Exceptional, High-Grade Copper Intersected at Lana Corina - 298m @ 0.98% CuEq

Culpeo Minerals Limited (Culpeo or the Company) (ASX:CPO, OTCQB:CPORF) is pleased to announce that drilling has delivered an intersection of 298m @ 0.98% CuEq, from near- surface high-grade copper mineralisation at the Lana Corina Project (the Project)¹ in Chile. The drillhole is ongoing and seeks to test the potential for further porphyry-hosted copper mineralisation at depth.

HIGHLIGHTS

• The longest intersection of high-grade copper mineralisation achieved at Lana Corina (Figure 1, 2, 3 and Appendix B and C);
• Diamond drillhole CMLCD014 returned 298m @ 0.98% CuEq from 90m and remains open at depth, with drilling ongoing;
• Included two wide, higher-grade zones:
  • 78m @ 1.24% CuEq from 200m; and
  • 68m @ 1.14% CuEq from 320m.
• Drilling continues with hole CMLCD014 currently at 700m; and
• Assays remain outstanding for 242m of hole CMLCD014 with results expected in 2 to 3 weeks.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“This intersection is exceptional in terms of both length and grade, clearly demonstrating that the Lana Corina geological system is something very special. Results returned to date confirm the longest ever mineralised intersection at the Project. Importantly, these results represent just the upper 388m of the hole. Drilling is ongoing with the hole currently at a downhole depth of 700m. The extensive and rich mineralisation intersected so far, supports our strategy that additional drilling will lead to substantial increases in the Project’s scale. This is an exciting time for both our Company and our Shareholders, with what is emerging as a significant copper system in the Coastal Cordillera of Chile.”

Figure 1: Example of high-grade copper mineralisation in hole CMLCD014, 2.71% CuEq (256m to 258m).

Figure 2: Cross-section through the Lana Corina Project showing position of diamond drill hole CMLCD0142,3,4,5,6 (looking south-west with a 40m wide clipping plane).

LANA CORINA DRILLING PROGRAM

This drill program at Lana Corina⁷ is focused on expanding the western and down-dip extension of previously reported high-grade copper and molybdenum mineralisation. Hole CMLCD014 is designed to test the current understanding of a revised geological model at Lana Corina and seeks to extend the near surface, high-grade breccia hosted mineralisation to the west and porphyry hosted copper-molybdenum mineralisation at depth.

Results returned from the first 388m of hole CMLCD014 confirms a copper-molybdenum intersection of 298m @ 0.98% CuEq from 90m to 388m. This represents the longest, continuously mineralised intersection in the Project’s history. The consistency of the 298m breccia intersection supports the current geological model and demonstrates the potential to expand the scale of the near surface, high-grade breccia zone. A further 242m of core has been submitted for analysis, with results remaining outstanding.

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