Candelaria Announces Completion of Disposition of Minera Apolo

(TheNewswire)

Vancouver, B.C.,July 3, 2025 – TheNewswire - Candelaria Mining Corp.(TSX-V: CAND, OTC PINK: CDELF) (“ Candelaria ” or the“ Company ”), is pleased toannounce that it has fully resolved the enforcement proceedings withGoldgroup Mining Inc. (“ Goldgroup ”) pursuant to the previously announced agreement to suspendenforcement 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 theCompany which holds the Company’s interests in the Pinos Project.The enforcement proceedings were related to the default under themedium-term loan facility (the “ LoanFacility ”) originallyprovided 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“ ApoloShares ”) to Goldgroup,resulting in a disposition of the Company’s interests in the PinosProject (the “ Transaction ”). The Transaction constituted full and final satisfaction of theLoan Facility, and all claims against Candelaria related to the LoanFacility have been released. As additional consideration, Goldgroupissued 716,667 shares to the Company and provided a cash payment ofUS$89,000. Goldgroup will provide another cash payment of US$89,000 tothe Company within six months after receiving the TSX VentureExchange’s (the “ TSXV ”)final approval of the Transaction, being no later than January 7,2026.

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

On Behalf ofCandelaria

Héctor Félix González Ramirez

CEO and Director

For further information, pleasecontact:

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 thenegative of these words or such variations thereon or comparableterminology are intended to identify forward-looking statements andinformation. Although Candelaria believes, in light of the experienceof their respective officers and directors, current conditions andexpected future developments and other factors that have beenconsidered appropriate, that the expectations reflected in theforward-looking statements and information in this press release arereasonable, undue reliance should not be placed on them because theparties can give no assurance that such statements will prove to becorrect. Such statements and information reflect the current view ofCandelaria. There are risks and uncertainties that may cause actualresults to differ materially from those contemplated in thoseforward-looking statements and information.

By their nature, forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause our actualresults, performance or achievements, or other future events, to bematerially different from any future results, performance orachievements expressed or implied by such forward-looking statements.There are a number of important factors that could cause Candelaria'sactual results to differ materially from those indicated or implied byforward-looking statements and information. Such factors include,among others: currency fluctuations; limited business history of theparties; disruptions or changes in the credit or security markets;results of operation activities and development of projects; projectcost overruns or unanticipated costs and expenses; and generaldevelopment, market and industry conditions. The parties undertake noobligation to comment on analyses, expectations or statements made bythird parties in respect of their securities or their respectivefinancial or operating results (as applicable).

Candelaria cautions that the foregoing list of material factors is notexhaustive. When relying on Candelaria's forward-looking statementsand information to make decisions, investors and others shouldcarefully consider the foregoing factors and other uncertainties andpotential events. Candelaria has assumed that the material factorsreferred to in the previous paragraph will not cause suchforward-looking statements and information to differ materially fromactual results or events. However, the list of these factors is notexhaustive and is subject to change and there can be no assurance thatsuch assumptions will reflect the actual outcome of such items orfactors. The forward-looking information contained in this pressrelease represents the expectations of Candelaria as of the date ofthis press release and, accordingly, are subject to change after suchdate. Candelaria does not undertake to update this information at anyparticular 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 pressrelease.

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