Fredonia Mining Inc. Announces Filing of Technical Report in Connection with Preliminary Economic Assessment on the EDM Project

TORONTO, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Fredonia Mining Inc. ("Fredonia" or the "Company") (TSXV: FRED) has filed a technical report supporting the disclosure of the results of a preliminary economic assessment ("PEA") on its wholly-owned El Dorado Monserrat gold & silver project in Santa Cruz province, Argentina (the "EDM" Project). The results of the PEA were disclosed in a news release dated August 31, 2026.

The technical report is entitled "NI 43-101 Technical Report - Preliminary Economic Assessment, El Dorado - Monserrat Gold-Silver Project" (the "Technical Report"), and has an effective date of August 17, 2026. The Technical Report was prepared by Messrs. Sergio Alvarado Casas, R.M. (Geology) of the Comisión Calificadora de Competencias en Recursos y Reservas Mineras de Chile ("CMC") (#004), Ricardo Muñoz González, R.M. (Mining) of the CMC (#005) and MAusIMM (Registration No. 312,131), and Carlos Puga Gómez, R.M. (Mining) of the CMC (#180). Each of Messrs. Casas, González and Gómez are "qualified persons" as defined by Canadian National Instrument 43-101.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved for disclosure by Sergio Alvarado Casas, Geologist, a Qualified Person as defined by NI 43-101. Mr. Alvarado is a Registered Member (R.M. No. 004) of the CMC and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 3210103), both of which are Accepted Foreign Associations under Appendix A to Companion Policy 43-101CP. Mr. Alvarado is the principal author of the Technical Report and provides services to Fredonia Mining Inc. as an independent consultant through Geoinvest Limitada. He is independent of the Company within the meaning of NI 43-101.

About Fredonia

Fredonia holds gold and silver license areas totaling approximately 64,000 ha in the prolific Deseado Massif geological region in the Province of Santa Cruz, Argentina, including its flagship advanced EDM project (approximately 33,500 ha) located close to AngloGold Ashanti's Cerro Vanguardia gold-silver mine (which produced approximately 180,000 ounces of gold during the twelve months ended June 30, 2026*), the El Águila project (approximately 9,100 ha), and the Hornia project (approximately 21,500 ha).

^{* Source: AngloGold Ashanti plc's 2025 Form 20-F and Q2 2026 Earnings Release: Operating Statistics. The twelve-month production figure was calculated from the reported production of 179,000 ounces of gold in 2025, less 94,000 ounces produced during the six months ended June 30, 2025, plus 95,000 ounces produced during the six months ended June 30, 2026. Scientific and technical information concerning the Cerro Vanguardia mine has been obtained from publicly available disclosure by AngloGold Ashanti plc and has not been independently verified by the Company's Qualified Person. Information concerning Cerro Vanguardia is not necessarily indicative of the mineralization, Mineral Resources, or Mineral Reserves on, or the economic potential of, the EDM Project.}

For further information: Please review the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca and visit the Company's website at www.fredoniamanagement.com or contact: Estanislao Auriemma, Chief Executive Officer, Direct [phone], Email: [e-mail].

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