Mr. Tim Heenan reports

MIRASOL ADVANCES EXPLORATION PROGRAM AT SOBEK COPPER-GOLD PROJECT IN CHILE IN PREPARATION FOR DRILLING

Exploration has resumed at Mirasol Resources Ltd.'s 100-per-cent-owned Sobek copper-gold project in the Vicuna copper-gold-silver district of Chile. The field program is currently under way in preparation for the continuation of the maiden drill program that was suspended late last season due to the onset of winter weather (news release dated Aug. 21, 2023). Drilling is scheduled to start at Sobek Central early in Q1 2024, following which the drill is expected to be mobilized to Sobek North.

Sobek was staked by Mirasol in 2016 based on prospective local geology and attractive structural architecture prior to the 2021 discovery of the high-grade feeder zone at the Filo del Sol gold-copper deposit. The project is located on the same trend and just seven kilometres to the east of the Filo del Sol deposit and only three km to the southeast of NGEx Mineral's discovery at Lunahuasi (formerly Potro Cliffs).

"The Sobek project is located in the middle of the high-profile Vicuna copper-gold district in northeast Chile, positioning Mirasol adjacent to the north-south trend which hosts Filo del Sol and NGEx's Lunahuasi discovery," Mirasol's president, Tim Heenan, stated. "We are excited about the high-quality drill targets at Sobek and look forward to resuming the drill program in early 2024."

Sobek Central -- continuing the maiden drill campaign

Exploration at Sobek is currently well under way with all permits and community access agreements in place. The completion of the new access road has substantially improved exploration crews' access into the area to continue field evaluation at a much more detailed scale. Exploration activities currently under way include detailed geological and structural mapping, sampling, and alteration analysis along the new road cut where the prospective targets concealed by a thin layer of transported scree cover have been exposed. Electrical induced polarization geophysical surveys to help detect alteration and/or mineralization within the rock units in the subsurface environment are scheduled to start shortly at both the Sobek Central VN-zone and the El Potro prospect at Sobek North.

The 500 line km airborne mobile magnetotelluric geophysical survey outlined a striking cluster of large oval-shaped anomalies, which are interpreted to represent deeply seated intrusive centres. The airborne mobile MT has high-definition depth penetration to greater than 800 metres depth below surface and has been proven effective in defining targets in high-sulphidation epithermal (HSE) and porphyry systems elsewhere in Chile. Both the VN-zone and VN-zone North targets at Sobek Central lie on the peripheral rims of these oval-shaped MT responses.

The priority target at the Sobek Central VN-zone is scheduled to be drill tested early in Q1 2024, following which the drill is expected to be moved to Sobek North to test the EL Potro zone target. A combined 3,000 metres of drilling is planned.

Priority drill target -- Sobek Central -- VN-zone

The VN-zone was elevated as a high-priority target late last season when high gold grades were recovered from prospecting, with results up to five grams per tonne gold and 2,200 parts per million copper sourced from select grab samples (news release dated June 27, 2023). The VN-zone sits on the northern outer cusp of a very large oval-shaped mobile MT anomaly, with dimensions of 1.5 km by two km which is interpreted to represent a prospective deeply seated intrusive centre. With the access road now complete into the VN-zone, detailed geological and structural mapping and geochemical sampling are under way in preparation for this season's drill campaign.

A new occurrence of mineralized M veins (VN-zone North) was exposed along the road cut en route to the VN-zone. The VN-zone North is located approximately 1.4 km north-northeast of the VN-zone and sits on the eastern edge of the northernmost mobile MT anomaly. Samples collected from the road-cut exposure returned values of 1.37 g/t gold and 663 ppm copper, and 0.54 g/t gold and 411 ppm copper (news release dated June 27, 2023). These strong gold results are all sourced from sheeted Maricunga-type quartz-magnetite veinlets with argillized margins. The M veinlets contain anomalous values of associated copper mineralization (2,220 ppm), which is typical in Chilean gold-copper Maricunga-type porphyry deposits.

Priority drill target -- Sobek North -- El Potro zone

Sobek North surface exploration is also currently under way over priority targets at the El Potro zone in the southeast corner of the Sobek North claim block, which is located approximately three km southwest of NGEx's new Lunahuasi discovery. Exploration includes electrical surface-based IP geophysics over the recently discovered El Potro East zone which has returned very encouraging geochemical results from rock chip samples, including up to 4.3 g/t gold and 26 g/t silver from HSE-type veinlets and silicified breccia structures, located at a topographically higher elevation (over 400 m) above the more copper/molybdenum porphyry style of mineralization which returned 0.65 per cent copper and 105 ppm molybdenum (news release dated June 27, 2023).

High-profile Vicuna copper-gold-silver district

Sobek is located within a prospective geological environment with a compelling north-northeast-trending mineralized structural corridor crosscut by a north-northwest-trending deep-seated trans-cordilleran lineament. This is a common structural configuration hosting several southern Andes metal deposits in both Chile and Argentina.

The project comprises a large block totalling 11,120 hectares of exploration claims in three strategic locations, the North, Central and South blocks within the Vicuna copper-gold-silver district. The high-profile district includes multiple deposits in close proximity of Sobek, including the Filo del Sol mid-Miocene epithermal porphyry gold-copper deposit seven km to the east; the recent NGEx discovery at Lunahuasi (formerly Potro Cliffs) three kilometres to the east, the Josemaria copper-gold project 10 km to the east-northeast; the Los Helados porphyry copper-gold breccia system 20 km to the northeast; and the giant Eocene El Morro Porphyry copper-gold deposit 16 km to the west-southwest.

About Mirasol Resources Ltd.

Mirasol is a well-financed exploration company with 19 years of operating, permitting and community relations experience in the mineral-rich regions of Chile and Argentina. Mirasol controls 100 per cent of the high-grade Virginia silver deposit in Argentina and is currently self-financing exploration at two flagship projects, Sobek and Inca Gold, both located in Chile. Mirasol also continues to advance a strong pipeline of highly prospective early- and mid-stage projects.

We seek Safe Harbor.