Red Metal hires Geophysical for IR survey at Carrizal

Executive Summary

• Red Metal Resources Ltd. has engaged Geophysical Studies Chile to conduct an induced polarization (IP) survey on its 100%-owned Carrizal copper-gold-cobalt project in Chile’s Atacama region.
• The survey aims to target sulphide-associated chargeability at depths up to 500 meters to prepare for a second phase of drilling and define the full extent of the IOCG mineralization system.
• The company highlights extensive historic surface sampling showing high-grade copper and gold intercepts, with 178 samples returning over 1% Cu and 19 samples exceeding 2.0 g/t Au.

Key Details

• Survey Scope: Two IP grids are planned to target separate areas of veining:
  • Northern target: 10 lines, each 2.5 km in length (25 km total).
  • Southwestern target: 6 lines, each 2 km in length (12 km total).
  • Total survey length: 37 line km.
• Target Depth: The IP survey will target chargeability associated with sulphides at depths up to 500 meters.
• Historic Sampling Data (1996–2025):
  • Total of 317 surface reconnaissance samples collected.
  • Copper: 178 samples returned >1% Cu; 128 samples returned >2% Cu. Highest values included 17.25%, 8.0%, and 7.23% Cu.
  • Gold: 81 samples returned >0.5 g/t Au; 19 samples returned >2.0 g/t Au. Highest values included 8.4 g/t, 7.0 g/t, and 5.4 g/t Au.
• Geological Context: Carrizal hosts a structurally controlled, vein-style, iron-oxide-copper-gold (IOCG) system. Veins have been identified and sampled over more than 12 kilometers of strike length on the surface.
• Previous Drilling: Drilling has tested 1.5 km of that veining to a depth of approximately 200 meters.
• Future Work Plan:
  • Structural and geological interpretation using magnetics to map magnetite-bearing zones (IOCG veins, breccia zones, skarns).
  • Integration of 3-D IP inversions of chargeability and resistivity data with lidar-assisted structural interpretation.
  • Use of combined data to enhance confidence in drill targets, including expanding previously drilled targets and developing new ones.

Notable Quotes

• "The Red Metal team's work to date has confirmed exceptional copper and gold grades over more than 12 km strike extent of veins on the Carrizal property. By engaging Geophysical Studies Chile for this IP survey, we are taking the next step in preparing for the second phase of drilling and demonstrating the full extent of the copper-gold mineralization system." — Caitlin Jeffs, President and CEO
• "With the Carrizal property we have the potential to unlock a significant IOCG system, and we invite our shareholders to join us on this exciting journey toward discovery." — Caitlin Jeffs, President and CEO