Turmalina Metals Corp. announced that initial drilling at the Chanape project, located 87 km east of Lima, Peru, has intersected extensive gold-silver mineralisation in the first breccias to be drill tested by the Company. This release summarizes the first results of the program representing 1003.7 m from four holes of a planned 2,300 m drill program.

Selected intercepts from this first batch of results include: Breccia 8: 39.6m @ 3.79 g/t Au, 18 g/t Ag & 0.45% Cu (4.7 g/t EqAu); CHT-DDH-034 from 60m. Including 8.5m @ 9.2 g/t Au, 27 g/t Ag and 0.48% Cu (10 g/t EqAu) from 65.5m. Breccia San Antonio: 33m @ 1.55 g/t Au, 66 g/t Ag, 0.18% Cu & 1.7% Zn (2.6 g/t EqAu); CHT-DDH-037 from 31.4m.

Including 10.3m @ 4.2 g/t Au, 75 g/t Ag, 0.28 % Cu & 4.5% Zn (5.6 g/t EqAu) from 47.9m. The Chanape project is characterised by multiple tourmaline gold-silver-copper (Au-Ag-Cu) breccia pipes, with over fifty identified to date. Detailed sampling along with favourable rock chip and channel assays led to the prioritisation of Breccia 8, Breccias 10 & 11 and the San Antonio Breccia to be tested by the first holes of this drill program.

The Clint Breccia, which does not outcrop but has been intercepted by previous drill campaigns, will also be drill tested during this program. Drill hole CHT-DDH-034 tested the extent of shallow Au-Ag mineralisation at the approximately 80 m wide Breccia 8. Drill holes CHT-DDH-035 and CHT-DDH-036 tested the shallow long-section and cross-section respectively of the approximately 110 m by 50 m Breccias 10 & 11, while CHT-DDH-037 tested the shallow levels of the approximately 40 m wide San Antonio Breccia. The Au-Ag grades indicate strong potential for high-grade copper-gold-silver grade mineralisation at depth.

The Company currently has one drill conducting deeper drilling under the best intersections and testing of additional priority targets. Tourmaline breccias typically display strong vertical zonation, with Au-Ag in the narrow top (the ‘roof') of the breccia pipe underlain by deeper and broader high-grade Cu-Au-Ag mineralisation. This is seen in historic drilling at Chanape, where shallow Au-Ag bearing breccias such as Breccia 8 (i.e. 64 m @ 0.87 g/t Au & 25 g/t Ag from 0 m; CHDDH012) are found 200 m above deeper Cu-Au breccias such as Clint (i.e. 71 m @ 1.92 % Cu, 0.81 g/t Au & 41 g/t Ag from 232 m; CHDDH013).

The 677 ha Chanape copper-gold project is located approximately 87 km east of Lima and is accessed via 24 km of unpaved road from Turmalina's operational centre in the town of San Damian. The Project contains several strongly mineralised tourmaline breccia pipes that are clustered around a large, copper-molybdenum mineralised intrusion. Historical drill holes have confirmed mineralisation in breccia pipes and recent surface geological mapping have added new mineralised bodies for follow-up.

Turmalina's work to date has been focused on interpreting historic work while mapping and sampling over 50 documented tourmaline breccias and epithermal veins at the project and drill-testing the best targets. A phreato-magmatic breccia, measuring 700 m by 200 m has also been identified as a potential target for bulk tonnage mineralisation, hosting a gold anomaly that is coincident with a chargeability high (IP). Turmalina has an option to acquire 100% of the Chanape Project.

The 34,600 ha San Francisco project is located in San Juan, Argentina. The project area contains over 60 tourmaline breccias and numerous epithermal vein occurrences, several of which have supported small-scale mining. The Company is focused on mapping and sampling the breccias and veins in the project area, and drill testing the highest priority targets.