Tribeca Resources Discovers New Shallow Copper-Gold System Below Cover at La Higuera with 67 metres of 0.52% Copper, 0.15 g/t Gold Intersected from 71 metres in First Hole into Chirsposo Sur Target

Tribeca Resources Corporation (TRBC) has released assay results from the first hole of its maiden drilling program at the Chirsposo Sur target within the La Higuera IOCG Project in northern Chile. The company drilled a total of 1,241 meters across four holes, expanding the originally planned three-hole program following the results from hole CSS001. Assays are currently pending for holes CSS002 through CSS004, for which only geological observations have been provided.

Hole CSS001 intersected 37 meters of gravel cover followed by approximately 9 meters of oxide material between 37 and 46 meters, which carried several two-meter samples grading 0.1-0.2% Cu. The broader breccia and veining zone extended from 37 to 157 meters, with copper hosted in magnetite breccias and semi-massive chalcopyrite veins. Post-mineralization andesite dykes cross-cut the zone with widths ranging from 3 to 30 meters downhole.

The reported intercepts from CSS001 are as follows: * From 71m to 138m: 67m downhole at 0.52% Cu, 0.15 g/t Au, 170 ppm Co, CuEq 0.68%. * Within that interval, from 75m to 104m: 29m at 0.91% Cu, 0.26 g/t Au, 224 ppm Co, CuEq 1.16%.

Hole CSS002 encountered 39 meters of gravel before intersecting a breccia and veining zone from 92 to 254 meters. This zone featured strong magnetite alteration and pyrite-dominant sulphides with chalcopyrite and locally semi-massive pyrrhotite. The company noted a lesser amount of Association 2 coarse-grained pyrite-chalcopyrite mineralization compared to CSS001.

Hole CSS003, drilled off the main magnetic trend, showed significantly less-altered rock. It encountered 7 meters of gravel followed by only thin bands, with a maximum width of 2 meters, of magnetite-amphibole-pyrite ± chalcopyrite.

Hole CSS004, which was added late to the program, encountered thinner cover of 10.5 meters. Shallow levels in this hole were strongly punctuated by post-mineralization intrusives, with breccia intervals identified from 10.5 to 78 meters and 176 to 243 meters.

The company applied a cutoff of intervals greater than 0.20% Cu, with a maximum internal dilution of 10 meters at 0.05% Cu and a minimum interval width of 10 meters. Copper equivalent (CuEq) was calculated using the formula: Cu(%) + (Au g/t x 0.776072) + (Co ppm x 0.000234). This calculation utilized Gaby proxy recoveries of 90% for Cu, 65% for Au, and 50% for Co, based on metal prices of US$4.75/lb for Cu, US$3,500/oz for Au, and US$20.00/lb for Co.

In context, the nearby Gaby deposit, located 4 kilometers north, previously returned 268 meters at 0.66% Cu and 0.14 g/t Au, including 90 meters at 1.02% Cu. Tribeca is currently reviewing options to fast-track the La Higuera project and to test two further undrilled targets: Benja and Don Baucha.

Tribeca Resources Corporation has returned its first assay results from a blind, fully covered target at the La Higuera project, establishing a third mineralized center roughly 4km from the Gaby deposit. The discovery validates the company’s district thesis, which it has promoted since 2025, and comes with 100% ownership of the ground. The target had no prior outcrop, with its only previous evidence being a historic 8m @ 0.23% Cu intercept.

The stock closed at C$0.20 on 5 October 2026, against a 52-week low of C$0.18 and a high of C$0.32. It is down from C$0.28-0.30 in mid-June and traded at C$0.23 exactly twelve months earlier. The property’s larger Gaby intercept, measuring 268m @ 0.66% Cu, has been public since January 2023 and has not previously re-rated the equity.

This hole carries approximately 20% of the Gaby anchor's copper metal-metres at a lower copper grade, with true width unconstrained. Three of four holes remain unassayed, with two of those three appearing weak or ambiguous on observation.

Tribeca is a pre-resource explorer with no mineral resource estimate at any project, no revenue, and no debt. For the period ending 30 June 2026, the company reported a net loss of C$2.02M, exploration spend of C$1.49M, and SG&A of C$2.10M. It held C$3.22M in cash, C$3.19M in working capital, and C$5.57M in equity, with 97,437,779 shares outstanding. Cash consumption of roughly C$0.4M per month implies a runway of about two to three quarters, suggesting that an aggressive ramp-up in drilling would likely require financing.

Any financing to fund such a ramp-up would likely be struck near multi-year lows, with roughly 15.5M warrants already outstanding at C$0.30/C$0.40 and ~1.2M finder's warrants at C$0.21 overhanging the stock.

Tribeca Resources Corporation (TSXV: TRBC, OTCQB: TRRCF), a portfolio-driven copper explorer in northern Chile led by CEO Dr. Paul Gow and President Thomas Schmidt, has completed the acquisition of its flagship La Higuera IOCG project. The company now holds 100% ownership of the asset, including the Gaby-Totito property, following the exercise of an option. The acquisition consideration totaled US$1.55M, with US$500,000 paid upon exercise. The remaining balance consists of US$500,000 due on 15 September 2026 and US$550,000 due on 15 September 2027. Vendors retain a 1% NSR and are entitled to an exploration levy of 10% of expenditure between January 2026 and September 2027.

La Higuera is located roughly 60km north of La Serena-Coquimbo at low altitude with road access. The property features approximately 10,000m of historical drilling, with mineralization defined over a 1.4km strike length at Gaby. Targets include Gaby, Chirsposo, Chirsposo Sur, which features a 1.2km magnetite trend, as well as the undrilled Benja and Don Baucha prospects.

The company also holds interests in other regional assets. The Jiguata project, spanning 10,000ha in the Tarapaca region roughly 120km north of Collahuasi and Quebrada Blanca, is held under a five-year option. Exercise of this option requires staged cash payments and US$14.45M, along with a 2.0% NSR repurchasable for US$20M. The agreement mandates a minimum 3,000m of drilling, including at least one hole of 500m or deeper, within 24 months of October 2025. Conceptual targets at Jiguata include La Soberana, Cetro Dorado, Escudo Real, and El Trono, defined from mapping, 672 soil samples, 149 rock chips, magnetics, reprocessed IP, and MT. No drilling has been completed at Jiguata.

Additionally, Tribeca holds an option on the earlier-stage porphyry Cu-Au-Mo Chiricuto project, which includes an obligation to complete an NI 43-101 resource estimate over the option period.

Regarding financials, prior-period context not disclosed in today's release indicates that for the six months ended 30 June 2026, Tribeca reported a net loss of C$2.02M. SG&A expenses were C$2.10M, with exploration costs of C$1.49M. The company held C$3.22M in cash and C$3.19M in working capital, with total equity of C$5.57M. The book value stood at C$0.06 per share based on 97,437,779 shares outstanding. The company reported no debt and no revenue. For FY-2025, the net loss was C$1.99M.

The capital structure as of 30 June 2026 consists of 97.4M shares, plus roughly 15.5M warrants at C$0.30/C$0.40, roughly 1.2M finder's warrants at C$0.21, and roughly 445,000 options at about C$0.22. With cash at C$0.20, the market capitalization is approximately C$19.5M, with equity of C$5.57M for a price-to-book of roughly 3.5x.