Fitzroy Minerals Reports Significant Copper Exploration Progress in Chilean Projects

Fitzroy Minerals Inc. has reported substantial exploration progress at its Buen Retiro and Caballos copper projects in northern Chile, with significant implications for copper supply development in one of the world's most important mining regions. The company extended the known mineralization zone at Buen Retiro by approximately 40% through recent drilling, while simultaneously accelerating exploration at Caballos with expanded drilling programs.

At the Buen Retiro project, diamond drilling results from holes 28 to 35 have extended the zone of continuous mineralization in the Southwest Area to 1.4 kilometers, representing a substantial increase from the previously reported 985 meters. The most notable intersection came from hole BRT-DDH-028, which returned 133 meters at 0.46% copper in oxides from the top of bedrock, including higher-grade intervals of 40 meters at 0.53% copper and 35 meters at 0.77% copper. The mineralization remains open along strike in both directions, with the company planning an additional 2,250 meters of diamond drilling for 2026.

Reverse-circulation drilling at Buen Retiro has completed 1,050 meters in four holes, with preliminary logging identifying intrusive rocks bearing chalcopyrite and pyrite mineralization several kilometers east of the main Southwest Area. Initial assay results from this program are expected in October 2025. The company is now investigating potential for fast-track production and aims to complete both a maiden mineral resource estimate and Preliminary Economic Assessment for a heap leach operation in 2026.

The strategic importance of Buen Retiro's location cannot be overstated, as the Pan-American highway and high voltage transmission lines cross the eastern portion of the concession area. The project's proximity to the sea (approximately 35 kilometers) and to Copiapó (approximately 60 kilometers) provides significant infrastructure advantages that could contribute to near-term viability of operations. Environmental baseline monitoring has already commenced as part of the permitting process.

Concurrently, Fitzroy is expanding its Caballos drilling program to three rigs following several technical breakthroughs. The company intends to complete at least 3,000 meters of diamond drilling in 2025, comprising approximately 2,000 meters at the Chincolco Prospect and 1,000 meters at the Mule Hill Prospect. Recent age-dating results have positioned Caballos within Chile's most fertile metallogenic epochs, with molybdenite from Chincolco dated to 44 million years (Eocene) and hydrothermal alteration at Mule Hill dated to 25.5 million years (Late Oligocene).

This age span of nearly 19 million years indicates Caballos represents a long-lived hydrothermal system comparable to well-known Eocene-Oligocene belts that host world-class deposits including Chuquicamata, Escondida, Quebrada Blanca, and Collahuasi. Additional supporting evidence includes re-logging that confirmed hydrothermal breccias contain mineralized porphyry clasts, similar to other breccia-dominated systems like El Teniente, and mapping that identified expansion potential to the east under post-mineral cover.

The timing of these developments is particularly significant given global copper demand projections and Chile's position as the world's largest copper producer. Successful development of either project could contribute meaningfully to copper supply at a time when demand is expected to grow substantially due to electrification trends and renewable energy infrastructure development. The company's progress at both projects demonstrates the ongoing potential for new discoveries in Chile's established mining districts, potentially extending the country's leadership in copper production for decades to come.

For additional technical details and assay results, readers can visit https://www.newmediawire.com. All technical information has been reviewed and approved by Dr. Scott Jobin-Bevans, a Qualified Person as defined by National Instrument 43-101.