Fitzroy Minerals: High-Resolution MobileMT Survey Links Multiple Large Conductive Anomalies to Copper-Molybdenum-Gold Drill-Intercepts at The Caballos Copper Project, Chile

About this update from Fitzroy Minerals Inc

Vancouver, British Columbia – TheNewswire - April 29, 2026 – Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) (“Fitzroy Minerals” or the “Company”) is pleased to announce the results of the helicopter-borne MobileMT airborne electromagnetic and magnetic survey (“MobileMT”) completed by Expert Geophysics Services Inc. (“EGS”) over the Caballos Project, Valparaiso Region, Chile (“Caballos” or the “Caballos Project”). The survey has identified multiple conductivity and resistivity anomalies, interpreted to be consistent with porphyry-style hydrothermal systems and that are connected to the mineralization intersected in 2025 diamond drilling by Fitzroy Minerals (Figure 1). Highlights 694 line-km flown over the main Caballos concession block covering approximately 194 km², including a 200 m spacing infill survey completed over the Central Target area.   Recognition of a large circular strongly conductive feature (~5 km diameter), interpreted as a porphyry-related hydrothermal system that is directly connected to copper-molybdenum-gold-rhenium mineralization identified by drilling at the Chincolco Prospect, Caballos in 2025.   Identification of linear conductive anomalies directly connected to Chincolco mineralized drill hole intercepts and potential southwards continuation for 2.5 kilometres.  Merlin Marr-Johnson, President and CEO of Fitzroy Minerals, commented: “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. We will follow up with further integrated data-processing, and a ground Deep IP survey to gain chargeability information and improve target ranking, ahead of drilling. Fitzroy Minerals aims to make major copper discoveries in Chile, and this round of geophysics at Caballos has identified large targets that will be drilled soon. The plan is that future cash flow from the Buen Retiro Heap Leach operation will fund non-dilutive exploration drilling.” Expert Geophysics Surveys Inc. The survey ...

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