Fitzroy Minerals Reports Significant Expansion at Chilean Copper Projects

Fitzroy Minerals Inc. has reported substantial progress at its Chilean copper projects, with diamond drilling extending the mineralized zone at Buen Retiro by approximately 40% to 1.4 kilometers while advancing exploration at the Caballos project. The company is now investigating fast-track production potential at Buen Retiro, with plans to complete a maiden mineral resource estimate and Preliminary Economic Assessment in 2026. Recent drilling at Buen Retiro's Southwest Area has demonstrated both scale and continuity of copper mineralization, with hole BRT-DDH-028 intersecting 133 meters at 0.46% copper in oxides from the top of bedrock.

The mineralization remains open along strike in both directions, prompting additional drilling plans for 2026. Reverse-circulation drilling has identified intrusive rocks bearing chalcopyrite and pyrite mineralization several kilometers east of the main Southwest Area, with initial assay results expected in October 2025. The company is evaluating significant infrastructure advantages at Buen Retiro that could support near-term development. The project benefits from proximity to the Pan-American highway and high-voltage transmission lines crossing the concession area, along with access to coastal infrastructure approximately 35 kilometers away and the mining hub of Copiapó about 60 kilometers distant.

Environmental baseline monitoring has already commenced as part of the permitting process. At the Caballos project, Fitzroy is expanding its drilling program to three rigs following several technical breakthroughs. Recent age-dating results have positioned Caballos within Chile's prolific Eocene-Oligocene porphyry belt, with molybdenite from the Chincolco prospect dated to 44 million years, matching the age of world-class deposits like Chuquicamata and Escondida. Additional dating from the Mule Hill prospect shows hydrothermal activity continuing until 25.5 million years ago, indicating a long-lived mineralizing system spanning nearly 19 million years.

The expanded Caballos drilling program aims to complete at least 3,000 meters of diamond drilling in 2025, with approximately 2,000 meters targeting the Chincolco Prospect and 1,000 meters at the Mule Hill Prospect. Recent mapping has identified expansion potential to the east under post-mineral cover, while re-logging of existing drill core confirmed hydrothermal breccias containing mineralized porphyry clasts, similar to other breccia-dominated systems like El Teniente. Fitzroy has also acquired 291 hectares of land in the Chincolco Valley, securing important access rights for future exploration and development.

The company maintains rigorous quality assurance procedures for its sampling programs, with certified standards from Instituto Nacional de Technologia Estandarizacion y Metrologia Ltda. used to evaluate laboratory accuracy. All technical information has been reviewed and approved by qualified person Dr. Scott Jobin-Bevans in accordance with National Instrument 43-101 standards. The combined developments at both projects underscore Chile's continued importance as a global copper jurisdiction and highlight Fitzroy's progress in advancing these assets toward potential development. The company expects to publish ongoing drilling results from Caballos in the fourth quarter of 2025 as the expanded program progresses.