antiago, Chile – September 15, 2026

Pampa Camarones SpA (BCS:CAMARONEX), controlled by Minería Activa, announces that it has entered into an amendment to the Share Purchase Agreement with Norfolk Metals Limited (ASX:NFL) for the sale of the Ciclón-Exploradora polymetallic project, pursuant to which, among other things, the deadline to give the Notice of Intention to Proceed has been extended until November 20th, 2026.

Under the original agreement, Norfolk Metals commited to acquire 100% of Eco Earth Elements SpA (“EEE”) and Don Gabriel SpA (“DG”), the companies that hold the Ciclón-Exploradora project. The total transaction value was USD $50 million, consisting of USD $45 million in cash and USD $5 million in Norfolk Metals shares, subject to customary closing conditions.

Under the amendment, Pampa Camarones and Norfolk Metals additionally agreed to reduce the minimum binding investment commitment condition applicable to Norfolk Metals’ public offer from A$100 million to A$75 million, within the broader capital raising program, which continues to target an aggregate of A$100 million to A$120 million.

In connection with the amendment, Norfolk Metals also funded the scheduled option payment of USD $1,286,439 owed by EEE and DG to Compañía Minera Fénix under the mining option agreements relating to the Ciclón-Exploradora project.

Transaction process and expected timeline

The transaction remains subject to Norfolk Metals obtaining binding investment commitments of not less than A$75 million under a public offer, as amended, as part of the broader capital raising program described above.

The Share Purchase Agreement originally provided a period of up to four months to satisfy the conditions precedent required for closing, with an option for Norfolk Metals to extend this period by an additional two months, subject to payment of a USD $250,000 non-refundable extension fee. Norfolk Metals exercised this option in July 2026. Following a further short extension agreed thereafter to provide binding commitment (subject to an additional USD $150,000 non-refundable fee), the parties have now entered into an amendment to the Share Purchase Agreement further extending the deadline. All extension fees paid to date are non-refundable and, if Closing occurs, will be credited against the cash purchase price.

Completion of the transaction is expected to occur following Norfolk Metals’ planned capital raising and re-listing process on the Australian Securities Exchange (ASX), which is intended to fund the development and exploration of the project.

Ciclón-Exploradora Project

The Ciclón-Exploradora project is an advanced polymetallic project located in the Antofagasta Region of Chile, a globally recognized mining jurisdiction with world-class infrastructure and a long history of copper production. The project hosts 10 million tons with an average grade of 3.0% CuEq resources (NI 43-101 compliant). The project holds historical mining activity and multiple additional high-grade polymetallic targets, as well as exploration potential in the nearby La Encantada porphyry copper-gold system. The project had its Environmental Impact Study approved during December 2025.

The project has been discovered and advanced by Pampa Camarones and Minería Activa, a leading Chilean private equity firm with a long and successful track record in the discovery and development of mining assets.

About Pampa Camarones

Pampa Camarones is a Chilean copper mining and development company controlled by the Minería Activa investment funds. The company operates the Pampa Camarones copper district in northern Chile.