Patagonia Gold Provides Update on Calcatreu Project

VANCOUVER, British Columbia, Aug. 21, 2026 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia Gold” or the “Company”) provides an update regarding its Calcatreu Project (“Calcatreu” or the “Project”) in Río Negro Province, Argentina.

On August 19, 2026, following an inspection at Calcatreu, the Río Negro Secretariat of Labour ordered the preventive, partial and temporary suspension of certain operational activities at the Project.

The Company is currently assessing the scope of the measure and is cooperating fully with the relevant provincial authorities to address the matters raised, with a view to resuming operations as soon as possible.

While the measure remains in effect, essential activities required for the maintenance and health and safety of the site will continue.

The Company remains committed to the continued development of Calcatreu and to generating long-term value for our shareholders, employees, local communities and the Province of Río Negro.

The Company will issue further statements and provide additional information as appropriate.

About Patagonia Gold

Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through the exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in an extensive portfolio of properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.

For more information, please contact:

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

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements with respect to the suspension of activities at the Project; the targeted resolution of matters raised in the measure ordered by the Río Negro Secretariat of Labour and resumption of operations at the Project in a timely manner or at all; and the continuation of maintenance and health and safety activities at the Project. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or similar words or phrases have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, the ability of the Company to address the matters raised in the measure ordered by the Río Negro Secretariat of Labour and resume operations at the Project, changes in applicable laws and regulations, unforeseen circumstances affecting the Company’s ability to implement its business strategies, the state of the capital markets, the availability of funds and resources, and general economic, market and business conditions.

For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company’s filings with Canadian securities regulators available on SEDAR+. Readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.