Quarterly Activities Report – June 2023

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to provide the following activities report for the quarterly period ending 30 June 2023 (the Quarter).

HIGHLIGHTS

• Five significant surface geochemical copper and molybdenum targets generated along a >1km long copper alteration trend at the Vista Montana Prospect, Lana Corina Project¹.
• Additional outcropping chalcopyrite copper mineralisation discovered during detailed surface mapping at Vista Montana².
• Initial scout drilling at the Anico Prospect, Quelon Project returned anomalous copper, gold and molybdenum, with individual assays of up to:
  • 0.77% Cu, 0.21 g/t Au and 30ppm Mo (303m-304m downhole)³.

Figure 1: Drill rig positioned at drillhole collar CMQDD001 at the Anico Prospect within the Quelon Project.

Operating Activities

Lana Corina Project

During the Quarter, the Company continued to advance the Lana Corina Project (Lana Corina or the Project). Lana Corina is located in the coastal belt, Coquimbo region of Chile, approximately 350km north of Santiago and close to existing infrastructure with sealed road access and a high voltage power line approximately 7km to the east.

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