Mr. Alexandre Boivin reports

QUIMBAYA GOLD DEFINES A COPPER-MOLYBDENUM PORPHYRY SYSTEM AT TAHAMI CENTER

Quimbaya Gold Inc. has released assay results from the first six holes of its drill program at Tahami Center, part of the company's Tahami project in Segovia, Antioquia, Colombia.

The six holes reported here, totalling 2,928 metres, were sampled from surface to end of hole. All six intersected the copper-molybdenum porphyry system, with geochemically anomalous but subeconomic mineralization present in every hole. On completion of the current phase of drilling, the Tahami Center drill program will be paused so that the data can be evaluated and modelled, while the company's drilling continues at Tahami South gold-silver target. At the same time, surface exploration will resume at the northern end of the porphyry system and, given the tendency for porphyry deposits to occur in clusters, a generative stream sediment sampling program and magnetic survey will be carried out to identify whether other near-surface porphyry targets exist.

Summary:

• All six holes intersected the Tahami Center porphyry system. Sulphide mineralization is continuous below a leached and oxidized zones cap.
• Grades are geochemically anomalous but subeconomic. Below the oxide zone, the six holes average 0.021 per cent copper and 31 parts per million molybdenum.
• TCDH-006 returned 526.95 metres grading 0.041 per cent Cu and 34.1 ppm Mo from 131.90 metres to the end of the hole, including 98.70 metres grading 0.062 per cent Cu from 533.75 metres and 21.25 metres grading 0.072 per cent Cu from 501 metres (including 9.6 metres at 0.1 per cent Cu).
• Metal zoning is consistent with a porphyry system: In the pooled data, molybdenum peaks between 100 and 200 metres depth and the Cu/Mo ratio then rises with depth, from 3.6 at 100 to 200 metres to 26.4.

Commentary of the senior technical adviser

Dr. Stewart D. Redwood, PhD, FIMMM, FSEG, senior technical adviser to Quimbaya Gold, who confirmed the Tahami Center porphyry system identified by the company's exploration team, said during his review of the drill core on site from Sept. 11 to Sept. 13, 2026: "The Tahami Center porphyry copper-molybdenum project is significant as the first porphyry system to be discovered in the Segovia gold belt of Jurassic to Cretaceous age. It is rare to find an outcropping porphyry system nowadays. It was discovered in outcrop in a well-explored area but it had not previously been recognized, which highlights the discovery potential of Colombia.

"I visited the project on Sept. 11 to 13 to review the drill core. The project has the characteristics of a typical porphyry copper-molybdenum deposit. I was impressed by the size of the system and the strength of the alteration and stockwork veining. However, the percentage of copper sulphides is low and they mostly comprise chalcopyrite, with only traces of bornite. This is reflected in the low copper grades intersected so far. The holes are mineralized from top to bottom but the grades are subeconomic. The potassic alteration zone is exposed at surface which indicates a moderately deep level of the porphyry system. It is partly overprinted by quartz sericite and also by advanced argillic alteration in the root of the lithocap. The company awaits the results of the final holes in order to complete the interpretation of the results and to model the geometry of the system to look for evidence and vectors that may indicate possible zones with higher copper and molybdenum grades. These could include deeper zones of the potassic core, early mineral porphyry stocks, magmatic-hydrothermal breccias, the carapace and cupola zones of the intrusions where vein density is highest, and enrichment zones in or below the lithocap, amongst others.

"Tahami Center is a large porphyry system that has only been tested by six holes to date, with results for three more pending. In many porphyry systems, economic grades were not discovered until many more holes had been drilled. Examples are Nuevo Chaquiro (Colombia), Oyu Tolgoi (Mongolia) and Vendaval (Argentina).

"Porphyry deposits often occur in clusters, and I recommend that Quimbaya Gold use its first-user advantage to carry out a rapid reconnaissance exploration program of its extensive tenement position at Tahami by stream sediment survey and drone magnetic survey to explore for additional porphyry targets."

