Mineros Reports Strong Q3 2026 Gold Production of 62,565 Ounces; Raises Full-Year Guidance to 235,000-245,000 Ounces

Higher production guidance follows operating improvements at both properties, while Nechí has gold in transit awaiting sale.

Rhea-AI Summary

Mineros (MNSAF) produced 62,565 troy ounces of gold in Q3 2026 and raised its full-year gold production guidance. Quarterly production rose 14.0% year over year; nine-month output increased 11.3% to 181,466 ounces. Guidance rose to 235,000–245,000 ounces from 220,000–240,000 ounces, the second increase this year.

Hemco produced 38,010 ounces in the quarter, up 18.5%, while Nechí produced 24,555 ounces, up 7.8%. Consolidated gold sales increased 11.7% to 61,281 ounces. Hemco held stockpiles containing approximately 18,856 ounces of gold at September 30. Nechí had 1,585 ounces in transit pending sale following the introduction of concentrate handling. Property guidance increased to 148,000–152,000 ounces for Hemco and 87,000–93,000 ounces for Nechí. These results are preliminary; full financial statements, including final revenue, realized prices and unit costs, will be released November 11, 2026.

22 points · 1 major

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0 major · 11 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Full-year 2026 gold guidance raised to 235,000–245,000 ounces from 220,000–240,000 ounces.
• Moderate pointConsolidated gold production rose 14.0% to 62,565 troy ounces in Q3 2026 versus Q3 2025.
• Moderate pointConsolidated gold sales rose 11.7% to 61,281 troy ounces in Q3 2026 year over year.
• Minor point. Forward-looking: it has not happened yet and may not happen.Hemco 2026 gold guidance raised to 148,000–152,000 ounces from 137,000–147,000 ounces.
• Minor point. Forward-looking: it has not happened yet and may not happen.Nechí 2026 gold guidance raised to 87,000–93,000 ounces from 83,000–93,000 ounces.

17 minor points

• Minor pointConsolidated nine-month gold production rose 11.3% to 181,466 troy ounces versus the corresponding 2025 period.
• Minor pointHemco purchased-ore gold production rose 22.7% to 32,511 troy ounces in Q3 2026 year over year.
• Minor pointHemco purchased-ore nine-month gold production rose 24.1% to 96,134 troy ounces year over year.
• Minor pointNechí gold production rose 7.8% to 24,555 troy ounces in Q3 2026 year over year.
• Minor pointNechí nine-month gold production rose 0.4% to 67,122 troy ounces year over year.
• Minor pointHemco silver production rose 78.0% to 174,506 troy ounces in Q3 2026 year over year.
• Minor pointHemco nine-month silver production rose 112.6% to 514,215 troy ounces year over year.
• Minor pointConsolidated nine-month gold sales rose 9.7% to 178,770 troy ounces year over year.
• Minor pointGold-equivalent sales rose 15.0% to 64,544 troy ounces in Q3 2026 year over year.
• Minor pointNine-month gold-equivalent sales rose 12.9% to 187,177 troy ounces year over year.
• Minor pointHemco purchased-ore gold sales rose 23.5% to 32,717 troy ounces in Q3 2026 year over year.
• Minor pointHemco purchased-ore nine-month gold sales rose 22.9% to 95,229 troy ounces year over year.
• Minor pointNechí Q3 2026 gold sales rose 1.6% to 23,146 troy ounces year over year.
• Minor pointHemco silver sales rose 114.6% to 210,380 troy ounces in Q3 2026 year over year.
• Minor pointHemco nine-month silver sales rose 114.5% to 518,849 troy ounces year over year.
• Minor pointHemco September 30 stockpiles held approximately 18,856 troy ounces of gold for future processing.
• Minor pointHemco plant optimization and expansion work continued during Q3 2026.

Negative

• Minor pointReported Q3 2026 financial and operating results are preliminary.
• Minor pointNechí held 1,585 troy ounces of gold in transit at September 30, 2026, pending sale.
• Minor pointNechí nine-month gold sales fell 2.0% to 65,537 troy ounces year over year.
• Minor pointHemco industrial gold production fell 1.4% to 5,499 troy ounces in Q3 2026 year over year.
• Minor pointHemco industrial nine-month gold production fell 2.3% to 18,211 troy ounces year over year.

6 minor points

• Minor pointHemco industrial gold sales fell 2.9% to 5,418 troy ounces in Q3 2026 year over year.
• Minor pointHemco industrial nine-month gold sales fell 3.4% to 18,005 troy ounces year over year.
• Minor pointNechí silver production fell 56.4% to 932 troy ounces in Q3 2026 year over year.
• Minor pointNechí nine-month silver production fell 21.4% to 4,908 troy ounces year over year.
• Minor pointNechí silver sales fell 55.8% to 928 troy ounces in Q3 2026 year over year.
• Minor pointNechí nine-month silver sales fell 21.4% to 4,903 troy ounces year over year.

