Fitzroy Minerals Inc. provided an update on the exploration activities within its portfolio of properties in Argentina and Chile. At the Caballos Copper Project in Chile, a field-camp is in place and a geological team are mapping and sampling along a 1,200 m prospective structure within the larger Pocuro Fault corridor. At the Polimet Gold-Copper-Silver Project in Chile, Fitzroy Minerals is undertaking check assays as part of a QA/QC process on a soil geochemistry survey that was previously completed by the Project vendor.

At the Taquetren Gold Project in Argentina, in-fill soil sampling at the Irma and Centro gold prospects is almost complete. In addition, geological reconnaissance mapping has discovered a continuation of the Irma gold-bearing vein system up to three kilometres away to the southwest. Assays from both the soil sampling and the reconnaissance mapping program are awaited.

Highlights: Mapping and sampling underway ahead of drilling at the Caballos Copper Project (Chile). QA/QC checks underway on an XRF-based soil geochemical survey at the Polimet Au-Cu-Ag Project (Chile) to validate a low-cost and time-efficient exploration tool. New discovery extends the Irma gold-bearing vein System to a strike length of four kilometres, at the Taquetren Gold Project (Argentina).

Mapping and sampling underway ahead the Caballos Copper Project ("Chile"). QA/QC checks ongoing on an XRF-based land geochemical survey at the Polime Au-Cu-Ag Project ("Chile") to validate a low-cost exploration tool. New discovery extends The Irma gold-bearing vein system to a strike length of four kilometers, at the Taquetren gold-Copper-Silver Project (Argentina).

A soil geochemistry survey was completed by the Project vendor at the Polimet Gold-Co Copper-Silver Project in the El Bronce epithermal district. In total, 134 soil samples were taken in three grid areas measuring 600 m long x 260 m wide, 300 m long x 200 m wide, and 200 m long x 300 m wide. The sampling was carried out over interpreted vein features mappable from float, outcrop, soil colour, and remote sensing lineation studies.

Pay-shoots in the epithermal mineralization of the El Bronce District are structurally controlled. The combined results of the structural mapping, the soil geochemistry, and the geophysics will guide the drilling program at Polimet later in the year. Taquetren Gold Project, Argentina.

In the news release dated September 19, 2023, it was noted that a potentially significant NE-SW mineralized system has been identified at Taquetren and that soil geochemistry was a good, low-cost exploration tool. Recent activity at the Taquetren Gold project has focused on two work streams: infill soil sampling within the area of known mineralization, and geological reconnaissance mapping looking to expand the known footprint of mineralization. The infill soil survey consisted of sampling on lines spaced 100 m apart and taking samples every 25 m over the main geochemical anomalies at the Centro and Irma prospects.

Scott Jobin-Bevans, Ph.D., P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this news release.