Fitzroy Minerals Reports Channel Samples Averaging 2.96% Cu From Buen Retiro Historical Open Pit; Drilling Continues to Return Extensive Visible Copper Mineralization, Buen Retiro Copper Project, Chile

About this update from Fitzroy Minerals Inc

VANCOUVER, BC - June 15, 2026 (NEWMEDIAWIRE) - Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y) ("Fitzroy" or the "Company") is pleased to provide an exploration update from its 100%-owned Buen Retiro Copper Project (the "Project" or "Buen Retiro"), located near Copiapo, Chile. Drilling continues to intersect additional oxide and mixed (oxide-sulphide) copper mineralization that is expected to be incorporated into resource definition and the Heap Leach Development Plan. Three diamond drill ("DD") rigs are at site and a Reverse Circulation ("RC") rig will be added next week. Metallurgical test work is underway and initial column results are expected to be delivered in July. The Company will apply a "data cut-off" to resource drilling from the end of July to allow time for assaying, modelling, integration with metallurgical results, and inclusion in a Project Development Plan that will provide the basis of the Environmental Permit Application (scheduled for October 2026). The Pre-Feasibility Study is on track for completion in Q1 2027. The delivery of assay results from the laboratory continues to be disrupted and delayed. Results from channel sampling in the historical Buen Retiro Open Pit ("Pit Area") are reported here. Key Takeaways from this News Release: Merlin Marr-Johnson, President and CEO of Fitzroy, commented: "Channel sample results averaging around 3.0% Cu and historical drill results of 30 metres at 3.52% Cu showcase the type of copper mineralization that Fitzroy is targeting in the Pit Area. Historical production focused on Cu-oxide material only, and our analysis of historical drill data shows that a meaningful amount of mixed and transition copper material was left behind, that can be recovered with our planned chloride-leach process. The drilling campaign in the Southwest Area is finishing up, and our attention is now turning to the Pit Area where recent drilling has intersected highly encouraging and newly identified mineralized zones. With four rigs on site as of June 20th, we will complete around 5,000 m of drilling in the Pit Area for inclusion into the Project Development Plan ahead of submission of the Environmental Permit Application. Not all copper mineralization is equal, and the copper that Fitzroy is delineating at Buen Retiro has extrao...

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