Fitzroy drills 11 m of 2.28% Cu at Buen Retiro

Mr. Merlin Marr-Johnson reports FITZROY MINERALS REPORTS MULTIPLE STEP-OUT COPPER INTERCEPTS AT BUEN RETIRO, CHILE Fitzroy Minerals Inc. has provided an exploration update from its continuing 8,000-metre phase 2 drilling program at the Buen Retiro copper project, Copiapo, Chile. Today's release reports assay results from diamond drill holes 21, and 23 to 27, which are all located in the southwest area of the project. Copper mineralization was intersected in all drill holes, and the extent of mineralization along strike has been increased to 985 m. In addition, definition of continuity has improve,d and the average distance between holes along strike has been reduced to approximately 100 metres. Furthermore, as the trends of the southwest and south areas converge, wider zones of mineralization have been identified. Between holes 21 and 24, several zones of shallow mineralization are present over 360 m of lateral extent. Oxide and mixed minerals in the southwest area are typically seen down to vertical depths of approximately 150 metres along the main trend. Assays are pending for holes 28 to 33, and will be reported soon. Holes 29 and 31 are testing a further 300 m of strike length in the southwest area. Reverse circulation drilling in the north area at Buen Retiro is anticipated to start soon. The RC program will target hangingwall copper mineralization on a multikilometre geophysical anomaly that is interpreted to be shear zone related and oxidized down to a depth of approximately 90 metres. Previously reported intersections in this area include 59 m of 0.39 per cent from surface in hole 16. Highlights: Hole 27 intersected several mineralized zones from top of bedrock (at 49 m downhole) to a downhole depth of 314 m, including 119 m of 0.53 per cent Cu in oxides from 49 metres, and 23 m of 0.5 per cent Cu in wall rock sulphides from 245 m. Holes 10, 21 and 24 show several discrete mineralized intersections in a 360-metre-wide zone. Hole 25 returned 32 m of 0.90 per cent copper from two m, including 11 m of 2.28 per cent Cu from 11 m, confirming oxide and secondary sulphide mineralization at the northwestern extremity of the southwest area. The strike extent in the southwest area is at least 985 metres and open along strike. Merlin Marr-Johnson, chief executive officer of Fitzroy, commented: "Drilling at Buen Retiro continues to demonstrate good copper grades and thicknesses below the gravels in the southwest area, which is great news. Our drilling takes the proven strike length of the system to almost one km long, and the wide and shallow mineralization we are finding will increase the dimensions of any potential future pit. "More holes are pending from the southwest area, and our focus is on stepping out to drill shallow material that we think will leach well. Our ongoing exploration of this major copper system will expand to include shallow reverse circulation drilling in the north area and at regional targets, and diamond drilling to further test the sulphide potential at depth. "These continued good results in shallow oxide and mixed material in the southwest area encourage us to accelerate ongoing resource delineation and technical derisking work. Fitzroy aims to advance towards production at Buen Retiro as quickly as possible while continuing exploration within the wider project area. Any development is likely to have capital efficiencies thanks to a mineral suite that is commonly treated in heap leach operations in Chile, as well as benefiting from existing infrastructure advantages. The infrastructure at Buen Retiro is excellent as it is close to the Pan-American Highway, high-voltage transmission lines, the mining centre of Copiapo and it is a brownfield site without any residents." Geological interpretation and expansion potential Today's release reports assay results from diamond drill holes 23 to 27, as well as new results from the lower part of drill hole 21 that were pending at the time of the June 6, 2025, news release. Copper mineralization was intersected in all drill holes, and the boundaries of known mineralization have been expanded. Diamond drilling is continuing in the southwest area, and RC drilling in the north area at Buen Retiro and Sierra Fritis is anticipated to start soon. Extensions to known mineralization in the southwest area were identified to the southeast by drill hole 27 and to the northwest by hole 26. In addition, a zone of shallow mineralization extending over 360 m across strike was identified where the southwest area converged with the south area across 21, 24 and