First Andes Silver Ltd. — Board/Management Information 2023

Oct 6, 2023

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1 . Name and Address of Company

MANTARO PRECIOUS METALS CORP.

1100 - 1199 West Hastings Street Vancouver, BC V6E 3T5

• Item 2 . Date of Material Change

September 29, 2023

Item 3 . News Release

The news release was issued on October 2, 2023, disseminated through PR Newswire, and filed on www.SEDAR.com.

• Item 4 . Summary of Material Change

Mantaro Precious Metals Corp. (the “Company”) announced director and officer changes.

Item 5 . Full Description of Material Change

The Company announced that it has appointed geologist Jacob Garland as Chief Executive Officer and director. In conjunction with Mr. Garland’s appointment, each of Darren Hazelwood and Donna Humphreys resigned as directors and officers of the Company. Mr. Garland is an exploration geologist with global experience on multiple deposit types across all development stages from countrywide target generation staking and early-stage greenfield exploration to operating mines. He has significant experience in working in remote, physically challenging conditions across the Amazon, high Andes, Arctic and North American desert regions. Mr. Garland will actively oversee the administration and exploration side of the Company’s projects thereby reducing overall overhead expenses of the Company. Mr. Garland received a BSc (Hons) in Exploration and Resource Geology from Cardiff University, is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM), Fellow of the Geological Society London (FGS) and Member of the Society of Economic Geologists (MSEG)..

Item 6 . Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

• Item 7 . Omitted Information

None.

Item 8 . Executive Officer

Jacob Garland

Chief Executive Officer Phone: (604) 806-0626

Item 9 . Date of Report

October 4, 2023