Coppernico Amends Option Agreement at Sombrero to Advance Drill Permits

Rhea-AI Summary

Coppernico Metals (OTCQB: CPPMF) has announced key amendments to its option agreement with Aceros Arequipa for the Sombrero Project in Peru. The amended agreement extends the deadline to December 13, 2029 for completing remaining work expenditures and enables full exploration of the Fierrazo target.

Historical drilling at Fierrazo has shown promising results, including 116 metres of 0.42% copper and 0.24 g/t gold. The company is preparing to file its Environmental Impact Assessment permit application for drilling and has assumed responsibility for environmental rehabilitation at the site.

The company continues to engage with local communities and is developing agricultural programs in the region while advancing its exploration efforts at what it believes could become a premier copper exploration district.

Positive

• Extension of option agreement deadline to December 2029 provides more operational flexibility
• Historical drilling shows significant copper-gold mineralization at Fierrazo target
• Progress toward obtaining drilling permits with imminent EIA-Sd filing
• Strong community engagement and development of agricultural programs

Negative

• Additional environmental rehabilitation responsibilities and costs assumed
• Pending determination of future reclamation work costs
• Drilling permits not yet secured

VANCOUVER, British Columbia, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF, FSE: 9I3) (“Coppernico” or the “Company”), through its wholly owned Peruvian subsidiary, Sombrero Minerales SAC, is pleased to announce that it has amended agreements (the “Amendments”) in relation to its existing option with Aceros Arequipa S.A. (“Aceros”) (the “Aceros Option”), which includes three key concessions covering Nioc and Fierrazo, two cornerstone targets in the unfolding district-scale copper-gold Sombrero Project in Peru (Figure 1).

Key Highlights of the Amendments

• The term of the Aceros Option has been extended, providing the Company until December 13, 2029 to complete the remaining work expenditures required under the first phase of the agreement.
• The Amendments give the Company the opportunity to now fully explore, and importantly, once permitted, drill the Fierrazo target.
  • Historical drilling at Fierrazo returned values including 116 metres (“m”) of 0.42% copper (“Cu”) and 0.24 g/t gold (“Au”), 90.4 m of 0.48% Cu and 0.05 g/t Au, and 51 m of 0.43% Cu and 0.16 g/t Au (Table 1 – see news release dated June 13, 2019, issued by predecessor Auryn Resources, now Fury Gold Mines, for related technical disclosures).
• The Company has assumed responsibility for rehabilitating historical and future environmental disturbances at Fierrazo, with a reclamation plan underway.

With the Amendments in place, the Company plans to initiate surface exploration at Fierrazo and continues to advance permits for drilling with the imminent filing of its Environmental Impact Assessment – Semi-detailed (“EIA-Sd”) permit application.

Ivan Bebek, Chair and CEO of Coppernico, commented, “We are pleased to have amended our option agreement with Aceros, reflecting the collaborative nature of the relationship. This Amendment is an important step toward securing drill permits for our Fierrazo target, which we are advancing.

Engaging with local communities and stakeholders has been a top priority for the Sombrero Project since its inception and will remain so moving forward, together with the commitment to a safe working environment and job creation. We believe that Sombrero has the potential to become a premier copper exploration district, given the scale of the numerous targets we are identifying and geological data being collected. This conviction complements our efforts to develop impactful agricultural programs in the region, with active participation from local communities and support from the government.

We appreciate Aceros’ collaboration on this Amendment, which will help us advance the Project more efficiently. Further updates on permit progress, exploration results, and new claims in the region will follow in the near future.”

Figure 1: The Aceros Option includes the Fierrazo and Nioc targets within the Sombrero Project.

Environmental Rehabilitation Efforts

As part of the Amendments, the Company has agreed to assume responsibility to rehabilitate both the historical and future environmental disturbance on the Fierrazo concession. The reclamation work is to be undertaken in the event that additional economic mineralization is not encountered and therefore the permit, and any environmental disturbance, would require closure. The Company is currently working with Peruvian environmental authorities to establish a plan for the reclamation which will determine the estimated future cost of the work.

About Fierrazo

Fierrazo is a copper-gold skarn target located on the northeast side of the Ccascabamba area within Coppernico’s Sombrero Project. The target was first recognized through erosional windows that exposed skarn and porphyry-style mineralization, supporting the broader exploration concept that the Andahuaylas-Yauri belt continues beneath volcanic cover at Sombrero. Fierrazo was originally explored by Aceros, Peru’s largest steel producer, who completed eight drill holes in 2013, totaling 988 metres, primarily targeting iron skarn mineralization (Figure 2). In 2019, the Company’s predecessor, Auryn Resources (now Fury Gold Mines), resampled the historical drill core, which confirmed significant copper and gold values associated with massive magnetite skarn (see Auryn Resources news release dated June 13, 2019). Subsequent exploration work included mapping, geochemistry, and geophysics.

Figure 2: Plan view and cross-section of the Fierrazo target showing historical drill holes completed by Aceros in 2013, along with proposed drill holes for the planned Phase 2 drill program.

Historical drilling intersected long intervals of mineralization, including 116 m of 0.42% Cu and 0.24 g/t Au, 90.4 m of 0.48% Cu and 0.05 g/t Au, and 51 m of 0.43% Cu and 0.16 g/t Au (Table 1 - see Auryn Resources news release dated June 13, 2019). Collectively, these results define a mineralized body with an initial strike length of 300 metres and yet to be defined thickness, with both strike and dip extents remaining open. A Phase 2 drill program, designed to expand and define the mineralized footprint, is contingent upon obtaining expanded drill permits which will incorporate the Fierrazo target.

