7 MAY, 2025 | VANCOUVER, BC

Tribeca Resources Maiden Drill Program Intersects Porphyry-style Mineralization with Encouraging Gold Values at the Chiricuto Property in the Atacama Region of Chile

Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to report the completion of a maiden drill program at the Company’s previously undrilled Chiricuto Property (“Chiricuto”) in the Atacama region of northern Chile. Since acquiring an option to purchase a 100% interest in the property in March 2024, Tribeca systematically completed geological mapping, IP-MT geophysical surveying and soil sampling ahead of the now completed drill program.

Highlights:

• 5 holes drilled: two targets tested with a combined 1,586m of diamond drilling. Assay data received for the first three holes (CHR001-CHR003)
• Copper-gold porphyry-style mineralization intersected at IP-MT target: Hole CHR001, drilled into the northern strong coincident IP chargeability - MT anomaly, intersected a strong sulphide system over most of the hole length (456m) associated with porphyry-style veins and breccias. The pyrite-chalcopyrite sulphide assemblage in the hole is dominated by pyrite, and hosts significant gold values, with the best of several 10-16m thick mineralised zones recording 10m @ 0.12% Cu, 0.47 g/t Au.
• Magnetic target tested: The two drill holes (CHR002, CHR003) tested the magnetic target and intersected an IOCG-style magnetite alteration system hosted by breccias and veins. Chalcopyrite is locally present in the drill holes with a maximum individual assay of 0.16% Cu. One zone of semi-massive iron mineralization yielded 18m @ 26.1% Fe (from 102m in CHR003).

The results from the drilling expand our understanding of the copper mineralization in the area. The intersection of copper-gold porphyry-style mineralization was unexpected and provides a new target style that has not previously been the focus of exploration in the area. Next steps will be determined once all drill results are received and integrated and the data from the property can be reviewed in the context of this new geological model.

Tribeca Resources CEO, Dr. Paul Gow commented:

“Drilling at Chiricuto has intersected a strong sulphide system associated with breccias and porphyry-style veins. Sulphide is present nearly all the way down the 456m of hole CHR001, and pleasingly with locally high gold values. We now await the assays from the final two holes of the program, which tested southern extensions of the IP/MT target into which hole CHR001 was drilled, to further refine our understanding of the property's mineralization potential."

Chiricuto Property drilling program

The Chiricuto Property is a 570 hectare property located in the established Mantoverde district of the Chilean Coastal Belt, 15 km and 21 km from Capstone Copper Corporation’s Mantoverde mine and Santo Domingo development project, respectively. These two deposits combined host over 1.5Bt of copper-gold mineral resources (Figure 1). The Mantoverde mine produced 35,000 tonnes of copper cathode per in 2024, with a recently completed expansion to process sulphide ores set to increase total production in 2025 to between 97,000 tonnes and 112,000 tonnes of copper.

Tribeca completed a drilling program at Chiricuto that tested two key geophysical targets for copper-gold mineralization. The program comprised five drill holes for 1,586m, with hole depths ranging from 250m to 456m.

IP/MT Target: The first target is characterized by a significant 1.2km-long gradient array Induced Polarization (IP) chargeability anomaly in the northwest of the property (Figure 2). The northern end of the target has a magneto-telluric (MT) low-resistivity anomaly (<200 ohm-m) present from close-to-surface to +500m depth. This zone is coincident with strong gold anomalism in soil (to 0.127 g/t Au) and mapped chlorite-epidote and chlorite-silica alteration at surface.

