).

Further details regarding the Transaction are expected to be provided in the Company's Listing Statement, which will be filed on the Company's SEDAR+ profile at www.sedarplus.ca in advance of Listing. Listing remains subject to final approval of the CSE.

Following completion of the Transaction, the Company's principal mineral property is the Novo Cruzeiro Project, located in northeastern Minas Gerais, Brazil. The Novo Cruzeiro Project comprises 15 contiguous exploration permits covering 24,387.28 hectares across the municipalities of Itaipé, Ladainha and Novo Cruzeiro.

The Company also holds the Juazeiro Project in Brazil's Lower São Francisco Valley along the Bahia-Pernambuco border. Novo Cruzeiro is the Company's current principal project.

For further information, please contact:

Bonn Smith, Chief Executive Officer
Tel: +1 (855) 258-6463
Email: info@atlantico.energy
Website: https://atlantico.energy

Cautionary Note

Investors are cautioned that, except as disclosed in the Listing Statement prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The Canadian Securities Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company and the Target do not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: (a) the business plans and capitalization of the Company following the Transaction and (b) the listing of the Company's shares on the CSE.

Such forward-looking statements are based on a number of assumptions of the management of the Target and the management of the Company, including, without limitation, that the Company's shares will be listed on the CSE, as anticipated.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation, that the CSE may not approve the listing of the Company's shares, the Company may not be able to execute its business plan in the manner described herein or in the listing statement, the Company may be adversely impacted by changes in legislation, changes in CSE policies, political instability, wars, global tariffs or general market conditions.

Such forward-looking information represents the best judgment of the management of the Company based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company, nor any of its representatives makes any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release.

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