Mr. Tim Heenan reports

MIRASOL PROVIDES EXPLORATION UPDATE ON SOBEK COPPER-GOLD PROJECT IN THE VICUNA DISTRICT, CHILE

Mirasol Resources Ltd. has provided an update on the exploration and drilling at the company's 100-per-cent-owned Sobek copper-gold-silver project, located seven kilometres west of Filo Del Sol in the Vicuna district of Chile.

Exploration this season was primarily focused on the Sobek Central corridor of copper-gold and copper-rich targets, which hosts the VN-Zone, 46 South and Green Wall prospects. Mirasol has been advancing the interpretation and understanding of the prospective targets through the integration of geophysical data, drill results, geological mapping, surface geochemistry and petrographic observations. The VN-Zone is a gold-copper target with banded quartz vein textures and previously reported high-grade rock-chip surface samples. The induced polarization, pole-dipole (IP-PDP) geophysical survey completed over the VN-Zone outlined a strong, structurally controlled, resistivity contrast that increases with depth. Drill results from the 46 South target included anomalous gold-bearing intervals, which indicate the hydrothermal system continues toward the south. The Green Wall domain is a distinct copper-rich mineralized trend, with narrow, submetre structures, potentially representing leakage from a more significant copper source within the subsurface.

In preparation for potential drilling at the VN-Zone, follow-up exploration will focus on evaluating how the gold-copper surface mineralization, along with the attractive banded quartz veining styles, is related to the geophysical IP-PDP resistivity anomalies below surface and the apparent structural controls. At the Green Wall domain, exploration will focus on defining the copper-mineralized trend and how that relates to the central-northwest and southeast domains and the structural and lithological controls on mineralization.

"We continue to prioritize drill targets while advancing the Sobek geological model by integrating data acquired from our exploration programs and leveraging insights gained from neighbouring discoveries across the Vicuna district," stated Tim Heenan, Mirasol's president. "Sobek remains a highly prospective project, with numerous targets yet to be tested in the Vicuna district, a leading jurisdiction for copper-gold discoveries."

VN-Zone target refinement

The VN-Zone is located in the middle of the Sobek Central corridor, where previous surface samples outlined a cluster of gold-copper rock-chip results, including previously reported values from select rock-chip grab and float samples of 5.03 grams per tonne gold with 2,200 parts per million copper, 4.50 grams per tonne gold and 2.82 grams per tonne gold with 1,300 parts per million copper (see news release dated June 27, 2023).

These results have been placed into a new geological and geophysical framework to refine the interpretation of the target and better define the relationship between surface mineralization, structural trends and subsurface geophysical features.

The previously reported IP-PDP geophysical survey highlights that the high gold-copper surface anomalies lie above a resistivity contrast and are interpreted to be associated with northwest to north-northwest structures. The IP-PDP section line (L50000N) is dominated by a highly resistive domain, with a more conductive response developed along its margin with a moderate chargeability at depth, which may reflect sulphide-bearing zones developed within or adjacent to the same structural corridor.

This relationship provides additional context for the structural setting of the VN-Zone and supports the interpretation that surface mineralization is controlled by discrete structures and lithological contacts within the broader Sobek Central corridor.

Geological mapping at VN-Zone indicates that mineralization is associated with a structurally controlled corridor developed within dacitic volcanics and possible hypabyssal rocks. The zone includes several quartz vein textures and styles, including banded black quartz veins, D-type quartz-pyrite veins and magnetite plus or minus quartz veins.

46 South target drilling update

Two diamond drill holes were completed this season to test the 46 South target located on the south end of the Sobek Central corridor. Drill hole S46-DDH-002 was drilled approximately 300 metres south of S46-DDH-001 (see news release dated April 23, 2026) to test a shallower southern position beneath the surface exposures of the quartz-alunite breccia trend.

Results from S46-DDH-002 confirm the continuation of the hydrothermal system toward the southern part of the 46 South target. The drill hole intersected structurally controlled, oxidized and argillic-altered dacitic rocks with local hydrothermal breccias, crackle textures, silicification, iron-oxide/jarosite-rich oxidation, and several tectonic/fault breccia intervals. The upper part of the hole is dominated by altered dacitic volcanic rocks, local hydrothermal breccias with crackle textures, silicification, argillic alteration and iron-oxide/jarosite-rich oxidation. Farther downhole, several intervals of tectonic/fault breccias and crackle hydrothermal breccias were intersected.

