Mogotes Metals Inc. Announces Strategic Investment by Rio Tinto
Date: July 13, 2026
Toronto, Ontario—Mogotes Metals Inc. (TSXV: MOG) (FSE: OY4) (OTCQB: MOGMF) (“Mogotes” or the “Company”) is pleased to announce that it has entered into a binding term sheet with Rio Tinto Exploration Canada Inc. (“Rio Tinto”). Under this agreement, Rio Tinto or an affiliated company will subscribe for 30,387,857 units of the Company at a price of C$0.70 per Unit, yielding gross proceeds of approximately US$15,000,000 (C$21,271,500).
Details of the Placement:
- Each Unit will consist of one common share and one-half of one common share purchase warrant, with each whole Warrant allowing the holder to acquire one additional Common Share at an exercise price of C$1.00 for 18 months post-closing.
- Upon closing, Mogotes and Rio Tinto will form a strategic and technical alliance focused on Mogotes’ Filo Sur project in Argentina and Chile.
Highlights:
- Rio Tinto will acquire an initial ~5% interest in Mogotes through a C$21,271,500 investment.
- The offering includes approximately 15,193,929 Warrants, potentially providing an additional C$15,193,929 in proceeds.
- Investment proceeds will be directed toward advancing work programs at the Filo Sur project.
- Rio Tinto and Mogotes will negotiate definitive agreements for a strategic alliance covering the Filo Sur project and the broader Vicuña portfolio.
- There will be a conditional 15-month exclusivity period for Rio Tinto regarding the Filo Sur project.
Strategic & Technical Alliance:
The alliance aims to leverage Mogotes’ local exploration expertise with Rio Tinto’s global technical capability to accelerate discovery in a top copper-gold-silver belt. Key elements include:
- Formation of a joint technical committee to guide exploration efforts.
- Application of advanced geoscience tools and methodologies.
- Joint expansion efforts in the Vicuña district.
- Potential extensions to other mineral belts, including Kazakhstan.
CEO Statement:
Allen Sabet, President and CEO, stated: “Rio Tinto’s strategic investment in Mogotes is an endorsement of the prospectivity of Filo Sur and the broader Vicuña district. The Alliance grants us access to deep exploration capabilities while allowing Mogotes to deliver value to shareholders.”
Conditions:
The Placement is subject to regulatory approvals, including from the TSX Venture Exchange.
For more information, please contact:
Mogotes Metals Inc.
Allen Sabet, President and CEO
Phone: (647) 846-3313
Email: info@mogotesmetals.com
Cautionary Note Regarding Forward-Looking Information:
This release contains forward-looking information that may involve risks and uncertainties. Readers should not place undue reliance on these statements.
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