Management commentary

Alexandre P. Boivin, president and chief executive officer, commented: "This was an initial test of a system we had only ever seen from surface, and its purpose was to find out what is actually there at depth. There is a large porphyry system at Tahami Center with the full alteration and veining architecture you would expect, mineralized in every hole drilled. We also know the grades are subeconomic, and they came in below what the core had suggested to us. The remaining holes will finish this phase. We will then pause at Tahami Center to model everything we have learned and look hard for vectors to higher grade, while our drilling continues at Tahami South. We will also take what this system has taught us out across the rest of our ground, because porphyry deposits rarely occur alone."

The program

The program was designed as an initial test of the approximately 3.1-by-1.3-kilometre Tahami Center porphyry copper-molybdenum system as defined by surface mapping, soil and rock geochemistry, 3-D magnetic vector intensity modelling and radiometric data. The six holes reported here were drilled from four platforms between May 22, 2026, and Aug. 18, 2026, for a total of 2,928 metres. The average hole depth was 488.0 m and varied between 294.30 m (TCDH-001) and 658.85 m (TCDH-006). Drilling has continued since Aug. 17, 2026.

The holes were designed to establish the grades of the porphyry copper-molybdenum system, to map its architecture, alteration and mineralization zoning, and to identify vectors toward the centres of mineralization. A total of 1,779 core samples over 2,925.55 metres were assayed for gold by fire assay (FAA313) and for copper, molybdenum, silver and a multielement suite by four-acid digestion with inductively coupled plasma analysis (ICP-AES), representing continuous sampling of every hole from top to bottom other than 2.35 metres of core in TCDH-004 that was not recovered.

Assay results

All six holes intersected anomalous copper-molybdenum mineralization. Results are reported in Table 1 as mineralized envelopes, being intervals at or above a 0.02-per-cent copper cut-off, with higher-grade included intervals at or above 0.05 per cent and 0.07 per cent copper. Over the 2,925.55 metres sampled, the six holes average 0.02 per cent Cu, 30 ppm Mo and 0.016 gram per tonne gold. Below the oxide zone, they average 0.021 per cent Cu and 31 ppm Mo over 2,717.60 metres.

Alteration zoning and metal vectors

A leached, oxidized cap is developed in every hole, extending to vertical depths below the collar of 4.8 metres in TCDH-002 to 78.2 metres in TCDH-001. Within the cap, the holes average 0.009 per cent Cu; below it, they average 0.021 per cent Cu. Copper is lower in the cap than in the underlying sulphide zone in five of the six holes, consistent with leaching, and surface geochemistry may understate the hypogene mineralization beneath it.

Pooled across the six holes and averaged in 100-metre downhole intervals (Table 2), the metal zoning is consistent and vectors downward.

Copper increases more than fivefold with depth, while molybdenum peaks between 100 and 200 metres depth and then declines. The Cu/Mo ratio consequently rises from 5.1 to 26.4.

The pattern is clearer in TCDH-006, where copper rises from 0.015 per cent in the uppermost 100 metres to 0.060 per cent below 600 metres. This hole, which is the northernmost, also has the highest hole-average copper (0.035 per cent Cu, against 0.008 per cent to 0.021 per cent Cu in the other five holes); with six holes, that spatial relationship is indicative rather than established.

TCDH-006: the deepest hole, ending in the most anomalous grades

TCDH-006 is the deepest hole of the program. It was drilled with an azimuth of 245 degrees at an inclination of minus 55 degrees, to a total depth of 658.85 metres.

The copper grade generally increases with depth, from an average of 0.015 per cent Cu in the uppermost 100 metres to 0.060 per cent Cu below 600 metres. The hole was completed at its planned depth and ended in mineralization.

The assay results are consistent with the alteration zoning reported on Sept. 8, 2026. Potassic alteration comprising potassium feldspar with secondary biotite and magnetite is the dominant alteration from approximately 96 metres to the end of the hole, a downhole interval of approximately 563 metres. The company interprets the holes drilled to date as having tested the potassic zone of the system at depths consistent with the exploration model.