Anomalous Intervals from Drill Hole S46-DDH-002 include:

• 4.50 m averaging 0.07 g/t gold, 223 ppm copper and 22 ppm molybdenum from 21.50 m to 26.00 m, hosted in altered dacite;
• 3.00 m averaging 0.14 g/t gold and 188 ppm copper from 38.00 m to 41.00 m, including the best individual gold value in the hole of 0.32 g/t gold from 39.00 m to 40.00 m;
• 3.72 m averaging 0.16 g/t gold from 116.80 m to 120.52 m, including 2.00 m averaging 0.23 g/t gold from 117.52 m to 119.52 m.

Table 1: Sobek Central corridor -- 46 South target -- second drill hole -- select composite geochemical intervals

Green Wall high-grade copper trend

The Green Wall target is located at the northern end of the Sobek Central corridor and represents a separate copper-rich mineralized trend. Previously reported copper-rich results from select rock-chip grab and float samples (14.7 per cent copper and 131 g/t silver, with 74.1 ppm molybdenum, from narrow (submetre) structures at Green Wall (see news release dated Dec. 1, 2022) are now interpreted within a broader northwest-trending mineralized corridor controlled by structures and favourable host rocks, developed near the contact between sedimentary rocks and volcanic to subvolcanic units.

Mineralization at Green Wall is associated with northwest-southeast to west-northwest/east-southeast structures, volcaniclastic units, mafic to intermediate dikes or sills, and permeable conglomeratic to sandstone-rich horizons. This geological setting suggests that the high-grade surface copper values may represent the oxidized surface expression of a more extensive concealed copper-rich mineralized system.

The Green Wall Northwest domain is characterized by a copper-rich geochemical association dominated by copper-silver-molybdenum. Mineralized samples from this domain contain copper oxides together with preserved copper sulphides, including chalcocite, relict bornite, neodigenite and covellite, supporting the interpretation that the high-grade surface copper values may represent the oxidized surface expression of broader copper mineralization.

A second domain, Green Wall Southeast, is defined by a distinct gold-tellurium-bismuth-copper (0.93 g/t gold and 93.8 ppm tellurium, together with 3.39 per cent copper and 58 g/t silver) association with epidote, specular hematite, calcite and copper oxides. This southeastern domain is located along the margin of a prominent magnetic feature and may represent a separate or more reactive mineralizing pulse within the broader Green Wall corridor.

Green Wall is spatially associated with a prominent northwest-trending magnetic feature that is evident in multiple magnetic products. The relationship between the copper-rich surface mineralization, interpreted structures and the magnetic feature provides an important framework for continuing target refinement within Sobek Central.

Globally recognized 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 kilometres to the west of the Filo del Sol deposit and three kilometres 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 strategically positioned exploration company with over 20 years of operating, permitting and community relations experience in the mineral-rich regions of Chile and Argentina. Mirasol is currently self-financing exploration at the flagship Sobek copper-gold project located in the Vicuna copper-gold-silver district of northeastern Chile while continuing 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.

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 QA/QC program with insertions of controls (standards, blanks and duplicates) submitted to the laboratory. Samples were dispatched to ALS Global's geochemistry analytical lab in Santiago, Chile, an ISO 9001:2015-accredited laboratory, which is independent from the company. Drill core samples were cut and prepared on site and transported to the reception facility of ALS in Copiapo, all under direct supervision of Mirasol personnel. Drill core samples (1.5 to 2.5 kilograms) were prepared with PREP31 and analyzed for gold with fire assay and silver/copper/zinc/lead and molybdenum AA62 with multiacid (four) digestion with atomic absorption (HF-HNO3-HClO4 digest, HCl leach) and multielement (48) four-acid ICP-MS (ME-MS61m). Assay results from drill core, rock-chip, soil and stream sediment, channel, and trench 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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