Cupani identifies two mineralized zones at Blue Lake

Mr. Brian Bosse reports DISCOVERY OF TWO NEW MINERALIZED ZONES AT BLUE LAKE PROJECT All assay results from 2025's mapping and prospecting program on Cupani Metals Corp.'s 100-per-cent-owned Blue Lake property have been received. The results support the newly outlined anomalous sectors discovered last year and confirm the potential of the new geological interpretation (Sept. 23 press release). Highlights of the 2025 fieldwork: 457 grab samples were collected, primarily from outcrop and felsenmeers (in situ angular blocks formed by freezing-thawing cycles, representing the underlying outcrop); Discovery of two new mineralized zones: North Retty and Retty Lake Northwest; Several sectors assayed between 0.4 and 0.83 per cent copper equivalent, the same range of values obtained from the surface sampling over the known copper-nickel-platinum-group-element deposits; The observation of net textured sulphides and sulphide blebs in several areas may indicate the proximity of Cu-Ni-PGE mineralization; Extension of the surface expression of the Blue Lake mineralized area to the south and the southeast; All surface mineralized occurrences correspond to combined magnetic and electromagnetic anomalies. New zones Retty Lake Northwest At the northwestern end of Retty Lake, following up on new electromagnetic conductors identified from the 2025 airborne survey led to the discovery of angular to subangular ultramafic felsenmeer blocks with visible mineralization. Ten angular ultramafic blocks, scattered over two kilometres, containing up to 10 per cent sulphides (pyrrhotite and chalcopyrite), were sampled, giving values between 0.42 and 0.80 per cent copper equivalent. One sample exhibited net textured sulphides while another one had small sulphide blebs. North Retty North of the Retty Lake camp, two ultramafic felsenmeer blocks were discovered at the northern edge of an interpreted ultramafic sequence. Both blocks exhibited net textured sulphides, and one had a few small chalcopyrite-rich blebs. Assay results are 0.55 per cent and 0.52 per cent CuEq. A third very rusty block, located two km to the southeast, along the same ultramafic unit, graded 0.45 per cent CuEq. Brian Bosse, chief executive officer of Cupani, commented: "I could not be happier with what Jacquelin's team accomplished in 2025. Any of these new zones could prove fruitful: They have similar geophysics and surface sample metal values to the known historical mineralization. Blue Lake North will be a drill target this winter. The entire project's opportunity set continues to improve. Other interesting results Blue Lake North These historical mineralized showings have never been drilled. Blue Lake North was previously explored by Cupani in 2024 and revisited in 2025. Additional anomalous ultramafic felsenmeer blocks were sampled, returning values from 0.35 per cent to 0.68 per cent CuEq. Most of the mineralized samples were taken over a large gravity anomaly north of Blue Lake and are coincident with mottled magnetic anomalies similar to those over the Blue Lake deposits. Cupani has revised its interpretation to include the Blue Lake North zone within the high-priority corridor. Highlights include: Two subangular peridotite blocks with 0.55 per cent and 0.68 per cent CuEq; Several subangular to rounded ultramafic blocks ranging from 0.35 to 0.47 per cent CuEq. Pogo Northwest A series of angular felsenmeer blocks of mineralized ultramafics were identified and sampled in this area. These blocks coincide with an electromagnetic conductor and magnetic anomaly aligned with the extension of the Pogo deposit. Large angular mineralized ultramafic blocks returned 0.56 per cent, 0.47 per cent and 0.40 per cent CuEq. A mineralized peridotite outcrop just north of the felsenmeers gave 0.44 per cent CuEq. A few shallow historical drill holes are in the area. Retty Lake West Ground follow-up was conducted at Retty Lake West near historical drill hole A-27. Metric-scale angular felsenmeer blocks of ultramafics were identified, trending northwest-southeast and containing up to 10 per cent visible sulphides (pyrrhotite and chalcopyrite) with net-textured sulphides. Assay results range from 0.45 to 0.52 per cent CuEq. Historical drill hole A-27, 350 metres northwest from the blocks, intersected: 0.6 per cent Cu, 0.56 per cent Ni and 0.3 per cent Zn over 0.7 m and 0.25 per cent Cu and 0.24 per cent Ni over 1.04 m. New geological interpretation: high-potential corridor The new geological interpretation at Blue Lake (Sept. 23 press release) identifies a series of ultramafic subvolcanic conduits exhibiting columnar jointing and containing net-textured sulphides and/or blebs on surface. These geological features are similar to those observed in the Raglan mining region (700 kilometres to the north). Globally, the most effective exploration strategy in such environments is to follow the fertile conduits. At Blue Lake, the conduits are expressed at surface by mottled aeromagnetic signatures and short electromagnetic conductors, bounded by kilometre-scale formational conductors. These features outline a shallow high-potential corridor measuring approximately 1.5 km wide by 15 km long, extending toward the southeast, most of which remains untested by drilling. The northwestern section of this corridor hosts nine mineralized zones originally discovered in the 1950s and extensively drilled in the 1980s. These zones contain combined historical estimate of 4.37 million tonnes grading 2.28 per cent CuEq (not National Instrument 43-101 compliant; the company believes this estimate is reasonable but cannot be relied upon as current; a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Cupani Metals is not treating the historical estimate as current mineral resources or mineral reserves). Each mineralized zone is interpreted to lie within subhorizontal magmatic conduits that dip at a very low angle to the southeast forming a shallow high-potential corridor of at least 1.5 by 15 kilometres. Following and targeting fertile conduits are an important exploration strategy in magmatic copper-nickel-cobalt-PGE environments. This newly defined high-potential corridor is the primary focus of Cupani's exploration efforts this year. A 3,000- to 4,000-metre drill program will start the first week of March, 2026. Quality assurance/quality control The surface grab samples and QA/QC samples (479 total) were analyzed by ALS Canada Laboratory by the PGM-ICP23 method for platinum, palladium and gold consisting of fire assay with ICP-AES finish and for multielement by the ME-ICP61 method including 34 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W and Zn). This method consists of a four-acid digestion with ICP-AES finish. Overlimit values of copper (greater than 10,000 parts per million) and sulphur (greater than 10 per cent) were reanalyzed by the OG62 method with four-acid digestion. ALS undertakes its own internal coarse and pulp duplicate assays to ensure proper sample preparation and equipment calibration. A total of 22 QA/QC samples (blanks and standards OREAS681, 682 and 683) were received. Twelve blanks (silica rock) and 10 standards were randomly inserted among the samples sent to ALS Canada for verification and quality control. The reference material comes from OREAS North America Inc. QA/QC and data validation were performed, and no material errors were observed. All analytical results for this press release are from surface grab samples. Qualified person The scientific and technical information in this press release was verified by Jacquelin Gauthier, PGeo, Cupani's vice-president of exploration. He is acting as the company's qualified person within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects). About Cupani Metals Corp. Cupani provides shareholders with long-term capital growth exposure by investing in mineral exploration properties. The company is listed on the Canadian Securities Exchange under the symbol CUPA. We seek Safe Harbor.