Fitzroy Minerals Reports Significant Copper Intersections from Buen Retiro Project Drilling

Vancouver, British Columbia — August 20, 2026 — Leads & Copy — Fitzroy Minerals Inc. is reporting new drilling results from its Buen Retiro Copper Project in Copiapó, Chile. The company has three diamond drill rigs and one Reverse Circulation rig currently operating at the site, aiming to complete 22,000 metres of drilling by the end of 2026. Recent results from drill holes BRT-DDH081 to BRT-DDH100 have been released, highlighting significant copper grades.

Among the key findings, drill hole BRT-DDH094 intersected 105.0 metres grading 0.74% copper from a depth of 58.0 metres, including a 12.0-metre interval at 3.01% copper from 75.0 metres. Drill hole BRT-DDH095 returned 8.8 metres at 3.70% copper from 30.0 metres, with a notable 2.8-metre section grading 11.35% copper from 36.0 metres, and a 1.0-metre interval assaying 21.84% copper from 37.0 metres, which represents the highest grade encountered at Buen Retiro to date.

Drill hole BRT-DDH099 yielded 83.0 metres of 0.46% copper from 69.0 metres, including a 49.0-metre section at 0.68% copper from 72.0 metres. Merlin Marr-Johnson, President and CEO of Fitzroy, commented on the results, particularly highlighting the high-grade intersection in BRT-DDH095, located approximately 26 metres vertically from the surface. He noted that this hole ended in mineralization grading 5.81% copper after encountering a void, likely from artisanal mining activities.

Marr-Johnson also pointed out that significant results are not solely from infill drilling. BRT-DDH094 extended known mineralization by 100 metres in the northeastern part of the Tenorita area, while BRT-DDH099 identified a new zone of mineralization between the Manto Negro and Nativo areas. Additionally, RC drill hole BRT-RCD020 intersected native copper and chalcocite at a depth of 239 metres, extending the main Tenorita trend by 200 metres along strike to a total of 1.9 kilometres. Fitzroy is focused on defining Measured and Indicated resources to support a profitable development plan, with the aim of completing the drill-out of the Tenorita area in August to target production in early 2028.

Since the beginning of February 2026, Fitzroy has completed 92 diamond drill holes, totaling 16,376 metres. The company is on track to complete an additional 6,000 metres of drilling in 2026. Two diamond drill rigs are expected to conclude their work in September to allow for data processing for the maiden Mineral Resource Estimate. In the fourth quarter of 2026, two drill rigs will continue operations at Buen Retiro, with the RC rig focusing on regional exploration targets and the DD rig on deeper exploration targets.

Of the 20 drill holes reported from BRT-DDH081 to BRT-DDH100, five were geotechnical holes without significant mineralization. Drill hole #89, targeting the southeastern extension of the Tenorita area, was abandoned at 232 metres due to a fault zone. However, subsequent re-targeting with the RC rig (BRT-RCD020) successfully intersected target mineralization, confirming the extension of the mineralized trend.

The report details the core sampling procedures, laboratory protocols, and quality assurance/quality control (QA/QC) measures implemented by Fitzroy. These include the insertion of blanks and certified copper standards, pulp duplicates, and verification of laboratory data. A Qualified Person, Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), has reviewed and approved the technical information presented in the release.

Fitzroy Minerals is exploring and developing copper-focused mineral assets in the Americas, with its property portfolio including the Buen Retiro Copper Project in Chile, the Caballos Copper and Polimet Gold-Copper-Silver projects in Chile, the Taquetren Gold Project in Argentina, and the Caribou Project in Canada. Fitzroy Minerals' shares are traded on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under the symbol FTZFF.

Source: Fitzroy Minerals Inc.