Vortex Metals Announces the Initiation of Phase II Exploration and Airborne Geophysics at Its Illapel Copper-Silver Project in Chile

Rhea-AI Summary

Vortex Metals (OTCQB: VMSSF) has initiated Phase II exploration and an airborne geophysics program at the Illapel copper-silver project, Chile.

Phase II expands work across the 180 km2 concession, includes ~2,000 line-km of Magnetics, VLF-EM and Radiometrics, and follows Phase I holes that intersected sulphide mineralization and low-resistivity zones.

Positive

• Project coverage expanded to 180 km2
• Airborne survey of ~2,000 line-km planned
• Phase I drilling confirmed sulphide mineralization and low-resistivity conductors
• GEODATOS identified 6 additional conductive targets near DVM-08
• Adjacent to Rio 27 mine and El Espino IOCG-style deposit (comparable setting)

Negative

• Only three fully completed drill holes to date, limiting current resource evidence
• No mineral resource or reserve estimate has been reported yet
• Follow-up drilling contingent on geophysics and target definition before new holes

Vancouver, British Columbia--(Newsfile Corp. - March 3, 2026) - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) ("Vortex" or the "Company") is pleased to announce that it will begin Phase II of its exploration at the Illapel project, Chile. Phase II builds on the first phase of exploration drilling that successfully located low-resistivity sulphide mineralization extending northward from the Rio 27 copper-silver mine along the favourable structural corridor.

"The Phase I drill program confirmed our geological model. The Phase II program will expand on the past program by using the knowledge obtained on the structural controls and will be combined with the geophysical signatures obtained from the upcoming geophysics program. We will then design a drill program around the results. Having numerous copper surface expressions, multiple geophysical targets, indications of an IOCG target and gold-bearing vein systems, we believe Illapel has significant discovery potential," stated, Michael Williams, Co-founder and Interim chief Executive Officer.

Phase II represents a significant expansion of exploratory work, and will cover the entire 180 square km of the concession area, including multiple unexplored surface expressions of copper-silver mineralization. The airborne survey will fly approximately 2,000 line-km with Magnetics, VLF-EM and Radiometrics, and will provide direct information on favourable structures, and the possible associated mineralization, thus generating new drill targets. Discussions are underway to finalize the contract with a local geophysical contractor.

Project Overview

The Illapel Copper Gold project is located in the Commune of Illapel, Choapa Province of the Fourth Region of Chile and is 250 km north of Santiago. The nearest town is the mining centre of Illapel located 35 kilometres away. The project has excellent infrastructure connecting paved roads, electricity, and mild climate favourable to year-round exploration. Illapel is fully permitted for exploration, and drilling may commence following the identification of targets.

The region surrounding Illapel has seen extensive mining activity, both past and present. Of particular note, the El Espino copper-gold (IOCG) Project (Measured and Indicated geologic resource of 145MT at 0.55% Copper and 0.22 g/t Gold; engineering feasibility complete; awaiting environmental permits. Source: www.pucobre.cl) is located approximately 14km to the north and is presently planned for development by Pucobre. Several small gold and copper mines also operate in the immediate area.

Rio 27 Mine

The Illapel Project is adjacent to an existing mining operation owned by Ventana Group and known as the Rio 27 mine. The Rio 27 mine has been in production since 2010 with its near-site processing plant. Ventana has advised that to date, approximately 400,000 tonnes of mineralized material with an average grade of 1.39% copper has been processed at site. The LOI provides a right of first refusal (ROFR) on the Rio 27 Mine and processing facility.

Drilling Highlights- Phase I Drilling

Initial drilling at Illapel yielded encouraging results, providing strong geological evidence of a mineralized system that warrants further investigation. To date, only three fully completed holes (DVM-02, 03, and 08) have tested the north-northeast trend of high-grade, manto-style copper-silver mineralization extending from the historic Rio 27 Mine. All holes intersected hydrothermal alteration and sulphide mineralization—including disseminated pyrite, chalcopyrite, chalcocite, and bornite—indicating the presence of a potentially extensive mineralized structure.

