Tribeca signs definitive agreement to acquire Jiguata

Executive Summary

• Tribeca Resources Corp. has signed a definitive five-year option agreement to acquire a 100% interest in the 10,000-hectare Jiguata porphyry copper property in northern Chile.
• The transaction requires staged cash payments totaling $100,000 USD over the first two years and a minimum of 3,000 meters of drilling.
• Upon exercise of the option, vendors retain a 2.0% Net Smelter Return (NSR) royalty, which Tribeca has the right to repurchase for $20 million USD.

Key Details

• Target Asset: Jiguata porphyry copper property, comprising 34 exploration concessions covering 10,000 hectares.
• Location: Northern Chile, 120 km north of the Collahuasi and Quebrada Blanca mines, within the prolific Eocene-Oligocene metallogenic belt.
• Geological Context: Large epithermal and interpreted porphyry alteration system (25 sq km advanced argillic alteration zone) hosted in volcanic tuffaceous units, partially covered by Miocene age rocks.
• Exploration Targets: Soil sampling, historic drilling, and geophysics have identified a 5 km by 3 km exploration target zone with two discrete near drill-ready targets.
• Option Terms (Years 1-2):
  • Staged cash payments totaling $100,000 USD.
  • Minimum work commitment of 3,000 meters of drilling.
  • Initial payment of $25,000 USD upon signing.
  • Reimbursement of approximately $44,000 USD for 2025 license fees already paid by vendors.
• Royalty Structure: Vendors retain a 2.0% NSR royalty upon exercise of the purchase option.
• Royalty Buyback: Tribeca holds the right to repurchase 100% of the NSR royalty for $20 million USD.
• Strategic Context: Jiguata will be progressed in parallel with existing projects La Higuera and Chiricuto. Drilling is planned at both La Higuera and Jiguata over the next 12 months.
• Regulatory Status: Subject to approval by the TSX Venture Exchange.
• Finders' Fees: No finders' fees are payable for the Jiguata option agreement. (Note: The release also clarifies aggregate finders' fees of ~$252,411 USD and 1,201,957 warrants related to a separate non-brokered private placement closed on Oct 23, 2025).

Notable Quotes

• Dr. Paul Gow, CEO: "We are very pleased to have now signed the definitive option agreement for this exciting porphyry copper exploration opportunity at Jiguata. Following the successful financing last week, preparations now are under way to commence fieldwork at Jiguata in the coming weeks."
• Dr. Paul Gow, CEO: "The next 12 months will be a period of high activity for Tribeca, with drilling planned at our cornerstone La Higuera property, as well as at the Jiguata property. Our now expanded portfolio of three high-potential Chilean copper projects positions Tribeca Resources to capitalize on growing interest in quality copper exploration."