Mr. Tim Heenan reports

MIRASOL LAUNCHES EXPLORATION SEASON AT SOBEK COPPER-GOLD PROJECT IN THE VICUÑA DISTRICT, CHILE

The 2025/2026 exploration season is under way at Mirasol Resources Ltd.'s 100-per-cent-owned Sobek copper-gold-silver project in the Vicuna district of Chile. With permits and community agreements in place, a ground-based deep vectoring IP and MT geophysical survey is currently in progress to refine the final drill positioning at the 46 South target and improve the chances of intersecting mineralization. Based on the results of the geophysical survey, the first-pass drill hole will be designed to test the near-surface resistive and chargeable responses interpreted as an epithermal target, while also penetrating the deeper MT and magnetic responses interpreted as the possible roof zone of a porphyry system.

• Located just seven kilometres west of Filo del Sol in the Vicuna district, the 46 South target is at the south end of a three km north-south-trending corridor of mineralization at Sobek Central.
• The 46 South epithermal and underlying porphyry target sits on the margin of a district-scale magnetic high where coincident mag-susceptibility, MT anomalies and ground-based IP responses lie directly below a large soil survey geochemical anomaly where hydrothermal and tourmaline breccias outcrop on surface.
• In preparation for drilling a proven deep vectoring IP and MT geophysical survey has been deployed to refine target geometry and improve the probability of intersecting mineralization;

"The 46 South target clearly stands out as the most technically compelling target we have defined at our Sobek project. Integrating the results from the IP ground geophysics and soil sampling survey combined with the underlying airborne magnetic and MT anomalies, coupled with the hydrothermal and tourmaline breccias encountered on surface reinforce the potential for 46 South to represent a significant mineralized system at depth," Mirasol's president and chief executive officer, Tim Heenan, stated. "The drill program this season could represent a major catalyst for the company, and we will start drilling in early January once we have interpreted and evaluated the results of the geophysical survey. The deep vectoring IP and MT geophysical survey now under way will refine our targeting and significantly increases the probability of a meaningful drill intercept."

Advancing toward drilling the 46 South target

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 approximately seven km to the east.

Located at the south end of Sobek Central, 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. The grid-based soil survey outlined a coincident prominent, large and coherent copper-gold-moly geochemical anomaly on surface that directly overlays IP-PDP resistivity and chargeability responses from IP ground geophysics surveys completed late last season. Structurally controlled tourmaline breccias and hydrothermal breccias were also identified while prospecting and mapping in the target area (news release dated Sept. 16, 2025).

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 vectoring IP and MT geophysical survey has been deployed. 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 refine final drill targets. Comparable approaches at projects such as ATEXs 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. Drilling the 46 South target potentially represents a significant catalyst, and a thorough evaluation and comprehensive technical review of the geophysical results is required to ensure optimal targeting. The drilling equipment and crews have been secured, with drilling now scheduled to commence in early January which is expected to provide more efficient mobilization and improved cost management.

Regional airborne magnetics and airborne MT surveys

Mirasol completed a regional 2,700 line kilometres of airborne magnetics survey that delineated 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.

The 500 line kilometres of airborne MT 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. The alignment in elevation and style suggests that the MT anomaly at 46 South may represent the upper levels of a porphyry system.

Soil and rock geochemical results

Systematic soil survey 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. Structurally controlled tourmaline breccias were identified on surface directly above the potential porphyry target and subsequently late last season hydrothermal breccias were identified overlying the potential epithermal target while prospecting and mapping in the target area (news release dated Sept. 16, 2025).

Coincident underlying ground IP-PDP geophysical anomaly

An induced polarization (IP), pole-dipole (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.

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.

About Mirasol Resources Ltd

Mirasol is a well-financed exploration company with over 20 years of operating, permitting and community relations experience in the mineral-rich regions of Argentina and Chile. 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 continues to advance a strong pipeline of highly prospective early and mid-stage projects.

We seek Safe Harbor.