Culpeo Extends Piedra Dura Mineralisation 400m North with Grades up to 9.78% Cu and 13.4g/t Au Returned

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to announce further results from surface sampling at the Piedra Dura Prospect, within the Fortuna Project (the Project), Chile. Results confirm the extension of mineralisation for an additional 400m to the north and 150m east, with grades up to 9.78% Cu and 13.4g/t Au.

HIGHLIGHTS

• High grade copper and gold surface results returned from follow-up sampling at the Piedra Dura Prospect, within the Fortuna Project.
• Grades of up to 9.78% Cu and 13.4g/t Au from outcropping zones of mineralisation.
• Mineralisation extended 400m to the north and 150m to the east, strike now >1.5km and up to 250m wide.
• Mineralisation remains open to the north and south.
• Drilling is ongoing at the El Quillay North Prospect.

Figure 1: Sample CPO0008661 returned 9.78% Cu and 7.52g/t Au.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“The 2023 exploration program continues to impress with high-grade, out-cropping copper and gold mineralisation now extending an additional 400m to the north and 150m to the east at Piedra Dura. Assay results returned for Piedra Dura reveal new wide, high-grade copper and gold zones that have the potential to add significant volumes of near-surface mineralisation.

The latest results are an excellent outcome as we continue to demonstrate the potential for a district scale copper and gold deposit within the Fortuna Project. We look forward to reporting further news from Fortuna, including drill hole results in the coming weeks.”

PIEDRA DURA PROSPECT

The Piedra Dura Prospect is located 1.8km west of El Quillay within the Fortuna Project (Figure 2). The structurally controlled outcropping copper mineralisation has been delineated over 1.5km of strike and up to 250m width.

The Company previously reported the discovery of significant high-grade outcropping copper and gold mineralisation at Piedra Dura with several parallel structures identified¹. Recent exploration activities focused on exploring additional prospective structures in the area.

The field program at Fortuna continued during November, with the collection of a further 27 rock chip samples, focussed on extending the Piedra Dura mineralisation to both the north and east.

Of the 27 samples collected, 11 returned high-grade copper results >2% Cu (Table 1) including a sample of 9.78% Cu and 7.52g/t Au (CPO0008661) from within a gossanous shallow dipping structure, strongly mineralised with secondary copper including malachite, azurite and covellite (Figure 1).

High-grade gold results accompanied the significant copper mineralisation with sample number CPO0008659 returning 13.4g/t Au and 6.04% Cu (Figure 3).

It is clear from the assay results that the western tenure of Culpeo’s Fortuna Project, which includes Piedra Dura, is highly prospective for economic copper and gold mineralisation. The recent rock chip sampling extends mineralisation 400m to the north and 150m to the east with the target structure remaining open to the north and south.

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