Mr. Merlin Marr-Johnson reports

FITZROY MINERALS STARTS HELIBORNE MOBILE MT GEOPHYSICAL SURVEY AT CABALLOS COPPER PROJECT, CHILE

Expert Geophysics Surveys Inc. has started a planned 750-line-kilometre mobile magnetotelluric (MobileMT) heliborne survey at Fitzroy Minerals Inc.'s Caballos copper project, Valparaiso, Chile. This survey will cover the entirety of Fitzroy's Caballos copper project within two days and interpreted results are expected in March, 2026.

MobileMT is a leading geophysical technology, which aids in the identification of subsurface geologic structures, alteration halos and contrasting lithologies. Complementary VLF-EM data, which provides near-surface electromagnetic (EM) information, should yield increased resolution of shallow features. Combining the methods should identify deep-seated faults, lithological contacts and structures controlling mineral systems from surface to a depth of approximately one kilometre to two kilometres, dependent on the conductivity distribution of the local geology.

Merlin Marr-Johnson, president and chief executive officer of the company, commented: "We expect the MobileMT data will provide a three-dimensional image of the Caballos project area, including under the younger volcanic rocks to the east. We hope the survey will assist us in tracing the outline of the mineralized breccias already intersected through drilling. Further, we hope the survey helps us to vector towards the origin of the mineralized breccias that themselves contain clasts of mineralized porphyry rocks. MobileMT is known for identifying areas of electrically conductive sulphides potentially linked to mineralized porphyry intrusive centres and resistive bodies representative of intrusions."

About Fitzroy Minerals Inc.

Fitzroy Minerals is focused on exploring and developing copper-focused mineral assets with substantial upside potential in the Americas. The company's current property portfolio includes the Buen Retiro copper project located near Copiapo, Chile, the Caballos copper and Polimet gold-copper-silver projects located in Valparaiso, Chile, the Taquetren gold project located in Rio Negro, Argentina, and the Caribou project in British Columbia, Canada. Fitzroy Minerals' shares are listed on the TSX Venture Exchange under the symbol FTZ and on the OTCQB under the symbol FTZFF.

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