Drill Results Extend Mineralisation at Lana Corina to 454m @ 0.93% CuEq

Culpeo Minerals Limited (Culpeo or the Company) (ASX:CPO, OTCQB:CPORF) is pleased to announce that additional results returned from drillhole CMLCD014 have increased the intersection of near-surface, high-grade copper mineralisation to 454m @ 0.93% CuEq. This significant intersection includes several wide zones of high-grade molybdenum mineralisation. Drilling in CMLCD014 continues, targeting the potential for further porphyry- hosted copper mineralisation at depth at Culpeo’s Lana Corina Project (Lana Corina)¹, Chile.

HIGHLIGHTS

• Additional assay results returned from drillhole CMLCD014 increase the copper intersection to 454m @ 0.93% CuEq from 90m (Figure 1, 3, 4, and Appendix B and C).
• This intersection now includes the following high-grade zones:
  • 78m @ 1.24% CuEq from 200m² (previously announced); and
  • 68m @ 1.14% CuEq from 320m² (previously announced); and
  • 40m @ 1.20% CuEq from 394m.

Figure 1: Example of high-grade copper mineralisation in hole CMLCD014, 1.74% CuEq (416m to 418m).

Table 1: CMLCD014 Significant Copper Sampling Results“The reported composite intersections for the drilling are generally calculated over intervals >0.2% CuEq and where zones of internal dilution are not weaker than 2m < 0.1% CuEq, no top cut has been applied. Bulked thicker intercepts may have more internal dilution between high-grade zones. Isolated mineralised intersections less than 2m in downhole length have not been reported”.

• Additionally, three zones of associated high-grade molybdenum mineralisation have been delineated within drill hole CMLCD014 (Figure 2, 3, 4 and Appendix C):

Table 2: CMLCD014 Significant Molybdenum Sampling Results“The reported composite intersections for the drilling are generally calculated over intervals >100ppm Mo and where zones of internal dilution are not weaker than 2m <50ppm Mo, no top cut has been applied. Bulked thicker intercepts may have more internal dilution between high-grade zones. Isolated mineralised intersections less than 2m in downhole length have not been reported”.

Figure 2: Example of high-grade molybdenum mineralisation in hole CMLCD014, 4,350ppm Mo (1.70% CuEq) (498m to 500m).

• The mineralised zone has expanded the known surface-projected footprint to 600m x 400m and to a depth of 800m and remains open in all directions.
• Drilling at Lana Corina continues, with hole CMLCD014 currently at a depth of 870m. Assays are outstanding for 96m, with further results expected within four weeks.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“These latest drill results, along with the 13 previous holes, confirms the presence of a high- grade breccia and porphyry hosted mineralised system of significant scale at Lana Corina.

The Culpeo team is very excited by the results so far, demonstrating the existence of a large Cu-Mo porphyry system, which remains open in all directions.

With further assay results expected at Lana Corina, more drilling planned at Vista Montana and Fortuna to commence in the coming months, we look forward to rapidly defining additional high grade copper mineralisation across our highly prospective projects.”

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