Fitzroy Minerals Reports Wide, Shallow Copper Intercepts at the Tenorita Area, Buen Retiro

• Drilling returned 111.9 metres (m) at 0.97% copper from 21 m depth, including 18 m at 1.59% copper from 84 m depth.
• A second hole returned 147.7 m at 0.41% copper from 26 m depth, including 47 m at 0.88% copper from 113 m depth and 27 m at 1.20% copper from 133 m depth.
• Results from 15 drill holes are reported across the Tenorita area, a 1.7-kilometre (km) trend of copper mineralisation southwest of the historical Manto Negro open pit.
• The intercepts confirm consistent shallow mineralisation in leachable material across roughly 300 m in the widest part of Tenorita.
• Fitzroy has completed 78 diamond drill holes for 13,036 m since the start of February 2026 and is running four drill rigs at the project.

Company Overview

Fitzroy Minerals (TSXV: FTZ | OTCQX: FTZFF | FSE: C3Y) 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.

Tenorita Drilling Results

The 1.7-kilometre (km) trend of copper mineralisation southwest of the historical Manto Negro open pit has been renamed Tenorita, and results from 15 drill holes in the area are reported in this release. The best of these returned 111.9 metres (m) at 0.97% copper from 21 m depth, including intervals of 19 m at 1.50% copper from 32 m depth, 18 m at 1.59% copper from 84 m depth, and 18 m at 1.91% copper from 111 m depth. A second hole returned 147.7 m at 0.41% copper from 26 m depth, including 47 m at 0.88% copper from 113 m depth and 27 m at 1.20% copper from 133 m depth.

A cross-section through the south-central portion of Tenorita shows broad, shallow mineralisation covering approximately 300 m east to west. The best hole lies east of the second, confirming consistent shallow mineralisation across the widest part of the area.

President and Chief Executive Officer of Fitzroy Minerals, Merlin Marr-Johnson, is direct about the results:

"Buen Retiro continues to deliver excellent results and several of the fifteen drill holes reported today reflect wide zones of mineralization in leachable material close to surface."

Drilling Overview & Programme

Fitzroy has completed 78 diamond drill holes for a total of 13,036 m since the start of February 2026, and drilling continues with four rigs at Buen Retiro. Three diamond rigs are working the shallow sulphides north of the Manto Negro pit in an area renamed Ortuzar, the southern extension of the pit in an area renamed Nativo, and the northeast extension of Tenorita, while a reverse circulation rig tests regional exploration targets.

The company plans to complete a further 9,000 m of drilling in 2026 with three objectives: advancing Tenorita to measured, indicated and inferred resource categories adequate to support a mine life for a pre-feasibility study, defining inferred resources elsewhere on the property, and testing new exploration targets. The technical information in the release was reviewed and verified by an independent geological consultant to the company.

Next Steps

Fitzroy aims to complete the drill-out of the Tenorita area in August 2026, keeping the project on track with the company's stated production target of early 2028. Further results from the ongoing programme across Tenorita, Ortuzar, Nativo, and the regional targets will follow as assays are received.

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