hole 10 (drilled in phase 1). Drill holes 28 to 33 have been completed, and assays are pending. Copper mineralization was intersected in all holes (23 to 27, and results from the lower part of hole 21), and the boundaries of known mineralization have been expanded. Mineralization is dominated by tenorite as fracture infill, veinlets and clusters, as well as chrysocolla and occasionally cuprite, chalcocite and minor native copper. Diamond drilling is continuing in the southwest area, and RC drilling in the northern area at Buen Retiro is anticipated to start soon. Drilling at Buen Retiro (23, 25, 26 and 27) was angled holes, drilled toward the northeast to test the strike potential of the southwest area. Hole 24 was set back to the southwest to test the western limits of the system given that several holes along the main trend had started in mineralization underneath gravel cover. Drill hole 21 was extended from the south area over to the southwest area at depth. BRT-DDH027 Drill hole 27 was a 110-metre stepout to the southeast of hole 10, and was located on the fringe of a coincident induced polarization and magnetic anomaly, returning 119 m at 0.53 per cent Cu from 49 metres. Younger gravels increase in thickness to the southeast, and drill hole 27 was mineralized directly from bedrock at a downhole depth of 49 m, starting with a grade of 0.57 per cent Cu. The host rock is a highly altered and brecciated andesite with strong albite alteration. The white coloration of albite alteration is a recognized feature of iron oxide copper/gold mineralization in the wider Candelaria-Punta-del-Cobre district. In places, hematite and magnetite breccias dominate, some times forming massive veins. Mineralization in hole 27 is very consistent to a downhole depth of 168 m. At a downhole depth of 110 m, a zone with abundant tenorite and several veins of native copper returned 26 m of 0.91 per cent Cu. Beyond 180 m, the andesites were markedly less albitized although still punctuated by breccias and occasional massive hematite or magnetite veins. The angled hole crossed the main subvertical target and into surrounding wall rock. Interestingly, as the hole progressed through wall rock, disseminated chalcopyrite was occasionally evident, returning mineralized zones of 52 m of 0.20 per cent Cu from 175 m; 23 m of 0.50 per cent Cu from 247 m; and 15 m of 0.22 per cent from 299 metres. Mineralization in drill hole 27 confirms the good widths of oxide and transition copper minerals to a vertical depth of about 150 metres. The identification of mineralization on the fringes of the main geophysical anomalies and in surrounding wall rock is a positive development as it increases the prospectivity of the Buen Retiro concessions. The intersection of sulphide mineralization to a downhole depth of more than 300 m highlights the scale potential of the Buen Retiro IOCG system. BRT-DDH023, BRT-DDH025 and BRT-DDH026 Drill holes 23, 25 and 26 were drilled in the northwest end of the southwest area. Hole 25 intersected 32 m of 0.90 per cent Cu from two m, including 11 m of 2.28 per cent Cu from 11 m, and various less significant copper mineralized zones, including 24 m of 0.14 per cent Cu from 72 metres. Hole 26 intersected 27 m of 0.35 per cent from 10 m, followed by sporadic isolated copper mineralized sections. Hole 23 was the least mineralized hole in the southwest area to date, returning six m of 0.30 per cent Cu from 191 metres. BRT-DDH021 and BRT-DDH024 In the company's news release from June 6, 2025, partial results were published from hole 21. Subsequent to that date, the drill hole was re-entered and continued to a downhole depth of 340 metres. The prior published intersection was 35 m of 0.30 per cent Cu from 115 metres. Fitzroy reports an intersection of 77 m of 0.33 per cent Cu from 115 m, including 11 m of 0.86 per cent Cu from 180 metres. Hole 24, collared to the west of the main trend, intersected two zones of copper mineralization: 20 m of 0.24 per cent Cu from 23 m and 43 m of 0.22 per cent Cu from 65 metres. Holes 21 and 24 flank hole 10, which was drilled in 2024. Hole 10 returned 124 m of 0.32 per cent Cu from the start of bedrock at 22.5 m, including 57.5 m of 0.51 per cent Cu from 32 m. Altogether, the three holes are almost all on the same section line and demonstrate over 360 m of mineralization in a broadly east-northeast to west-southwest direction across the main strike direction of the southwest area. The geology of the southwest area is highly dynamic, with a significant amount of high-energy brecciation evident in the rocks. Within these megabreccias, there