Pecoy Copper Defines Large Untested MTP-01 Target Beyond Newly Expanded Northwest Copper Mineralization

Pecoy Copper shifts a fourth drill rig to systematically test the large, largely untested MTP-01 target northwest of its existing Pecoy resource.

Rhea-AI Summary

Pecoy Copper (PCUUF) reported an updated 3D geophysical interpretation and new Northwest exploration focus at its Pecoy project in southern Peru.

Integration of Spartan MT, IP, magnetics, geology and historical plus 2026 drilling has defined four MT targets (MTP-01 to MTP-04) extending beyond the current mineralized footprint. The principal MTP-01 anomaly is approximately 1.2 km wide and 1.0 km in vertical extent, with coincident IP and magnetic responses, and remains largely untested. Recent hole PEC26-067 returned 209.0 m at 0.40% Cu from 15.0 m, including 42.3 m at 1.01% Cu and 11.1 m at 1.90% Cu, plus a separate 296.0 m interval at 0.24% Cu. A fourth drill rig has been allocated to systematically test the Northwest/MTP-01 area. Pecoy hosts an inferred mineral resource of 865 Mt at 0.34% Cu.

Positive

• Large untested MTP-01 target ~1.2 km wide and ~1.0 km in vertical extent within the 3D MT model, with coincident IP and magnetic responses
• Strong drill hole PEC26-067: 209.0 m at 0.40% Cu from 15.0 m, including 42.3 m at 1.01% Cu and 11.1 m at 1.90% Cu, plus 296.0 m at 0.24% Cu and 0.009% Mo below the historical pit shell
• Established calibration domain MTP-02 supported by broad historical intervals such as PEC-056 with 470.0 m at 0.35% Cu and PEC-062 with 378.0 m at 0.35% Cu
• Fourth drill rig allocated specifically to Northwest/MTP-01, increasing exploration intensity on the main growth target
• Large inferred resource base: 865 million tonnes at 0.34% Cu with additional Au, Mo and Ag credits at Pecoy

Negative

• MTP-01 core untested: none of the cited holes directly test the interpreted MTP-01 core and continuity into the target remains unproven
• Geophysical ambiguity: MT resistivity, IP and magnetic anomalies are interpretive, non-unique and are not direct evidence of mineralization, requiring extensive drilling
• Resource stage risk: current mineral inventory is classified as inferred resources, which are not mineral reserves and do not have demonstrated economic viability

News Explained

A fourth rig is committed to testing MTP-01, but no direct mineralization result from the target has been reported.

Pecoy Copper has allocated a fourth drill to the Northwest/MTP-01 program, with PEC26-081 testing northward and pads being prepared for direct MTP-01 drilling; the project remains in exploration, and the interpreted core has not yet been directly tested.

MTP-01 is an interpretive geophysical target combining MT, IP and magnetic responses, not direct evidence that mineralization is present. The disclosed outcome is therefore a drill-testing program rather than a completed MTP-01 result.

The material resolution point is assay and geological information from direct holes across MTP-01's sections and elevations, which the company says is required to determine the anomaly's geological source.

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Historical and recent drilling support a mineralized vector toward a large multi-parameter MT, IP and magnetic target MTP-01; systematic drill testing underway

VANCOUVER, British Columbia, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Pecoy Copper Corp. (“Pecoy Copper” or the “Company”) (TSXV: PCU; FSE: D5E; OTCQB: PCUUF) is pleased to announce an updated integrated geophysical interpretation following the 2026 drill results and the recently completed Spartan magnetotelluric (“MT”) survey at its 100%-owned Pecoy Copper-Gold-Molybdenum-Silver Project (“Pecoy” or the “Project”) in southern Peru.

Integration of the three-dimensional (“3D”) MT resistivity model with new and historical drilling, geology, induced polarization (“IP”) chargeability and magnetics has identified four principal MT target areas (“MTP-01 to MTP-04”) across and beyond the currently drilled mineralized footprint. The targets include responses associated with the known South Breccia and EDM mineralized zones, together with large or previously untested responses warranting further investigation.

