High Priority El Quillay North Target Defined At Fortuna With Historical Grades Of Up To 6.92% Cu

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to announce that ongoing exploration work at it’s Fortuna Project, has defined high priority targets at the El Quillay North Prospect. Multiple copper bearing zones have been identified with lengths of up to 1,000m, 50m wide and 200m deep.

HIGHLIGHTS

• High Priority El Quillay North target defined at Fortuna.
• Located at the northern portion of the 3km long El Quillay mineralised trend.
• Mine records show approximately 200,000 tonnes @ 2% Cu extracted historically¹.
• Historical underground sampling returned high-grade zones including (refer Appendix C and D):
  • 3m @ 6.92% Cu;
  • 15m @ 1.50% Cu;
  • 5m @ 1.18% Cu; and
  • 5m @ 2.70% Cu.
• Exploration work is ongoing with drilling scheduled for Q4 CY23.

Figure 1: Historic mine portal at El Quillay Prospect, Fortuna Project.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“With our recent capital raise complete, we are well funded to explore the compelling targets at the Lana Corina and Fortuna Projects in Chile.

“Limited historical exploration work at the El Quillay Prospect returned significant copper results, which together with the copper mineralisation defined at the Vaca Muerta and La Florida Prospects and other regional copper occurrences, highlight the potential for a significant mineralised system. The consolidation of our landholding in the coastal metallogenic belt of Chile presents a high-quality regional copper exploration opportunity, which has not benefited from the focus of modern-day exploration techniques that it deserves”.

“We look forward to reporting on the results of this exciting next phase of exploration as we explore both Fortuna and Lana Corina, focused on unlocking their full potential.”

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