Fitzroy Minerals Reports Significant Copper Mineralization Extensions at Chilean Projects

Fitzroy Minerals Inc. has reported significant exploration progress at its Buen Retiro and Caballos copper projects in northern Chile, with drilling results extending mineralization zones and revealing new exploration targets. The company's Phase 2 drilling at Buen Retiro has identified substantial copper intersections, including drill hole BRT-DDH041 which intersected 108 meters at 0.41% copper from 30 meters depth, including a higher-grade interval of 48 meters at 0.77% copper from 60 meters. These sulphide intersections are relatively shallow and show similarities to Candelaria open pit grades as reported by Lundin Mining, suggesting the potential for Candelaria-style mineralization at the project.

Reverse circulation drilling at Buen Retiro has extended the Southwest oxide target to 1.7 kilometers in length, with drill hole BRT-RCD008 intersecting 213 meters at 0.19% copper and 199 parts per million cobalt from 3 to 216 meters depth. This extension represents a 300-meter increase from the previously known 1.4-kilometer trend. The area shows unusually high cobalt content, though recovery potential remains uncertain at this stage. The company has signed new drilling contracts for a minimum of 10,400 meters of diamond drilling and 3,000 meters of reverse circulation drilling planned for 2026, with a ground geophysical survey planned to assist with sulphide drill-targeting at depth.

At the Caballos project, Phase 1 drilling has extended the strike length of mineralized breccias, with drill hole CAB-DDH009 intersecting 70 meters at 0.41% copper equivalent from 85 meters depth. The geology exhibits characteristics consistent with economic porphyry copper deposits, including potassic alteration, veining, stockworks, and brecciation. An airborne Mobile MagnetoTellurics geophysical survey has been commissioned and is scheduled for completion in the first quarter of 2026, which should help map subsurface geology and identify conductive features like faults and sulphide mineralization concentrations.

The company is advancing discussions regarding a Heap Leach Joint Venture Copper Project with Sociedad Punta del Cobre S.A., with a decision made to complete a Pre-Feasibility Study meeting National Instrument 43-101 disclosure requirements. Quality assurance and quality control procedures for both projects followed industry standards, with samples analyzed at certified laboratories including ALS-Patagonia in Copiapó and Andes Analytical Assay Limitada in Santiago. The technical information has been reviewed and approved by qualified person Dr. Scott Jobin-Bevans, an independent geological consultant to the company.

These results demonstrate the growing potential of both projects, with Buen Retiro showing extensive oxide and sulphide mineralization and Caballos exhibiting porphyry system characteristics. The extensions to known mineralization zones and identification of new exploration targets position the company for continued discovery and resource definition in 2026. The planned geophysical surveys and expanded drilling programs will provide additional data to better understand the geological architecture and mineralization controls at both properties.