Edmonton, Alberta - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ('Peruvian Metals'), further to its press release of February 28, 2024 (the 'Prior Press Release'), is pleased to announce the closing of its acquisition of a 50% interest in San Maurizo Mines Inc. ('San Maurizo'), a private Manitoba-based company (the 'Transaction').

Pursuant to the Transaction, Peruvian Metals has issued 2,500,000 common shares to the vendor in order to acquire the interest in San Maurizo following receipt of TSX Venture Exchange approval. This strategic collaboration paves the way for both entities to collectively develop the promising Mercedes gold-silver-lead-zinc-copper mineral property, situated in central Peru.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade sulphide concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

Contact:

Jeffrey Reeder

Tel: (647) 302-3290

Email: jeffrey.reeder@peruvianmetals.com

Disclosure Regarding Forward-Looking Statements: This press release contains certain 'Forward-Looking Statements' within the meaning of applicable securities legislation. We use words such as 'might', 'will', 'should', 'anticipate', 'plan', 'expect', 'believe', 'estimate', 'forecast' and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

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