MOGOTES METALS INC.

Mogotes released partial assay results from diamond drill hole FS_DDH_016 on the Albor target at its flagship Filo  Sur project in Argentina.  Assays received for the first 194 m within the 464 m deep hole confirm a continuous zone starting from 108m depth of near surface, high-grade copper-gold-silver-molybdenum mineralization in chalcopyrite-bornite-covellite bearing breccias, stockwork and disseminations within altered porphyry.  Highlights are as follows:

• 86 m at 0.7% Cu, 0.55 g/t Au, 2.7 g/t Ag & 169 ppm Mo from 108 m to 194 m down hole to end of assays received to date.
• This section includes 43 m at 1.1% Cu, 0.82 g/t Au, 4.0 g/t Ag & 281 ppm Mo from 111 m with peak intervals of 10 m at 1.4% Cu, 1.2 g/t Au, 4.6 g/t Ag and 383 ppm Mo from 133 m and 5 m at 1.75% Cu, 1.1 g/t Au, 3.6 g/t Ag and 393 ppm Mo from 146 m.
• The reported interval ends in mineralization; assays for the remaining 270 m of the hole are pending.

This is a very promising discovery hole in the Albor target area.  Mogotes geologists have noted the strong parallels of the characteristics of mineralization in hole FS_DDH_016 with those reported from the nearby Filo del Sol deposit. The press release includes a number of pictures of mineralized drill core which look impressive.

The Company has now finished its drill campaign completing a total of 6,207m of which results have been reported for 2,652m including this release with 3,681m of drilling remaining to be reported. Chile drill holes started later in the season and will be reported later than the Argentina drill holes due to timing of drilling and laboratory assay timing.