Algo Grande Provides Phase II Drill Update; Commences Hole 3 with Second Drill Rig at Cerro Grande

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Algo Grande Copper (OTC:ALGRF) reported a Phase II drill update for the Cerro Grande skarn target at its 100%-owned Adelita Project in Sonora, Mexico. The company has started drilling Hole AG_CG_PH2_003 (“Hole 3”) with a second, track-mounted rig, collared about 100 metres along strike from Phase I discovery hole AG_GC_002 and planned to a depth of 450 metres.

According to Algo Grande, Hole 3 aims to confirm and extend five known skarn horizons and test for additional horizons in previously untested limestone. Phase II Hole AG_CG_PH2_002 (“Hole 2”) has advanced to roughly 300 metres toward a 700-metre target, with mineralized core currently being cut and prepared for shipment to ALS Laboratories in Hermosillo. Phase I hole AG_GC_002 previously intersected a stacked, five-horizon skarn system with a combined 41.59 metres of mineralized skarn across five non-contiguous intervals, which remain open for expansion.

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• at Cerro Grande: Hole AG_CG_PH2_003 ("Hole 3") has commenced drilling at the Cerro Grande skarn target, collared approximately 100 metres along strike from the Phase I discovery hole, AG_GC_002 (see news release here), and planned to a total depth of 450 metres.

• Hole 3 objectives: confirm and expand the five known skarn horizons at Cerro Grande while testing for additional mineralized horizons in previously untested limestone.

• Hole 2 (AG_CG_PH2_002) continues to advance: now at ~300 metres of its planned 700-metre depth, with core from the copper-bearing intervals disclosed in the Company's July 28, 2026 release being cut and shipped to ALS Laboratories in Hermosillo. A further update will follow.

VANCOUVER, BC / ACCESS Newswire / July 31, 2026 / Algo Grande Copper Corp. ("Algo Grande" or the "Company") (TSX-V:ALGR)(OTC PINK:ALGRF)(FRA:KM00) announces the commencement of drilling on Hole AG_CG_PH2_003 ("Hole 3") at the Cerro Grande skarn target, at the Company's 100%-owned Adelita Project in Sonora, Mexico, using the second, track-mounted drill rig mobilized to the project as previously announced. Hole 3 is designed to improve confidence on two historical skarn horizons, test the along-strike extension of three additional horizons discovered during the Company's Phase I drill program, and explore for further horizons within previously unexplored limestone beyond the currently known section. Hole AG_CG_PH2_002 ("Hole 2") continues to advance and has reached approximately 300 metres toward its planned 700-metre total depth. A successful result from Hole 3 would support the Company's interpretation of a laterally and vertically extensive skarn system at Cerro Grande with further expansion potential.

Figure 1. Drill rig spudding Hole AG_CG_PH2_003 at the Cerro Grande skarn target

Hole 3 Objective: Chasing New Skarn Zones Discovered in Phase I

The Phase I drill program at Cerro Grande comprised approximately 2,000 metres across four holes, completed in February 2026. On February 5, 2026, the Company reported drill hole AG_GC_002 had intersected three additional skarn horizons not previously known, alongside two shallower, previously known horizons, confirming a stacked, five-horizon skarn system at Cerro Grande. The three new horizons were encountered at a downhole depth of 339 metres along the hole's angled trajectory (dip -50°), in ground not previously tested at Cerro Grande. Skarn mineralization at Cerro Grande also outcrops at surface elsewhere along the corridor, so this figure reflects AG_GC_002's specific angled path, not the true depth at which skarn mineralization begins in the broader system. Across all five horizons, AG_GC_002 intersected a combined 41.59 metres of mineralized skarn across five separate, non-contiguous intervals (individual interval grades are shown in Table 1 below).

Hole 3 in Phase II targets these five horizons, which remain open for expansion. The two historical horizons require further drilling to improve geological confidence, the three newly discovered horizons were identified in a single drill hole and remain untested along strike, and the limestone package that hosts all five horizons extends beyond the currently drill-tested section, raising the possibility of additional, as yet undiscovered horizons.

Table 1. Significant Intersects in Hole AG_GC_002 from the Phase I Drill Program. Shaded blue rows indicate horizons known prior to Phase I; shaded orange rows indicate horizons newly discovered during Phase I.

Note: These results were previously disclosed in the Company's news release dated February 5, 2026, "Algo Grande Discovers Three New Skarn Horizons, Reports 36.00 Metres Above 1.0% Copper, Including 14.79 Metres of 1.4% Copper and Identifies Evidence for Porphyry Potential at Depth." Intervals reported are downhole lengths; true widths are unknown. For clarity, Hole AG_GC_002 was drilled during the Company's Phase I program and is a different hole from Hole AG_CG_PH2_002 ("Hole 2"), the current Phase II hole discussed elsewhere in this release.

