Vancouver, B.C., July 3, 2025 – TheNewswire - Candelaria Mining Corp. (TSX-V: CAND, OTC PINK: CDELF) (“Candelaria” or the “Company”), is pleased to announce that it has fully resolved the enforcement proceedings with Goldgroup Mining Inc. (“Goldgroup”) pursuant to the previously announced agreement to suspend enforcement proceedings, dated March 6, 2025 (the “Agreement”) and entered into by the Company, Goldgroup and Minera Apolo, S.A. de C.V. (“Apolo”), a wholly-owned subsidiary of the Company which holds the Company’s interests in the Pinos Project. The enforcement proceedings were related to the default under the medium-term loan facility (the “Loan Facility”) originally provided by Accendo Banco, S.A., Institución de Banca Múltiple, which was subsequently transferred to Goldgroup.

Under the terms of the Agreement, Candelaria transferred all of the outstanding shares of Apolo (the “Apolo Shares”) to Goldgroup, resulting in a disposition of the Company’s interests in the Pinos Project (the “Transaction”). The Transaction constituted full and final satisfaction of the Loan Facility, and all claims against Candelaria related to the Loan Facility have been released. As additional consideration, Goldgroup issued 716,667 shares to the Company and provided a cash payment of US$89,000. Goldgroup will provide another cash payment of US$89,000 to the Company within six months after receiving the TSX Venture Exchange’s (the “TSXV”) final approval of the Transaction, being no later than January 7, 2026.

In connection with the completion of the Transaction, the Company’s listing will be transferred to the NEX Board of the TSXV (“NEX”) and the Company’s common shares are expected to commence trading on NEX effective July 9, 2025.

On Behalf of Candelaria

Héctor Félix González Ramirez  

CEO and Director

For further information, please contact:  

Omar García Abrego

CFO

+1 (604) 369-2928 | info@candelariamining.com

FORWARD-LOOKING STATEMENTS

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Candelaria believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Candelaria. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Candelaria's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Candelaria cautions that the foregoing list of material factors is not exhaustive. When relying on Candelaria's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Candelaria has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Candelaria as of the date of this press release and, accordingly, are subject to change after such date. Candelaria does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 press release.