Fitzroy Minerals Reports Significant Drilling Results from Buen Retiro Copper Project, Advancing Towards Maiden Resource Estimate

Vancouver, British Columbia – November 11, 2026 – Leads & Copy – Fitzroy Minerals Inc. is reporting significant ongoing drilling results from its Buen Retiro Copper Project in Chile, with the company having completed 31,189 metres of diamond and RC drilling in 2026 as of November 5. The project is advancing towards a maiden Mineral Resource Estimate (MRE) and a planned Preliminary Economic Assessment (PEA).

The current drilling program utilizes two diamond drill rigs focused on infill drilling of copper oxide and mixed copper oxide-sulphide mineralization, alongside one RC drill rig for sterilization and new target testing. Results from diamond drill holes BRT-DDH129 to BRT-DDH167 and RC drill holes BRT-RCD020 to BRT-RCD032 are being reported for inclusion in the forthcoming maiden MRE. The MRE is expected to encompass Measured, Indicated, and Inferred Resources across the Tenorita, Nativo, and Ortúzar areas.

Fitzroy has planned an additional 3,300 metres of diamond drilling aimed at converting Inferred Resources to Measured and Indicated Resources. This infill drilling targets copper oxide and mixed copper mineralization in the Tenorita, Nativo, and Ortúzar areas for incorporation into an updated MRE and the planned Pre-Feasibility Study (PFS), slated for the second quarter of 2027. Furthermore, a 5,000-metre sulphide exploration program, primarily utilizing RC drilling, is currently underway.

Notable drilling highlights include BRT-DDH134, which intersected 64 metres grading 2.00% copper from 127 metres, including 41 metres grading 3.05% copper from 133 metres. BRT-DDH146 returned 107 metres at 0.48% copper from 10 metres, with an interval of 37 metres grading 0.96% copper from 44 metres. BRT-DDH133 yielded 109 metres at 0.41% copper from 20 metres, including 13 metres at 1.10% copper from 112 metres. BRT-DDH143 intercepted 179 metres at 0.26% copper from 30 metres, extending to 209 metres, and an additional 86 metres at 0.22% copper from 272 metres.

Merlin Marr-Johnson, President and CEO of Fitzroy, expressed enthusiasm for the results, stating, “More great results from Buen Retiro! Intersections of 64 metres at 2% copper, including 41 metres at 3% copper, are stand-out results, especially given that this overlaps with historical results of 30 metres at 3.5% copper, including 12 metres at 5% copper. Furthermore, these results are in near-surface, leachable material that is amenable to low-cost processing. There are also multiple other wide zones of good mineralization in this batch of drill core assay results. We are really looking forward to publishing our maiden mineral resource estimate and associated PEA soon.”

The geology at Tenorita, striking north-northwest and dipping steeply east, remains consistent along strike and open to the southeast. The Nativo area mineralization strikes north-south and is subvertical, merging with Tenorita to the south and extending northwards. Both Tenorita and Nativo mineralization are centered on ferric breccias with widths of approximately 70 metres. Where these trends merge, a third ferric breccia hosts a wide zone of shallow copper mineralization, largely oxide and mixed oxide-sulphide down to depths of 120-150 metres.

Ortúzar, a geologically distinct area with greater variability, extends south to the edge of the historical Manto Negro open pit. Here, mineralization is predominantly disseminated ‘manto-style,’ controlled by lithology and dipping at approximately 30 degrees to the northwest. Ortúzar exhibits shallow oxidation depths of 60-80 metres, with chalcopyrite becoming the dominant copper mineral down-dip. A north-south structure likely continues into Ortúzar, creating an oxidized portion to the north and east of the Manto Negro pit, with metasomatic copper mineralization identified at the contact of dioritic intrusions.

Specific drill core assay results detailed include BRT-DDH134’s intersection of 64 metres grading 2.00% copper, with an exceptional 41 metres grading 3.05% copper. This correlates well with historical drill hole BRT-DDH013, which yielded 30 metres at 3.52% copper, including 12 metres at 5.00% copper, indicating a zone of strong mineralization over an approximate true width of 50 metres at the base of the pit. BRT-DDH134 shows a strong supergene enrichment profile with abundant native copper, though the company notes potential under-representation of native copper in assays due to its physical properties and is planning metallurgical test work.

In the Ortúzar Area, BRT-DDH131 intersected fresh sulphide (chalcopyrite) for 59 metres at 0.24% copper from 161 metres, plus 2 metres at 1.05% copper from 308 metres. BRT-DDH135, closer to surface in the same area, intersected the oxidized portion, yielding 42 metres at 0.61% copper, predominantly oxide minerals. In the southern Ortúzar, BRT-DDH146 intersected 107 metres at 0.48% copper from 10 metres, including 37 metres at 0.96% copper, showing a progression from oxides to mixed mineralization to chalcopyrite.

BRT-DDH133, in the southern Nativo trend, returned 109 metres at 0.41% copper, including 13 metres at 1.10% copper, displaying a classic oxidation profile. BRT-DDH143, in northern Ortúzar, showed remarkably continuous mineralization from 30 metres, with 179 metres at 0.26% copper in fresh sulphides, and an additional 86 metres at 0.22% copper from 272 metres, reflecting a typical oxidation profile transitioning to hypogene chalcopyrite.

Fitzroy adheres to rigorous core sampling procedures, with HQ drill core cut in half, one half submitted for analysis, and the remainder retained. Samples are sent to either ALS-Patagonia/ALS-Peru or SGS laboratory for preparation and assaying. The company implements a robust QA/QC program, including silica blanks, pulp duplicates, high-, medium-, and low-grade copper standards, and coarse duplicates sent to a secondary laboratory. These QA/QC samples constitute approximately 12% of the total primary core samples. Visual review of QA/QC results has not identified significant issues.

Dr. Scott Jobin-Bevans, a QP as defined by NI 43-101 and independent geological consultant, has reviewed and approved the technical information in this news release. Fitzroy Minerals is focused on exploring and developing copper assets in Chile, with its lead properties being the Buen Retiro Copper Project and the Caballos Copper Project.

Source: Fitzroy Minerals Inc.