Mantaro Precious Metals Corp. announced the completion of drill pad construction at the Santas Gloria Project ahead of its planned maiden 2500 meter drill program. Drilling will initially target the strike and depth extensions of high-grade gold-silver-base metal mineralised segments of the Tembledara, San Jorge, Paquita and Maribel veins, which have been defined by channel sampling of surface veins and underground workings.

The majority of pads are located at 40-meter step backs from the veins in order to target near-surface depth extensions beneath areas of highest surface silver and gold geochemistry . One pad is positioned at an 80 meter step-back to enable drill testing beneath high-grade shoots identified by UG channel sampling at San Jorge mine. Four drill pads were built at San Jorge.

San Jorge is a multiphase silver-rich intermediate sulphidation epithermal vein system, that is up to 6 meters wide at the surface and has been mapped over 2 strike kilometres. Three pads are 40-meter step backs to test the down dip extensions of a high-grade zone that returned surface channel samples assays of between 93 to 2500 g/t Ag over 450 m strike length. One pad is an 80-meter step back to the vein and will target a high-grade ore shoot beneath historical underground mine workings which returned underground channel samples grades of up to 3210 g/t Ag.

One drill pad has been built at Tembledara to test the downdip and strike extensions of the vein where underground channel sampling by Mantaro returned grades of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn. Two additional drill pads will test the near surface down dip extensions of high-grade silver mineralization which has been defined in surface channel samples over a strike length of 400 meters along the Tembladera 1 and Tembladera 2 veins. The Tembladera vein system is a complex of silver-rich intermediate vein splays and breccia's in the south of the Santas Gloria Property, with a cumulative vein strike length of over 4 kilometers.

In the north of the project area, three pads are planned to target the down-dip extensions of the high-grade, gold-silver mineralized Paquita and Maribel veins. Paquita and Maribel are multiphase-brecciated, intermediate sulphidation epithermal veins — highly oxidized and leached at surface. The veins have been mapped over 2 strike kilometers, are up to 5 meters wide, multiphase and returned grades up to 585 g/t Ag and 8.57 g/t Au from surface channel samples taken by Mantaro.

Paquita and Maribel have never been formally mined or drill tested. The pads are 40-meter step backs from the veins designed to test the near surface depth extension of high grade mineralization. The Santas Glorias property is approximately 100 km from Lima, is at a relatively low altitude of 3300 m, and benefits from a community access agreement that is valid until 2028.

The Company was awarded three archaeology certificates (CIRA) that cover key drill targets and confirm that there are no archaeological impediments to drilling. The Company's environmental application (Ficha Tecnica Ambiental) and water permits have been accepted and an authorization for drilling (AIA) up to 20 pads. The Company elected to initially construct only 10 of the possible 20 pads allowing for optionality of pad location for a second round of drilling.

While the Company has planned an initial 15-20 hole (2500 m) program from the first 10 drill pads, it is possible to drill "fans" of multiple holes from each, such that additional meters could be drilled without construction of additional pads. In this manner, the Company could drill between 40 to 50 holes from the first 10 pads, and a similar number from the next 10 pads. The Company is well placed to drill extensively drill test the highest grade parts of each vein.