Tribeca signs definitive agreement to acquire Jiguata

Dr. Paul Gow reports TRIBECA RESOURCES SIGNS DEFINITIVE OPTION AGREEMENT TO ACQUIRE THE JIGUATA PORPHYRY COPPER PROPERTY IN NORTHERN CHILE Tribeca Resources Corp., further to the company's news release dated June 19, 2025, has entered into a definitive option agreement dated Oct. 28, 2025, with private arm's-length vendors to acquire a 100-per-cent interest in the 10,000-hectare Jiguata porphyry copper property over a period of five years. The Jiguata property, located in northern Chile, 120 kilometres (km) north of the major mining company controlled Collahuasi and Quebrada Blanca mines, will be progressed in parallel with the company's two existing projects: La Higuera and Chiricuto, both located in the Chilean coastal IOCG (iron oxide, copper and gold) belt. Highlights: Large epithermal and interpreted porphyry alteration system in the northern extension of the prolific Chilean porphyry-bearing Eocene-Oligocene belt, with partial overprint and cover by younger Miocene age rocks; Drive-up access via paved Collahuasi road, nearby accommodation and associated infrastructure; Soil sampling, historic drilling, geological mapping and geophysics highlight a large five km by three km exploration target zone, with two existing discrete near drill-ready targets; Under the option agreement, during the first two years, Tribeca will make staged cash payments totalling $100,000 (U.S.) and undertake a minimum of 3,000 metres (m) of drilling; Predrilling activities at the Jiguata property will be undertaken in parallel with further drilling at the company's flagship La Higuera property. Tribeca Resources chief executive officer Dr. Paul Gow commented: "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." "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." The Jiguata property option agreement Tribeca has entered into a five-year option agreement, giving it the right, but not the obligation, to acquire a 100-per-cent interest in the Jiguata property. Tribeca has made a payment to the vendors of $25,000 (U.S.) in connection with signing of the definitive option agreement and will reimburse the project vendors approximately $44,000 (U.S.) for the 2025 licence fee already paid by them. Under the terms of the option agreement, the total consideration and required work commitments, as applicable, will be as detailed in the attached table, on a yearly basis. Upon exercise of the purchase option (which remains at the sole discretion of the company), the project vendors will retain a 2.0-per-cent net smelter return (NSR) royalty over the Jiguata property. Tribeca will have a right to repurchase 100 per cent of the NSR royalty for $20-million (U.S.). For more information regarding the terms of the option agreement, please see the company's news release dated June 19, 2025. The Jiguata property comprises 34 exploration concessions covering 10,000 hectares and is located in the northern extension of the Eocene-Oligocene metallogenic belt of northern Chile, where it has been overprinted by the Miocene magmatic belt. The prolific Eocene-Oligocene belt hosts the giant Collahuasi, Chuquicamata and Escondida deposits. The project area encompasses a large advanced argillic alteration zone (25 square km) hosted within a volcanic tuffaceous unit under a thin blanketing cover of fresh unaltered Miocene dacitic volcanic rocks dated at approximately nine to five million years. The alteration zone has been exposed via erosional windows in the overlying Miocene volcanic rocks. Tribeca Resources plans to extend the historic mapping and surface sampling and undertake additional geophysics prior to proceeding with drilling at the Jiguata property. Tribeca Resources will be the operator of the project. Tribeca confirms that there are no finders' fees payable in connection with the entering into of the option agreement. The company's entry into the option agreement and any future acquisition within the Jiguata property remains subject to the approval of the TSX Venture Exchange. Finders' fees in connection with the company's non-brokered private placement offering In connection with the closing of the company's non-brokered private placement offering of units further described in its news release dated Oct. 23, 2025, the company previously announced that it had paid an aggregate of approximately $248,694 and issued finders' warrants to acquire up to an aggregate of 1,184,257 common shares of the company as finders' fees to certain eligible finders in consideration for introducing certain purchasers to the company. The company wishes to clarify that it has also paid an additional $3,717 and issued an additional 17,700 finders' warrants as finders' fees to certain eligible finders. As a result, the company paid an aggregate of approximately $252,411 and issued an aggregate of 1,201,957 finders' warrants to eligible finders in connection with the offering. Qualified person All scientific and technical information in this news release has been prepared by, or approved by, Dr. Gow, who is the chief executive officer of Tribeca Resources. He is a member of the Australian Institute of Geoscientists (MAIG), a member of the Australasian Institute of Mining and Metallurgy (MAusIMM), and a qualified person for the purposes of National Instrument 43-101. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera property, the Chiricuto property and the Jiguata property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera, Chiricuto or Jiguata properties. About Tribeca Resources Corp. Tribeca Resources is a copper exploration company focused on discovering and developing assets in the coastal IOCG belt of northern Chile. The company's management team, whose members are significant shareholders of the company, has world-leading expertise and a discovery history with IOCG deposits in the world's great IOCG belts of the Caraj as district in Brazil, and the Gawler and Cloncurry provinces of Australia. Tribeca Resources' objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid- to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery. Tribeca Resources' flagship property is the La Higuera property that comprises 4,147 hectares of granted mining and exploration licences, and is located toward the southern end of the Chilean coastal IOCG belt in the Coquimbo region of northern Chile. Further information about the project can be found in the NI 43-101 technical report lodged by Tribeca Resources on SEDAR+ on Oct. 24, 2022. We seek Safe Harbor.