Mining Americas Provides Updates on Growth Portfolio of Gold Projects TMX Newsfile Mon, November 9, 2026 at 4:30 PM EST 11 min read MAI.TO +3.05% GC=F +1.93% MAIFF +2.98% Toronto, Ontario--(Newsfile Corp. - November 9, 2026) - Mining Americas Inc. (TSX: MAI) (OTCQX: MAIFF) ("Mining Americas" or the "Company") is pleased to provide a progress update on its growth projects. These include the Copperstone underground project in Arizona, the Gold Rock open pit project in Nevada, the Cerro de Oro open pit project in Zacatecas State, Mexico, and the Santana open pit mine in Sonora State, Mexico. All amounts are presented in U.S. dollars unless otherwise stated.
Mining Americas CEO, Darren Blasutti, commented, "We are making significant progress on all our growth projects. At the Copperstone underground project in construction, we recently mobilized the underground mining contractor to commence rehabilitation and development work. The grinding circuit equipment passed inspections and is cleared for installation in the process plant. Engineering work has now advanced to enable major equipment procurement packages to be completed. Early works are progressing at the fully permitted Gold Rock project, including upgrading the road from Pan to Gold Rock, site preparation, and ordering new liner for leach pad and pond construction. We anticipate incorporating an updated resource estimate for Gold Rock into the overall Pan Operating Complex as well an initial estimate of gold mineralization at Copperstone potentially accessible via open pit mining — both planned for Q4 2026. At Cerro de Oro, which received major permits in Q3 2026, we continue to progress towards a construction decision, with an updated resource estimate planned for the first half of 2027 and a pre-feasibility study planned in the second half of 2027. We are proud to be advancing what we see as an unrivalled pipeline of high return, low capital intensity, permitted growth projects with the goal of becoming a U.S. focused intermediate gold producer."
Copperstone Project On May 27, 2026, the Company announced the results of a pre-feasibility study ("PFS") on the Copperstone underground project, with a concurrent positive construction decision by the Company's board of directors. The Project continues to have an excellent safety record, with zero reportable injuries or incidents to date. During Q3 2026 and recently, project activities at Copperstone include:
Process Plant & Infrastructure:
Engineering progressed to award major process plant vendor procurement packages;
Major grinding mill rehabilitation was completed during the quarter and a new variable frequency drive and motor was secured;
Removal of the old grinding circuit was completed, and new civil/concrete works have been initiated;
Construction support team has been expanded with additional key personnel in place to maintain timely progress during the major construction phase;
Completed electrical upgrades and rewiring of existing crushing and screening equipment;
Upgrading of site assay lab continuing, with new equipment on site for installation;
Painting and restoration of the crusher, catwalks, handrails and guarding continuing;
Figure 1: Ball mill components tested and cleared for installation in process plant
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Underground Mine & Site Readiness:
The Company selected Small Mine Development, LLC ("SMD") as its underground mining contractor. Planning with SMD has progressed on detailed work schedules, workforce and equipment mobilization, as well as mining activity startup requirements;
Delivery of first phase of underground mobile equipment has begun in advance of full development and pre-production construction;
Underground mine rehabilitation and preparation has commenced, with first new development rounds recently blasted and mined;
Surface equipment maintenance shop is prepped for contractor and company use;
Dedicated laydown and storage area at the underground west portal was completed;
Figure 2: Mobile equipment deliveries to site and crushing circuit refurbishment
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Figure 3: Underground face inspection (left) and development mining (right)
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Historic surface open pit mining by Cyprus Minerals was suspended when gold price dropped below $350/oz; a new compilation of all of the historic drill information shows the presence of extensions of the surface gold mineralization that are being considered for potential open pit heap leach mining in the current gold price environment.
Completed four surface exploration drill holes in Q3 2026, with drilling planned to continue and be expanded into the first half of 2027;
Surface drilling is initially targeting expanding areas of known near-surface oxide gold mineralization, to be followed by deeper zones related to the underground project currently in construction;
The Company is progressing towards releasing a mineral resource estimate for the Copperstone open pit project in Q4 2026 based on the existing resource models for the project.
Figure 4: Surface exploration drill rig on the rim of the historic Cyprus open pit
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The Company is pleased to confirm that recruitment for key project positions also continues, with the recent addition (Q3 2026) of the Site General Manager, Engineering Manager, Capital and Cost Control Manager, Accounts Payable Accountant, and Controller.
The Company will include an update with respect to spending on the Copperstone project to date in its Q3 2026 report, scheduled to be released before market open on Monday, November 16, 2026, with a conference call set to follow at 11:00 AM Eastern Time.
Conference Call Details:North American callers please dial: +1-800-715-9871International callers please dial: +1-647-932-3411Webcast: https://www.gowebcasting.com/15173
Gold Rock Project The Gold Rock project is a fully permitted open pit, heap leach gold development project approximately 12 kilometres southeast from the Pan mine. Together, these assets are referred to as the Pan Operating Complex ("POC"). In Q3 2026 and currently, work continues to progress on mine development studies and designs for the planned new leach pad and gold recovery facilities at Gold Rock.
