Mineros S.A. unveils high-margin Porvenir polymetallic project in 2026 PFS
Mineros S.A. (TSX: MSA, OTC:MNSAF, BVC: MINEROS) ("Mineros" or the "Company") is pleased to announce the results of the updated prefeasibility study for the Hemco Property (the "2026 PFS") including its 100% owned Porvenir polymetallic project ("Porvenir Project" or "Porvenir") located within the Company's Hemco Property in northeastern Nicaragua. In addition, the Company has updated Mineral Resource and Mineral Reserve estimates as of December 31, 2025, for its operating Panama and Pioneer mines.
The 2026 PFS confirms Porvenir as a high-margin, stand-alone underground operation and the cornerstone of an emerging district including the Guillermina, Leticia, and San Antonio deposits.
Highlights: - Robust Economics: After-tax net present value, using a 5% discount rate ("NPV5%") of $460 million, after-tax internal rate of return ("IRR") of 37.9% and 2.0-years payback base case. - Strong Production Profile: Average annual sales of 72.3Koz AuEq, 54.5 Koz Au, 190 Koz Ag, 28 Mlb Zn and 3.75 Mlb Cu over years 1 to 9 (years of full production) of mine life. - Stand-alone operation: A 2,000 tonnes per day ("tpd") processing plant with associated infrastructure including tailing facility, power supply via dedicated 34.5 kV distribution line and wastewater treatment plant. - Optimized Flowsheet: Metallurgical testing has confirmed a process involving flotation and cyanidation, enabling the recovery of copper and zinc concentrates alongside gold-silver doré. - District Scale Potential: Updated Mineral Resource estimates for Porvenir, Guillermina, Leticia, and San Antonio reinforce a district-scale mineralized system centered on Porvenir infrastructure.
Daniel Henao, President and Chief Executive Officer of Mineros, commented: "Porvenir's economics are compelling, a $460 million NPV at a 5% discount, near 40% IRR, and 2-year payback speak for themselves. What excites us most is that Porvenir is just the beginning of a confirmed polymetallic district. Nearby deposits like Guillermina, Leticia, and San Antonio sit within striking distance of shared and scalable infrastructure, and we believe we are standing on a district that has the potential to grow Mineros' operations exponentially over the coming decade."
The 2026 PFS was managed by Mineros, completed by BISA Ingenieria de Proyectos S.A. of Lima, Peru ("BISA"), and reviewed by SLR. Both BISA and SLR are independent of Mineros.
