Red Metal Initiates IP Survey on its Carrizal Copper-Gold-Cobalt Project

Executive Summary

• Red Metal Resources has engaged Geophysical Studies Chile to conduct an Induced Polarization (IP) survey over its 100% owned Carrizal Copper‑Gold‑Cobalt Project in Chile’s Atacama Region.
• The IP program will cover two grids totaling 37 line‑kilometres, targeting chargeability associated with sulphides at depths up to 500 m to delineate the IOCG system and guide a second phase of drilling.
• Historic surface sampling on Carrizal shows high‑grade copper (up to 17.25% Cu) and gold (up to 8.4 g/t Au), supporting the potential for a significant mineralized zone.

Key Details

• Survey Contractor: Geophysical Studies Chile, La Serena, Chile.
• Survey Type: Induced Polarization (IP) – aims to map sulphide chargeability to ~500 m depth.
• Grid Layout:
• Northern target – 10 lines × 2.5 km = 25 km total.
• Southwestern target – 6 lines × 2 km = 12 km total.
• Combined length = 37 line‑kilometres.
• Project Background:
• Carrizal hosts a structurally controlled, vein‑style Iron Oxide Copper‑Gold (IOCG) system with >12 km of strike‑length veining identified and sampled.
• Drilling has intersected 1.5 km of veining to ~200 m depth; IP will extend exploration to 500 m.
• Historic Surface Sampling (1996‑2025):
• 317 samples collected.
• Copper: 178 samples >1% Cu, 128 samples >2% Cu; highest grades 17.25%, 8.0%, 7.23% Cu.
• Gold: 81 samples >0.5 g/t Au, 19 samples >2 g/t Au; highest grades 8.4, 7.0, 5.4 g/t Au.
• Management Commentary: President & CEO Caitlin Jeffs highlighted the confirmed exceptional grades over a broad strike length and described the IP survey as the next step toward a second drilling phase and full system delineation.
• Next Steps:
• Magnetics to map magnetite‑bearing zones.
• Integration of 3D IP inversions, resistivity data, and LiDAR‑assisted structural interpretation for refined drill targeting.
• Use combined geophysical and geological data to plan expanded drilling programs on existing and new targets.
• Qualified Person: Caitlin Jeffs, P.Geo., reviewed and approved the technical content per NI 43‑101.

Notable Quotes

“The Red Metal team's work to date has confirmed exceptional copper and gold grades over more than 12 km strike extent of veins on the Carrizal Property. By engaging Geophysical Studies Chile for this IP survey, we are taking the next step in preparing for the second phase of drilling and demonstrating the full extent of the copper‑gold mineralization system.” – Caitlin Jeffs, President & CEO

All boilerplate, forward‑looking statements, and company background have been omitted for brevity.