CA - Amerigo reports Q3 Minera Valle Central production and operational update

• Amerigo ( OTCQX:ARREF ) announces Q3 production results from Minera Valle Central (MVC), the company’s 100% owned operation.
• MVC produced 16.0M lbs of copper at a cash cost of US$1.93/lb per pound. Production in line with company's guidance.
• Based on the company’s modeling, annual production is expected to be 63.8 M lbs of copper (3% over guidance) with cash cost trending towards $1.95/lb, approximately 3% higher than guidance.
• This cash cost variance is attributable to lower than anticipated molybdenum production and byproduct credits.
• MVC’s water reserves on September 30, 2022 were 5.4 million cubic meters, 0.2 million higher than at the end of Q2-2022.
• Molybdenum production in the quarter was 0.3M lbs, continuing to trend below guidance mostly due to lower molybdenum content in fresh tailings.
• The company’s quarterly copper price in Q3-2022 was $3.50/lb, compared to $4.10/lb in Q2-2022.
• On September 30, 2022, the company’s cash and restricted cash balance was $48.2M.

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