Hole DVM-08, in particular, returned compelling results with high-grade mineralization in an intercept one metre wide, that may represent the margin of a larger manto-style lens. This interpretation is supported by a downhole geophysical survey, which revealed a broad zone of low resistivity—coincident with the sulphide-bearing interval—and consistent with off-hole extensions. Geophysics contractor GEODATOS has now identified six additional conductive targets near DVM-08, providing encouragement for follow-up drilling.

In addition to the manto-style copper system, the company also observed Iron Oxide Copper Gold (IOCG) mineralization in multiple holes, including DVM-08. This mineralization-characterized by iron oxides and disseminated sulphides-occurs within a sequence of volcanic and sedimentary rocks, similar to the setting of the El Espino deposit (150 Mt @ 0.55% Cu, 0.22 g/t Au), located just 13 km to the west-northwest.

Discussion of Phase II Exploration

Previous work at the Illapel project has confirmed the importance of generally N-S trending structures, and cross-cutting structures with ocoite dykes, in localizing copper-silver mineralization. Mineralization encountered in drill holes, and at Rio 27 mine, and forms large halos of sulphide-bearing rock. Based on the down-hole geophysical survey, these halos have been proven to form zones of low-resistivity mineralization that respond to EM.

With this improved knowledge of structural control and the geophysical response, exploration may now expand to cover the entire concession area where numerous localities of copper-silver mineralization have been identified along structures. It is anticipated that the airborne magnetic, VLF-EM and radiometric survey will identify additional targets for follow-up by IP geophysical survey and/or drilling.

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Qualified Person / Quality Assurance and Quality Control (QAQC)

Juan Carlos Fernández, P. Geo., is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this press release.

About Vortex Metals Inc.

Vortex Metals Inc. is a copper-gold focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to 80% interest in the brownfield Illapel Copper Project in Chile and through its Mexican subsidiary Empresa Minera Acagold, S.A. de C.V., it owns 100% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (VMS) properties, Riqueza Marina and Zaachila in Oaxaca, Mexico. The company emphasizes responsible exploration, community engagement, and environmental stewardship to meet the rising global demand for copper sustainably.

For further information regarding this press release contact:

Vikas Ranjan,
President and Director
Email: vranjan@vortexmetals.ca

Forward-Looking Statements

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including permitting approvals, any private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as several factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The Company cautions that mineralization on, or production from, neighboring properties is no guarantee of the existence of similar mineralization or a guarantee of future production from the Illapel Project.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286055

FAQ

What is Vortex Metals announcing for Illapel on March 3, 2026 (VMSSF)?

Vortex Metals announced the start of Phase II exploration and an airborne geophysics program at Illapel. According to the company, work expands across the full 180 km² concession and includes ~2,000 line-km of survey flights.

How will the airborne geophysics affect VMSSF exploration at Illapel?

The airborne survey will generate new drill targets using Magnetics, VLF-EM and Radiometrics. According to the company, ~2,000 line-km of data should highlight structures and conductive zones for follow-up IP surveys and drilling.

What did Phase I drilling at Illapel find for VMSSF investors?

Phase I intersected hydrothermal alteration and sulphide mineralization in multiple holes, including a 1m high-grade intercept. According to the company, downhole geophysics showed low-resistivity zones and off-hole conductive targets.

Does VMSSF have nearby mining infrastructure or comparable deposits?

Yes; Illapel is adjacent to the Rio 27 mine and near the El Espino IOCG-style project. According to the company, Rio 27 has processed ~400,000 t averaging 1.39% Cu, supporting local infrastructure and exploration access.

What are the next steps and timeline for VMSSF at Illapel?

Next steps are finalizing a geophysics contract, completing airborne surveys, then defining drill targets and designing a Phase II drill program. According to the company, drilling can commence after target identification and permitting.