Tribeca starts fieldwork at Jiguata property

Executive Summary

• Tribeca Resources has commenced fieldwork at its Jiguata porphyry copper-molybdenum property in northern Chile, following the signing of a five-year purchase option agreement and a recent $6.5-million financing.
• The company has engaged Global Ore Discovery to provide geological guidance and is reprocessing historic IP data while planning ground magnetic surveys for late December 2025.
• At the La Higuera IOCG project, a Phase 3 drill program is planned for Q1 2026 at the Chirsposo Sur target, consisting of three holes for approximately 1,000 meters, with further drilling at the Gaby target to follow.

Key Details

• Jiguata Property Activities:
  • Field crews have mobilized to commence mapping and sampling.
  • Global Ore Discovery (GO) engaged as geological consultancy for exploration activities and drill targeting.
  • Historic induced polarization (IP) geophysical data has been reprocessed; a 3-D inversion has constrained IP chargeability anomalies and resistivity distribution.
  • Ground magnetic surveying scheduled to commence in the second half of December 2025, covering most of the 10,000-hectare property at ~200m line spacing.
  • Data acquisition (mapping, geochemistry, geophysics) anticipated to continue through March 2026, subject to weather.
  • Drill testing of targets envisaged for Q2 or Q3 2026.
• La Higuera IOCG Project:
  • Phase 3 drill program planned for Q1 2026 at the Chirsposo Sur target.
  • Initial plan: Three holes for approximately 1,000 meters total.
  • Target characteristics: Interpreted steeply dipping north-south magnetite alteration system (1.2 km strike length) under shallow gravels; coincident with a >30 mV/V IP chargeability trend stretching 2.4 km.
  • Objective: Intersect breccia-hosted copper-gold mineralization similar to the Gaby discovery.
  • Previous drilling context:
    • Gaby Target: Best intersection of 268 m at 0.66% Cu, 0.14 g/t Au, 330 ppm Co, 24.7% Fe from 52 m (hole GBY001).
    • Chirsposo Target: Best result of 167 m at 0.21% Cu, 0.06 g/t Au from 56 m (hole CHS002).
    • Chirsposo Sur Historic Holes: CB-02 intersected 8 m at 0.23% Cu from 38 m with strong magnetite alteration.
• Corporate Context:
  • Update follows a $6.5-million financing (Oct 23, 2025) and a five-year purchase option agreement for Jiguata (Oct 29, 2025).

Notable Quotes

• Dr. Paul Gow, CEO: "Following signing of the definitive purchase option agreement in late October, Tribeca Resources, has now mobilized field teams to the Jiguata porphyry copper-molybdenum property in northern Chile. An intensive phase of surface data acquisition over the coming months, in order to build a comprehensive geological, geochemical and geophysical picture of this very large alteration system, is now under way."
• Dr. Paul Gow, CEO: "At our cornerstone La Higuera IOCG project in the coastal IOCG belt, we are planning to initially drill the Chirsposo Sur target in Q1 2026. This target is entirely covered by shallow gravels, has not previously been drilled by Tribeca Resources and has a geophysical footprint with strong similarities to our Gaby IOCG discovery, four kilometres to the north. The objective at the Chirsposo Sur target is to intersect similar breccia-hosted copper-gold mineralization to that encountered over significant widths at Gaby."