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MEDELLÍN, Colombia, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Mineros S.A. (TSX: MSA; BVC: MINEROS; OTCQX: MNSAF) (“Mineros” or the “Company”) reports gold and silver production and sales for the three months (“Q3 2026”) and nine months (“F9M 2026”) ended September 30, 2026. All metal volumes are stated in troy ounces, and percentage changes are measured against the corresponding periods of 2025 unless otherwise noted.

Daniel Henao, President and CEO, commented: “The growth recorded at Hemco and Nechí reflects sustained work to improve operating performance across the portfolio. At Hemco, we delivered higher gold output and built ore inventories for future processing as optimization and expansion work continued. At Nechí, improvements in gold recovery supported higher production. The consistency of these results gives us the confidence to raise our 2026 gold production guidance for the second time this year, to 235,000 to 245,000 ounces, while remaining focused on disciplined investment.”

Q3 2026 Highlights

Consolidated gold production of 62,565 ounces in Q3 2026, up 14.0% year-over-year; F9M 2026 production of 181,466 ounces, up 11.3%.

Gold sales of 61,281 ounces in Q3 2026 (+11.7%); gold equivalent (“AuEq”¹) sales of 64,544 ounces (+15.0%).

Hemco gold production of 38,010 ounces in Q3 2026, up 18.5%; F9M 2026 Hemco production of 114,344 ounces, up 19.0%.

Nechí gold production of 24,555 ounces in Q3 2026, up 7.8%, due to improved gold recovery in the systems.

Full-year 2026 gold production guidance raised to 235,000–245,000 ounces (from 220,000–240,000 ounces). By property, guidance for the Nechí Property (Colombia) is revised to 87,000–93,000 ounces (from 83,000–93,000 ounces), and guidance for the Hemco Property (Nicaragua) is revised to 148,000–152,000 ounces (from 137,000–147,000 ounces).

Operational Review

Hemco Property, Nicaragua

Higher-grade ore, together with continued plant optimization and expansion work, underpinned Hemco’s production growth. Gold production increased 18.5% to 38,010 ounces in Q3 2026, bringing F9M 2026 production to 114,344 ounces, up 19.0%.

At September 30, stockpiles totaled 121,864 metric tons containing approximately 18,856 ounces of gold, providing additional ore for future processing and subsequent gold sales.

Hemco gold sales increased 18.9% to 38,135 ounces, while silver sales increased 114.6% to 210,380 ounces.

Nechí Property, Colombia

Improved gold recovery was the principal driver of Nechí’s production growth in the quarter. Gold production increased 7.8% to 24,555 ounces in Q3 2026, compared with 22,783 ounces in Q3 2025. Nechí gold sales increased 1.6% to 23,146 ounces, trailing production growth as a result of the introduction of concentrate handling², under which the Company had 1,585 ounces of Nechí gold in transit at September 30, 2026, pending sale.

Table 1 — Gold and Silver Production by Operation
All volumes are in troy ounces (oz). 9M: nine months ended September 30. Changes compare 2026 with the corresponding 2025 period; parentheses indicate decreases.

Operation / metric	Q3 2026	Q3 2025	Change		9M 2026	9M 2025	Change
Nechí Property (Colombia)
Gold produced (oz)	24,555	22,783	7.8	%	67,122	66,886	0.4	%
Silver produced (oz)	932	2,136	(56.4	%)	4,908	6,241	(21.4	%)
Hemco Property (Nicaragua)
Gold — Industrial (oz)	5,499	5,578	(1.4	%)	18,211	18,647	(2.3	%)
Gold — BMP3(oz)	32,511	26,501	22.7	%	96,134	77,478	24.1	%
Total Hemco gold (oz)	38,010	32,079	18.5	%	114,344	96,126	19.0	%
Total Hemco silver (oz)	174,506	98,023	78.0	%	514,215	241,910	112.6	%
Consolidated — Nechí + Hemco
Total gold produced (oz)	62,565	54,862	14.0	%	181,466	163,011	11.3	%

Table 2 — Gold and Silver Sales by Operation

Operation / metric	Q3 2026	Q3 2025	Change		9M 2026	9M 2025	Change
Nechí Property (Colombia)
Gold sold (oz)	23,146	22,783	1.6	%	65,537	66,886	(2.0	%)
Silver sold (oz)	928	2,097	(55.8	%)	4,903	6,241	(21.4	%)
Hemco Property (Nicaragua)
Gold — Industrial (oz)	5,418	5,578	(2.9	%)	18,005	18,647	(3.4	%)
Gold — BMP (oz)	32,717	26,501	23.5	%	95,229	77,478	22.9	%
Total Hemco gold (oz)	38,135	32,079	18.9	%	113,233	96,126	17.8	%
Total Hemco silver (oz)	210,380	98,023	114.6	%	518,849	241,910	114.5	%
Consolidated — Nechí + Hemco
Total gold sold (oz)	61,281	54,862	11.7	%	178,770	163,011	9.7	%
AuEq sold (oz)	64,544	56,108	15.0	%	187,177	165,861	12.9	%

Starting in Q3 2026, the Company expanded its reporting to provide separate production and sales figures. Table 1 shows gold and silver production and Table 2 presents sales of gold and silver, this breakdown was not undertaken in previous quarters.

