Culpeo Minerals Limited announced that it has commenced the Phase 2 drilling program at its Lana Corina Copper Project in Chile ("Lana Corina" or the "Project"). The drill program is designed to extend mineralisation discovered in the Phase 1 drilling program and initial drill testing of high priority district targets. Near Surface Targets: Thirteen magnetic low targets have been identified regionally that are analogous to the area of known copper mineralisation at Lana Corina.

Copper mineralisation at Lana Corina is characterised by magnetite destructive alteration, principally muscovite-sericite-chlorite and pyrite, which accompanies the high-grade copper-molybdenum mineralization as intersected by the recently completed maiden drilling program. Mapping has confirmed a strong correlation between areas of low magnetic response and mapped structural zones and surface copper mineralisation at the targets identified in magnetics (T1-T13). The mineralisation appears to be more continuous along district scale lineaments highlighted by the ground-magnetic data, reflecting controlling fault structures, which extend for more than 1km.

Deeper Copper and Molybdenum Mineralisation: A significant zone of high-grade molybdenum and rhenium mineralisation was intersected during the Phase 1 drill program and is located below the Lana Corina intrusive /breccia complex, representing a magmatic cupola zone. The deeper molybdenum-rhenium mineralisation is interpreted to be part of a vertically continuous mineralised system varying in style as a result of temperature and pressure gradients. The footprint of the Lana Corina system is 500m by 400m, with Phase 1 drilling extending mineralisation from surface to over 400m deep, where it remains open.

Phase 2 Drilling Program: The Phase 2 drilling is planned to consist of approximately 9-10 holes totaling 5,000 meters of drilling which will systematically explore and define mineralisation at Lana Corina, with the aim of increasing size of the mineralised footprint of the already defined copper mineralisation. Drilling will focus on expanding the known high-grade mineralisation, testing the near surface breccia targets and initial drill testing of district targets. The results of this second phase, together with the first phase and historical exploration and drilling campaigns, will continue to build upon the understanding of the significant mineralised system at the Project.