Aterra begins 3,000 m phase I drill program at Totora

Executive Summary

• Aterra Metals Inc. has initiated a 3,000-meter Phase I drill program at its Totora copper-gold project in Chile, targeting the Totora and Frontera porphyries to verify historical data and expand known mineralization.
• The company aims to release an updated resource estimate in Q3 2026, which will integrate Phase I assay results with 15 years of historical drilling.
• To concentrate exploration capital and management focus, Aterra has terminated the option agreement for its Angie property.

Key Details

• Drill Program Scope: 3,000 meters total Phase I program, consisting of a 2,500-meter reverse circulation (RC) drill program at the Totora porphyry and approximately 500 meters of diamond drilling at the Frontera deposit.
• Project Location & Tenure: Totora copper-gold project, Region III, Chile, located 60 km south of Vallenar, covering 1,811 hectares.
• Geological Target: Four near-surface copper-gold porphyries identified; Phase I prioritizes the Totora and Frontera deposits.
• Historical Drilling Context: New drilling adds to 10,000 meters of historical work that outlined a porphyry system along an 800+ meter strike length, extending from surface to depths of up to 500 meters downhole.
• Key Historical Intercept: Drill hole DDHTP-02 reported 142 meters grading 0.58% CuEq (0.47% Cu, 0.17 g/t Au), including a 72-meter interval grading 0.83% CuEq (0.64% Cu, 0.26 g/t Au).
• Resource Estimate Timeline: Targeted for publication in Q3 2026.
• CuEq Calculation Methodology: Based on $4.00/lb Cu and $3,500/oz Au prices, utilizing an 85% metallurgical recovery assumption for both copper and gold.
• Portfolio Adjustment: Option agreement for the Angie property terminated to reallocate focus and resources to the Totora project.
• Qualified Person: Francisco Bravo, Chief Geologist, reviewed and approved technical information per NI 43-101.

Notable Quotes

• Carl Hansen, CEO: "Now that our geological team has completed relogging the majority of the historical drill core from the Totora project, we have gained a more fulsome understanding of the relationship between copper-gold grades and geology (lithologies, alteration and structure). Based upon our review, we have designed a drill program that prioritizes: (1) the confirmation of the historical drill results; and (2) increasing the size of the copper-gold porphyries. Our goal is to publish a resource estimate during the third quarter of 2026 integrating our phase I drill assay results with the significant historical drilling completed on the Totora project over the past 15 years."