Culpeo Minerals Limited announced assay results from the first hole (CMLCD010) of the Phase 2 drilling program at its Lana Corina Project (the "Project") in Chile. Three holes of the Phase 2 drilling program at the Lana Corina Project have been completed, with the 4th hole currently being drilled. Assay results for the first hole of the drilling program (CMLCD010) have now been received with a significant high-grade intersection of 169m at 1.08% Cu and 225ppm Mo returned from 239m downhole.

Within this broad intersection grades of up to 3.56% Cu and 8,470ppm Mo were intercepted and several wide high-grade zones were returned including: 23m at 1.46% Cu and 62ppm Mo (from 284m); and 26m at 1.43% Cu and 47ppm Mo (from 336m). CMLCD010 was drilled east of the Corina breccia pipe and targeted an area that had not been previously tested. Historical drilling indicated that strong potential existed below and to the west of the Corina pipe, which have now been confirmed by the significant new assay results.

Results from CMLCD010 continue to demonstrate the presence of a significant body of outcropping copper and molybdenum mineralisation at Lana Corina. Culpeo is highly encouraged by the drilling results to date which continue to reaffirm and strengthen the near surface potential at the Project. The Phase 2 drilling currently consists of 9-10 holes totaling approximately 5,000 meters of drilling to systematically explore and define mineralisation at Lana Corina, aiming to increase the size of the copper and molybdenum mineralised footprint which is already defined over 400m by 200m to 400m deep.

It remains open in all directions. Results of drilling continue to strongly support the Company's exploration model of a substantial fertile magma chamber driving the near surface high-grade mineralisation. The results of the Phase 2 drilling program, together with the first phase, will continue to build upon the understanding of this newly discovered large scale high-grade system at Lana Corina.