Coppernico Receives Final Drill Permit and Outlines Multi-Target Drill Program at Sombrero

Coppernico Metals Inc. (COPR) has received final Start-of-Activities authorization from Peru's Ministry of Energy and Mines (MINEM) for its expanded Phase 2 drilling program at the Sombrero Project. The permit covers approximately 3,122 hectares and authorizes up to 300 drill holes across 181 platforms under the EIA-Sd approved on August 10, 2026.

The company is launching a Phase 2 program of approximately 20,000 meters across nine targets. Initial drilling is focused on the Fierrazo target, where site preparation is underway. Funding for the initial drilling phase is confirmed, with preparations already in progress.

The target breakdown includes expanding Fierrazo, first-ever drilling at Nioc and Tipicancha, and testing concealed geophysical anomalies at Chumpi, Hojota, Corrales, and Huachana. Historical context provided for Fierrazo (90.4m at 0.48% Cu, 0.05 g/t Au), Nioc (155m at 0.54% Cu), and Tipicancha (22m at 0.65% Cu) notes that true widths remain unknown.

CEO Ivan Bebek highlighted the authorization as a significant milestone that substantially expands exploration opportunities and confirmed the company is funded to begin drilling.

Coppernico Metals Inc. (COPR) has advanced its exploration program as a routine execution step following the expanded permit approval on August 10, 2026, and the financings secured in June and August 2026 that provided the necessary capital. The program scope, target list, and funding status align precisely with prior management guidance and the company's stated 2026-2027 exploration roadmap.

Securing the final regulatory approval and confirming initial funding removes execution uncertainty for the near term, validating the company's operational progress. The update does not introduce new geological data, revised resource estimates, or unexpected capital requirements. It confirms the pathway to drilling rather than altering the fundamental exploration thesis. Market expectations for permit approval and drilling commencement were already priced in through the recent price action and prior announcements, making this a positive but expected milestone.

Coppernico Metals Inc. is an exploration-stage company focused on the Sombrero Project in the Ayacucho region of Peru. The land package spans approximately 57,000 hectares, encompassing multiple high-priority copper-gold targets. The flagship project features skarn and porphyry systems, with Fierrazo identified as the most advanced target. The company is in the exploration and drilling phase, advancing geological modeling, geophysical surveys, and community engagement to prepare targets for resource definition.