Tribeca Resources Maiden Drill Program Intersects Porphyry-style Mineralization with Encouraging Gold Values at the Chiricuto Property in the Atacama Region of Chile

(TheNewswire)

7 MAY, 2025 | VANCOUVER, BC – TheNewswire- Tribeca ResourcesCorporation (TSXV: TRBC) (OTCQB: TRRCF)(“ TribecaResources ”, the “ Company ”) ispleased to report the completion of a maiden drill program at theCompany’s previously undrilled Chiricuto Property (“Chiricuto”)in the Atacama region of northern Chile. Since acquiring an option topurchase a 100% interest in the property in March 2024, Tribecasystematically completed geological mapping, IP-MT geophysicalsurveying and soil sampling ahead of the now completed drillprogram.

Highlights:

• 5 holes drilled: two targets tested with acombined 1,586m of diamond drilling. Assay data received for the firstthree holes (CHR001-CHR003)

• Copper-goldporphyry-style mineralization intersected at IP-MT target: Hole CHR001, drilled into thenorthern strong coincident IP chargeability - MT anomaly, intersected a strongsulphide system over most ofthe hole length (456m) associated with porphyry-style veins andbreccias. The pyrite-chalcopyrite sulphide assemblage in the hole isdominated by pyrite, and hosts significant gold values , with the best of several 10-16m thickmineralised zones recording 10m @ 0.12% Cu, 0.47 g/t Au.

• Magnetic targettested: The two drill holes(CHR002, CHR003) tested the magnetic target and intersected an IOCG-stylemagnetite alteration systemhosted by breccias and veins. Chalcopyrite is locally present in thedrill holes with a maximum individual assay of 0.16% Cu. One zone ofsemi-massive iron mineralization yielded 18m @ 26.1% Fe (from 102m inCHR003).

The results from the drilling expand our understandingof the copper mineralization in the area. The intersection ofcopper-gold porphyry-style mineralization was unexpected and providesa new target style that has not previously been the focus ofexploration in the area. Next steps will be determined once all drillresults are received and integrated and the data from the property canbe reviewed in the context of this new geological model.

Tribeca Resources CEO, Dr. Paul Gowcommented:

“Drilling at Chiricuto hasintersected a strong sulphide system associated with breccias andporphyry-style veins. Sulphide is present nearly all the way down the456m of hole CHR001, and pleasingly with locally high gold values. Wenow await the assays from the final two holes of the program, whichtested southern extensions of the IP/MT target into which hole CHR001was drilled, to further refine our understanding of the property'smineralization potential."

Chiricuto Property drillingprogram

The Chiricuto Property is a 570 hectare propertylocated in the established Mantoverde district of the Chilean CoastalBelt, 15 km and 21 km from Capstone Copper Corporation’s Mantoverdemine and Santo Domingo development project, respectively. These twodeposits combined host over 1.5Bt of copper-gold mineral resources(Figure 1). The Mantoverde mine produced 35,000 tonnes of coppercathode per in 2024, with a recently completed expansion to processsulphide ores set to increase total production in 2025 to between97,000 tonnes and 112,000 tonnes of copper.

Tribeca completed a drilling program at Chiricuto thattested two key geophysical targets for copper-gold mineralization. Theprogram comprised five drill holes for 1,586m, with hole depthsranging from 250m to 456m.

IP/MT Target : The first target ischaracterized by a significant 1.2km-long gradient array InducedPolarization (IP) chargeability anomaly in the northwest of theproperty (Figure 2). The northern end of the target has amagneto-telluric (MT) low-resistivity anomaly (<200 ohm-m) presentfrom close-to-surface to +500m depth. This zone is coincident withstrong gold anomalism in soil (to 0.127 g/t Au) and mappedchlorite-epidote and chlorite-silica alteration at surface.

The target was tested by three 400m-spaced drillholes(CHR001 – 456m, CHR004 – 323m, CHR005 – 250m).  Assay resultshave been received from CHR001, with the best copper intervalsprovided in Table 1 . CHR001 intersectedsignificant porphyry-style veins and lesser stockwork associated withhydrothermal breccias within an andesite hostrock intruded by diorite, monzonite and andesitic dikes (Figure 3a).The vein mineralogy is dominated by quartz or quartz-pyrite, locallywith K-feldspar haloes. Actinolite-chlorite-silica alteration isstrongly developed, and tourmaline is variably present in thehydrothermal breccias. Chalcopyrite is locally present bothdisseminated and in veins, commonly with carbonate (Figure 3c). Thesulphide system is strong, with sulphide visible throughout much ofthe 456m in CHR001. Assay results indicate an average sulphide contentof approximately 3.8% consistently distributed throughout the entirehole, albeit strongly pyrite-dominated. This strong sulphide systemencountered in CHR001 is consistent with the MT low resistivityanomaly present in the 3D inversion in this area. Copper is present inmuch of the hole at levels of ~600ppm, with three zones of >0.1% Cu( Table1 ). Molybdenum and cobalt are variablyanomalous and not strongly correlated with copper or gold, but arelocally anomalous with maximum individual 2m assay results of 96ppm Mo(from 8m) and 252ppm Co (from 44m), indicating potential for amulti-element mineralization system. Strong iron oxide alteration isnot common in CHR001, with only local bands or veins of magnetite orspecularite, commonly with pyrite (Figure 3b).

