Coppernico Files Expanded Drill Permit at its Copper-Gold Sombrero Project in Peru

Rhea-AI Summary

Coppernico Metals (OTCQB: CPPMF) submitted an Environmental Impact Assessment – Semi-detailed (EIA-Sd) drill permit application on Nov 24, 2025 for its Sombrero Project in Peru.

The Application requests an expansion of the permitted drill area by ~2,120 hectares to 3,024 ha, an increase in drill platforms from 38 to 181, and authorization to deploy additional drill rigs to target Fierrazo, Corrales, Tipicancha, Chumpi, and Escondida South. The filing follows baseline environmental and social studies and ongoing community engagement. Management says the company is financed into mid‑2026 and plans near‑term surface results, permit advances, and more community access agreements.

Positive

• Drill area expanded by ~2,120 ha to 3,024 ha
• Drill platforms increased from 38 to 181
• Targets added: Fierrazo, Corrales, Tipicancha, Chumpi, Escondida South
• Baseline studies completed supporting permit application
• Funded runway into mid‑2026 for near‑term work

Negative

• Permit pending; expansion not yet approved and may face delays
• Community access agreements still required to unlock expanded targets

VANCOUVER, British Columbia, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF, FSE: 9I3) (“Coppernico” or the “Company”), through its wholly owned private Peruvian subsidiary, Sombrero Minerales SAC, is pleased to announce that, having completed all required environmental studies, it has formally submitted an Environmental Impact Assessment – Semi-detailed ("EIA-Sd") drill permit application (the "Application") for its Sombrero Project in Peru. The permit, once granted, will facilitate expanded exploration opportunities across multiple high-priority copper-gold targets within and beyond the Ccascabamba target area, where the Company’s previous drilling was focused.

The Application proposes a considerable expansion of the currently permitted drill area by approximately 2,120 hectares (ha), for a total area of 3,024 ha (Figure 1), incorporating additional highly prospective targets. It also seeks to increase the number of drill platforms from 38 to 181, as well as the ability to deploy additional drill rigs. Targets covered by the Application include Fierrazo, Corrales, Tipicancha, Chumpi, and Escondida South, which are characterized by compelling geophysical and geochemical signatures (Figure 1), including strong historical drill data from Fierrazo (Figure 2).

Figure 1: Map of the currently permitted drill area, and the proposed 2025 drill permit expansion, illustrating key targets and the geochemical and geological context within Sombrero.

Ivan Bebek, Chair and CEO of Coppernico, commented, “The submission of this expanded permit application is a big step forward for our Sombrero Project, as it will provide access to multiple additional key targets and allow for a greater number of drill pads as we finalize our plans for Phase 2 drilling.

Our initial drill results announced earlier this year vectored our targeting beyond our current permit boundaries. The new permit will open up key areas of the project including our most advanced Fierrazo target, where historical drilling has already revealed significant copper mineralization in the third dimension, and our new Tipicancha target.

This expanded permit will not only enhance access to several key targets, but once obtained, it will also enable us to provide the local communities with additional employment opportunities. The Company is financed into the middle of 2026 with numerous milestones planned for over the next six months, including results from ongoing surface exploration, permit advancements, and additional community access agreements within our concessions.”

Figure 2: Historical drilling, channel samples and planned drill holes at the Fierrazo target.

The submission of this permit follows extensive baseline environmental and social studies, as well as continued engagement with local communities, reinforcing the Company's commitment to responsible exploration and stakeholder collaboration.

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 56,400 hectares (564 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 Company’s drill plans, identifying targets for future exploration, the potential of the mineralization, the likely progress and ultimately approval of, permits and other authorizations, and the potential discovery, viability or expansion of any mineralization. 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/17d8e2e9-17fd-4d3c-b35e-e8de5428d964

https://www.globenewswire.com/NewsRoom/AttachmentNg/30ae081b-1068-46f9-a6b3-4701fa66aadb

FAQ

What did Coppernico (CPPMF) apply for at Sombrero on Nov 24, 2025?

Coppernico submitted an EIA‑Sd drill permit application seeking expanded drilling across a total of 3,024 ha.

How many drill platforms will Coppernico (CPPMF) be allowed if the Sombrero permit is approved?

The Application requests increasing drill platforms from 38 to 181 and permission for additional drill rigs.

Which targets are included in Coppernico’s (CPPMF) Sombrero permit expansion?

Targets named include Fierrazo, Corrales, Tipicancha, Chumpi, and Escondida South.

Does Coppernico (CPPMF) have funding to complete near‑term Sombrero work?

Management states the company is financed into mid‑2026 to support planned milestones.

What approvals or studies supported Coppernico’s (CPPMF) Sombrero permit submission?

The submission follows completed baseline environmental and social studies and ongoing local engagement.

What are the main risks for Coppernico’s (CPPMF) expanded Sombrero permit?

Primary risks are permit approval delays and the need to finalize additional community access agreements.