Vancouver, British Columbia – TheNewswire – November 11, 2026 – Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF, FSE: C3Y ) (“ Fitzroy ” or the “ Company ”) is pleased to report ongoing drilling results and provide an update for its advanced Buen Retiro Copper Project, Copiapó, Chile (“ Buen Retiro ” or the “ Project ”). Fitzroy has completed 25,634 metres of diamond drilling and 5,555 metres of RC drilling at Buen Retiro, for a total of 31,189 metres in 2026 as of November 5 (Figure 1).
Drilling continues with two diamond drill (“DD”) rigs focused on infill drilling of copper oxide and mixed copper oxide-sulphide mineralization, and one reverse circulation (“RC”) drill rig being used for sterilization and to test new targets. This news release reports results from diamond drill holes BRT-DDH129 to BRT-DDH167 (Table 1) and RC drill holes BRT-RCD020 to BRT-RCD032 (Table 2) for inclusion in the forthcoming maiden Mineral Resource Estimate (“ MRE ”). The maiden MRE is expected to form the basis for the Company’s planned Preliminary Economic Assessment (“ PEA ”). It is anticipated that MRE will incorporate Measured, Indicated and Inferred Resources across the Tenorita, Nativo, and Ortúzar areas.
Fitzroy has also planned a further 3,300 metres of diamond drilling, designed to support the potential conversion of Inferred Resources to Measured and Indicated Resources. The infill drilling is targeting copper oxide and mixed copper mineralization across Tenorita, Nativo, and Ortúzar for inclusion in an updated MRE and the planned Pre-Feasibility Study (“ PFS ”) (Q2 2027). A 5,000 metre sulphide exploration program (largely RC drilling) is also underway.
Drilling Highlights:
BRT-DDH134: 64 m @ 2.00% Cu from 127 m, including 41 m @ 3.05% Cu from 133 m
BRT-DDH146: 107 m @ 0.48% Cu from 10 m, including 37 m @ 0.96% Cu from 44 m
BRT-DDH133: 109 m @ 0.41% Cu from 20 m, including 13 m @ 1.10% Cu from 112 m
BRT-DDH143: 179 m @ 0.26% Cu from 30 m to 209 m, and 86 m @ 0.22% Cu from 272 m
Merlin Marr-Johnson, President and CEO of Fitzroy, commented : “ More great results from Buen Retiro! Intersections of 64 metres at 2% copper, including 41 metres at 3% copper, are stand-out results, especially given that this overlaps with historical results of 30 metres at 3.5% copper, including 12 metres at 5% copper. Furthermore, these results are in near-surface, leachable material that is amenable to low-cost processing. There are also multiple other wide zones of good mineralization in this batch of drill core assay results. We are really looking forward to publishing our maiden mineral resource estimate and associated PEA soon.”
Figure 1. Plan map with location of drill holes and showing locations of cross-section A-A’ (see Figure 3) and cross-section B-B’ (see Figure 2), Buen Retiro, Copiapó, Chile (UTM WGS84 19S).
Click Image To View Full Size
Drilling Overview
As of November 5, Fitzroy has completed 25,634 metres of diamond drilling and 5,555 metres of RC drilling at Buen Retiro, for a total of 31,189 metres since the start of February 2026 (see Figure 1). Drilling with three drill rigs at the Project is ongoing.
Table 1. Selected definition drill core assay results* for drill holes BRT-DDH129 to BRT-DDH167, Buen Retiro, Copiapó, Chile (UTM WGS84 19S).
