Astra Commences Phase II Drilling at La Manchuria Gold and Silver Project in the Deseado Massif, Argentina

Rhea-AI Summary

Astra Exploration (OTCQB: ATEPF) has mobilized equipment and started a Phase II diamond drilling program at the La Manchuria gold-silver project in Santa Cruz, Argentina.

The program is planned for approximately 10,000 metres of DDH, with 5,000 metres scheduled by December 2025 and a further 5,000 metres in Q1 2026. All planned drilling is fully funded with a reported treasury balance of over C$7,000,000.

Phase I results (May 2025) indicated a larger-than-expected vein system with numerous near-surface intervals of significant gold and silver grades and support for an epithermal system open in all directions; detailed mapping shows low-temperature silica, vein fragments, and favorable host rocks in andesitic units and post-mineral breccias. Additional drill-program details will be released in coming weeks.

Positive

• 10,000 metres Phase II drilling planned
• 5,000 metres targeted by December 2025
• Planned drilling fully funded with treasury > C$7,000,000
• Phase I found multiple near-surface high-grade gold-silver intervals

Negative

• No mineral resource or reserve reported to date

Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) - Astra Exploration Inc. (TSXV: ASTR) (OTCQB: ATEPF) (FSE: S3I) ("Astra" or the "Company") is pleased to announce that mobilization of equipment for the Phase II drill program has taken place and drilling is underway at the La Manchuria Gold and Silver Project in Santa Cruz, Argentina.

The program will follow up drill targets generated by the Phase I program completed in May of this year and is expected to consist of approximately 10,000 metres of DDH drilling. The Company expects to complete 5,000 metres by December, and another 5,000 metres in Q1 of 2026. All planned drilling is fully-funded, with a treasury balance of over C$7,000,000.

The Phase I drill program indicated that La Manchuria encompasses a much larger vein system than previously recognized, with numerous intervals of significant gold and silver grades near surface (see June 10 & 25, 2025 news releases). The Phase I results support Astra's geological model that mineralization is open in all directions, further indicating the presence of a preserved epithermal system partially concealed by post-mineral volcanics.

Detailed mapping has revealed the presence of low temperature silica and vein fragments at surface, which are contained in andesitic rocks and post-mineral breccias. Mapping also confirms favorable host rock units at depth, adding potential for La Manchuria to host a large, robust high-grade gold-silver epithermal system. The Company will be providing additional details about the drill program in the coming weeks.

About the Company

Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is actively building a portfolio of high-quality projects in some of the most important mining jurisdictions in Latin America.

The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including Cerro Vanguardia and Cerro Negro, Santa Cruz, Argentina.

The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda. The project shares several important geological similarities to other Paleocene LSE gold-silver deposits including Faride and El Peñón.

The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE) +/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt. The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.

Qualified Person

The technical data and information as disclosed in this news release has been reviewed and approved by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

For further information please contact:

Brian Miller
Chief Executive Officer
Tel. 604.428.0939
Email: brian.miller@astra-exploration.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward- looking statements or information. These forward-looking statements or information may relate to the Company's business activities; exploration on the Company's properties including drilling at the La Manchuria project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedar.com. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272332

FAQ

What is Astra (ATEPF) drilling at La Manchuria and how many metres are planned?

Astra has begun a Phase II DDH program at La Manchuria with approximately 10,000 metres planned.

What is the Astra (ATEPF) drilling timeline for La Manchuria in 2025–2026?

The company expects to complete 5,000 metres by December 2025 and the remaining 5,000 metres in Q1 2026.

Is Astra (ATEPF) funded for the La Manchuria Phase II drill program?

Yes; the company says all planned drilling is fully funded and reports a treasury balance of over C$7,000,000.

What did Astra (ATEPF) learn from Phase I at La Manchuria?

Phase I indicated a larger vein system with numerous near-surface significant gold and silver intervals and that mineralization is open in all directions.

What geological features support prospectivity at La Manchuria for Astra (ATEPF)?

Detailed mapping found low-temperature silica, vein fragments, and favorable host units in andesitic rocks and post-mineral breccias.