Table 1: Shallow Historical Drilling at Fierrazo Target¹

Hole ID	Interval 2 (m)	% Cu	g/t Au
FE-DDH-01A	90.4	0.48	0.05
including	41.8	0.88	0.02
FE-DDH-01B	64.1	0.32	0.08
including	33.5	0.51	0.13
FE-DDH-02	51	0.43	0.16
including	20.95	0.70	0.25
	52	0.17	0.07
	6	0.15	0.02
	14	0.36	0.19
including	6	0.58	0.34
	27	0.17	0.28
FE-DDH-03A	116	0.42	0.24
including	64	0.64	0.38
FE-DDH-03B	50.8	0.44	0.15
FE-DDH-04	125.25	0.20	0.14
including	11	0.41	0.34
and	21.6	0.33	0.21
FE-DDH-05	76.4	0.31	0.14
including	5.65	0.80	0.14
and	27.75	0.41	0.20
FE-DDH-06	52	0.24	0.06
including	13.45	0.42	0.10

1. 2013 drilling completed by Aceros was only assayed for iron and was resampled by Auryn in 2019 (see news release dated June 13, 2019, issued by predecessor Auryn Resources, now Fury Gold Mines, for technical disclosures regarding the resampling process).
2. No less than 5m of >= 0.1% Cu, maximum dilution 6 m. True thickness of mineralization is unknown.

Tim Kingsley, VP Exploration, commented, “These Amendments significantly strengthen our long-term position at Sombrero by expanding exploration opportunities at Fierrazo, while ensuring responsible stewardship through proactive environmental commitments. Fierrazo has long been considered one of the most compelling drill targets within the Sombrero Project, with a broad zone of high-grade copper-gold magnetite skarn mineralization exposed at surface and strong indications of vertical continuity that remain open at depth.

Fierrazo shares many geological similarities with the nearby Nioc target area, where recent channel sampling confirmed additional mineralized magnetite skarn systems. The scale, geometry, and grade potential at both targets reinforce the district-scale opportunity unfolding across Sombrero.”

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s VP of Exploration, who is a “Qualified Person” (as defined in NI 43-101).

ON BEHALF OF THE BOARD OF DIRECTORS

Ivan Bebek
Chair & CEO

For further information, please contact:

Coppernico Metals Inc.

Phone: +1 778 729 0600

Email: info@coppernicometals.com

Website: www.coppernicometals.com

Twitter: @CoppernicoMetal

LinkedIn: www.linkedin.com/company/coppernico-metals/

About Coppernico

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration, in pursuit of the discovery of premier copper-gold deposits in the Americas. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company’s objective is to become a leading advanced copper and gold explorer, and through its wholly owned private Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition.

The Sombrero Project is a land package of approximately 53,800 hectares (538 square kilometres) located in the north-western margins of the world-renowned Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems and precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero Project.

Coppernico Metals Inc. is currently listed on the Toronto Stock Exchange under the symbol “COPR”, trades on the OTCQB Venture Market under symbol “CPPMF” and is quoted over the counter by certain dealers in the Unofficial Market of the Frankfurt Stock Exchange under the symbol “9I3”. More information about Coppernico can be found on the Company’s profile on SEDAR+ (www.sedarplus.ca).

Cautionary Note

No regulatory organization has approved the contents hereof.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions and include, but are not limited to, statements with respect to: the interpretation of geological mapping and sampling results, the prospective nature of identified targets for future exploration, the potential of the interpreted mineralized systems, the progress and approval of permits, the potential expansion of the mineralization beyond currently permitted areas, and the Company’s drill plans. No certainty can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s 2024 Annual Information Form and other continuous disclosure filings with the Canadian Securities Administrators, available at www.sedarplus.ca. These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place heavy reliance on forward-looking statements. The forward-looking statements contained in this new release are expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company’s expectations except as otherwise required by applicable legislation.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/6b56b2e1-c52a-423a-9b68-9b47e14264f2
https://www.globenewswire.com/NewsRoom/AttachmentNg/a53ea8d2-e0f5-42fc-b79b-e21b65514170

FAQ

What are the key terms of Coppernico's (CPPMF) amended option agreement for Sombrero?

The amendment extends the deadline to December 13, 2029 for completing work expenditures and allows full exploration of the Fierrazo target, while adding environmental rehabilitation responsibilities.

What are the historical drilling results at Coppernico's Fierrazo target?

Historical drilling revealed 116 metres of 0.42% copper and 0.24 g/t gold, 90.4 metres of 0.48% copper and 0.05 g/t gold, and 51 metres of 0.43% copper and 0.16 g/t gold.

What environmental commitments has Coppernico (CPPMF) made at the Sombrero Project?

Coppernico has assumed responsibility for rehabilitating both historical and future environmental disturbance at the Fierrazo concession, and is working with Peruvian authorities on a reclamation plan.

What is the current status of Coppernico's drilling permits for the Sombrero Project?

The company is preparing to file its Environmental Impact Assessment – Semi-detailed (EIA-Sd) permit application for drilling authorization.

How is Coppernico (CPPMF) engaging with local communities at Sombrero?

The company is developing agricultural programs with local community participation, maintaining community engagement as a top priority, and focusing on creating job opportunities in the region.