Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

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Los Andes Copper (OTCQX: LSANF) announced it has elected to issue 16,853 common shares as payment for interest owing on three convertible debentures dated June 2, 2021, April 4, 2022 and September 2, 2022, representing US$104,994 (C$147,632) of interest.

The shares are issued at a deemed price of US$6.23 (C$8.76) per share under the debenture terms. The Convertible Debentures carry an 8% interest rate payable quarterly (5% cash and 3% in shares) calculated at the greater of the 20-day VWAP prior to the payment date or the TSX-V Discounted Market Price. The issuance remains subject to the debenture terms and receipt of all requisite approvals, including TSX-V approval.

Vancouver, British Columbia--(Newsfile Corp. - November 28, 2025) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that in accordance with the terms of the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued to Queen's Road Capital Investment Ltd. ("Queen's Road Capital") on June 2, 2021, April 4, 2022 and September 2, 2022 (the "Convertible Debentures"), the Company has elected to issue 16,853 common shares in the capital of the Company ("Common Shares") at a deemed price of US$6.23 (C$8.76) to Queen's Road Capital as payment for US$104,994 (C$147,632) in interest owing on the Convertible Debentures.

Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V")).

The issuance of the Common Shares as payment for interest owing on the Convertible Debentures is subject to the terms and conditions of the Convertible Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSX-V.

About Queen's Road Capital Investment Ltd.

Queen's Road Capital Investment Ltd. is a leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded resource companies.

It is intended that the company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.

Queen's Road Capital Investment Ltd. is listed on the TSX under the ticker: QRC.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.

The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR+ profile.

Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.

Qualified Persons

Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.

For more information, please contact:

Santiago Montt, CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450

Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
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Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information. Such Forward-Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276305

FAQ

What did Los Andes Copper (LSANF) announce on November 29, 2025 regarding interest payments?

Los Andes elected to issue 16,853 common shares to settle US$104,994 of interest owing on three convertible debentures.

How was the share price determined for Los Andes Copper's interest payment to Queen's Road Capital?

The shares were issued at a deemed price of US$6.23 (C$8.76) per share as specified under the debenture terms.

What are the interest terms on the convertible debentures referenced by Los Andes Copper (LSANF)?

The convertible debentures carry an 8% annual interest payable quarterly: 5% in cash and 3% in shares, using the greater of 20-day VWAP or the TSX-V Discounted Market Price.

Does the issuance of shares for interest payments require regulatory approval for LSANF?

Yes; the issuance is subject to the debenture terms and the receipt of all requisite approvals, including TSX-V approval.

Which convertible debentures were involved in Los Andes Copper's November 2025 interest share issuance?

The debentures issued to Queen's Road Capital on June 2, 2021, April 4, 2022, and September 2, 2022 were referenced.

How might the LSANF share issuance for interest affect existing shareholders?

The company issued new shares to satisfy interest; the announcement does not state total outstanding shares, so the exact dilution effect was not quantified.