Candelaria Announces Resolution of Loan Facility Enforcement

(TheNewswire)

Vancouver, B.C. – TheNewswire - March 7, 2025 - Candelaria Mining Corp.(TSX-V: CAND, OTC PINK: CDELF) (“ Candelaria ” or the“ Company ”), is pleased to announce that it has reached an agreementwith Goldgroup Mining Inc. (“Goldgroup”) to fully resolve theenforcement proceedings related to the previously announced defaultunder the medium-term loan facility originally provided by AccendoBanco, S.A., Institución de Banca Múltiple, and which wassubsequently transferred to Goldgroup.

Under the terms of the agreement, signed on March 7,2025, Candelaria will transfer 780,571,140 shares which represent allof the issued and outstanding shares of its subsidiary, Minera Apolo,S.A. de C.V. (“Apolo”), to Goldgroup. The deemed value of theseshares is MXN$78,057,114 Mexican pesos. This transfer constitutes fulland final satisfaction of the loan facility.

In addition, Goldgroup has agreed to provide additionalconsideration to Candelaria, including cash payments and the issuanceof common shares as follows:

• A cash payment of US$89,000 within five days of receiptof all necessary approvals from the TSXV required by Goldgroup andCandelaria to complete the transaction;

• A cash payment of US$89,000 on the later of (i) thedelivery of the Apolo shares to Goldgroup, or (ii) six months afterreceipt of the TSXV approvals, provided that the Apolo shares havebeen delivered to Goldgroup by such date; and

• Issue 716,667 common shares of Goldgroup at a price of$0.30 per share to Candelaria.

Upon completion of the transaction, all claims againstCandelaria related to the loan facility will be released.

Hector Gonzalez, CEO of Candelaria commented: “T his resolution allows Candelaria tostrengthen its financial position and focus on future strategicopportunities while eliminating the financial obligations associatedwith the medium-term loan facility with Goldgroup”.

The agreement is subject to approval by the TSX VentureExchange (TSXV).

On Behalf of Candelaria

Héctor Félix González Ramirez

CEO and Director

For further information, please contact:

Omar García

CFO

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

FORWARD-LOOKING STATEMENTS

When used in this press release, thewords "estimate", "project", "belief","anticipate", "intend", "expect","plan", "predict", "may" or"should" and the negative 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. The forward-looking statements and information in this pressrelease include, amongst others, the terms, price, size, use ofproceeds, receipt of corporate and regulatory approvals and closing ofthe Offering. Such statements and information reflect the current viewof Candelaria. 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-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause our actual results, performance orachievements, or other future events, to be materially different fromany future results, performance or achievements expressed or impliedby such forward-looking statements. There are a number of importantfactors that could cause Candelaria's actual results to differmaterially from those indicated or implied by forward-lookingstatements 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 ofoperation activities and development of projects; project costoverruns or unanticipated costs and expenses; and general development,market and industry conditions. The parties undertake no obligation tocomment on analyses, expectations or statements made by third partiesin respect of their securities or their respective financial oroperating results (as applicable).

Candelaria cautions that theforegoing list of material factors is not exhaustive. When relying onCandelaria's forward-looking statements and information to makedecisions, investors and others should carefully consider theforegoing factors and other uncertainties and potential events.Candelaria has assumed that the material factors referred to in theprevious paragraph will not cause such forward-looking statements andinformation to differ materially from actual results or events.However, the list of these factors is not exhaustive and is subject tochange and there can be no assurance that such assumptions willreflect the actual outcome of such items or factors. Theforward-looking information contained in this press release representsthe expectations of Candelaria as of the date of this press releaseand, accordingly, are subject to change after such date. Candelariadoes not undertake to update this information at any particular timeexcept as required in accordance with applicable laws.

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this press release.

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