Fitzroy Minerals Intersects 59.0 Metres at 1.73% Copper at Buen Retiro & Expands 2026 Drilling to 22,000 Metres

• A drill hole returned 59.0 metres at 1.73% copper from 92.0 metres depth, including 12.0 metres at 5.39% copper.
• A second hole returned 76.0 metres at 0.74% copper from 69.0 metres depth, including 13.0 metres at 3.62% copper.
• The results cover 9 drill holes in the Southwest Area of the Buen Retiro Copper Project in Copiapó, Chile.
• The 2026 exploration and resource-definition drill programme has expanded to approximately 22,000 metres.
• Fitzroy has completed 67 drill holes totalling 10,583 metres since the start of February 2026, working toward a maiden mineral resource estimate.

Company Overview

Fitzroy Minerals (TSXV: FTZ | OTCQX: FTZFF) is a copper-focused exploration and development company with assets in the Americas. Its portfolio includes the Buen Retiro Copper Project near Copiapó, Chile; the Caballos Copper and Polimet Gold-Copper-Silver projects in Valparaiso, Chile; the Taquetren Gold Project in Rio Negro, Argentina; and the Caribou Project in British Columbia, Canada.

Drill Results

Fitzroy reported assay results from 9 diamond drill holes in the Southwest Area of Buen Retiro. The strongest intersection returned 59.0 metres at 1.73% copper from a depth of 92.0 metres, including a higher-grade interval of 12.0 metres at 5.39% copper from a depth of 136.0 metres. A second hole returned 76.0 metres at 0.74% copper from 69.0 metres depth, including 13.0 metres at 3.62% copper from 106.0 metres depth.

Other holes extended the mineralised zone, including 80.2 metres at 0.65% copper from 20.8 metres depth, with a higher-grade interval of 22.0 metres at 1.32% copper, and 49.0 metres at 0.92% copper from 67.0 metres depth. Reported intervals are estimated to be 80% to 90% of the true thickness.

Expanded Drill Programme

Fitzroy has expanded its 2026 exploration and resource-definition drilling at Buen Retiro to approximately 22,000 metres, citing the continued intersection of shallow mineralisation. Three diamond drill rigs are operating at the site, with a reverse-circulation rig to be added shortly. 2 rigs are currently testing extensions of the Southwest Area, with step-outs to the northwest and southeast.

Resource Definition Progress

Since the start of February 2026, Fitzroy has completed 67 drill holes totalling 10,583 metres, comprising 49 infill holes, 6 geotechnical holes, and 12 exploration holes. The work supports a maiden mineral resource estimate centred on the Southwest Area, the timing of which has been extended as additional mineralisation continues to be identified.

Processing Route & Infrastructure

The company describes the Buen Retiro mineralisation as near-surface and leachable, located near infrastructure in Chile. One option under evaluation is to produce a soluble copper sulphate concentrate on site that could be trucked and processed into copper cathodes at any of 3 electrowinning plants within a 90-kilometre radius.

President and Chief Executive Officer of Fitzroy Minerals, Merlin Marr-Johnson, frames the opportunity this way:

"What makes it so valuable is that this is near-surface, leachable material, near infrastructure in Chile. We see a route to near-term copper cathode production with reduced capital requirements and reduced permitting timelines."

Laboratory & Assay Turnaround

Laboratory turnaround times with ALS Global have been slow, with delays of up to 3 months. To mitigate this, Fitzroy is planning exploration holes using visual grade estimation and has contracted SGS Laboratories, with all samples associated with the Pit Area sent to SGS, so that each main area of interest is defined by a single laboratory.

Next Steps

Drilling continues toward the expanded 22,000-metre programme and the maiden mineral resource estimate for the Southwest Area. Fitzroy plans to release drill results on a monthly basis.

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