Drilling Confirms Continuity of Higher-Grade Copper

HIGHLIGHTS:

• Further positive visual mineralisation estimates from 200m spaced infill drilling corroborate the extension of a higher-grade zone of chalcocite mineralisation extending laterally from NCP55 which includes 10.0m @ 1.32% Cu & 27.7g/t Ag (see ASX announcement 3 February 2025¹);
• Infill hole NCP69 includes a 6.5m intersection of chalcocite mineralisation logged from 197.9 to 204.4m including an estimated 5 to 8% chalcocite over 1m with visual estimates of abundance confirmed with pXRF measurements²; and
• Based on the encouraging preliminary results, the current drill programme has been further extended to include step-back and lateral step-out holes to delineate the vertical and lateral extent of higher-grade copper-silver mineralisation within the Cosmos Target.

Noting the zone of higher grades, the ongoing drill programme is designed to test the potential for both In-Situ Copper Recovery (ISCR) and conventional underground mining at the Cosmos Target.

Commenting on the preliminary results from the Cosmos Target Drill Programme, Adam Wooldridge, Cobre’s Chief Executive Officer, said:

“While these results are visual and preliminary, we are nonetheless very pleased to see further encouraging intersections at Cosmos providing justification for extending the drill programme into 2026. This is a great result for the Company as we expand the drill program into next year and look forward to reporting the results as the core cutting and program processes with the next drill hole currently underway.”

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