Copper Giant Signs Strategic Mining Area Contract with Colombia's National Mining Agency

Copper Giant Resources Corp. (CGNT) announced on Oct 26, 2026, that its wholly owned Colombian subsidiary, Libero Cobre Ltd, signed a Special Exploration and Exploitation Contract with Colombia's Agencia Nacional de Minería (ANM) on Oct 9, 2026. The agreement covers the Chaparral block (Block 39), comprising 1,614.73 hectares in the municipality of Chaparral, Department of Tolima. The block was awarded under ANM Resolution VCT 3177 of Aug 24, 2026, as part of a national tender for Strategic Mining Areas targeting copper, gold, and associated minerals. Copper Giant Resources Corp. stated it is one of five companies to hold a contract from that tender.

The company was qualified at Type C, the highest of three ANM capability tiers, for a block that only required Type B. No acquisition payment was payable to the ANM. The contract economics include an additional economic consideration of 1.5% and a social consideration of 2.0%, each payable on production in addition to statutory royalties. An annual surface canon is required at 50% of the canon in years 1-2, 75% in years 3-4, and 100% thereafter. The terms provide for an initial technical evaluation stage of one year, extendable by one year, during which investment counts toward the commitment. The company may terminate before entering the exploration stage without penalty.

The release explicitly stated that no mineral resource or mineral reserve has been estimated, no historical estimate exists, and the Company has not carried out exploration on the block. The geology cited is compiled from Servicio Geológico Colombiano (SGC) publications and has not been independently verified by the Company or its Qualified Person. Management stated plainly that "Mocoa remains our priority and our program there is unchanged."

The release also restated the Mocoa Updated MRE (effective Sept 24, 2026). The Indicated resource is 0.29 Bt @ 0.54% CuEq (2.13 Blbs Cu, 0.24 Blbs Mo) and the Inferred resource is 1.60 Bt @ 0.40% CuEq (9.36 Blbs Cu, 0.89 Blbs Mo). This is prior-period context and is not new information in this release; it is a repeat of the Oct 14, 2026 release. The only forward datum attached is that the NI 43-101 technical report for that MRE will be filed on SEDAR+ by end of November 2026.

Internal inconsistencies exist in the promotional copy: the headline says "one of five companies to secure contracts," the CEO quote says "Four came away with contracts," and the body says "eight were under this tender." The release carries the ticker "(OTCQX: CGNRF)" while the April 2026 corporate presentation lists "(OTCQB: LBCMF)."

Copper Giant Resources Corp. (CGNT) has secured a 1,614.73-hectare greenfield option in Tolima, Colombia, through a national tender. The company placed in the top capability tier alongside major producers and established Colombian entities, a move the ANM president framed as supporting the national goal of "more mining, more development." The timing aligns with the Sept 8, 2026 U.S.–Colombia critical-minerals framework.

The agreement requires no acquisition payment and includes a one-year technical evaluation period that can be extended. CGNT retains a no-penalty termination right before the exploration stage, limiting downside risk to surface costs and internal evaluation spend. However, should the project reach production, it would face a 1.5% economic and 2.0% social consideration levy on production, in addition to statutory royalties.

The Tolima asset is immaterial to CGNT’s current valuation, which is anchored by the Mocoa asset carrying approximately 11.5 billion pounds of contained copper across Indicated and Inferred categories. The Tolima option does not advance the Mocoa development timeline. Instead, it serves as a portfolio-broadening step consistent with management’s recent news flow, which has included sequential deliveries on milestones such as title unification in April 2026, the third rig mobilization, a PEA launch in May, and resource growth in October.

CGNT stock closed at C$0.84 on Oct 23, 2026, prior to the release. This represents a decline from a high of C$1.46 on Sept 8, 2026, marking a roughly 42% drawdown that included a drop through the Oct 14 MRE expansion. The company had been qualified for the Tolima tender since April 2026 and filed its offer on July 21, 2026.

Copper Giant Resources Corp. (TSXV: CGNT), a pre-revenue junior explorer and part of the Fiore Group, is advancing its flagship Mocoa copper-molybdenum porphyry project in the Putumayo Department of southern Colombia. The company’s land package size varies across disclosures; an October 26 release cites more than 128,300 hectares, while earlier materials reference 132,499 hectares and a 1,324 km² area. The company also trades under the ticker CGNRF on the OTCQX market, though an April 2026 presentation references OTCQB: LBCMF.

The Mocoa deposit was first identified in 1973 during a UN and Colombian government regional geochemical survey. Subsequent exploration between 1978 and 1983 included mapping, IP/magnetics, surface sampling, drilling, and metallurgical work. B2Gold conducted further drilling in 2008 and 2012. The project sits within a 30 km-wide tectonic belt that also hosts the Mirador, Warintza, San Carlos, and Panantza deposits. Geologically, the site features Middle Jurassic dacite and quartz-diorite porphyries exhibiting classic porphyry zonation, including a potassic core, sericite haloes, and propylitic haloes. Mineralization consists of disseminated chalcopyrite and molybdenite, with local bornite and chalcocite hosted in stockwork veins and hydrothermal breccias. The company claims the area possesses a fertile magmatic window of roughly ten million years, contributing to over 1,100 meters of vertical continuity and suggesting a multi-centre, district-scale system.

An updated Mineral Resource Estimate (MRE) effective September 24, 2026, reports Indicated resources of 0.29 billion tonnes at 0.54% CuEq, comprising 0.33% copper and 0.038% molybdenum, equating to 2.13 billion pounds of copper and 0.24 billion pounds of molybdenum. Inferred resources stand at 1.60 billion tonnes at 0.40% CuEq, containing 0.27% copper and 0.025% molybdenum, for 9.36 billion pounds of copper and 0.89 billion pounds of molybdenum. Below-pit conceptual block-cave material adds 120 million tonnes of Inferred resources at 0.48% CuEq, representing 0.90 billion pounds of copper. The resource model is overwhelmingly Inferred, with only approximately 15% of the 1.89 billion tonne total classified as Indicated. Mineral Resources are not Mineral Reserves and have no demonstrated economic viability. The MRE assumes a 3% NSR royalty, meaning the asset is not royalty-free, though specific holder details and terms are not provided.

Copper Giant Resources is also developing the Chaparral project, located in Block 39, Tolima. Situated approximately 306 km northeast of Mocoa within the same Ibagué–Mocoa metallogenic subprovince, the 1,614.73-hectare asset is in the early stages with no current resource or company-led exploration.

The company’s leadership team includes President and CEO Ian Harris, VP of Exploration and NI 43-101 Qualified Person Edwin Naranjo Sierra, and VP and Country Manager for Colombia Thyana Alvarez. The board of directors features Mark Gibson, former COO of Ivanhoe Electric and Cordoba Minerals, and Ernest Mast, former CEO of Cobre Panama and Inmet Mining.