Drill Hole
UTM East (m)
UTM North
(m)
Azimuth / Dip
From
(m)
To
(m)
**Interval (m)
Cu (%)
BRT-DDH129
345035
6922203
90 / -35.5
70
117
47
0.38
including
79
86
7
1.11
and
124
128
4
0.38
BRT-DDH130
345222
6921603
270 / -45
12
28
16
0.22
and
43
61
18
0.21
BRT-DDH131
345110
6922653
90 / -56
161
220
59
0.24
including
162
172
10
0.58
and
308
310
2
1.05
BRT-DDH132
345201
6921703
270 / -70
29
121
92
0.34
BRT-DDH133
345286
6921203
270 / -45
20
129
109
0.41
including
112
125
13
1.10
and
171
175
4
0.33
BRT-DDH134
345257
6921953
270 / -45
80
99
19
0.31
and
127
191
64
2.00
including
133
174
41
3.05
BRT-DDH135
345255
6922653
90 / -55
28
70
42
0.61
including
61
69
8
2.50
and
213
232
19
0.20
BRT-DDH136
345269
6921103
270 / -45
38
109
71
0.40
including
97
102
5
1.18
BRT-DDH137
345165
6922253
90 / -55
31
46.7
15.7
0.68
including
41
46.7
5.7
1.59
BRT-DDH137A
345165
6922253
90 / -77
41
79
38
0.43
BRT-DDH138
345050
6922853
90 / -45
12.2
140
127.8
0.22
including
14
25
11
0.60
and
251
269
18
0.22
and
278
284
6
0.23
and
290
302
12
0.44
BRT-DDH139
344824
6921461
250 / -45
57
68
11
0.11
and
93
102
9
0.13
BRT-DDH140
345192
6922353
90 / -45
9
35
26
0.16
and
68
99
31
0.20
and
168
186
18
0.14
and
246
258
12
0.21
BRT-DDH141
345277
6922853
90 / -55
126
132
6
0.23
BRT-DDH142
344781
6921605
250 / -45
74
86
12
0.22
and
93
103
10
0.21
BRT-DDH143
345208
6923074
90 / -47
30
209
179
0.26
including
112
119
7
0.72
and
272
358
86
0.22
including
282
287
5
0.69
BRT-DDH144
344692
6921733
250 / -47
44
89
45
0.22
BRT-DDH145
345194
6922303
110 / -55
36
58
22
0.23
BRT-DDH146
345128
6922303
90 / -60
10
117
107
0.48
Including
44
81
37
0.96
including
70
81
11
2.11
BRT-DDH147
345177
6922403
90 / -45
14
29
15
0.11
and
39
49
10
0.22
and
79
102
23
0.71
including
82
89
7
1.71
BRT-DDH148
345206
6920990
257 / -49
23
37
14
0.20
and
63
110
47
0.31
and
120
125
5
0.55
and
212
238
26
0.18
BRT-DDH149
345354
6920939
279 / -46
155
196
41
0.26
including
182
189
7
1.00
BRT-DDH150
345083
6920810
250.7 / -48
27
115
88
0.52
including
100
113
13
1.46
BRT-DDH151
345218
6920936
250 / -51
35
126
91
0.32
including
38
47
9
0.66
and
213
218
5
0.23
BRT-DDH152
345290
6921070
248 / -51
26
142
116
0.29
including
85
99
14
0.85
BRT-DDH153
345341
6920855
262.7 / -45
121
167
46
0.32
and
179
194
15
0.55
BRT-DDH154
345183
6921110
250 / -46
98
108
10
0.36
BRT-DDH155
345360
6921124
270 / -47
73
98
26
0.24
and
156
164
8
0.49
BRT-DDH156
344950
6921056
252 / -45
10.2
75
64.8
0.32
and
99
118
19
0.46
BRT-DDH157
345035
6922203
90 / -64
122
125
3
0.45
BRT-DDH158
344834
6921193
251 / -46
3
17
14
0.30
BRT-DDH159
345296
6920514
250 / -52
114.8
129
14.2
0.16
and
139
146
7
0.37
BRT-DDH160
345065
6922303
90 / -58
14
34
20
0.56
and
112
136
24
0.20
BRT-DDH161
345183
6922553
90 / -60
86
109
23
0.62
including
87
101
14
0.90
BRT-DDH162
345303
6923077
90 / -46
128
144
16
0.22
BRT-DDH163
345219
6922753
90 / -60
108
120
12
0.37
BRT-DDH164
345202
6922927
90 / -54
156
174
18
0.27
BRT-DDH165
345235
6923153
90 / -55
77
100
23
0.21
and
134
236
102
0.13
BRT-DDH166
345290
6923027
90 / -59
193
199
6
0.34
BRT-DDH167
345267
6922753
90 / -75
73
99
26
0.49
including
73
77
4
1.83
*Calculated on a minimum thickness of 5 m and minimum average grade of 0.20% Cu
**Estimated to be 80-90% of true thickness
Table 2. Selected definition reverse circulation chip assay results* for drill holes BRT-RCD020 to BRT-RCD032, Buen Retiro, Copiapó, Chile (UTM WGS84 19S).
