Fitzroy Minerals Reports 2.96% Copper from Channel Samples at Buen Retiro, Chile; Drilling Continues to Expand Mineralization

Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) has reported channel sample results averaging 2.96% copper from the historical Buen Retiro open pit at its 100%-owned Buen Retiro Copper Project near Copiapo, Chile. The company is advancing the project with three diamond drill rigs and a planned reverse circulation rig as it works toward a Pre-Feasibility Study expected in Q1 2027.

The channel sampling program collected 21 one-metre samples from mineralized outcrop within the pit, with grades ranging up to 10.68% Cu. Seventeen samples exceeded 1.0% Cu, and four surpassed 5.0% Cu. Historical drill hole BRT-DDH-013, drilled by Ptolemy Mining Ltd in 2024, intersected two high-grade intervals: 7 metres at 2.78% Cu from 130 metres and 30 metres at 3.52% Cu from 141 metres, located approximately 30-55 metres below the current pit floor. These results highlight the potential for additional copper mineralization beyond the historical oxide-only mining.

Drilling continues to intersect oxide and mixed copper mineralization. Diamond drill hole BRT-DDH099, located 70 metres south of the pit, intersected 113 metres of tenorite (CuO) mineralization from 3.5 metres downhole, estimated to average approximately 1.0% Cu. The sample has been submitted for over-limit analysis as it exceeds the regular exploration assay limit of 1% Cu. The company has drilled over 10,000 metres in 2026, expanding the original 7,000-metre plan due to continuous shallow mineralization.

Merlin Marr-Johnson, President and CEO of Fitzroy, stated: “Channel sample results averaging around 3.0% Cu and historical drill results of 30 metres at 3.52% Cu showcase the type of copper mineralization that Fitzroy is targeting in the Pit Area. Historical production focused on Cu-oxide material only, and our analysis shows that a meaningful amount of mixed and transition copper material was left behind, which can be recovered with our planned chloride-leach process.”

The company is mitigating assay delays from ALS Global by sending samples from the Pit Area to SGS Laboratories in Santiago, Chile, and using visual grade estimation to expedite over-limit analysis. Metallurgical test work is underway, with mini-column results expected in July. The company plans to apply a data cut-off for resource drilling at the end of July to allow for modeling and integration into a Project Development Plan, supporting an Environmental Permit Application scheduled for October 2026. The Pre-Feasibility Study is on track for completion in Q1 2027.

Fitzroy also completed a Fleet Space Technologies Ambient Noise Tomography survey in May, which identified zones of elevated fracturing and host-rock alteration. The company is working with Pucobre S.A. on engineering and commercial aspects of the Heap Leach Development Plan following a Letter of Intent signed in April.

The Buen Retiro project benefits from proximity to processing and transport infrastructure, low elevation, no human habitation, and a brownfields site in Chile with pro-mining legislation. Fitzroy aims to take the project through study phases and into production in 2028.

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