MTP-01 is the principal untested Northwest opportunity. Immediately southeast, historical PEC-056, PEC-058 and PEC-062 establish a broad mineralized Cu-Mo/EDM domain at MTP-02; while farther northwest, PEC-063 and recently reported PEC26-067 extend mineralized drilling evidence toward MTP-01. PEC26-067 returned 209.0 m grading 0.40% Cu from 15.0 m, including 42.3 m grading 1.01% Cu and 11.1 m grading 1.90% Cu, together with a separate 296.0 m interval grading 0.24% Cu and 0.009% Mo below the historical pit shell to end of hole. PEC26-067 provides an important mineralized vector toward MTP-01 and may have sampled peripheral hydrothermal architecture between the established MTP-02 system and MTP-01; however, it did not directly test the interpreted MTP-01 core.

Highlights:

• Large MTP-01 geophysical response remains largely untested: approximately 1.2 km wide and approximately 1.0 km in vertical extent within the 3D MT model, with coincident IP chargeability and magnetic responses.
• Historical drilling establishes a mineralized system immediately southeast of MTP-01: PEC-056, PEC-058 and PEC-062 calibrate the broad MTP-02 Cu-Mo/EDM domain, while PEC-063 provides a mineralized step northwest toward MTP-01.
• Recent PEC26-067 strengthens the Northwest vector: 209.0 m grading 0.40% Cu from 15.0 m, including 42.3 m grading 1.01% Cu and 11.1 m grading 1.90% Cu, plus a separate 296.0 m mineralized interval below the historical pit shell. The interpreted MTP-01 core remains largely untested.
• Fourth drill allocated to Northwest/MTP-01: the rig has been allocated to the Northwest/MTP-01 program. Current drilling northward, while additional pads are being prepared for systematic MTP-01 testing across multiple sections and elevations.
• See VRIFY model here: https://vrify.com/decks/23960
• Register for Pecoy Copper webinar: Thursday September 10^th, 11:30am ET. Click here to register.

Figure 1: NE-looking section through the 3D MT resistivity model showing MTP-01 to MTP-04, the South Breccia body and known EDM mineralized intervals. PEC26-067 is shown southeast of the largely untested MTP-01. Fourth drill mobilized to test MTP-01.

Note: Geophysical responses are interpretive and are not direct evidence of mineralization

Table 1: Selected Historical and Recent Drilling Relevant to MTP-02 and the Northwest Vector

Hole	From (m)	To (m)	Length (m)	Cu (%)	Au (g/t)	Mo (%)	Ag (g/t)	Interpretation
PEC-056	164.0	634.0	470.0	0.35	0.027	0.016	1.30	MTP-02 calibration
incl.	312.0	632.0	320.0	0.40	0.031	0.016	1.42
PEC-058	301.0	368.0	67.0	0.35	0.028	0.013	1.38	MTP-02 / western calibration
incl.	301.0	340.0	39.0	0.40	0.030	0.012	1.58
and	474.0	542.0	68.0	0.35	0.029	0.017	1.21
PEC-062	294.0	672.0	378.0	0.35	0.028	0.009	1.30	MTP-02 calibration
incl.	472.0	670.0	198.0	0.40	0.028	0.011	1.49
PEC-063	32.0	222.0	190.0	0.35	0.025	0.024	1.01	Northwest vector toward MTP-01
incl.	38.8	146.0	107.2	0.40	0.027	0.017	0.98
and	296.0	337.5	41.5	0.36	0.029	0.020	1.16
incl.	306.0	333.0	27.0	0.40	0.031	0.022	1.21
PEC26-067	15.0	224.0	209.0	0.40	0.020	0.011	1.32	Northwest vector toward MTP-01

Note: Historical intervals are downhole lengths calculated from the final historical assay workbooks; true widths have not been determined. PEC-056, PEC-058 and PEC-062 are interpreted primarily as MTP-02 calibration. PEC-063 and PEC26-067 provide the more relevant Northwest mineralized vector toward MTP-01. Selected stronger internal and deeper intervals are discussed below. Continuity into MTP-01 remains unproven.