Drill Hole
UTM East
(m)
UTM North
(m)
Azimuth /
Dip
From
(m)
To
(m)
**Interval
(m)
Cu
(%)
BRT-RCD020
345466
6920255
250 / -60
206
249
43
0.21
BRT-RCD021
345298
6922338
82 / -55
44
56
12
0.27
BRT-RCD022
345267
6922753
90 / -55
52
89
37
0.32
including
68
76
8
0.85
BRT-RCD023
345276
6922930
90 / -55
6
24
18
0.12
and
79
83
4
0.23
and
158
176
18
0.11
BRT-RCD024
345344
6922974
90 / -55
26
34
8
0.21
BRT-RCD025
344748
6921990
90 / -55
No significant intercepts
BRT-RCD026
344601
6922077
270 / -55
No significant intercepts
BRT-RCD027
344932
6920467
253 / -55
No significant intercepts
BRT-RCD028
345169
6920303
260 / -55
No significant intercepts
BRT-RCD029
344979
6922753
90 / -60
10
18
8
0.20
and
62
68
6
0.24
and
78
80
2
0.44
BRT-RCD030
344923
6922653
90 / -60
88
94
6
0.20
BRT-RCD031
345038
6922503
90 / -56
136
145
9
0.25
BRT-RCD032
345262
6922053
270 / -55
26
73
47
0.23
*Calculated on a minimum thickness of 5 m and minimum average grade of 0.20% Cu
**Estimated to be 80-90% of true thickness
Geology Update
The drill core results reported below largely confirm geology that has previously been reported: Copper mineralization at Tenorita strikes north-northwest and dips steeply to the east. Tenorita is consistent along strike and remains open to the southeast.
Mineralization at Nativo strikes north-south and is subvertical. Nativo merges with Tenorita to the south and continues north into the middle of the historical Manto Negro open pit. Copper mineralization at both Tenorita and Nativo is centred on ferric breccias, with a width of approximately 70 metres.
Where the two trends merge, a third ferric breccia is present, and a wide zone of shallow copper mineralization is present. Most of the mineralization intersected in these two areas has been copper oxide and mixed (copper oxide and secondary, leachable sulphide), down to depths of 120-150 metres.
Ortúzar is geologically distinct from Tenorita and Nativo and displays greater variability and complexity. Ortúzar extends southwards as far as the middle of the historical Manto Negro open pit. The dominant mineralization at Ortúzar is disseminated ‘manto-style’ controlled by lithology, dipping at approximately 30 o to the northwest. The mantos have a relatively shallow depth of oxidation (60-80 metres) and chalcopyrite becomes the dominant copper mineral down-dip (see Figure 3). The north-south structure that characterizes the Nativo Area appears to continue into the Ortúzar Area, creating an oxidized portion of Ortúzar to the north and east of the historical Manto Negro open pit. Additionally, metasomatic copper mineralization (chalcopyrite) at the contact of dioritic intrusions has been identified.
Drill Core Assay Results
Drilling continues to intersect significant copper mineralization, including high-grade zones beneath the historical Manto Negro open pit (Figure 2). BRT-DDH134 intersected 64 metres at 2.00% Cu from 127 metres down-hole to 191 metres down-hole, including an exceptional 41 metres at 3.05% Cu from 133 metres to 174 metres (Figure 2). BRT-DDH134 corresponds well with historical drill hole BRT-DDH013 which was drilled from the western side of the historical pit towards the east. BRT-DDH013 intersected 30 metres at 3.52% Cu from 141 metres, including 12 metres at 5.00% Cu from 155 metres, over-lapping with the high-grade portion of BRT-DDH134. These two drill holes highlight a zone of strong mineralization over a true width of approximately 50 metres in the base of the pit.