TCDH-007, currently in progress, is being drilled from a separate platform approximately 420 metres northeast of TCDH-006 collar to test the upper portion of the high-intensity magnetic anomaly beneath and east of TCDH-006.

Readers should note that grade and depth together govern whether a porphyry system can be economic. The grades intersected to date are subeconomic, and mineralization at the depths tested would require substantially higher grades than those returned to be of economic interest.

TCDH-001 to TCDH-005

Each of holes TCDH-001 to TCDH-005 returned continuous anomalous mineralization (Table 1). TCDH-001, which was abandoned at 294.30 metres after the drill rods became stuck, ended in mineralized breccia and intermineral porphyry and records the steepest downhole increase of the program, its lower half averaging six times the copper grade of its upper half.

Next steps

The Tahami Center drill program will be paused on completion of the current phase of drilling so that the results of the full program can be evaluated and modelled. The company's drilling continues at Tahami South. The evaluation will test whether vectors toward higher-grade portions of the system can be defined.

Surface exploration will resume at the northern end of the porphyry system in Q1 2027. In addition, given the tendency for porphyry deposits to occur in clusters, a generative stream sediment sampling program and drone magnetic survey will be carried out on the company's tenements to the north, commencing in Q1 2027, to identify whether other near-surface porphyry targets exist.

Sampling, analytical method and quality control

Drill core was logged and photographed by company personnel under the supervision of the qualified person. Core samples were collected from half-core intervals in HQ3 and NQ3 drill core over nominal two-metre sample lengths ranging from 0.5 metre to 2.0 metres, with cuts oriented as close as possible to perpendicular to the observed structural fabric. Sample weights typically ranged from approximately two to three kilograms. Samples were submitted to SGS, an ISO 17025-accredited laboratory independent of the company. Gold was determined by fire assay with atomic absorption finish (FAA313). Copper, molybdenum, silver, lead, zinc and a multielement suite were determined by inductively coupled plasma analysis (ICP40B). A total of 1,779 core samples over 2,925.55 metres were analyzed, representing continuous sampling of each of the six holes from surface to end of hole, other than 2.35 metres of core in TCDH-004 that were not recovered.

Quimbaya has implemented a quality assurance and quality control program that includes the regular insertion of certified reference materials, blanks and field duplicates into the sample stream at an approximate rate of 15 to 20 per cent. The qualified person has reviewed the quality control results for the program and considers them to be within acceptable limits for the purposes of this news release. Reported lengths are downhole core lengths; true widths are not known.

About Quimbaya Gold Inc.

Quimbaya Gold is a Colombia-focused exploration company advancing a district-scale portfolio of more than 73,000 hectares across highly prospective mineral belts in Antioquia, Colombia. Its flagship Tahami project, located in Segovia, is immediately adjacent to a prolific high-grade gold mining camp, while the Berrio and Maitamac projects are strategically positioned in Puerto Berrio and Abejorral, respectively. Early-stage exploration has identified mineralized vein systems and documented features consistent with a multicommodity porphyry system prospective for gold, copper and molybdenum, highlighting the district-scale discovery potential of Quimbaya's land package. The company is led by a proven technical and management team committed to disciplined exploration and responsible mining practices.

Qualified person

Ricardo Sierra, AusIMM, is a non-independent officer (vice-president, exploration) and the qualified person for this news release. The scientific and technical content of this press release has been reviewed and approved by Mr. Sierra, who has sufficient experience with South American exploration projects relevant to the style of mineralization and type of deposit under consideration. He has verified the data disclosed herein and consents to the inclusion of the exploration results in the form and context in which they appear. Mr. Sierra supervised the drill program and verified the collar, survey, logging and photographic data by direct examination of drill core and the analytical data by review of the original laboratory certificates. Reported lengths are downhole core lengths and true widths are not known. This news release refers to nearby or adjacent mines, deposits and operations, and other mineral deposits elsewhere that are named by way of geological analogy only; that information is derived from public sources, the company has no interest in any of those properties, and mineralization on those properties is not necessarily indicative of mineralization on the company's properties.

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