Culpeo Minerals Identifies New Target at Fortuna Project

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to announce that assay results returned from ongoing regional mapping and sampling programs at its Fortuna Project (the Project) have led to the discovery of new mineralisation at the El Quillay East Prospect. The Company intends to quickly delineate the full extent of this new target prior to drill testing.

HIGHLIGHTS

• Newly discovered El Quillay East Prospect hosts high-grade copper and gold mineralisation 500m to the east of the main El Quillay Fault (see Figure 1).
• Rock chip samples returned assay grades up to 3.29% Cu and 1.32g/t Au, with all samples being greater than 1.0% Cu.
• Samples collected over an initial area of 250m x 150m with potential to extend in all directions.
• The El Quillay East Prospect is located on a structure parallel to the main El Quillay Fault and remains open to the southeast.
• The El Quillay Fault Zone spans >3km and links the El Quillay South, Central and North Prospects, where previous drilling returned an intersection of 26m @ 0.81% CuEq¹.
• New breccia targets defined at Lana Corina and Vista Montana are scheduled for drilling in the coming weeks.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“We are highly encouraged by these promising initial results from our target generation programs. The newly defined and well mineralised El Quillay East Prospect illustrates an abundance of copper mineralisation at surface within the structural corridor. Given this prospect has never been drilled, we see good potential for a second mineralised trend to be discovered, parallel to the 3km long El Quillay Fault.”

Figure 1: Plan View showing recent El Quillay East and Central results1, 2, 3.

EL QUILLAY EAST AND CENTRAL MAPPING AND SAMPLING

The El Quillay East Prospect is a newly discovered zone of mineralisation located 500m east of the El Quillay North Prospect where previous drilling returned an intersection of 26m @ 0.81% CuEq¹. Samples were taken from outcrop and subcrop locations, and areas where copper and gold mineralisation has historically been exploited by small scale surface and underground mining (see Figure 1).

Results from sampling returned grades up to 3.29% Cu with strong gold mineralisation of up to 1.32g/t Au (refer Table 1).

Confirmatory sampling was also completed at El Quillay Central where assay results returned grades up to 1.88% Cu and gold mineralisation of up to 2.20g/t Au (refer Table 2).

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