Drill hole BRT-DDH134 features a strong supergene enrichment profile, with abundant native copper in the richest interval from 133 metres to 174 metres. Native copper is extremely soft and malleable and can flatten into thin plates or laminae during conventional sample preparation and pulverization. These particles may not pass efficiently through the preparation sieves, potentially resulting in an under-representation of native copper in the analytical pulp and, consequently, in reported copper assays. Ongoing metallurgical test work using bulk samples will provide an opportunity for the Company to calibrate the copper content in the mixed (supergene) zones.
Drill holes BRT-DDH131 and BRT-DDH135 (see Figure 3) showcase the typical geology of the Ortúzar Area. Drill hole BRT-DDH131 intersected fresh sulphide (chalcopyrite) comprising 59 metres at 0.24% Cu from 161 metres and a further 2 metres at 1.05 % Cu from 308 m, intersecting the hypogene or primary sulphide zone. Closer to surface, drill hole BRT-DDH135 intersected the same mineralized unit, but in a section that has been oxidized. The drill hole intersected 42 metres at 0.61% Cu (see Figure 3), predominantly copper oxide minerals, including malachite, azurite, and chrysocolla.
In the southern part of Ortúzar, right on the edge of the historical open pit, drill hole BRT-DDH146 intersected 107 metres at 0.48% Cu from 10 m, including 37 m @ 0.96% Cu from 44 metres. Mineralization starts in oxides (tenorite and cuprite in veinlets), followed by a mixed zone from 65 m to 81 m comprising chalcocite replacing pyrite and native copper in veins and disseminations. From 81 metres chalcopyrite is present in veins, veinlets and disseminations.
Drill hole BRT-DDH133 is located in the southern part of the Nativo trend and intersected 109 metres at 0.41% Cu from 20 m, including 13 m @ 1.10% Cu from 112 metres. The mineralization is characterized by a classic oxidation profile, with starting with chrysocolla and tenorite hosted in hydrothermal breccias in the upper metres before transitioning to a supergene-enrichment mixed zone with native copper and chalcocite, and ending in hypogene, fresh disseminated chalcopyrite zone.
Drill hole BRT-DDH143 was drilled in the northern Ortúzar Area, and intersected remarkably continuous mineralization from 30 metres depth, comprising 179 metres at 0.26% Cu in hypogene, fresh sulphides (principally chalcopyrite), and a further 86 m at 0.22% Cu from 272 metres. Mineralization reflects a classic oxidation profile, starting with disseminations and veinlets of tenorite, atacamite and chrysocolla before entering a mixed zone from 54 m containing veinlets of native copper and disseminated chalcocite. The hypogene zone starts at 83 m, comprising veinlets and disseminations of chalcopyrite.
Figure 2. Cross-section B-B’ through the historical Manto Negro open pit, including drill holes BRT-DDH013, BRT-DDH111, and BRT-DDH134 (see Figure 1), Buen Retiro, Copiapó, Chile (UTM WGS84 19S).
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Buen Retiro Core Sampling Procedures, Laboratory and QA/QC
Buen Retiro HQ drill core, in labelled and secured wooden core trays, is picked up from the drilling site by Company personnel and transported by truck from the drill rig to the core processing facility in Copiapó . Core lengths are checked, after which geotechnical logging is performed.
HQ and NQ drill core is cut in half using a diamond saw, with one half submitted for analysis and the remaining half retained in the original core trays at the rented core storage warehouse in Cuesta Cardones, south of Copiapó.
Fitzroy is using two laboratories for its samples. Samples from the Tenorita Area (see Figure 1) are sent to the ALS-Patagonia laboratory in Copiapó for sample preparation and the prepared sample pulps are then sent to ALS-Peru for assaying. Samples from the Nativo and Ortúzar areas (see Figure 1) are sent to the SGS laboratory in Copiapó for sample preparation and analysis.
