Fitzroy Minerals Reports on Latest Drilling Results and Extends Oxide Zone to 1.7 km, Buen Retiro Copper Project, Chile

The February 9, 2026, news release reports significant drilling results from the Buen Retiro and Caballos copper projects in Chile. Key highlights include the extension of the continuous oxide zone at Buen Retiro to 1.7 km. Standout intercepts at Buen Retiro include hole BRT-DDH041 with 108m @ 0.41% Cu and hole BRT-DDH043 with 77m @ 0.46% Cu. Management explicitly compared these results to the grades found at Lundin Mining’s neighboring Candelaria open pit. Additionally, the company has decided to transition the Buen Retiro technical studies directly into a Pre-Feasibility Study (PFS) in collaboration with joint venture partner Pucobre. At the Caballos project, hole CAB-DDH009 returned 71m @ 0.41% CuEq, reinforcing the presence of a robust porphyry system.

This news is materially positive for three primary reasons: - Project Validation: The decision to move to a PFS indicates that the company and its partner, Pucobre (a major Chilean miner), have seen enough data to justify formal economic evaluation. This de-risks the path to production. - Scale Confirmation: Extending the oxide trend to 1.7 km suggests a project of significant size, moving it beyond a mere "prospect" to a potential development asset. - Peer Benchmarking: By aligning their grades with Candelaria, management is providing a valuation anchor for investors, suggesting that even moderate copper grades (0.4-0.5% Cu) are highly economic in this specific infrastructure-rich district. - Partner Commitment: Pucobre's continued involvement and the joint decision to upgrade to a PFS provide a level of technical validation that is often missing in junior explorers.

Fitzroy Minerals is a Canadian junior explorer focused on copper in Chile. The flagship project is the Buen Retiro Copper Project located 57 km southwest of Copiapó. It is an IOCG (Iron-Oxide-Copper-Gold) system situated in the world-class Punta del Cobre district. The project features a significant oxide zone (suitable for low-cost heap leaching) and deeper sulfide potential. The company also holds the Caballos Copper Project, a large-scale copper-molybdenum-gold porphyry target.