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October 7, 2026 TheNewswire - Vancouver, British Columbia Radius Gold Inc. (TSXV: RDU,OTC:RDUFF) ("Radius" or the "Company") is pleased to report that it has received authorization from the Peru mining authorities to initiate exploration activities, including drilling, at its Tierra Roja copper project in the district of Ático, Province of Caravelí, Arequipa, southern Peru.
The Gerencia Regional de Energía y Minas (GREM) of the Regional Government of Arequipa has issued authorization for the Company to commence exploration activities on the Ferruginosa I-400 concession, the main target area of the Tierra Roja project.
Permitting Status
Tierra Roja sits on unoccupied state land. As the Company has previously reported, that means two permissions are required: an environmental authorization for the drill program, and a surface right from the Superintendencia Nacional de Bienes Estatales (SBN), followed by GREM authorization to start work.
The environmental authorization was granted in 2025 and covers the planned drill platforms and access. In January 2026 the Company reported that GREM had approved the technical review for surface access and that the file had moved to the SBN. In March 2026 the SBN granted provisional surface access and the Company filed its application with GREM for authorization to initiate exploration activities. Issuance of that GREM authorization was then delayed because the SBN made an observation on the project coordinates. The observation was appealed and the appeal was upheld.
With the GREM authorization now received, the provisional SBN surface access permits the Company to proceed with exploration while a definitive surface easement is finalized.
Radius is moving ahead with the initial drill program as quickly as possible. Contracts are being negotiated, access is being prepared, and a camp is being established. The Company aims to begin drilling before year-end and will provide a further update on timing as that work advances.
"I am extremely pleased that we finally have the authorizations required to commence drilling, after the delay relating to the SBN provisional surface right," said Luke Longridge, President. "We are excited to drill the Tierra Roja target, and we are making arrangements to start as soon as possible."
Sampling
Additional rock-chip geochemical sampling at Tierra Roja has been completed, and the samples have been submitted to the laboratory. Results will be reported when received. These samples cover a broader area of the property away from the core zone, which has been the focus of sampling thus far. Owing to the extensive caliche cover over most of the property, a systematic grid approach was not followed, but additional strategies (e.g., shallow percussion drilling or auger sampling) to systematically collect material from below the caliche are being evaluated.
Qualified Person
Luke Longridge, PhD, P.Geo, is the President of Radius and is Radius's Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Longridge has reviewed and approved the technical information contained in this news release.
About Radius Gold Inc.
Radius Gold Inc. is an exploration company focused on the discovery and advancement of high-quality projects in the Americas. The Company's strategy is to identify, acquire and advance exploration opportunities with strong discovery potential.
ON BEHALF OF THE BOARD
Simon Ridgway
CEO and Chairman
Radius Gold Inc.
1111 Melville Street, Suite 1000
Vancouver, BC V6E 3V6, Canada
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Company's exploration plans for its Tierra Roja property. Often, but not always, these forward-looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the planned exploration work at the Company's Tierra Roja property will proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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