Peruvian Metals Corp. Closes Sale of the Maria Norte Ag-Au-Pb-Zn to Rio Silver Inc.

Edmonton, December 15, 2025 - Peruvian Metals Corp. (TSXV: PER) (the "Company" or "Peruvian Metals") announces that, following regulatory approval, the closing of the previously-announced transaction (the "Transaction") with Rio Silver Inc. ("Rio Silver") (TSXV: RYO) to sell 100% of the issued and outstanding common shares of Mamaniña Exploraciones S.A.C. (the "Subsidiary"), a Peruvian corporation, which holds mining rights in the Maria Norte project (the "Maria Norte Property") located in Peru. The details and the terms of the Transaction are summarized in the Company's previous press releases on March 26 and October 28, 2025.

Pursuant to the terms of the Transaction, on closing, Rio Silver has acquired from Peruvian 100% of the issued and outstanding common shares of the Subsidiary. In consideration, Rio Silver issued to Peruvian 3,999,999 common shares of the Company, representing 9.27 of the Company's issued and outstanding share capital and in addition, Rio Silver will be paying an aggregate of US$250,000 by making semi-annual payments to Peruvian over a period of five years commencing on June 15, 2025.

Jeffrey Reeder, CEO and Chairman of Peruvian Metals, commented: "We are very pleased to have completed the transaction with Rio Silver. Peruvian Metals now has significant interest in Rio Silver and will indirectly benefit from any exploration or development success. Management has over 30 years of successful exploration experience in Peru and has generated internally several projects that has attracted major mining companies such as Rio Tinto, First Quantum, Rio Alto, IAM Gold and Mexican miner Industrias Peñoles. The Company will continue to focus the Company's direction into the Peruvian gold and silver space in Northern Peru with our Palta Dorada, Yanayco and Minas Vizca projects while enjoying positive cash flow from our Aguila Norte Processing Plant. Peruvian Metal shareholder's will continue to benefit from our Company's ability to identify and acquire prospective mineral projects throughout the country."

Qualified Person

Jeffrey Reeder, P. Geo., is the Qualified Person, as defined in National Instrument 43-101, who has reviewed and approved the technical contents of this release.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level. The Company continues to acquire and develop precious and base metal properties in Peru.

ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder

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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

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