Fitzroy Minerals’ MobileMT Survey Reveals Large Conductive Anomalies Linked to Copper-Molybdenum-Gold Mineralization at Caballos Project, Chile

Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) announced results from a helicopter-borne MobileMT airborne electromagnetic and magnetic survey at its Caballos copper project in Chile’s Valparaiso Region. The survey identified multiple conductivity and resistivity anomalies interpreted to be consistent with porphyry-style hydrothermal systems, directly linked to copper-molybdenum-gold mineralization intersected in 2025 diamond drilling.

According to the company, the survey covered 694 line-km over the main Caballos concession block, approximately 194 km², including a 200-meter spacing infill over the Central Target area. A standout finding is a large circular conductive feature roughly 5 kilometers in diameter, interpreted as a porphyry-related hydrothermal system connected to mineralization at the Chincolco Prospect.

Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, stated: ‘The MobileMT survey shows that Caballos hosts the type of plumbing architecture and conductive anomalies that are often associated with world-class mineral systems in Chile. The standout anomaly is a huge circular feature about five kilometres across that connects to the sulphide mineralization we intersected in drilling last year. There are also conductive anomalies that suggest the Chincolco sulphide mineralization might continue for several kilometres to the south, just below the surface.’

The survey, completed by Expert Geophysics Services Inc. (EGS) using the proprietary MobileMT broadband electromagnetic system, identified linear conductive anomalies extending 2.5 kilometers southeast of drill hole CAB-DDH004A. That hole intersected 176 meters at 0.31% copper, 249 ppm molybdenum, and 0.04 g/t gold (0.47% copper equivalent) from 156 meters, as reported in a January 13, 2026 news release. The deeper portion of the anomaly remains untested.

Fitzroy Minerals also identified a prominent north-south conductive corridor extending 14 kilometers along the Pocuro Fault Zone, interpreted as a crustal-scale pathway for mineralizing fluids. Additionally, resistivity patterns in the north of the survey block were compared to major deposits like El Teniente and La Huifa, supporting the interpretation of a district-scale mineralizing system.

The company plans to follow up with a 3D inversion of key areas, AI-enhanced data processing, and a ground Deep IP survey in Q2 2026 to refine drill targets. Marr-Johnson noted that future cash flow from the Buen Retiro Heap Leach operation is expected to fund non-dilutive exploration drilling.

Fitzroy Minerals granted 5,770,000 stock options to directors, officers, and consultants, exercisable at $0.50 per share until April 29, 2031. The technical information was reviewed by Dr. Scott Jobin-Bevans, a qualified person under NI 43-101.

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