Forte Minerals begins drilling at Pucarini

Executive Summary

• Forte Minerals Corp. has commenced its first-ever diamond drilling program at the 100%-owned Pucarini high-sulphidation gold project in Puno, Peru, marking a significant milestone after years of geological work and permitting.
• The Phase 1 program consists of five diamond drill holes totaling approximately 1,750 metres (approx. 350 m per hole) to test a potential large-scale high-sulphidation epithermal gold system.
• The company anticipates delivering first assay results in early Q1 2026, with CEO Patrick Elliott noting an expectation to share initial results with the market in December.

Key Details

• Drilling Program Scope:
  • Phase 1 consists of five diamond drill holes.
  • Total planned depth: 1,750 metres (approximately 350 m per hole).
  • Objective: Testing a potential large-scale high-sulphidation epithermal gold system.
• Geological Context & Targeting:
  • Pucarini is located in the southern Peru Miocene mineral belt, hosting epithermal gold and porphyry copper-molybdenum deposits.
  • The project features a 3.6 km by 1.8 km hydrothermal alteration footprint with high-sulphidation epithermal gold type mineralization.
  • Key features include massive/granular silica ledges, vuggy silica, and high-sulphidation alteration textures.
  • A cohesive Au geochemical anomaly spans 1,200 m by 600 m.
  • A 1,500 m by 600 m high-chargeability anomaly is coincident with a deep-rooted high magnetic susceptibility anomaly, potentially outlining a gold-copper-molybdenum porphyry system at depth.
  • Lower levels of anomalous Cu and Mo in the main target zone support the potential for a deeper porphyry target overprinted by the high-sulphidation system.
• Permitting and Community Relations:
  • DIA drilling permit secured in August 2023.
  • Renewed one-year community agreement entered into on March 1, 2025, ensuring local support for the 2025–2026 exploration program.
• Financial and Strategic Updates:
  • Forte has welcomed two new strategic investors, each investing $5.7 million, bolstering the treasury.
  • These investors bring in-country operational experience and are aligned with long-term development plans for Pucarini and the Alto Ruri Au project.
• Alto Ruri Project Update:
  • Located ~15 km from Barrick’s former Pierina mine.
  • Hosts shallow historical drilling, high-resistivity geophysical anomalies, and district-scale epithermal signatures.
  • Advancing environmental permitting is a key priority to prepare for future drilling.
• Timeline:
  • Core processing and sampling for the first drill hole are underway.
  • First assay results anticipated in early Q1 2026.
  • CEO expects to share initial results in December.

Notable Quotes

• "The start of drilling at Pucarini is a major milestone for Forte. After years of geological groundwork, permitting progress and meaningful collaboration with local communities, we are finally able to test what we believe is one of the most compelling untested high-sulphidation gold exploration targets in southern Peru." — Patrick Elliott, President and CEO
• "The scale of the alteration system, the strength of the geophysics and the consistency of the gold anomaly make this a highly attractive first-pass discovery opportunity. With drilling under way, we look forward to sharing initial results with the market in December." — Patrick Elliott, President and CEO