Coppernico extends Sombrero option

Executive Summary

• Coppernico Metals Inc. amended its option agreement with Aceros Arequipa S.A., extending the option term to Dec 13 2029 and adding the right to explore and drill the Fierrazo target pending permit approval.
• The amendment includes a commitment by Coppernano to rehabilitate historical and future environmental disturbances at Fierrazo, with a reclamation plan under development.
• Historical drilling at Fierrazo previously returned significant copper‑gold intervals (e.g., 116 m @ 0.42% Cu & 0.24 g/t Au), supporting the target’s potential and justifying the expanded exploration scope.

Key Details

• Option Term Extension: New expiry date of December 13 2029 for the Aceros option, giving Coppernico additional time to meet work‑expenditure obligations under Phase 1.
• Expanded Exploration Rights: The amendment now permits full surface exploration and, once environmental permits are secured, drilling of the Fierrazo target.
• Historical Intercepts (Fierrazo):
• 116 m @ 0.42 % Cu & 0.24 g/t Au
• 90.4 m @ 0.48 % Cu & 0.05 g/t Au
• 51 m @ 0.43 % Cu & 0.16 g/t Au (as disclosed in Auryn Resources news release dated June 13 2019).
• Environmental Commitment: Coppernico will assume responsibility for rehabilitating both historical and any future disturbance at Fierrazo; a reclamation plan is being coordinated with Peruvian authorities to estimate future costs.
• Permit Strategy: Company plans to file an Environmental Impact Assessment – semi‑detailed (EIA‑sd) permit application imminently to enable drilling.
• Exploration Plan: Surface exploration will commence at Fierrazo while the company continues advancing drill permits for a Phase 2 program aimed at expanding and defining the mineralized footprint.
• Management Comments:
• Ivan Bebek, Chair & CEO – highlighted the amendment as a key step toward securing drill permits and emphasized community engagement and job creation.
• Tim Kingsley, VP Exploration – noted that the amendments strengthen Coppernico’s long‑term position at Sombrero and underscored Fierrazo’s high‑grade copper‑gold skarn potential.
• Technical Review: Information reviewed and approved by Tim Kingsley, MSc, CPG, qualified person under NI 43‑101.

Notable Quotes

“We are pleased to have amended our option agreement with Aceros… this amendment is an important step toward securing drill permits for our Fierrazo target.” – Ivan Bebek, Chair & CEO

“These amendments significantly strengthen our long‑term position at Sombrero by expanding exploration opportunities at Fierrazo, while ensuring responsible stewardship through pro‑active environmental commitments.” – Tim Kingsley, VP Exploration