Revised: Deep IP Survey Identifies Multiple Large Chargeability Anomalies Linked to Copper-Molybdenum-Gold Drill Hole Intercepts at the Caballos Copper Project, Chile

Fitzroy Minerals Inc. (FTZ) announced the results of a ground-based Deep Induced Polarization (IP) and Magnetotellurics (MT) survey at its Caballos Copper Project in Chile. The survey identified multiple large chargeability and resistivity anomalies, specifically C2-B, C4, and C3, which are interpreted as consistent with porphyry-style hydrothermal systems. These anomalies align with prior geophysical data and 2025 drill intersections, particularly at the Chincolco Prospect.

The company has planned a Phase 2 diamond drilling program of approximately 5,500 meters across five holes to test these targets. Drilling operations are anticipated to begin in September 2026. Management states that future exploration drilling will be funded by non-dilutive cash flow from the Buen Retiro Heap Leach operation.

Fitzroy Minerals Inc. (FTZ) has completed a Deep IP survey, the anticipated follow-up to the heli-borne MobileMT survey finished in April 2026. That earlier survey identified a 5 km diameter porphyry-related conductive anomaly. Converting conductivity to chargeability serves as a standard de-risking step prior to diamond drilling, with the new results confirming the viability of planned targets and validating the company's exploration model.

The announcement aligns with previous expectations and management guidance regarding the Caballos Phase 2 program. It carries no new financial impact, resource estimate, or change to the production timeline, serving instead as an operational milestone that confirms the September 2026 drilling start date. Additionally, the company’s claim of non-dilutive funding via Buen Retiro cash flow is forward-looking and contingent on the successful advancement of the heap leach project, which is currently in the Pre-Feasibility Study (PFS) stage.

Fitzroy Minerals Inc. (FTZ) is a copper exploration and development company focused on projects in Chile and Argentina. Its flagship asset is the Buen Retiro Copper Project, a district-scale IOCG system located near Copiapó, Chile. The project features a heap leach development opportunity in partnership with Pucobre S.A., targeting production in early 2028.

The company also holds the Caballos Copper Project, a porphyry target in Valparaíso, Chile, which contains known Cu-Mo-Au mineralization and a large concealed system. Fitzroy Minerals is currently in the exploration and development stage, advancing resource definition, metallurgical testing, and permitting.