Table 1. Summary of significant copper mineralized intersectionsin drill hole CHR001

Note: Intervals compiled at an approximate 0.1% Cucut-off. Copper equivalent (“CuEq”) values are calculated usingmetals reported in situ (100% basis) and only including copper andgold values. Assumptions include metals prices of US$4.00/lb forcopper and US$2000/oz for gold. No metallurgical data is available sothere are no discounts for recovery. The formula used is as follows:CuEq% = Cu% + 0.72 x Au g/t

Magnetic Target : The secondtarget comprises a large (800m by 400m) and intense (3500nT) groundmagnetic anomaly interpreted as sourced by a magnetite alterationsystem (Figure 2). Two holes (CHR002 and CHR003) were drilled todepths of 260m and 296m, respectively, to test this system. Both holesintersected significant magnetite-actinolite-albite alteration . Coppersulphide (chalcopyrite) is present at trace levels in CHR002 andCHR003, most commonly within, and as haloes to, carbonate veins.Specularite is also locally present in these veins. The highestindividual copper assay was 0.16% Cu in a 2-metre sample from 272m inCHR003, with the maximum iron assay for an individual 2-metre samplebeing 38.3% Fe within an interval of 18m @ 26.1% Fe from 102m inCHR003 (Figure 3d), demonstrating notable iron mineralization.

The collar information for all five holes is providedin Table 2.

Plans for 2025

Tribeca is actively finalizing plans for a Phase 3drill program at its cornerstone La Higuera IOCG Project,demonstrating its commitment to advancing its key assets. Concurrently, the company is aggressively pursuing businessdevelopment initiatives, both near its existing two projects and inChile more broadly. The company is currently evaluating all availabledata from the Chiricuto program to determine the best path forward forthe property, including potential partnerships and alternativeexploration strategies. This comprehensive approach is intended toensure that Tribeca maximizes the value of its assets whilemaintaining a disciplined and strategic focus.

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Figure 1. Location of the Chiricuto Property. MineralResource details for surrounding deposits are shown and sourced asfollows: Mantoverde and Santo Domingo - Capstone Copper EstimatedMineral Resources statement dated 31 December 2022 (Measured andIndicated); Sierra Norte – Capstone Copper news release dated 31July 2024 (Historical Resource - Measured, Indicated and Inferred);Inca de Oro – PanAust Analyst site visit presentation dated 8-10June 2011 (Measured, Indicated and Inferred).

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Figure 2. Location of the drill holes reported here inrelation to the geological mapping and geophysical data.

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Figure 3. Selected core samples from the first threeholes at the Chiricuto property. a) Strong veining and stockwork ofquartz-pyrite, amphibole-pyrite-tourmaline in monzonite with intenseK-feldspar alteration (CHR001 346m), b) Thin 20cm breccia band ofIOCG-style alteration comprising amphibole-magnetite-pyrite withinandesite. Fine-grained pyrite-chalcopyrite is present in the main veinwith coarser euhedral pyrite in the wall rock.  (CHR001 433.5m), c)Coarse-grained quartz-carbonate-chalcopyrite vein (CHR001 444m), d)Semi-massive to massive magnetite replacement of andesite, withassociated amphibole alteration and significant coarse-grainedeuhedral pyrite in a partially brecciated host rock (CHR003119.5m).

Table 2. Details of the drill collars from theChiricuto drill program. Collar coordinates provided usingdatum/projection WGS84 Zone 19S.

Notes on sampling and assaying

Analytical samples were produced using ½ HQ core andsent to the Activation Geological Services (AGS) Lab in La Serena,Chile. Preparation included crushing the core samples to 70% <2.5mm and pulverizing 500g of crushed material to better than 95% <105 microns. All samples are assayed using 30g nominal weight fireassay with AAS finish (Au-FA30) and a multi-element four acid digestICP-OES method (OES-TD36). The QA/QC procedure for this drillingprogram utilizes field duplicates, standards and blanks that compriseapproximately 10% of the total samples submitted.