Figure 3. Cross-section A-A’, including drill holes BRT-RCD030, BRT-DDH131, and BRT-DDH135 (see Figure 1), Buen Retiro, Copiapó, Chile (UTM WGS84 19S).
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A silica blank is inserted every 20 samples (approximately every 20 m); a blank is always inserted immediately after a section that contains native copper. Pulp duplicates are randomly selected in proportion to the number of samples from each drill hole and inserted into the sample stream along with high-, medium-, and low-grade copper standards. Sample identifications are changed and coded by the Company.
At the same time, a coarse duplicate is prepared and sent to a secondary laboratory, (either SGS or ALS depending on which is the primary laboratory), for analysis using the same analytical method. The Quality Assurance (QA) and Quality Control (QC) samples prepared by the Company represent about 12% of the total primary core samples.
The three certified copper standards (both oxide and sulphide), acquired from Chilean company Instituto Nacional de Tecnología Estandarización y Metrología Ltda. (“ INTEM ”), have international standard certification. Certified reference materials are used to monitor analytical accuracy. Blanks are used to evaluate the quality of the laboratory preparation and identify possible contamination. Pulp and coarse-reject duplicates are used to monitor analytical precision. A secondary laboratory (either SGS or ALS depending on which is the primary laboratory) is used as a referee laboratory, as a check on replicating lab procedures.
Once prepared, the core samples are bagged, tagged, and transported to the laboratory by the project team. At the laboratory reception, the samples and their identification codes are verified and accepted once the physical inventory matches the assay request form.
The pulps and rejects of crushed samples are collected from the ALS-Patagonia laboratory in Copiapó, or from the SGS laboratory in Santiago every three months. The rejects are stocked in closed drums, identified with the corresponding batches and sample ranges, while the pulps are stocked in boxes and on shelves inside a container separated for this purpose. Rejects and pulps are located in the same Company warehouse facilities in Copiapó.
A visual review of the QA/QC results from the standards and blanks inserted by the Company and the laboratory’s internal QA/QC information was completed by the Company and no significant issues were identified.
The Company and Qualified Person are independent of the assay laboratories disclosed in this news release.
Qualified Person (“QP”)
Dr. Scott Jobin-Bevans (P.Geo., Ph.D., PMP), a QP as defined by NI 43-101 and independent geological consultant to the Company, has reviewed and approved the technical information provided in this news release and verified the data disclosed, including the sampling, analytical and test data underlying the technical information contained in this news release. Specifically, the QP has verified selected laboratory assay results against reported drill core intervals, as well as drill core logs against the geology, as supplied by the Company .
About Fitzroy Minerals
Fitzroy Minerals is focused on exploring and developing copper assets with substantial upside potential in Chile. The Company’s two lead properties are the Buen Retiro Copper Project located near Copiapó, Chile, and the Caballos Copper Project, located in Valparaiso, Chile . Fitzroy Minerals’ shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQX under the symbol FTZFF.
On behalf of the board of Fitzroy Minerals Inc.
Merlin Marr-Johnson
President and CEO
For further information, please contact:
Merlin Marr-Johnson
+447803712280
mmj@fitzroyminerals.com
For more information on Fitzroy Minerals, please visit the Company’s website: www.fitzroyminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the potential mineralization on the Company’s mineral properties, future exploration plans on the Company’s mineral properties and the timing and results of future exploration.
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of the Company. Such statements can generally, but not always, be identified by words such as “expects”, “plans”, “anticipates”, “intends”, “estimates”, “forecasts”, “schedules”, “prepares”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. All statements that describe the Company’s plans relating to operations and potential strategic opportunities are forward-looking statements under applicable securities laws. These statements address future events and conditions and are reliant on assumptions made by the Company’s management, and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators, including without limitation, the dangers inherent in exploration, development and mining activities; actual exploration or development plans and costs differing materially from the Company’s estimates; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the availability of financing; operations in foreign and developing countries and the compliance with foreign laws, remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; and competition with other mining companies. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could materially differ from those currently projected, and there is no representation by the Company that the actual results realized in the future will be the same in whole or in part as those presented herein. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s filings that are available at www.sedarplus.ca.
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