Vincent Metcalfe, President and CEO of Pecoy Copper commented: “The work goes well beyond the geophysics. Historical drilling, recent drilling, geology and multiple geophysical datasets are building a coherent exploration vector toward MTP-01, while the interpreted core of this large target remains largely untested. With a fourth drill rig dedicated to the Northwest/MTP-01 program, we are moving from target generation to systematic testing of what we believe has the potential to become an important new growth area at Pecoy.”

MT Survey Program & Updated Geophysical Interpretation

The Spartan MT survey was completed by Quantec Geoscience Perú S.A.C. and comprised 85 sites over approximately 3.2 km by 3.4 km. Integration of the 3D resistivity model with drilling shows that known mineralization has more than one geophysical expression: MTP-03 at South Breccia corresponds with strong low resistivity, while the MTP-02 EDM domain is associated with more moderate resistivity. This contrast reinforces the Company's use of MT together with geology, drilling, IP and magnetics rather than resistivity magnitude alone.

MTP-01 – Large, Largely Untested Northwest Multi-Parameter Target

MTP-01 is a large Northwest target characterized by low resistivity. On section 712900, the principal response is approximately 1,200 m wide and approximately 1,000 m in vertical extent within the 3D model, with medium-to-high IP chargeability and a coincident magnetic response. PEC-056, PEC-058 and PEC-062 calibrate the established MTP-02, while PEC-063 and PEC26-067 provide the more relevant mineralized vector northwest toward MTP-01. The principal MTP-01 response remains largely untested, and drilling is required to determine the geological source of the anomaly.

MTP-02 – Established Cu-Mo / EDM Calibration Domain

MTP-02 encompasses the geophysical architecture associated with the known EDM mineralized trend. As summarized in Table 1, PEC-056, PEC-058 and PEC-062 demonstrate broad Cu-Mo mineralization within this drilled domain. Historical geological interpretation associates the principal PEC-056 and PEC-062 mineralization with potassic alteration and strong Early Dark Micaceous (“EDM”) veining, while PEC-058 provides additional western calibration. Together, these holes support MTP-02 as an established mineralized Cu-Mo/EDM calibration domain. Their role is to calibrate the known system southeast of MTP-01 rather than to demonstrate that MTP-01 itself is mineralized.

MTP-03 – South Breccia Calibration

MTP-03 coincides with the South Breccia and provides a direct calibration of the MT model against the known Pecoy mineralized system. The response overlaps the broad mineralized intervals in PEC25-065 and PEC25-066. This relationship supports the use of low-resistivity responses in combination with geological and other geophysical datasets as one exploration criterion for breccia-related mineralization elsewhere at Pecoy, while recognizing that resistivity alone is not diagnostic of mineralization.

MTP-04 – Additional Eastern Geophysical Target

MTP-04 is a moderate-to-high resistivity feature southeast of the principal drilled mineralized system and extends relatively close to surface in the current model. Its geometry and resistivity character may be analogous to portions of the known EDM system; however, MTP-04 remains a secondary exploration concept relative to the MTP-01 Northwest opportunity and requires further geological integration before drill testing.

Figure 2 : MT resistivity level slice at elevation 1,400 m showing MTP-01 to MTP-04 in relation to the current pit design and the location of the NE-looking section shown in Figure 1

Note: Geophysical responses are interpretive and are not direct evidence of mineralization.

Exploration Implications and Northwest/MTP-01 Drill Program

Following the Company's separate announcement of the mobilization of a fourth diamond drill, that rig has been allocated specifically to the Northwest and MTP-01 program. At the time of this release, PEC26-081 is testing northward within the Northwest area and additional pads are being prepared for direct testing of MTP-01. Given the interpreted scale of MTP-01, the Company expects to test the target systematically across multiple sections and elevations rather than relying on a single direct hole.