Qualified Person

All scientific and technical information in this pressrelease has been prepared by, or approved by, Dr. Paul Gow, who is theCEO of Tribeca Resources. He is a Member of the Australian Instituteof Geoscientists (MAIG), a Member of the Australasian Institute ofMining and Metallurgy (MAusIMM) and a qualified person for thepurposes of NI 43-101. Dr. Gow has not verified any of the informationregarding any of the properties or projects referred to herein otherthan the La Higuera Property and the Chiricuto Property.Mineralization on any other properties referred to herein is notnecessarily indicative of mineralization on the La Higuera Project andthe Chiricuto Property.

About Tribeca Resources

Tribeca Resources is acopper exploration company focused on discovering and developingassets in the Coastal IOCG Belt of northern Chile. The Company’smanagement team, whose members are significant shareholders of theCompany, has world-leading expertise and a discovery history with ironoxide copper-gold deposits in the world’s great IOCG Belts of theCaraj ás district inBrazil and the Gawler and Cloncurry provinces of Australia.

Tribeca Resources’ objective is to provide themineral resources for the next generation of copper mines in Chile. Itis focused on building a portfolio of projects, with emphasis on midto advanced-stage copper exploration and resource developmentprojects. To this end, mineral targets are regularly assessed inpursuit of acquisition, strategic exploration and significantdiscovery.

Tribeca Resources’ flagship property is the LaHiguera Project that comprises 4,147 hectares of granted mining andexploration licences and is located towards the southern end of theChilean Coastal IOCG Belt in the Coquimbo Region of northern Chile.Further information about the project can be found in the NI 43-101Technical Report lodged by Tribeca Resources on SEDAR on 24 October2022.

On behalf of Tribeca ResourcesCorporation

Cautionary Note

Neither the TSX Venture Exchange Inc. nor itsRegulation Service Provider (as that term is defined in the policiesof the TSX Venture Exchange Inc.) accepts responsibility for theadequacy or accuracy of this press release.

This press release does not constitute or form a partof any offer or solicitation to purchase or subscribe for securitiesin the United States. The securities referred to herein have not beenand will not be registered under the Securities Act of 1933, asamended (the “Securities Act”), or with any securities regulatoryauthority of any state or other jurisdiction in the United States, andmay not be offered or sold, directly or indirectly, within the UnitedStates or to, or for the account or benefit of, U.S. persons, as suchterm is defined in Regulation S under the Securities Act(“Regulation S”), except pursuant to an exemption from or in atransaction not subject to the registration requirements of theSecurities Act.

Forward Looking Information

This press release contains forward-looking statementsand information that are based on the beliefs of management andreflect the Company's current expectations. When used in this pressrelease, the words "estimate", "project","belief", "anticipate", "intend","expect", "plan", "predict","may" or "should" and the negative of these wordsor such variations thereon or comparable terminology are intended toidentify forward-looking statements and information. Theforward-looking statements and information in this press releaseinclude statements regarding therelationship between geophysical and geochemical survey results andpotential mineralization, the relationship between a pyrite-dominantmineralized system and potential associated copper-goldmineralization, and the operations of the Company.

Such statements and information reflect the currentview of the Company. By their nature, forward-looking statementsinvolve known and unknown risks, uncertainties and other factors,which may cause our actual results, performance or achievements, orother future events, to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking statements. Such factors include, among others, theability of the Company to pay the purchase price as well as any otherpayments required by the Chiricuto Option Agreement, risks associatedwith mineral exploration, including the risk that actual results ofexploration will be different from those expected by management,  andthe risk that new laws or regulations could adversely affect thebusiness and results of operations of the Company and anticipated workon the Company’s projects.

There are several important factors that could causethe Company’s actual results to differ materially from thoseindicated or implied by forward-looking statements and information.Such factors include, among others: reliance on key management;changes in the credit or security markets; results of operationactivities; unanticipated costs and expenses; fluctuations incommodity prices; and general market and industry conditions. The Company cautions that the foregoinglist of material factors is not exhaustive. When relying on theCompany's forward-looking statements and information to makedecisions, investors and others should carefully consider theforegoing factors and other uncertainties and potential events.

The Company has assumed that the material factorsreferred to in the previous paragraph will not cause suchforward-looking statements and information to differ materially fromactual results or events. The forward-looking information contained inthis press release represents the expectations of the Company as ofthe date of this press release and, accordingly, is subject to changeafter such date. Readers should not place undue importance on forwardlooking information and should not rely upon this information as ofany other date. While the Company may elect to, it does not undertaketo update this information at any particular time except as requiredin accordance with applicable laws.

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