Fitzroy Minerals Inc. (TSXV: FTZ, OTCQX: FTZFF) has released drilling results from the Tenorita zone at its Buen Retiro copper project in Chile, reporting wide intersections of leachable mineralization near surface. Leachable copper mineralization — typically oxides and secondary sulphides amenable to low-cost heap leach and solvent extraction-electrowinning (SX-EW) processing — is a key development consideration, as it can potentially reduce capital and operating requirements relative to conventional flotation circuits.

The company disclosed results from 15 diamond drill holes. The standout intersection came from hole BRT-DDH072, which returned 111.9 metres at 0.97% copper starting from 21.1 metres depth, including higher-grade intervals of up to 1.91% copper. Hole BRT-DDH070 returned 147.7 metres at 0.41% copper from 26.3 metres, including 47.0 metres at 0.88% copper.

According to the company, these results confirm consistent shallow mineralization across approximately 300 metres east-west in the south-central portion of the Tenorita area, as illustrated in cross-section A-A'. The best hole, DDH072, is located east of DDH070, further extending the zone's width.

The Tenorita zone is a 1.7 km trend situated southwest of the historical Manto Negro open pit and has been a primary focus of recent drilling activity. The presence of a historical open pit in the immediate vicinity indicates prior production in the area.

"Buen Retiro continues to deliver excellent results and several of the fifteen drill holes reported today reflect wide zones of mineralization in leachable material close to surface," said Merlin Marr-Johnson, President and CEO of Fitzroy Minerals. He emphasized that the team is on track to complete the Tenorita area drilling in August, consistent with the company's production timeline.

The ongoing drilling program utilizes four rigs at the site — three diamond drill rigs and one reverse circulation rig. Fitzroy aims to complete the Tenorita drill-out by August 2026 to support its stated target of commencing production in early 2028.

Since February 2026, the company has completed 78 diamond drill holes totaling 13,036 metres. The 2026 drilling program includes an additional 9,000 metres with three key objectives: advancing the Tenorita area to Measured, Indicated, and Inferred resource categories sufficient for a robust mine-life in a Pre-Feasibility Study; defining Inferred resources elsewhere on the property; and testing new exploration targets. The advancement to a Pre-Feasibility Study represents the next major technical milestone for the project.

Fitzroy also provided an update on its quality assurance and quality control procedures. The company inserts blanks, standards, and pulp duplicates into the sample stream, representing approximately 12% of total primary core samples. Certified copper standards from Chilean company INTEM are used, and a visual review of QA/QC results showed no significant issues. The qualified person, Dr. Scott Jobin-Bevans, has reviewed and approved the technical information.

The Buen Retiro project is located near Copiapo, Chile, in the Atacama Region — part of a country that is the world's largest copper producer — and forms part of Fitzroy Minerals' portfolio of copper-focused assets in the Americas.