The target was tested by three 400m-spaced drillholes (CHR001 – 456m, CHR004 – 323m, CHR005 – 250m).  Assay results have been received from CHR001, with the best copper intervals provided in Table 1. CHR001 intersected significant porphyry-style veins and lesser stockwork associated with hydrothermal breccias within an andesite host rock intruded by diorite, monzonite and andesitic dikes (Figure 3a). The vein mineralogy is dominated by quartz or quartz-pyrite, locally with K-feldspar haloes. Actinolite-chlorite-silica alteration is strongly developed, and tourmaline is variably present in the hydrothermal breccias. Chalcopyrite is locally present both disseminated and in veins, commonly with carbonate (Figure 3c). The sulphide system is strong, with sulphide visible throughout much of the 456m in CHR001. Assay results indicate an average sulphide content of approximately 3.8% consistently distributed throughout the entire hole, albeit strongly pyrite-dominated. This strong sulphide system encountered in CHR001 is consistent with the MT low resistivity anomaly present in the 3D inversion in this area. Copper is present in much of the hole at levels of ~600ppm, with three zones of >0.1% Cu (Table 1). Molybdenum and cobalt are variably anomalous and not strongly correlated with copper or gold, but are locally anomalous with maximum individual 2m assay results of 96ppm Mo (from 8m) and 252ppm Co (from 44m), indicating potential for a multi-element mineralization system. Strong iron oxide alteration is not common in CHR001, with only local bands or veins of magnetite or specularite, commonly with pyrite (Figure 3b).

Table 1. Summary of significant copper mineralized intersections in drill hole CHR001

Note: Intervals compiled at an approximate 0.1% Cu cut-off. Copper equivalent (“CuEq”) values are calculated using metals reported in situ (100% basis) and only including copper and gold values. Assumptions include metals prices of US$4.00/lb for copper and US$2000/oz for gold. No metallurgical data is available so there are no discounts for recovery. The formula used is as follows: CuEq% = Cu% + 0.72 x Au g/t

Magnetic Target: The second target comprises a large (800m by 400m) and intense (3500nT) ground magnetic anomaly interpreted as sourced by a magnetite alteration system (Figure 2). Two holes (CHR002 and CHR003) were drilled to depths of 260m and 296m, respectively, to test this system. Both holes intersected significant magnetite-actinolite-albite alteration. Copper sulphide (chalcopyrite) is present at trace levels in CHR002 and CHR003, most commonly within, and as haloes to, carbonate veins. Specularite is also locally present in these veins. The highest individual copper assay was 0.16% Cu in a 2-metre sample from 272m in CHR003, with the maximum iron assay for an individual 2-metre sample being 38.3% Fe within an interval of 18m @ 26.1% Fe from 102m in CHR003 (Figure 3d), demonstrating notable iron mineralization.

The collar information for all five holes is provided in Table 2.

Plans for 2025

Tribeca is actively finalizing plans for a Phase 3 drill program at its cornerstone La Higuera IOCG Project, demonstrating its commitment to advancing its key assets.  Concurrently, the company is aggressively pursuing business development initiatives, both near its existing two projects and in Chile more broadly. The company is currently evaluating all available data from the Chiricuto program to determine the best path forward for the property, including potential partnerships and alternative exploration strategies. This comprehensive approach is intended to ensure that Tribeca maximizes the value of its assets while maintaining a disciplined and strategic focus.

Table 2. Details of the drill collars from the Chiricuto drill program. Collar coordinates provided using datum/projection WGS84 Zone 19S.

Notes on sampling and assaying

Analytical samples were produced using ½ HQ core and sent to the Activation Geological Services (AGS) Lab in La Serena, Chile. Preparation included crushing the core samples to 70% < 2.5mm and pulverizing 500g of crushed material to better than 95% < 105 microns. All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-FA30) and a multi-element four acid digest ICP-OES method (OES-TD36). The QA/QC procedure for this drilling program utilizes field duplicates, standards and blanks that comprise approximately 10% of the total samples submitted.

Qualified Person

All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of NI 43-101. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera Property and the Chiricuto Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera Project and the Chiricuto Property.

About Tribeca Resources

Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.

Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.

Tribeca Resources’ flagship property is the La Higuera Project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca Resources on SEDAR on 24 October 2022.

On behalf of Tribeca Resources Corporation

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This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the relationship between geophysical and geochemical survey results and potential mineralization, the relationship between a pyrite-dominant mineralized system and potential associated copper-gold mineralization, and the operations of the Company.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the ability of the Company to pay the purchase price as well as any other payments required by the Chiricuto Option Agreement, risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management,  and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.

There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.