Fitzroy Minerals Expands Buen Retiro Drill Program to 22,000 Meters, Reports High-Grade Copper Intercepts

Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) announced an expansion of its exploration and resource definition drilling program at the Buen Retiro Copper Project in Copiapo, Chile, to approximately 22,000 meters for 2026, following continued high-grade copper intercepts near surface. The company reported results from nine drill holes in the Southwest Area, including significant intersections that underscore the project's potential for near-term copper production.

Drill hole BRT-DDH052 returned 59.0 meters at 1.73% copper from 92.0 meters depth, including 12.0 meters at 5.39% copper from 136.0 meters. Drill hole BRT-DDH062 intersected 76.0 meters at 0.74% copper from 69.0 meters, with a higher-grade interval of 13.0 meters at 3.62% copper from 106.0 meters. These results, along with previously reported intercepts such as BRT-DDH022 (110 meters at 1.94% copper), highlight the continuity of shallow mineralization in the Southwest Area.

Merlin Marr-Johnson, President and CEO of Fitzroy, stated: “I am delighted that we continue to see good results from Buen Retiro. This time the intersections close to surface include intercepts of 59 meters at 1.73% Cu in drill hole 52 and 76.0 m at 0.74% Cu in drill hole 62. Results of this calibre, news release after news release, are the hallmark of a well mineralized system. What makes it so valuable is that this is near-surface, leachable material, near infrastructure in Chile.”

Marr-Johnson added that the company is evaluating a plan to produce a soluble copper sulphate concentrate at site, which could then be trucked to one of three Electro-Win plants within a 90 km radius for processing into copper cathode, reducing capital requirements and permitting timelines. The expanded drill program now totals at least 22,000 meters, with three diamond drill rigs currently operating and a reverse circulation rig to be added shortly.

Since February 2026, Fitzroy has completed 67 drill holes totaling 10,583 meters, comprising 49 infill holes, six geotechnical holes, and 12 exploration holes. The work aims to define mineralization for a maiden mineral resource estimate, though the resource definition timeline may extend as new mineralization is discovered. To mitigate laboratory delays of up to three months at ALS Global, Fitzroy is now sending samples from the Pit Area to SGS Laboratories, ensuring dataset integrity.

Drill holes 52, 54, and 62 returned long intercepts of shallow mineralization, with hole 54 returning 80.2 meters at 0.65% copper from 20.8 meters depth. Cross-sections indicate that high-grade mineralization in holes 22, 50, and 52 is truncated at depth by a fault, with assays pending for hole 88. The company continues to release monthly drill results to keep the market informed.

The Qualified Person for the news release, Dr. Scott Jobin-Bevas (P.Geo., Ph.D., PMP), independent geological consultant to Fitzroy, has reviewed and approved the technical information. The company maintains rigorous QA/QC procedures, including insertion of blanks, standards, and pulp duplicates at a rate of about 12% of total samples, with no significant issues identified.

Fitzroy Minerals is focused on copper-focused mineral assets in the Americas, including the Buen Retiro Copper Project near Copiapo, Chile, the Caballos Copper and Polimet Gold-Copper-Silver projects in Valparaiso, Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in British Columbia, Canada. The company's shares trade on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under FTZFF.