Patagonia Gold Third Quarter 2024 Financial Results

VANCOUVER, British Columbia, Nov. 29, 2024 (GLOBE NEWSWIRE) — Patagonia Gold Corp. (“Patagonia” oregon the “Company”) (TSXV: PGDC) announces its fiscal results for the 4th ended September 30, 2024 (“Q3 2024”). The fiscal statements unneurotic with the related management’s treatment and investigation are disposable connected the Company’s website and nether the Company’s illustration connected SEDAR+ astatine www.sedarplus.ca.

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Highlights

• Generated gross of US$2.4 cardinal successful Q3 2024.
• Produced 796 golden equivalent ounces⁽¹⁾ and sold 955 golden equivalent ounces⁽¹⁾ successful Q3 2024.
• On November 6^th, the Company received the last licence to beforehand with the operation and improvement of the Calcatreu project.
• Incurred exploration expenditures of US$0.9 cardinal successful Q3 2024.
• On October 9^th, the Company entered into a definitive statement with Compañía Inversora de Minas SAU, acquiring 4 mineral properties and consolidating the Mina Angela spot artifact successful Chubut.

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^Notes:
(1) _{Consisting of 526 golden ounces and 22,683 metallic ounces of accumulation and 625 golden ounces and 27,109 metallic ounces sold, converted to a golden equivalent utilizing a ratio of the mean spot marketplace terms for the commodities each period. The ratio for the 3 months ended September 30, 2024 was 82.49:1 (2023 – 80.89:1).}

Qualified Person’s Statement

Donald J. Birak, an autarkic consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified idiosyncratic arsenic defined by National Instrument 43-101, has reviewed and approved the technological and method accusation successful this quality release.

About Patagonia Gold

Patagonia Gold Corp. is simply a South America focused, publically traded, mining institution listed connected the TSX Venture Exchange. The Company seeks to turn shareholder worth done exploration and improvement of golden and metallic projects successful the Patagonia portion of Argentina. The Company is chiefly focused connected the Calcatreu task successful Rio Negro and the improvement of the Cap-Oeste underground project. Patagonia, indirectly done its subsidiaries oregon nether enactment agreements, has mineral rights to implicit 430 properties successful respective provinces of Argentina and is 1 of the largest landholders successful the state of Santa Cruz, Argentina.

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For much information, delight contact:

Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp.
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com

FORWARD-LOOKING STATEMENTS

This quality merchandise contains definite forward-looking statements, including, but not constricted to, statements with respect to, among different things, the advancement and improvement of golden and metallic projects successful the Patagonia portion of Argentina and the anticipated maturation successful shareholder value. Wherever possible, words specified arsenic “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” oregon “potential” oregon the antagonistic oregon different variations of these words, oregon akin words oregon phrases, person been utilized to place these forward-looking statements. These statements bespeak management’s existent beliefs and are based connected accusation presently disposable to absorption arsenic astatine the day hereof.

Forward-looking statements impact important risk, uncertainties and assumptions. Many factors could origin existent results, show oregon achievements to disagree materially from the results discussed oregon implied successful the forward-looking statements. These factors should beryllium considered carefully, and readers should not spot undue reliance connected the forward-looking statements. Although the forward-looking statements contained successful this quality merchandise are based upon what absorption believes to beryllium tenable assumptions, the Company cannot guarantee readers that existent results volition beryllium accordant with these forward-looking statements. These forward-looking statements are made arsenic of the day of this quality release, and the Company assumes nary work to update oregon revise them to bespeak caller events oregon circumstances, but arsenic required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that word is defined successful the policies of the TSX Venture Exchange) accepts work for the adequacy oregon accuracy of this quality release.

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