Mr. Tim Heenan reports

MIRASOL ADVANCES LARGE UNTESTED TARGET TOWARDS DRILLING AT THE FLAGSHIP SOBEK COPPER-GOLD PROJECT IN THE VICUÑA DISTRICT, CHILE

The geochemical soil survey and IP ground geophysics reinforce 46 South as a high-priority drill target on the central block of Mirasol Resources Ltd.'s 100-per-cent-owned Sobek copper-gold-silver project in the Vicuna district of Chile. The grid-based soil survey outlined a prominent, large and coherent copper-gold-moly geochemical anomaly that coincidently overlays IP-PDP resistivity and chargeability responses from IP ground geophysics surveys completed late last season. Structurally controlled tourmaline breccias and hydrothermal breccias with porphyry-derived clasts were identified while prospecting and mapping in the target area. The 46 South target resides on the southern margin of a district-scale magnetic high where both the airborne MT and magnetics surveys outlined distinct cylindrical anomalies. To refine the maiden drill program at 46 South an innovative and proven geophysical system will be deployed to further delineate the geometry of both the shallow IP/res domains and the deeper MT anomalies ahead of drilling.

• Geochemical soil survey defined a large (approximately 1.0 by 0.7 kilometre), prominent and coherent copper-gold-moly anomaly where structurally controlled hydrothermal and tourmaline breccias breach the surface;
• The 46 South target lies on the southern margin of a district scale (approximately six by six km) circular magnetic high;
• Ground-based IP responses and coincident cylindrical shaped magnetic susceptibility and MT anomalies directly underlie the soil anomaly and breccias on surface;
• Ahead of the drill program we anticipate launching in early November, a deep vector IP and MT survey will be deployed to refine geometry and enhance vectoring of the targets;
• The 46 South target is located just seven km west of Filo del Sol at the southern end of a parallel three km corridor of mineralization;
• Webcast video presentation highlighting the potential of the 46 South target is available on the company's website.

The Sobek project is located in Chile within the Vicuna district which hosts both the Filo del Sol deposit and the Lunahuasi discovery across the border in Argentina. The 46 South target lies at the southern end of a three-kilometre north-south-trending corridor hosting alteration and mineralization that runs parallel to Filo del Sol which is only about seven km to the east.

"Our Sobek central property in the Vicuna district hosts a three km N-S-trending corridor of targets that have become more attractive as we progressed further to the south. At the southern end of the corridor, where we now have road access, the 46 South target represents the most compelling untested target that we have encountered to date at our Sobek project," Mirasol's president and chief executive officer, Tim Heenan, stated. "The recent results from the IP ground geophysics and soil sampling survey combined with the coincident airborne magnetic and MT anomalies along with the hydrothermal and tourmaline breccias encountered on surface reinforce 46 South as a high-quality priority target. The deployment of the proven deep vector IP and MT geophysical survey at the outset of the exploration season will refine our targeting and improve the probability of a successful drill program which we anticipate launching in November of this year."

Regional airborne magnetics and airborne MT surveys

Mirasol has completed 2,700 line kilometres of airborne magnetics and over 500 line kilometres of airborne MT across Sobek, which has provided a robust data set when integrated with surface geological mapping and rock chip and soil grid geochemical sampling. These airborne geophysical surveys outlined a district-scale magnetic high and revealed an MT anomaly at depth at 46 South. These data sets have been critical in vectoring exploration toward 46 South, confirming that the target is not an isolated feature but part of a preserved, district-scale magmatic-hydrothermal system.

The regional airborne magnetic data delineates a broad circular approximately six by six km magnetic high, interpreted as an underlying intrusive centre. The 46 South target is positioned on the southern margin of this intrusive complex, where the magnetic gradient coincides with mapped hydrothermal breccias and alteration. At surface, both tourmaline-bearing breccias and typical high sulphidation (HSE) type breccias containing porphyry fragments showing pervasive sericite alteration with a quartz-alunite overprint have been identified. These breccia exposures, located precisely on the southern edge of the highly magnetic body, highlight the structural and geological significance of this margin for focusing hydrothermal activity.

The airborne MT data defined an underlying sharp resistivity contrast coincident with a strong cylindrical magnetic susceptibility anomaly directly below 46 South, starting at an elevation of approximately 4,600 to 4,500 masl (metres above sea level) and extending to depth. This anomaly aligns with the strongest part of the soil geochemical footprint. Comparable MT conductors in the Vicuna district have been reported at NGEX's Lunahuasi discovery, where porphyry-related mineralization begins at approximately 4,600 masl and strengthens between approximately 3,800 to 3,900 masl and also at Mogotes Filo Sur project (at approximately 4,500 masl, interpreted as a porphyry target). The alignment in elevation and style suggests that the MT anomaly at 46 South may represent the upper levels of a porphyry system.

