Tribeca Resources prepares for drilling at La Higuera

Executive Summary

• Tribeca Resources provided an operational update on its Jiguata porphyry copper project in Chile, highlighting geological mapping and sampling results that indicate high-sulphidation epithermal alteration systems.
• The company announced preparations for Phase 3 drilling at the La Higuera IOCG project, specifically targeting the Chirsposo Sur area, with plans to commence drilling in March 2026.
• Tribeca engaged San Diego Torrey Hills Capital Inc. for investor relations services and granted stock options to both Torrey Hills and Global Ore Pty. Ltd. for consulting and advisory services.

Key Details

• Jiguata Property Operations:

  • Geological Mapping: Mapping focused on four large alteration systems identified via satellite imagery. Identified mineral assemblages include quartz-alunite alteration and vuggy silica zones, consistent with high-sulphidation epithermal environments. Lesser propylitic and phyllic alteration was also mapped.
  • Veins and Breccias: Preliminary mapping indicates potential porphyry-related quartz-dominated veins (B-type or D-type) and multiple hydrothermal breccias with quartz-alunite matrices. At least one dacitic dome complex was mapped.
  • Structural Control: Predominant faults are oriented northeast and northwest, aligning with regional controls seen in Worldview3 data.
  • Sampling: Approximately 370 soil samples and 50 rock samples collected. Soil sampling focused on the central alteration zone using 200m x 200m or 200m x 100m staggered grids.
  • Preliminary Analysis: Portable X-ray fluorescence (pXRF) screening is underway; laboratory results are pending.
  • Satellite Data: ~100 sq km of Worldview 3 high-resolution multispectral imagery acquired in Dec 2025. False-color images highlight four alteration centres with advanced argillic to intermediate argillic alteration, coincident with strong iron oxides (gossans) and potentially jarosite.
  • Geophysics: Ground magnetic survey completed Jan 19, 2026, by Argali Geofisica. Coverage includes 200m-spaced east-west lines. Final 3-D inversion products are awaited.

• La Higuera Project (Chirsposo Sur Target):

  • Drilling Plan: Phase 3 drilling planned for March 2026.
  • Scope: Three diamond holes for approximately 1,050 metres total.
  • Targets: Two holes to test discrete magnetic highs; one hole to test a rare resistivity-low anomaly in IP data.
  • Geological Context: Chirsposo Sur is a steeply dipping north-south magnetite alteration system (1.2 km strike length). It coincides with an intense (>30 mV/V) north-south IP chargeability trend (2.4 km) and a 0.5-1.0 mgal residual gravity anomaly.
  • Historic Data: Two historic holes ~200m west intersected IOCG-style alteration with weak copper mineralization (e.g., Hole CB-02: 8m at 0.23% Cu from 38m).

• Torrey Hills Engagement (IR Services):

  • Firm: San Diego Torrey Hills Capital Inc.
  • Role: Market awareness and investor relations services.
  • Cost: $4,500 USD per month.
  • Term: Initial term of four months, automatically extending with 30-day termination notice.
  • Compensation: One-time grant of 175,000 incentive stock options.
  • Option Terms: Exercisable at 22 Canadian cents per share for three years. Vesting: 25% at 3 months, then 25% every three months thereafter.
  • Regulatory Status: Subject to acceptance by TSX Venture Exchange.

• Global Ore Option Grant:

  • Recipient: Global Ore Discovery Pty. Ltd. (or entity controlled by principals).
  • Role: Advising on exploration work at the Jiguata property.
  • Quantity: 270,000 incentive stock options.
  • Exercise Price: Higher of the closing market price on Feb 11, 2026, or the closing price on the date of the news release.
  • Term: Three years.
  • Vesting: Subject to company stock option plan and TSX-V policies.

Notable Quotes

• Dr. Paul Gow, CEO: "We are very pleased with the rapid start to the extensive field program at the exciting Jiguata property. Information coming in from the geological mapping and preliminary satellite data interpretation confirms the presence of multiple large alteration systems, importantly with a variety of alteration assemblages commonly associated with high-sulphidation epithermal environments."
• Dr. Paul Gow, CEO: "In tandem, we are moving ahead rapidly with preparations for drill testing of the Chirsposo Sur target at the La Higuera IOCG project. We intend to commence drilling in March and are eager to see what the drill core yields in this compelling target that displays coincident anomalies in multiple geophysical data sets and sitting just below shallow gravel cover."