• continue testing northward within the Northwest area to test the geological and geophysical architecture between known mineralization and the MTP-01 direction;
• complete pad preparation and systematically test MTP-01 across its margins, internal geometry and vertical extent on multiple sections and elevations;
• allocate the fourth drill specifically to the Northwest/MTP-01 program while other rigs continue testing South Breccia and additional priority areas;
• continue using MTP-02 and MTP-03 as contrasting calibration domains to refine geophysical criteria and distinguish productive geological settings from resistivity anomalies alone.

Technical Notes
The MT survey was completed over the Pecoy Project by Quantec Geoscience Perú S.A.C. between March and April 2026. Measurements were collected at 85 sites across an approximately 3.2 km by 3.4 km survey area at a nominal site spacing of approximately 300 m. The 3D inversion used all MT sites and produced a high-resolution 3D resistivity model. The model uses a 50 m by 50 m horizontal cell size.

Historical drill composites quoted in this release were calculated from the final historical assay workbooks using contiguous sample-boundary intervals and length-weighted Cu, Au, Mo and Ag averages. Table 1 presents selected broad composites for PEC-056, PEC-058, PEC-062, PEC-063 and PEC26-067. Where selected 0.35% Cu and 0.40% Cu intervals are discussed in the text, the intervals were defined on a consistent sample-boundary basis using unrounded length-weighted grades; internal lower-grade samples are included and no maximum internal dilution was applied.

Approximate target dimensions and geometries described in this news release are based on the Company's interpretation of the Quantec 3D inversion model and integrated geophysical datasets and should be considered interpretive. Target dimensions and interpretations may change with further modelling, geological integration and drilling. PEC-056, PEC-058 and PEC-062 are interpreted primarily as calibration of MTP-02, while PEC-063 and PEC26-067 provide a mineralized vector toward MTP-01. None of these holes directly tested the interpreted MTP-01 core and continuity into MTP-01 has not been established.

MT data and inversion models are interpretive and non-unique. Resistivity responses may reflect lithology, structure, alteration, porosity, permeability, pore-fluid content, salinity, clay alteration and/or sulphide mineralization. Geophysical anomalies are not direct evidence of mineralization and require geological interpretation and, where warranted, drill testing.

For more information about Pecoy Copper, please visit our website at www.pecoycopper.com.

Qualified Persons and Technical Notes

The scientific and technical information in this news release has been reviewed and approved by Vincent Cardin-Tremblay, P.Geo., Chief Geological Officer of Pecoy Copper, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

An NI 43-101 technical report in respect of the Pecoy Project with an effective date of April 30, 2025 and dated July 23, 2025 was prepared by Mining Plus and is available on SEDAR+ under the Company’s profile. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About Pecoy Copper

Pecoy Copper is advancing the 9,975-hectare Pecoy Copper-Gold-Molybdenum-Silver Project, a large, undeveloped porphyry system located in southern Peru’s Arequipa region, within one of the world’s most prolific copper belts. The Pecoy deposit hosts a current inferred mineral resource of 865 million tonnes at 0.34% Cu, with significant associated gold, molybdenum, and silver credits.

Prior to the Company’s 2026 drill program, less than 49,000 metres of historical drilling had been completed at Pecoy, defining a broad mineralized system with potential for expansion along strike and at depth. The project benefits from its favourable elevation of approximately 1,650 metres above sea level, providing year-round access and reduced operating complexity compared to many high-altitude Andean deposits.

Strategically located near the Pacific coast, Pecoy enjoys excellent infrastructure, with close proximity to highways, power lines, and water sources, and good access to the deep-water ports of Matarani (approximately 240 km southwest) and Ilo. This infrastructure advantage positions Pecoy Copper to advance the project efficiently from exploration toward future development within one of the world’s most established and mining-friendly jurisdictions.

The Company's common shares trade on the TSX Venture Exchange under the symbol PCU, on the Frankfurt Stock Exchange under the symbol D5E and on the OTCQB under the symbol PCUUF.