Hole AG_CG_PH2_003 Details

Hole 3 is collared at 738,994 mE / 2,961,792 mN (WGS84, UTM Zone 12N), elevation 490 metres, with an azimuth of 250° and a dip of -55°, and is planned to a total depth of 450 metres.

Drilling is in progress. Core will be logged, photographed, and sampled using the Company's standard procedures, with samples submitted to ALS Laboratories for analysis.

Hole AG_CG_PH2_002 Update

Hole 2 continues to advance successfully and has now reached approximately 300 metres toward its planned total depth of 700 metres. Core from the mineralized intervals in Hole 2 (146.70 to 176.93 metres) disclosed in the Company's news release dated July 28, 2026 is being cut and prepared for shipment to ALS Laboratories' facility in Hermosillo, Sonora, with shipment expected in the coming week. Assay results for Hole 2 will be reported once received, reviewed, and verified. The Company will provide a further update on Hole 2's progress in due course.

Qualified Person

The scientific and technical information disclosed in this news release has been reviewed and approved by João Rocha, EurGeol, Vice President of Exploration of Algo Grande Copper Corp., a Qualified Person as defined by National Instrument 43-101.

About Algo Grande Copper Corp.

Algo Grande Copper Corp. is a growth-focused mineral exploration company advancing the Adelita Project, a district-scale, multi-system copper-silver-gold opportunity positioned in the prolific Arizona-Sonora copper belt. The 5,895-hectare Adelita Project is anchored by the high-grade Cerro Grande Cu-Ag-Au skarn discovery, which exhibits strong continuity along a defined corridor extending over 6 kilometres. Reprocessing of legacy geophysical data and field mapping indicate the presence of a potential porphyry system at depth, suggesting a classic skarn-porphyry mineralization model similar to major deposits found throughout northwestern Mexico.

ON BEHALF OF ALGO GRANDE COPPER CORP.

Enrico Gay
Chief Executive Officer
For more information, please contact:
E-mail: info@algo-grande.com
Website: www.algo-grande.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Algo Grande to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the Company's Phase II drilling program, the interpretation of drill results and geological models, the potential for skarn expansion along strike and at depth, and those listed in filings made by Algo Grande with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on any such forward-looking information. Algo Grande does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

Drill results and geological interpretations described herein are preliminary and assay results remain pending.

SOURCE: Algo Grande Copper Corp.

View the original press release on ACCESS Newswire

FAQ

What did Algo Grande Copper (ALGRF) announce on July 31, 2026 about Phase II drilling at Cerro Grande?

Algo Grande Copper announced that Phase II Hole 3 has started drilling and Hole 2 has reached about 300 metres. According to Algo Grande, Hole 3 targets five known skarn horizons and potential new horizons, while Hole 2 samples are being prepared for ALS Laboratories assays.

What is the objective of Hole AG_CG_PH2_003 (Hole 3) in Algo Grande Copper’s Adelita Project?

Hole 3 is designed to confirm and expand five known skarn horizons and test for additional horizons. According to Algo Grande, it targets two historical and three Phase I-discovered skarn horizons, plus unexplored limestone that could host further mineralized zones at Cerro Grande.

How far has Hole AG_CG_PH2_002 (Hole 2) progressed in Algo Grande Copper’s Phase II program?

Hole 2 has advanced to approximately 300 metres toward a planned 700-metre total depth. According to Algo Grande, core from mineralized intervals between 146.70 and 176.93 metres is being cut and prepared for shipment to ALS Laboratories in Hermosillo for assay analysis.

What did Phase I hole AG_GC_002 discover at Cerro Grande for Algo Grande Copper (ALGRF)?

Phase I hole AG_GC_002 intersected a stacked, five-horizon skarn system with 41.59 metres of mineralized skarn. According to Algo Grande, this included two previously known and three newly discovered horizons, encountered at downhole depth around 339 metres along an angled drill trajectory.

Where is Hole AG_CG_PH2_003 located and how deep will it be drilled at Cerro Grande?

Hole 3 is collared at 738,994 mE / 2,961,792 mN, elevation 490 metres, with a planned 450-metre depth. According to Algo Grande, it is drilled at azimuth 250° and dip -55°, about 100 metres along strike from discovery hole AG_GC_002.

When will Algo Grande Copper report assay results for Hole 2 in the Adelita Project?

Assay results for Hole 2 will be released after they are received, reviewed, and verified. According to Algo Grande, mineralized core is being cut and shipped to ALS Laboratories, and a further update on both assays and drilling progress will follow in due course.

What is the Adelita Project and how does Cerro Grande fit into Algo Grande Copper’s strategy?

The Adelita Project is a 5,895-hectare copper-silver-gold exploration property in the Arizona-Sonora copper belt. According to Algo Grande, it is anchored by the high-grade Cerro Grande Cu-Ag-Au skarn discovery, with evidence suggesting a broader skarn-porphyry mineralization system at depth.