Structural interpretation

Mapping shows north-south and northeast-trending structures are crosscut by northwest-trending faults, with these intersections localizing breccias and alteration. The strongest soil anomalies coincide spatially with these intersections, reinforcing the interpretation that structural controls are critical in the localization of mineralization at 46 South.

Soil and rock geochemical results

Systematic soil sampling has defined a strong, widespread and very coherent copper-gold-molybdenum footprint with dimensions of approximately 1.0 by 0.7 km. This is clearly the largest and strongest geochemical anomaly yet identified on the Sobek property. Maximum values in soils reach 275 ppm (parts per million) copper, 37 ppm molybdenum and 88 ppb (parts per billion) gold. Although outcrop is scarce within the colluvial cover, select rock chip samples returned values up to approximately 1.0 g/t gold, 420 ppm copper and 508 ppm molybdenum from sheeted quartz plus or minus sulfide veinlets, local stockworks and breccias, confirming the presence of mineralization where structures and alteration coincide.

Coincident underlying ground IP-PDP geophysical anomaly

An induced polarization (IP), pole-di-pole (PDP) geophysical survey defined a robust anomaly underlying and coincident with the soil grid anomaly. Chargeability increases markedly from approximately 150 metres down to greater than 600 m, while resistivity values highlight a well-defined core exceeding 5,000 ohm-m. These coincident anomalies reinforce the interpretation of a vertically extensive mineralized system.

New proven geophysical survey to refine drill targets

To further resolve the geometry of these shallow IP/res domains and the deeper MT responses, an innovative and proven deep vector IP and MT geophysical survey will be deployed at the outset of the exploration season. This survey is designed to refine the characterization of the existing resistive/chargeable domains at shallow levels and the deeper MT response, providing the vectoring required to define final drill targets. Comparable approaches at projects such as APEXs Valeriano, directly south of Sobek in Chile, and Aldebaran's Altar in Argentina have demonstrated the effectiveness of this technology in telescoped porphyry-epithermal systems.

Advancing toward drilling

The integration of airborne magnetics and MT, ground IP resistivity and chargeability, structural mapping, and geochemistry establishes 46 South as a very compelling undrilled target within the Vicuna district. A first-pass drill hole is being designed to test the overlapping soil anomaly with the underlying resistive and chargeable bodies while also penetrating the deeper MT response interpreted as the possible roof zone of a porphyry system. Drill positioning is planned to be slightly offset from the chargeability center to maximize the chances of intersecting mineralization in both the near surface and deeper targets. The company expects to complete the deep vector IP and MT geophysical survey by mid-October and anticipate launching the 2025 drill program in early November.

High-profile Vicuna

Copper-gold-silver district

Mirasol staked the Sobek project 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 and the 2023 discovery of Lunahuasi. The consolidated Sobek project is located on the same regional north-south-trending structural corridor and just seven km to the west of the Filo del Sol deposit and three km to the southwest of NGEx Mineral's discovery at Lunahuasi.

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 numerous Andean metal deposits in both Chile and Argentina.

Webcast video presentation highlighting the 46 South target

About Mirasol Resources Ltd.

Mirasol is a well-financed exploration company with more than 20 years of operating, permitting and community relations experience in the mineral-rich regions of Chile and Argentina. Mirasol is currently self-funding exploration at the flagship Sobek copper-gold project located in the Vicuna copper-gold-silver district of northeast Chile and controls 100 per cent of the high-grade Virginia silver deposit in the province of Santa Cruz, Argentina. Mirasol also continues to advance a strong pipeline of highly prospective early and mid-stage projects.

Qualified person statement: Mirasol's disclosure of technical and scientific information in this press release has been reviewed and approved by Tim Heenan (MAIG), the president for the company, who serves as a qualified person under the definition of National Instrument 43-101.

QA/QC (quality assurance/quality control): Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock chip, soil and stream sediment samples are collected under the supervision of the company's geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program with insertions of controls (standards, blanks and duplicates) submitted to the laboratory. Samples were dispatched to ALS Global -- geochemistry analytical lab, in Santiago, Chile, an ISO 9001:2015 accredited laboratory, which is independent from the company. Rock chip samples (one to three kilograms) were prepared with PREP31, and analyzed by Au_ICP21 and ME-MS61. The soil samples were prepared with PUL-31, analyzed by Au_ICP21 and ME-MS61. Assay results from rock chip, soil stream sediment, channel, trench and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

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