For further information, please contact:

Vincent Metcalfe, President & CEO
Pecoy Copper Corp.
Suite 2700, 666 Burrard Street, Vancouver, BC V6C 2X8
Tel: (514) 249-9960 | Email: info@pecoycopper.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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the integration and interpretation of MT, IP, magnetic, geological and drilling datasets; the geological significance and potential source of MTP-01 and other geophysical anomalies; the interpretation that PEC-063 and PEC26-067 provide a geological vector toward MTP-01 and that PEC26-067 may have sampled peripheral hydrothermal architecture between MTP-02 and MTP-01; the allocation and use of the fourth drill in the Northwest/MTP-01 program; ongoing testing by PEC26-081; preparation of additional pads; the timing, scope and design of future drilling; the potential for the survey to refine drill targeting; and the potential for future drilling to identify extensions or additional mineralized zones. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Pecoy Copper to control or predict, that may cause Pecoy Copper's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's listing application available for review on the Company's profile at www.sedarplus.ca. Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Figures accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3d736456-2ca6-4e0a-9fdf-716cc63b006e

https://www.globenewswire.com/NewsRoom/AttachmentNg/fa240a3b-fb1e-4f1b-b376-224126a3d4be

FAQ

What are the main features of the MTP-01 target at Pecoy?

MTP-01 is described as a large Northwest low-resistivity target. On section 712900, the principal response is approximately 1,200 m wide and approximately 1,000 m in vertical extent within the 3D MT model, with medium-to-high IP chargeability and a coincident magnetic response. The company views it as the principal untested Northwest opportunity, and drilling is required to determine the geological source of the anomaly.

How is Pecoy Copper planning to advance drilling on the Northwest/MTP-01 area?

The company has allocated a fourth diamond drill rig specifically to the Northwest and MTP-01 program. At the time of the release, hole PEC26-081 is testing northward within the Northwest area and additional pads are being prepared for direct testing of MTP-01. The company expects to test MTP-01 systematically across multiple sections and elevations, including its margins, internal geometry and vertical extent, rather than relying on a single direct hole.

What work was included in the Spartan MT survey at Pecoy?

The Spartan MT survey was completed by Quantec Geoscience Perú S.A.C. between March and April 2026. Measurements were collected at 85 sites across an approximately 3.2 km by 3.4 km survey area at a nominal site spacing of about 300 m. A 3D inversion using all MT sites produced a high-resolution resistivity model with 50 m by 50 m horizontal cell size, which was integrated with drilling, geology, IP and magnetics to define targets MTP-01 to MTP-04.

How are the MTP-02 and MTP-03 targets used in Pecoy Copper's interpretation?

MTP-02 corresponds to the EDM mineralized trend and is supported by broad Cu-Mo mineralization in historical holes PEC-056, PEC-058 and PEC-062, which are used to calibrate the known Cu-Mo/EDM domain southeast of MTP-01. MTP-03 coincides with the South Breccia body and overlaps mineralized intervals in PEC25-065 and PEC25-066, providing a direct calibration of the MT model against the known Pecoy mineralized system. The company uses these contrasting domains to refine geophysical criteria and distinguish productive geological settings from resistivity anomalies alone.

What is the current mineral resource at the Pecoy project?

The Pecoy deposit hosts a current inferred mineral resource of 865 million tonnes at 0.34% Cu, with associated gold, molybdenum and silver credits. The company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.

What logistical and infrastructure advantages does the Pecoy project have?

The Pecoy project covers 9,975 hectares in Peru’s Arequipa region at an elevation of approximately 1,650 m above sea level, which provides year-round access and reduced operating complexity compared to many higher-altitude Andean deposits. It is strategically located near the Pacific coast with proximity to highways, power lines and water sources, and has good access to the deep-water ports of Matarani (about 240 km southwest) and Ilo.

Who is responsible for the technical disclosure in this announcement?

The scientific and technical information was reviewed and approved by Vincent Cardin-Tremblay, P.Geo., Chief Geological Officer of Pecoy Copper, who is identified as a Qualified Person under National Instrument 43-101. An NI 43-101 technical report for the Pecoy project with an effective date of April 30, 2025 and dated July 23, 2025 is available on SEDAR+ under the company’s profile.