is also a large amount of faulting of various ages. Fitzroy is still building a picture of the tectonic evolution of the southwest area, and it is possible that the wider zone of surface mineralization may represent structural repetition. Notwithstanding its origins, it is encouraging to see such a wide and shallow zone of copper mineralization. Next steps Diamond drilling continues at Buen Retiro with an emphasis on testing extensions and limits to known mineralization in the southwest area. Assays for holes 28 to 33 are pending, and results will be released shortly. In separate developments, the company is in the final stages of contract negotiations on an RC drilling program of at least 5,000 metres. As soon as the rig is mobilized, it will be deployed into the Sierra Fritis targets, followed by work in the north area, targeting shallow hangingwall copper oxide mineralization on a multikilometre geophysical anomaly that is interpreted to be shear zone related. Sampling procedures, laboratory and quality assurance/quality control Drill core in labelled and secured wooden core trays is picked up by company personnel and transported by truck from the drill rig to the core processing facility in Copiapo. Core depths are checked, after which geotechnical logging is performed. Using a core cutting diamond blade saw, primary half core samples are collected from HQ- or NQ-sized drill core with the remaining half-core stored in the original wooden core trays at the rented core storage warehouse in Cuesta Cardones, south of Copiapo. Silica blank are inserted every 20 samples (approximately 20 m). A blank is always inserted immediately after a section that contains native copper. Pulp duplicates are randomly selected in proportion to the number of samples from each drill hole and inserted into the sample stream along with high-, medium- and low-grade copper standards. Sample identifications are changed and coded by the company. The QA/QC samples prepared by the company represent about 12 per cent of the total primary core samples. The three copper standards (both oxide and sulphide), acquired from Chilean company Instituto Nacional de Technologia Estandarizacion y Metrologia Ltda., all have international standard certification. The certified standards are used to evaluate the accuracy (approximation versus true value) of the laboratory analysis. Blanks are used to evaluate the quality of the laboratory preparation and identify possible contamination. Pulp duplicates are used to test analytical accuracy (repeatability). No secondary laboratory (referee lab) samples were completed in this round of drilling; however, the next stage and subsequent stages of drilling will put in place laboratory replicate procedures. Once prepared, the core samples are bagged, tagged and transported to the laboratory by the project team. At the laboratory reception, the samples and their identification codes are verified and accepted once the physical inventory matches the assay request form. The pulps and rejects of crushed samples are collected from the ALS-Patagonia laboratory in Copiapo every three months. The rejects are stocked in closed drums, identified with the corresponding batches and sample ranges, while the pulps are stocked in boxes and in shelves inside a container separated for this purpose. Both are located in the same warehouse facilities. A visual review of the QA/QC results from the standards and blanks inserted by the company and the laboratory's internal QA/QC information was completed by the company, and no significant issues were identified. Qualified person Dr. Scott Jobin-Bevans (PGeo, PhD, PMP), a qualified person as defined by National Instrument 43-101, independent geological consultant to the company, has reviewed and approved the technical information provided in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release. Specifically, the QP verified laboratory assay certificates against the reported drill core intervals, as well as drill core logs against the geology, as supplied by the company. About Fitzroy Minerals Inc. Fitzroy Minerals is focused on exploring and developing mineral assets with substantial upside potential in the Americas. The company's current property portfolio includes the Buen Retiro copper project located near Copiapo, Chile, the Caballos copper, and the Polimet gold-copper-silver projects located in Valparaiso, Chile, the Taquetren gold project located in Rio Negro, Argentina, and the Cariboo project in British Columbia, Canada. Fitzroy Minerals' shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF. We seek Safe Harbor.