Los Angeles, California--(Newsfile Corp. - July 14, 2025) - Chilco River Holdings, Inc. (OTCID: CRVH) ("Chilco" or the "Company"), a dynamic holding company and diversified business accelerator, announces updates to ongoing projects that have been making significant progress.

Gold Joint Venture in the Philippines Progressing Toward Production

Chilco River Holdings also reports significant progress on its gold recovery joint venture in the Philippines. The project site, located approximately 200 kilometers southeast of Manila, contains an estimated 1.7 million tons of tailings with a gross metal value of approximately US$115 million, including US$100 million in gold and US$15 million in silver, based on current market prices. These estimates are supported by historic production data and tailings assays from the original mine, which produced over 290,000 ounces of gold over a 10-year period.

The metallurgical engineering team onsite has ordered new industrial pumps and related infrastructure for the carbon-in-leach (CIL) circuit, an essential component of the gold extraction process.

To further accelerate operational readiness, suppliers have been instructed to procure a CAT 950 front-end loader, which will be essential for onsite excavation and handling of tailings. Once all equipment is delivered and commissioned, the project will begin full-scale production focused on gold recovery from legacy tailings. This marks a pivotal step in unlocking value from this asset and further diversifying Chilco's revenue streams.

Excuse Wine & Spirits Acquisition Nearing Completion

Chilco River Holdings is pleased to report that the acquisition of Excuse Wine & Spirits, Inc. is in its final stages. Both parties are finalizing the necessary documentation, and the transaction is expected to close within the next week.

This acquisition represents a significant milestone for Chilco as it prepares to launch three premium alcohol brands in the bourbon whiskey, tequila, and ready-to-drink (RTD) cocktail categories. Each of these products has undergone rigorous market testing in major metropolitan regions across the United States and has received overwhelmingly positive feedback.

These successful pilot campaigns have attracted the attention of major distributors, wholesalers, and national retailers, with negotiations currently underway to bring these products to market at scale. The company anticipates the first commercial launch to be its premium bourbon, which is in the final stages of production. Detailed product information and branding will be released shortly.

Additionally, Chilco is developing a large-scale national sales and fulfillment infrastructure to enable legal online purchase and shipment of its entire beverage lineup to over 39 states across the continental U.S. This project, being developed in conjunction with a strategic partner and internal technical teams, includes building out robust e-commerce capabilities and ensuring full compliance with federal and state regulatory frameworks.

Online alcohol sales in the U.S. have shown tremendous growth, with the market exceeding $9.3 billion in 2024, a 17% increase year-over-year, according to industry research. Chilco's strategic positioning aims to capitalize on this trend with a direct-to-consumer model that maximizes reach, efficiency, and profitability.

Looking Ahead

Chilco River Holdings continues to execute its strategy of building a diversified portfolio that leverages high-growth opportunities in both consumer and industrial sectors. With the pending completion of the Excuse Wine & Spirits acquisition and the near-term ramp-up of gold production in the Philippines, the company is well-positioned for strong revenue generation and shareholder value creation in the second half of 2025 and beyond.

Shareholders can expect additional updates this month as these projects reach critical milestones.

About Chilco River Holdings, Inc.

Chilco River Holdings, Inc. is a strategic holding company and business accelerator focused on building long-term value through the acquisition, development, and growth of diversified businesses. With a core emphasis on the premium alcoholic beverage sector, Chilco River specializes in high-quality spirits and innovative ready-to-drink (RTD) products. The Company leverages operational expertise, brand development capabilities, and strategic partnerships to drive sustainable growth across its portfolio.

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