Early works on the Gold Rock project in Q3 2026 and recently include:
Upgrades of the road from Pan to Gold Rock are largely complete;
Liner for new heap leach pad and ponds at Gold Rock has been ordered;
A Company-owned crusher for the Gold Rock project is currently being refurbished, with completion anticipated in early 2027;
Gold Rock mine area security fence has been completed;
Concurrent with the work on the updated MRE at Gold Rock, the Company is evaluating mining restart scenarios with the focus on identifying an optimal starter pit area proximal to the existing open pit. The goal of the early planning work is to minimize capitalized pre-stripping requirements at Gold Rock prior to the start of stacking and heap leaching activities later in 2027.
The Company has placed an order for 100-ton haul trucks to be used to remove historic heap leach pad material from the Gold Rock site to the heap leach pad at Pan for additional residual gold recovery during Gold Rock construction in 2027. The historic heap leach pad at Gold Rock must eventually be rehandled and relocated as it is on trend with the new resource pit shells.
Cerro de Oro ProjectCerro de Oro is a planned open pit, heap-leach gold project in northern Zacatecas State, Mexico. On September 3, 2026, the Company announced that the Mexican Federal Environmental Department ("SEMARNAT") approved the key permits required for the Cerro de Oro project. Specifically, SEMARNAT approved the land use change ("ETJ-CUS") and the environmental impact assessment ("MIA") for Cerro de Oro. The Company subsequently began planning for the advancement of Cerro de Oro towards a construction decision, including additional drilling, detailed engineering and mine designs, and the progression of ancillary permits and approvals.
The most recent technical report on the Cerro de Oro project was completed in 2023 (NI 43-101 Technical Report titled "Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Project" dated January 5, 2023). The MRE was estimated using a gold price of $1,700 per ounce and consisted of a pit-constrained, inferred resource of 67 million tonnes at an average grade of 0.37 grams per tonne for a total of 790,000 ounces of gold.
In the first half of 2027, the Company anticipates releasing an updated MRE for Cerro de Oro which will incorporate higher gold prices than the $1,700 per ounce used previously. This is expected to enable a lowering of the cut-off grade and provide an overall increase of contained gold ounces. In addition, the Company has successfully surveyed the locations of various historic drill holes from the 1990's which is anticipated to enable the conversion of a significant amount of existing inferred resources to the indicated category. In the second half of 2027, the Company anticipates completing a pre-feasibility study for the Cerro de Oro project, ahead of a potential construction decision.
Santana ProjectThe Company's 100%-owned Santana project is an open pit, heap leach gold mine located in Sonora State, Mexico. Initial gold production at Santana started in 2021, with mining and leaching subsequently put on hold in 2025 while the Company awaited permits for expanding the heap leaching area.
In recent months, the Company, in coordination with its permitting consultants, has been making progress with SEMARNAT on progressing the expanded permit applications. In addition, new water rights have been granted to the Company which further de-risk a production restart decision at the Santana project.
The Company has also advanced various metallurgical studies and testwork designed to investigate the leachability of sulphide-bearing gold mineralization at greater depths at Santana. Initial results have yielded encouraging recoveries to date. The Company anticipates releasing the metallurgical results in the first half of 2027.
Tests were initiated in Q3 2026 to investigate options for the potential re-leaching of the existing heap leach pad at Santana. Early efforts are aimed at achieving more complete solution saturation in various areas on the pad.
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Darren Koningen, P.Eng., the Company's President & COO, who is the Qualified Person under National Instrument 43-101.
Mining Americas Inc. is a growing North American gold production and development company with projects in Nevada, Arizona, and Mexico. The Company owns the Pan Operating Complex in White Pine County, Nevada, comprised of the producing Pan mine and the adjacent permitted Gold Rock project.
The Company also owns the Copperstone project in La Paz County, Arizona, an underground gold project currently in construction. The Company maintains a portfolio of high-quality Mexican assets, including the Cerro de Oro project, a permitted open pit heap leach gold development project in northern Zacatecas.
The Company's strategy is to become a leading, U.S.-focused intermediate gold producer by growing production at its Pan Operating Complex and developing its pipeline of permitted, low-capital projects while expanding gold resources across its portfolio.
For Further Information Please Contact:
Darren Blasutti, CEO416-306-0990 ext 208dblasutti@miningamericas.gold
David Stewart, VP Corporate Development & Capital Markets+1-647-294-8361dstewart@miningamericas.gold
Caution Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All information herein, other than information of historical fact, constitutes forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements contained in this press release include statements regarding: the items set out in the Company's 2026 Outlook, production and cost guidance for 2026, project studies and development milestones at the Copperstone project, Gold Rock project, Cerro de Oro project, and Santana project. This information is based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations.
The forward-looking information is based on assumptions and addresses future events and conditions that, by their very nature involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in forward-looking information for many reasons. The Company's financial condition and prospects could differ materially from those currently anticipated in forward-looking information for many reasons such as: an inability to receive requisite permits for mine operation, exploration or expansion; an inability to finance and/or complete updated resource and reserve estimates and technical reports which support the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the Company's activities; and other matters discussed in this press release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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