Updated 2026 Production Guidance

Mineros is raising its full-year 2026 consolidated gold production guidance to 235,000 to 245,000 ounces, from 220,000 to 240,000 ounces. This is the second increase to 2026 guidance this year, following the July increase from 213,000–233,000 to 220,000–240,000 ounces. The revised range reflects the results of operational improvements at both properties. By property, guidance for the Nechí Property (Colombia) is revised to 87,000 to 93,000 ounces, from 83,000 to 93,000 ounces previously, and guidance for the Hemco Property (Nicaragua) is revised to 148,000 to 152,000 ounces, from 137,000 to 147,000 ounces previously.

Expected Release of Full Q3 2026 Financial Results

The financial and operating results reported in this news release are preliminary. Mineros will release its full Q3 2026 financial statements and Management’s Discussion and Analysis, including final gold and silver revenue, realized prices and unit costs, on November 11, 2026. Readers are encouraged to review the complete financial disclosure once available.

About Mineros S.A.

Mineros is a leading Latin American gold producer headquartered in Medellín, Colombia. The Company benefits from a diversified asset portfolio, encompassing operating mines in Colombia and Nicaragua, alongside a pipeline of development and exploration projects located throughout the region, including the Porvenir development asset in Nicaragua, the La Pepa Project in Chile and the Tolima Project in Colombia.

With an operating history spanning over 50 years, Mineros is defined by a commitment to safety, sustainability, and disciplined capital allocation. Its common shares are listed on the Toronto Stock Exchange (MSA) and the Colombia Stock Exchange (MINEROS), and trade on the OTCQX® Best Market under the symbol MNSAF.

For Further Information
Ann Wilkinson | Vice President, Investor Relations
+1 (647) 496-3011 | Ann.Wilkinson@Mineros.com.co
Juan Camilo Obando | Director, Investor Relations
(+57) 604 266 5757 | Juan.Obando@Mineros.com.co

Forward-Looking Statements

This news release contains forward-looking information under applicable Canadian securities laws, including the Company’s revised 2026 gold production guidance and the fourth-quarter production levels assumed in that revision, ongoing expansion work at Hemco, future processing of ore stockpiles and subsequent gold sales, and expected benefits from operational improvements and capacity investments. Such information reflects management’s expectations as of the date of this release and is subject to risks and uncertainties that could cause actual results to differ materially.

These expectations assume continued operating availability, access to ore feed, execution of planned capacity improvements, and the availability of equipment, personnel and required permits. Relevant risks include equipment failures, delays in expansion work, changes in ore supply or metallurgical performance, commodity-price and cost fluctuations, and regulatory, labor or community-related disruptions. Additional risks are described in the Company’s public filings available on SEDAR+.

Actual production may differ from guidance, and readers should not place undue reliance on forward-looking information. Except as required by applicable law, the Company undertakes no obligation to update this information.

^{_________________________
1} AuEq = gold equivalent ounces, calculated as gold ounces sold plus silver ounces sold multiplied by the average realized silver price per ounce sold, divided by the average realized gold price per ounce sold, for the applicable period. Figures may not sum precisely due to rounding.
² Concentrates at Nechi: an internal project at pilot level developed to improve recovery rates, with implementation beginning in July.
³BMP = Bonanza Mining Partners.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Mineros' revised 2026 gold production guidance?

Mineros raised 2026 gold production guidance to 235,000–245,000 troy ounces, from 220,000–240,000 ounces. Hemco guidance is now 148,000–152,000 ounces, and Nechí guidance is 87,000–93,000 ounces. This is the second guidance increase this year.

How much gold did Mineros produce in Q3 2026?

Mineros produced 62,565 troy ounces of gold in Q3 2026, up 14.0% from Q3 2025. Hemco contributed 38,010 ounces and Nechí contributed 24,555 ounces. Nine-month consolidated production reached 181,466 ounces, up 11.3% from the corresponding 2025 period.

What drove Mineros' Q3 2026 production growth?

Hemco's growth reflected higher-grade ore and continued plant optimization and expansion work, while improved gold recovery drove Nechí's quarterly growth. Hemco's September 30 stockpiles totaled 121,864 metric tons, providing ore for future processing.