Mr. Tim Heenan reports

MIRASOL LAUNCHES EXPLORATION SEASON TO ADVANCE TO DRILLING AT SOBEK COPPER-GOLD PROJECT IN VICUNA DISTRICT, CHILE

The 2024/2025 exploration season is under way at Mirasol Resources Ltd.'s 100-per-cent-owned Sobek copper-gold project in the Vicuna district of Chile in preparation for drilling two of the high-priority porphyry targets identified last year (see news release dated May 13, 2024). With permits and community agreements in place, exploration to evaluate and prioritize the multiple copper porphyry targets identified, including detailed geological and structural mapping, sampling, geophysics, and alteration analysis, is progressing.

Drilling equipment and supplies are currently being mobilized to the Sobek North Potro SE target located three kilometres from NGEx's Lunahuasi discovery. Induced polarization (IP) and pole-dipole (PDP) geophysical surveys to refine drill collar positioning at the Potro SE target are quickly advancing, with the first two three-kilometre lines now complete and the final 2.6-kilometre line is nearly complete.

While drilling advances at Sobek North, exploration will be continuing at Sobek Central to advance toward the second phase of drilling at the Sobek 46 South target later this season. Exploration will include electrical ground-based geophysics and the continuation of the systematic grid-based geochemical soil sampling survey to further define the trend of porphyry targets that start at the VN zone and extends south for at least three kilometres to the Sobek 46 South target. The VN zone trend is located on a parallel structure seven kilometres directly west of Filo Mining's Filo del Sol project. Construction of a 2.5-kilometre access road is currently advancing to facilitate exploration and future drill mobilization.

"Our progress at Sobek has been building towards this very pivotal exploration season for years. Drilling is expected to start imminently at the copper porphyry target at Sobek North. The Potro SE target is a shallow, cylindrical-shaped magnetic response at the intersection of two productive faults in a similar geological setting as reported by NGEx at their Lunahuasi discovery. The data collected from the final IP survey of the Potro SE prospect is currently being reviewed to finalize drill targeting," stated Tim Heenan, Mirasol's president and chief executive officer. "While drilling proceeds at Sobek North, we will continue exploration at Sobek Central to advance towards drilling the Sobek 46 South target later this season. The Sobek 46 South target is the largest coincident mag and MT [magnetotelluric] geophysical anomaly we have outlined to date with mineralized tourmaline breccias and elevated copper-[molybdenum]-gold geochemical results on surface. Sobek 46 South is at the southern end of the of the three-kilometres-long VN zone series of porphyry targets located seven kilometres directly west of the Filo Del Sol project on what is interpreted to be a similar parallel, regional, north-south-trending controlling structure."

Final preparation before drilling Sobek North -- Potro SE target

At the southeastern corner of the Sobek North block, a shallow, cylindrically shaped magnetic-high target (Potro SE) was identified 250 metres below surface from the original airborne mag survey (see news release dated May 13, 2024). The Potro SE magnetic high is cradled within the intersection of two productive faults -- the Maranceles fault and the Ventana fault -- which continues three kilometres north-northeast to Lunahuasi.

Coincidentally, follow-up exploration has returned several elevated results ranging from 0.11 per cent to 1.8 per cent copper and two parts per million to 87 parts per million molybdenum from select grab samples directly overlying the magnetic anomaly and a systematic soil grid survey across the target also returned a coherent copper soil anomaly. Intense propylitic (green rock) alteration outcrops over a 600-metre-by-600-metre area, directly above the cylindrical magnetic anomaly.

A chargeable electrical IP-PDP anomaly, which has yet to be fully defined, is spatially associated with the cylindrical magnetic high. Three additional geophysical lines of IP-PDP are nearing completion over the target to map out the geometry of the chargeability anomaly more precisely and to finalize drill collar placement.

Advancing to drilling Sobek Central -- Sobek 46 South and the southward expansion of the VN zone

Situated in the southern end of the Sobek Central block, the VN zone appears to represent the northernmost expression of a much larger hydrothermal system hosting multiple porphyry targets that extend for more than three kilometres to the south (see news release dated May 13, 2024). Exploration last season significantly expanded the alteration and mineralization footprint of the VN zone to the south across the previously consolidated SQM property (Rosita) (see news release dated Feb. 14, 2024) and onto the 100-per-cent-owned Mirasol claim block (Sobek 46 South).

The emerging porphyry target at Sobek 46 South is associated with a very large (over one kilometre by one kilometre) aerial geophysical response sourced from both airborne magnetics and MT surveys. Prospecting campaigns have reported copper mineralization in rock chips directly above the subsurface mag and MT geophysical anomalies. The systematic soil sampling has also started to define what appears to be a strong and coherent copper/molybdenum/gold soil anomaly coincident with the rock chip geochemistry overlying the geophysical responses at Sobek 46 South (see news release dated May 13, 2024).

Mineralized tourmaline breccias identified on surface directly above the coincident mag and MT geophysical anomalies are considered strong geological indicators for potential copper porphyry mineralization at depth. Tourmaline breccias commonly contribute significantly to the copper content of copper porphyry systems.

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 continually expanded and consolidated Sobek project is located on the same regional north-south-trending structural corridor and just three kilometres to the west of the Filo del Sol deposit and three kilometres to the southwest of NGEx Minerals' 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.

Webinar outlining exploration progress and plans for Sobek copper-gold project

A webinar with Mr. Heenan outlining exploration progress and plans for drilling the Sobek copper-gold project was recently recorded at the Precious Metals Summit Zurich and is available on Mirasol's website.

About Mirasol Resources Ltd

Mirasol is a well-financed exploration company with 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 two flagship projects, Sobek and Inca gold, both located in Chile, and controls 100 per cent of the high-grade Virginia silver deposit in Argentina. Mirasol also continues to advance a strong pipeline of highly prospective early and mid-stage projects.

We seek Safe Harbor.