Dr. Paul Gow reports

TRIBECA RESOURCES ACCELERATES 100% ACQUISITION OF GABY AND REPORTS PROGRESS AT THE JIGUATA PORPHYRY AND LA HIGUERA IOCG PROJECTS

Tribeca Resources Corp. has made progress at its northern Chile copper projects.

Tribeca has exercised its right, under an existing purchase option agreement, to acquire a 100-per-cent interest in the Gaby-Totito property at its La Higuera iron oxide copper/gold project. This transaction provides Tribeca with, for the first time, 100-per-cent and outright ownership of all concessions across its flagship La Higuera project.

In addition, drilling is progressing at the Chirsposo Sur target, located four kilometres to the south of Gaby, and predrilling field activities at the Jiguata porphyry and high-sulphidation copper exploration project are complete.

Highlights:

• Gaby-Totito property purchase option exercised through $500,000 (U.S.) completion payment; deferred payments to be made through to September, 2027 (see details below), with a 1-per-cent net smelter royalty retained by the project vendors over future production;
• First of three planned drill holes at the previously untested Chirsposo Sur target completed; assays are pending;
• Field data collection for the Jiguata MT survey completed, with data processing and interpretation in progress; drill planning will commence once pending hyperspectral and multielement soil data are received from the laboratory.

Tribeca Resources chief executive officer Dr. Paul Gow commented: "We are very pleased to have acquired 100-per-cent ownership of the Gaby-Totito property, which hosts the exciting Gaby discovery. This pro-active transaction is a pivotal milestone and underscores our disciplined approach to capital management. We look forward to proceeding with additional drilling at the Gaby target later in the year.

"Four kilometres south of Gaby, at the Chirsposo Sur target, drilling is progressing. We are testing a blind geophysical target, consistent with our science-driven approach to identifying and testing previously missed or misunderstood targets below cover. Assay results from the first hole are expected in four to six weeks and will be reported in due course.

"At Jiguata, which we believe has potential to host a large Miocene porphyry copper or high-sulphidation system, we are excited to plan our maiden drill program, once analyses for the remaining soil and rock samples are received."

Exercise of Gaby purchase option

La Higuera project was originally consolidated through four separate purchase or option-to-purchase agreements. Three of the four properties have been 100 per cent outright owned since 2022. The Gaby-Totito properties, held under a 100-per-cent purchase option agreement, had a final $1.55-million (U.S.) payment due by September, 2026. Tribeca Resources has exercised this option and now holds a 100-per-cent interest in the project. The option was exercised early through negotiation with the project vendors, a private Chilean group of investors. Five hundred thousand U.S. dollars of the $1.55-million (U.S.) final purchase payment have been paid with deferred payments due as follows:

• $500,000 (U.S.) payable by Sept. 15, 2026;
• $550,000 (U.S.) payable by Sept. 15, 2027;
• Exploration levy payments of 10 per cent of exploration expenditure incurred on the properties between Jan. 1, 2026, and Sept. 15, 2027, are to be made semi-annually.

The project vendors retain a 1-per-cent net smelter return royalty over future production from the Gaby-Totito property.

Taking outright ownership of Gaby-Totito demonstrates the confidence Tribeca has in the potential for the mineralized Gaby system to ultimately form an integral part of a new multideposit copper district at La Higuera. This transaction delivers flexibility in how Tribeca finances and advances this highly prospective property.

Chirsposo Sur drill program

As previously announced in the news release of April 28, 2026, a drill program comprising three diamond holes for approximately 1,050 metres is under way at the Chirsposo Sur target. Two holes are designed to test discrete magnetic highs within the main magnetic and gravity target, with a third hole to the south to test a rare coincident low-resistivity anomaly evident in the pole-dipole induced polarization data.

The first of the three holes, CSS-001, was drilled to the west and has been completed to a depth of 329 metres. The drill core is currently being cut and will be submitted to the laboratory for assay, with results reported in due course.

The rig is now moving to the second planned hole, which will be testing a second magnetic high 300 m to the south of CSS-001 within the main magnetic and gravity target. The third proposed hole, testing a low resistivity IP anomaly, is a further 500 m to the south.

Jiguata update

Geological mapping at Jiguata was completed in April, with the key outcomes from this work being the ground truthing of the four large alteration systems delineated from the detailed satellite data (see news release dated Feb. 25, 2026). These alteration systems variably display indications of a high-level hydrothermal system, including associated advanced argillic alteration, silica-alunite breccias, vuggy quartz alteration and dacite domes. Rock sampling was completed in conjunction with the geological mapping, with 149 samples submitted to the laboratory. The final multielement analyses have been returned and will be reported in due course.

A large soil sampling program was also completed, with a focus on the four large alteration systems, with a sampling spacing of between 100 m and 400 m. The 672 samples have been submitted to the laboratory for multielement analysis, with approximately 50 per cent of the results returned to date.

The data collection component of the previously reported magnetotelluric survey has been completed at Jiguata. The survey was designed to cover the four large alteration zones delineated by the geological mapping. The survey comprised data collection at 128 stations at a nominal 750-metre spacing to cover approximately 84 square kilometres. The data are currently being processed and interpreted.

Qualified person

All scientific and technical information in this press release has been prepared by, or approved by, Dr. Gow, who is the CEO of Tribeca Resources. He is a member of the Australian Institute of Geoscientists, a member of the Australasian Institute of Mining and Metallurgy, and a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than La Higuera IOCG project, the Jiguata project and the Chiricuto property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on La Higuera IOCG project, the Jiguata project and the Chiricuto property.

About Tribeca Resources Corp.

Tribeca Resources is a portfolio-driven copper explorer focused on northern Chile. Led by a team with a record of discovery and significant equity ownership, Tribeca Resources' objective is to discover the mineral resources for the next generation of copper mines in Chile.

Tribeca Resources' flagship La Higuera IOCG project is 100 per cent owned and has seen approximately 10,000 m of drilling with mineralization defined over a 1.4-kilometre strike length at the Gaby discovery. The Chiricuto and Jiguata projects are earlier-stage porphyry copper-gold-molybdenum targets, held under purchase option agreements.

We seek Safe Harbor.